Effective Strategies for long term growth

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The assignment should be divided in 3 main Parts

 

  • Introduction
  • Main Part (Body)
  • Conclusion

 

Study the case « Effective Strategies for long term growth” and answer the following question:

 

  1. Explain the terms “ Vision’and “ aims”. Give examples related to NATS and a business of your choice.
  2. What is a SMART objective? Explain one benefit for NATS of setting SMART objectives
  3. Analyse how having a clear, long term strategies support NATS’s vision for global expansion.
  4. To what extent can having a clear vision, strategies, aims and objectives guarantee a business success?

 

Other details:

 

Font size 12

Double-Spaced

Number of words for the assignment: Min 1000

 

 Sample Answer

 

Case Study: NATS

Introduction

NATS is a provider of air traffic services, solutions, and consultancy for airlines, airports, and aviation authorities in and outside the UK. The organization was founded in 1962 as a government body to provide air navigation services. In the UK, NATS is a leading provider of air traffic services. Currently, NATS manages 15 of the busiest airports in the UK. In the UK, NATS personnel and systems allow the organization to manage around 6,000 flights each day and over 2 million flights annually (TheTimes, n.d.). The organization has expanded with operations to 28 countries internationally.

Vision and Aims

A vision outlines what an organization wants to be in an ideal world. A vision is an aspirational goal about what an organization wants to become in the future. A vision inspires the stakeholders of an organization in their respective undertakings to facilitate the attainment of the organization’s desired future position (Bowman, 2019). Additionally, a vision can outline the problem that an organization intends to solve. On the other hand, an aim is a description of what an organization plans to do in the long term to enable the attainment of the stated vision. Aims are a set of goals that an organization pursues to reach its desired position in the future.

The vision of NATS is to be acknowledged as a global leader in innovative air traffic solutions and airport performance. The stated aims of NATS include pursuing organic and inorganic business growth, reducing safety risks, reducing carbon emissions, increasing effectiveness and efficiency in operations, and meeting customer needs.

Unilever is a UK-based multinational company that sells a wide range of consumer goods. The vision of Unilever is to make sustainable living commonplace to achieve business growth in the long term (UnileverPLC, 2022). The aims of the company include meeting the everyday needs of consumers in personal care, hygiene, and nutrition, developing people’s skills, pursuing business sustainability, extending the global reach of the business, and building a more inclusive range of products.

SMART Objectives

A SMART objective is a form of objectives that is specific, measurable, achievable, agreed, relevant, and time-framed. Specific (S) outlines that the end goal should be clear and well-defined. Measurable (M) requires that the objective can be evaluated based on an established metric or benchmark (MindTools, 2020). Agreed (A) outlines that relevant stakeholders should be involved in setting the objective. Relevant (R) means that the objective should contribute in some to the organization’s purpose. Finally, time-framed (T) indicates that the objective falls in the organization’s plans with a specific timeline. SMART objectives provide a way for people, groups, or organizations to set, monitor, review, and attain both short and long-term goals (Bjerke & Renger, 2017).

For NATS, the main benefit of the SMART objectives is that they provided a structured approach for the development and attainment of organizational goals. Through the SMART objectives, NATS has a clear view of what needed to be done to achieve the stated objectives. For instance, having a SMART objective around the reduction of CO2 emissions was integral in guiding the company’s efforts to minimize emissions from planes. Furthermore, the SMART objectives provide a timeframe that informs the organization and its stakeholders on what is expected to have been accomplished within a specified duration.

 

 

NATS’s Clear, Long Term Strategies

The stated vision of NATS is to be acknowledged as a global leader in innovative air traffic solutions and airport performance. The organization has developed three strategies that focus on innovation, partnerships, and people. The first strategy, innovation, concerns the development of new and creative services and products to enable NATS to maintain its market position and achieve growth (TheTimes, n.d.). The second strategy, partnerships, focuses on creating alliances intended to strengthen the position of the organization and open up new markets. The last strategy, people, concerns the enhancement of organizational skills and competencies to enable NATS to acquire the resources needed to meet challenges.

The three clear, long-term strategies have been instrumental support the organization’s vision of global expansion. Firstly, the strategy of innovation has enabled NATS to create groundbreaking services and products. Those innovative services and products have enabled the organization to compete effectively in new markets and position itself as an important player. In this way, the clear innovation strategy has facilitated the growth and expansion of NATS in the global arena.

Secondly, the strategy of partnerships has allowed NATS to cultivate beneficial relationships with other organizations. For instance, the strategy has allowed NATS to enter a partnership with a Spanish private investor in transportation infrastructure called Ferroser (TheTimes, n.d.). The partnership enabled NATS to win a bid to run airport tower operations in Spain. As such, the partnerships strategy has seen NATS collaborate with other players in the sector to expand its global reach.

The third people strategy has informed the organization’s recruitment, employee development, and retention processes. Based on this clear strategy, NATS has focused on both attracting the most skilled people and also retaining those people. Consequently, the strategy has encouraged the organization to provide training and development schemes that improve the competencies of NATS employees. As such, the strategy of developing the capabilities of employees has enabled NATS to gain a competitive edge. Having highly skilled personnel allows the organization to compete effectively in the global market against other traffic services and solutions companies.

Clear Vision, Strategies, Aims and Objectives, and Business Success

Firstly, having a clear vision, strategies, aims, and objectives contributes to business success by outlining what the organization intends to achieve by the fact of its existence. For instance, the vision of a business outlines what the business wants to accomplish in the future. Therefore, having a clear vision will enable the business to set clear aims and strategies to achieve that vision (Gershoni, 2019). Therefore, the business has a structured approach to the attainment of its goals which guarantees success.

Having a clear vision, strategies, aims, and objectives contributes to business success by providing a basis for evaluating progress. Greater clarity in aims and objectives allows for the establishment of standards and benchmarks that will allow the business to regularly evaluate its performance (Ahmed, 2019). Performance measurements enable the business to identify challenges and obstacles then develop the appropriate solutions to drive business success.

Finally, having a clear vision, strategies, aims, and objectives guarantees business success by ensuring that all stakeholders know their roles. Clarity ensures that all the people in the organization understand how they can contribute to the success of the business (Ahmed, 2019). For example, with clear objectives, employees are encouraged to improve their effectiveness and productivity to aid in the attainment of the stated business objectives.

Conclusion

A vision outlines what an organization wants to be in an ideal world. Aims describe what the organization plans to do to achieve the stated vision. SMART objectives provide a means for organizations to set, monitor, review, and attain both short and long-term goals. The success and growth of NATS is grounded in the organization’s clear and well-defined vision, aims, objectives, and strategies. Businesses that aim to be successful in their sector need to have a vision and aims that will enable the organization to attain its desired position in the future.

 

 

References

Ahmed, A. (2019). Importance of mission vision in organizational strategy. Chron. https://smallbusiness.chron.com/importance-mission-vision-organizational-strategy-16000.html

Bjerke, M. B., & Renger, R. (2017). Being smart about writing SMART objectives. Evaluation and program planning61, 125-127.

Bowman, M. (2019). Why is having a company vision so important for business? Thrive. https://thriveagency.com/news/business-vision/

Gershoni, G. (2019). 8 benefits of great vision and mission statements. Strategic and Heuristic IT Management. https://shit.management/8-benefits-of-great-vision-and-mission-statements/

MindTools (2020). SMART goals. https://www.mindtools.com/pages/article/smart-goals.htm

TheTimes (n.d.). Effective strategies for long-term growth. The Times 100 Business Case Studies

UnileverPLC (2022). Strategy and goals. https://www.unilever.com/planet-and-society/health-and-wellbeing/strategy-and-goals/

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