Strategic management refers to the planning and decision making that shapes an organization’s long-term direction. Strategic management requires businesses to consider their strengths and weaknesses, opportunities and threats, and overall competitiveness. It can help organizations determine who their customers are and what they want.
This allows businesses to develop marketing plans and product offerings that are more likely to meet customer needs. Strategic management can also provide a framework for businesses to track their progress and make necessary course corrections to achieve their goals.
Many resources are available to help students understand strategic management, including paper examples in online databases. By taking advantage of these resources, you can learn about the process and see how best to approach your assignment on strategic management.
The case of Merck shows that a successful company should introduce innovative approaches and methods in planning and strategic thinking in order to compete on the market. The process of the strategy itself is instructional, exemplary for decision-making throughout the company. While the fullest involvement possible is the preferred course...
Every organization is supposed to act as a system that contains many sub-systems. Examples of these subsystems are humans, technology, information, management, etc. The larger the size of the enterprise, the more will be the complexities surrounding the interactions between these subsystems. “Such systems, because of their size and complexity...
The first-mover advantage could be seen in the perspective of “the advantage that a firm or country may derive from being the first to enter a market, or from being the first to use a new technology, advertising technique, etc.” In other words, first movers could be seen in terms...
As a manager, I need to work on developing the leadership approach, which will eventually lead the company that I am going to be a part of to the sustainable use of the existing resources. Therefore, the article by Harris and Mongiello has served as a boost for my professional...
After the formulation of the different categories of customers according to the framework by Reinartz & Kumar, Noone et al. identified four different strategies of customer-centric revenue management (CCRM) to serve the four categories of customers through revenue management (RM), including traditional revenue management, lifetime value-based price modelling, availability warranting...
Online retailing requires good strategies to ensure that the enterprise can compete effectively in the global arena. Depending on the analysis of diverse factors, specific strategies that are applied to a business may boost or reduce its growth. The vital stimulants of judicious progression in the trade may emerge from...
Strategic management was developed during the 1950s by Philip Selznick, Igor Ansoff, and Peter Drucker. During this period of time, strategic planning was through a wave of popularity not too different from traditional management. There has been enough time since the introduction of strategic management concepts to observe the results...
The reality and existence of globalization can be witnessed in DPWN where patterns of trade are considered, for example, the general level of imports and exports in several countries have magnificently increased over the past few years. Also, globalization has led to a significant increase in the production of business...
Strategic management involves the choices a firm makes in terms of what the organization will do and will not do to achieve specific objectives in realizing its mission and vision. The strategic management process is a continuous, systematic process that contains several steps: developing a strategic vision and mission, analysis...
To sustain within the diverse challenge of both external and internal environment organisations are required to make a significant change. Strategic Change in spite of substantial resources dedicated to carrying on the change effort backed by top management. Talented and committed professionals and leaders drive strategic change. Managerial feelings are...
Total quality management and Six Sigma are aimed to introduce improvements and changes in production and service processes. In both cases, quality processes seek a compensation system that promotes flexibility in task assignment; concerns for quality, delivery reliability, cost control, and general customer satisfaction; acceptance of new technology; acceptance of...
Poodle international is an environmental conservation organization that employs over 350 employees. The organization deals with the replanting of trees in the deforested areas and encouraging the locals to revert to the traditional methods of preserving the forests. The performance management leaves a lot to be expected. The recruitment methods...
The main aspect of NFP organizations is not profit-seeking but to render service to the community. The aspect of profit-seeking is incidental and not the main essence of such a business. Professionals, in more ways than one, are more concerned with profits, turnover, meeting of corporate aims and objectives, and...
This is because of the understanding that the ability to understand the culture and leadership style of an organization determines to a large degree the capacity to understand strategic management of an organization. Organizational culture and leadership form two critical factors that impact strategic management and the path an organization...
EasyJet is a company which has a clear strategy by following, which it manages to be successful. Namely, EasyJet’s strategy involves offering low fares for short-haul flights to different destinations in Europe (“Strategy,” n.d.). Essentially, the company provides the lowest prices on the market, making air travel affordable for thousands...
Introduction The primary strategy of interest that I attempted to implement was to build a positive relationship with the majority of suppliers by ordering raw materials from the same companies. I have done this in an attempt to increase the capacity of the organization and respond to the shift in...
Introduction Innovation in the consumer services sector has become a part of modern life and an essential element of progress in the technology industry. As an example of a company involved in this field, one can mention Dyson, the corporation that has been successfully represented in the global market since...
Every company at some point in development requires an assessment of its future strategies. Strategic management is a type of planning that allows developing a structured approach to competition for resources and customers (Segal-Horn, 2004). Every strategic step should be assessed based on profits, customer satisfaction, and cost reduction (Burba...
The notion of supply chain management has been long perceived as one of the major pillars of creating an efficient and successful business endeavor. In terms of supply chain relationships, various stakeholders emphasize different aspects of production, with some companies focusing on communication with consumers and others building a model...
Introduction According to Dyche (34), customer relationship management (CRM) has become a core component in the strategic management of firms. CRM enables firms to be effective in interacting with their customers and suppliers. CRM entails using Information Technology to synchronize, automate and organize different business processes. Some of the business...
Introduction Since the second half of the twentieth century, Japan has been able to evolve from a developing country into one of the world’s wealthiest developed economies (Fitzgerald and Rui, 2016). A large role in this evolution has been played by Japanese multinational enterprises (MNEs), which contributed to the growth...
Introduction Corporate strategies are at the core of modern management practices. Many scholars agree that corporate strategy is a major subject for both academia and practitioners since it helps discern such aspects as organizational scope decisions, including alliances, mergers and acquisitions, and other strategic moves made by a firm (Feldman,...
Stakeholders are arguably among the essential components of project planning and management. Stakeholders are defined as individuals, groups, or organizations affected or can affect a particular project (Silvius & Schipper, 2019). Consequently, project management necessitates stakeholder interaction to ascertain stakeholder needs and wants that influence decision-making. According to Rajhans (2018),...
Business Environment A company’s operational and financial outcomes may be favorably or adversely influenced by the company’s internal setting, which business executives can control. Business executives may have little or no influence over the external environment, which may provide the biggest hurdles to their company’s growth. It is common for...
Deliberate and emergent strategies, often used in strategic planning, have distinct origins. While deliberate strategies are the result of careful development and selection, emergent strategies typically emerge after a company responds to unexpected circumstances, meaning that such techniques are more rushed and not data-supported (Abraham, 2012). Therefore, an emergent strategy...
Analysis Bowman’s Strategic Clock Bowman’s Strategic Clock demonstrates how a business can structure its commodities or services in the market using two dimensions. The first is concerned with the pricing, and the second is the perceived worth of the item, service, and organization. Additionally, this approach assesses a company’s competitiveness...
Any company, no matter how carefully its strategic plan is built at a particular stage of its development, may face some strategic issues that need to be addressed. They can be caused by both internal contradictions and external factors, trends, and changes. However, even serious negative factors can be overcome...
In an ideal organizational context, the structural support for the strategic framework utilized by an organization represents a homogenous framework where all elements are connected and coherent. However, in the real-life setting of an actual market, the balance between strategy and structure is highly fragile and rare, with most of...
The dichotomy between cultural differences has been displayed to raise innovativeness and drive advancement in case an organization keeps its values. While neighborhood mastery is a priceless resource, cultivate combination among groups to keep away from partners from various nations working in detachment and restricting information move. A multicultural labor...
Boeing is one of the most influential organizations in the aircraft industry and has been maintaining a competitive position for a long time. From the perspective of Porter’s five forces, Boeing also has a favorable standing. First, the aircraft industry has high requirements for new entrants, including capital necessity (potentially...
Strategic initiatives represent the force that gives the organization mass acceleration, overcoming inertia and resistance to change. Strategic initiatives are new projects and programs with specific deadlines. The purpose is to help the organization get the planned results and become the best among companies, the best in the market, to...
Corporations have distinctive ways of increasing their market rewards to sustain their operations. The construction of good leadership skills in enterprises increases the outcome since the employees exploit their potential in service delivery. In addition, people can express their opinions regarding market performance by accessing their services, which impacts individuals...
Introduction Dunkin’ Donuts is a leading American quick-serve restaurant concept and is the market leader in bagel and donut servings. Since the 1980s, the company has embraced coffee as a highly sought-after beverage in its outlets, and it posts an estimated 1.6 billion dollars in coffee sales annually (Dunkin’-Brands, 2019)....
In the modern world, there is a high level of competition in almost all areas. Therefore, companies strive to develop strategies and implement policies that would enhance their level of competitiveness. One of the companies that I think has policies contributing to its competitive advantage is the British retailer Lush....
Mediatoolkit is a professional tool for monitoring, analyzing, and managing reputation in social networks, which allows one to use all the possibilities of social media to promote and develop one’s business. Mediatoolkit monitors a large number of sources and sites, including social and web resources. Such sources of information include...
Executive Summary Childnet is a non-profit organization that has ensured that it improves the lives of many children and young people. Many children have also suffered abuse, abandonment, and neglect in their community. Consequently, these programs have been introduced to allow other individuals to take care of such children. There...
Introduction Identifying, analyzing, and assessing the strategies that managers may employ to improve the firm’s performance lies in the core of the strategic management. The fight for competitive advantage is a constant throughout this process, especially when the sector is considered saturated. From the standpoint of long-term organizational goals, said...
Introduction The present report aims at analyzing operations of the current location of Wild Dog Coffee Company to refine the demand management strategy for a new location. First, the report assesses the impact of advertising on demand using a linear regression model. Second, the report evaluates two approaches to inventory...
Building a sustainable development model requires a careful assessment of the conditions that affect the operational process and market success. By using the Coca-Cola Company as an example of a global business, the key segments of the general environment and the main forces of competition will be reviewed. Strengths, weaknesses,...
Introduction Strategic change management – is a vital part of an organization’s profile that instills growth and development. There is no strategy without a structure. Planning is a key part, yet without action, it remains pointless. Strategy Change Cycle The strategy change cycle (SCC) – is a strategic management process...
Blue Ocean Company Blue Ocean Company is a technology company offering a wide range of commodities to customers. Blue Ocean Company needs to find strategies to govern and help them retain its market position and remain afloat in the industry. Given the data collected in the report, the market forecast...
Why Heineken is developing a sustainable strategy for its sourcing operations The sustainability strategy for Heineken is called Brewing a Better World, and the critical part is sourcing locally. Through this, Heineken is supporting the sustainable development of agricultural supply globally. It depends on a supply chain that is responsible...
There are two main ruling paradigms in business that are inside-out and outside-in. This essay discusses the benefits and limitations of the strategies regarding the implementation. The inside-out approach strongly believes that the inner strengths and capabilities of the business structure will make it successful. In contrast, the outside-in approach...
Introduction For thousands of years, the Western White Pine has dominated vast tracts of land in the northern Rockies and other areas in Idaho. However, this tree species has been reducing over the last four decades, primarily due to the white pine blister and attack by the mountain pine beetle....
A company focused on further growth might have employed horizontal or vertical strategies presupposing different methods to generate benefits. The first one involves expanding existing products and services to new markets hoping to acquire new clients and guarantee an advantageous strategic position. Additionally, companies might try to enter a new...
My biggest surprise regarding the change in the funeral service is the way this industry has begun to use technology in its practice. In particular, companies providing funeral services have started to offer live online broadcasts of funerals. I think that this change happened because governments imposed social distancing and...
Introduction Corporate purchasing is the system of decision-making through which social groups identify, identify, assess, and select substitute products and vendors. Organizations acquire services and goods to representatives, consumers, or the community following organizational aims, such as production and delivery (Jonsson & Holmström, 2016). The demand for a finished piece...
Summary The COVID-19 pandemic has hugely impacted both the global and U.S. economies. The consequences of the coronavirus for the market are long-term, so businesses are still faced with the challenges of making decisions during a massive crisis. However, the pandemic has also helped companies in a way – by...
Considering the technological macro factors, the company has significantly developed the production strategy and adjusted its technologies to the changing demand of society. Initially, the company aimed at creating personal computers (Giachetti, 2019). However, with the urgent need for portable devices, the company has changed the direction of its activities...
Apple aims to expand by opening new stores and creating new products; thus, product development is a suitable growth strategy. The approach to increase the number of customers and open hundreds of new stores based on implementing new products is beneficial today. Apple is well-known for the innovations they continuously...
Working capital can be defined as the organization’s existing assets minus the current liabilities. The assets involve cash flow, short-term investments, accounts receivable, and inventories. Working capital management is a criterion critical to every organization in ensuring the firm is working proficiently. This is guaranteed when the one in charge...
Introduction Every business needs effective strategic planning to capitalize and add value to the organization. Ginter et al. (2018) admit that adjusting strategies to the changing external and internal conditions is sometimes necessary. This information means that a firm should rely on statistical data to achieve the most significant benefits...
Introduction Online retailing is a commercial enterprise where only the best firms thrive because of its ever-changing landscape. A company such as Amazon has proven to belong to the class of the best online retail business with its competitive advantages. Since its creation, Amazon has been at the top of...
SWOT analysis, SMART objectives, market segmentation, and strategic positioning have become necessary for business. I will reflect on how they positively affect personality and organization. From the professional point of view, I have benefitted the most from using the SMART objectives technique. It is more suitable for personal application than...
Introduction Strategic management is a vital organizational function that incorporates a detailed process of formulating and implementing plans and policies for achieving goals and objectives. The retail industry is influenced by several factors that may result in uncertainty, especially from a business’ macro-environment. Therefore, it is mandatory for managers to...
Competition in business is inevitable, and companies have to ensure that they develop strategies to help them gain a competitive advantage. For instance, companies have developed new marketing approaches, such as using social media to attract more clients and increase their market share. Additionally, aspects such as elasticity of demand...
LEGO’s Strategy and Key Characteristics of Strategic Management Strategic management has become one of the major frameworks for allocating resources in the way that benefits the company best in the long term. In relation to LEGO Group, which has experienced a period of crisis before focusing on advanced and innovative...
The development of any business requires a carefully thought-through strategic business plan. These strategies differ for every company, depending on their target market, the products they offer, and the format of the company. Today, virtual businesses are growing in popularity, and it is essential to know how to develop business...
Bowman’s strategic clock Bowman’s strategic clock is a model that helps to understand how companies compete in the market. By looking at the different combinations of price and perceived value, it becomes possible to start positioning to create and strengthen a competitive advantage that emphasizes and amplifies the organization’s competencies....
Strategic management is a discipline in the business sphere that entails initiating, executing, and assessing policies to see that the business has met its intended objectives. Strategic management in its nature mostly involves the top management officials of the business. The top management is responsible for the decision-making, and hence...
Introduction Strategy in most generic terms can be identified as the long-term direction of the firms and it defines the business scope of the firm specifying the path to be followed by it in the long-term. Strategy enables a firm to consolidate its available resources to gain the capacity to...
Introduction During the past few decades, researchers have shown their considerable interest in the “strategic management”, which encompasses the analysis of organization’s competitive environment, and evaluation strategies’ which helps the organization to achieve the excellent performance. The term “strategic management” itself demonstrates its gist of handling all undertaken efforts tactically....
Abstract The research on the internationalization of the large companies explored the relations between the adoption of a global orientation and strategic thinking. However, there was difference in opinion between those arguing that there is a positive relationship between the two variables and others who contended that large companies may...
Introduction Riordan global organization is a plastic manufacturer that produces and distributes plastic materials all over the world. It employs more than five hundred employees and has estimated annual earnings of over forty six million dollars. Riordan manufacturing plants are located in Georgia, Michigan, Albany, China, among others countries. It...
Abstract Corporate strategy has long been accepted as being essential for the success of large organizations that indulge in what may be considered as being relatively sophisticated undertakings and often issues related to strategy have been ignored in small businesses, with owners and managers being too tied – up with...
Introduction Balanced scorecard (BSC) is a framework for strategic performance management used to help companies monitor performance and execute its strategy (Brown, 2007). It is among the most widely used tool with high satisfaction ratings. BSC divides performance monitoring into four perspectives: Financial perspective: focuses on financial goals of the...
In 1992, Robert Kaplan and David Norton introduced the balanced scorecard. These researchers aimed at creating a concept that would capture both financial and non-financial performance measures in organizations. Firms that have implemented and used balanced scorecard have been able to understand and communicate their strategy, measure the elements of...
Introduction Earlier theories relating to competitive strategies of manufacturing organizations depended on several rational assumptions such as (a) basic reason for the existence of a firm is to produce something of value, (b) manufacturing has a critical role to perform in the creation of that value, (c) since a firm...
Company current position FedEx Corporation is a delivery service company that is renowned worldwide due to the provision of the articulate small parcel and document transport. It is the first company to be awarded the Malcolm Baldrige national quality award in the service category. Also, FedEx is considered as the...
Introduction SOA – Service Oriented Architecture and ERP – Enterprise Resource Planning are two domains in IT that have changed how organizations interact with applications. SOA provides a means to unify massive business processes by creating structures of large applications into services or smaller modules. Once the application has been...
Research is vital for service industries which can be explained by the ever-changing character of business situation in this market. Without sufficient business research, it is impossible for commercial organizations to determine which products and services will be important for their potential customers during particular period. Overall, research can be...
Abstract Outsourcing may seem to be an extremely advantageous course of action in light of the current economic recession that is prevailing globally (Sparrow 2003), but if the appropriate measures are not taken before the actual process of outsourcing is initiated; the consequences of the outsourcing may turn out to...
Clayton County Library System The Clayton County Library System has six main branches, which are situated in different parts of the state of Georgia. It is headquartered in Jonesboro, GA 30236, with the head office branch being the largest of the six. The current director of library services is Rosalind...
Opening Statement Public libraries continue to attract millions of users as demonstrated by their heavily trafficked websites and the ability to remain among the most trusted public institutions not only in the United States but also globally (Clark & Davis, 2009; Goodman, 2008). Allen (2003) employs the public choice theoretical...
Introduction This paper provides a brief description of the Clayton County Library System. It then discusses the strategies used in the process of analyzing stakeholders and the groups that are among the most important stakeholders in a strategic planning process. A Brief Description of Clayton County Library System Clayton County...
Introduction This paper discusses issues that are often related to the initiation of strategic planning processes and the clarity of mission statements. In the process, it discusses three guidelines that are used during strategic planning initiatives. A Brief Description of Clayton County Library System Clayton County Library System is one...
Introduction Wal-Mart is operating for the last 49 years as the largest and most profitable corporation than the other ones in the world. The genesis of Wal-Mart’s success started when they opened their branches in small towns. However, then, they were ignored by their competitors. Their operational approach was also...
Introduction Communication strategies are crucial in organisations, particularly in the information age. Organisations are ever becoming complex as they constantly look for mechanisms of becoming competitive. One of the ways of gaining a competitive advantage is by “discovering and implementing a communication strategy that supports company business objectives for its...
Introduction Management of strategy in the field that aims at enhancing the company’s initiatives that are carried by general managers on behalf of the stakeholders through involvement and utilization of resources in order to enhance a company’s performance. Through management of strategy, an organization ends up specifying its mission and...
Introduction According to Bucley (1991), the increasing attention towards research on various structures, control of alliances and cooperation between firms has led to enrichment of international business studies. International Business research shares the view that there is still lack of conceptual integration, as well as empirical support concerning normal operations...
Introduction It is crucial to agree that organizations should adjust to the changing business environment to remain competitive. Concurrently, competition is widespread in any industry and economic conditions also change regularly. In this context, organizations that can hardly adopt the mentioned business dynamics are disadvantaged. It is important to create...
Abstract Since entering Vietnam market, Coca-Cola has been trying to increase its market share, as well as its sales volume. Venturing into foreign markets is sometimes costly and risky thus, Coca-Cola has chosen a joint venture strategy. This has helped in reducing the risks because costs were shared besides enabling...
Introduction The ultimate aims of Change Management organizations are Successful planning, execution, measurement, and preservation of a change in the initiatives of the organization and improvement of their current ability for managing change (William, 1986). This paper evaluates change management in the Telecommunications sector Omantel in the Sultanate of Oman....
Introduction In the last few decades, the world has witnessed increased integration of the global economy which has resulted in new opportunities for economic and income growth (OECD, 2007). For developed nations, it opens new markets for goods and services. For developing countries, it contains the promise of increasing the...
Overview of the strategic triangle performance frame-working As the era of competition is ushered in, strategic planning for organizations has become a necessity. Therefore, many strategic planning models are being developed. Strategies are developed with the aim of capturing the emerging needs of organizations arising from competition and the competitive...
Introduction The current business environment is characterized by numerous changes emanating from internal and external sources. Managers have the ability to influence changes originating from internal sources. However, changes arising from demographic, economic, environmental, and political forces are beyond the managers’ control. This paper outlines the various aspects that XYZ...
Introduction One of the most important success factors in the next five to ten years is strategic focus. It is pertinent to mention that not many business organizations are keen in maintaining strategic focus in their long term operations. A company that has a strategic focus is capable of facing...
Introduction This essay presents an analysis of steps that are taken in preparing strategic plans. In this case, the analysis has focused on the 2012-2017 strategic plan of Texas State University Library. The main purpose is to analyze whether or not the strategic planning process of the library followed the...
Introduction Strategic administration involves a group of continuous deeds and all-inclusive procedures that businesses deploy to categorize and align possessions in an orderly approach. Actions in strategic management are aligned with the organisation’s mission, vision, and plans (Dess, Lumpkin & Taylor 2005). Such activities change a static plan into an...
Introduction and Research Question The global business environment is dynamic with globalization and technological changes affecting many businesses. Due to these changes, firms must establish the best strategies that can sustain their objectives to the future rather than making them quit the market. Following these challenges, firms have increased competitiveness...
Introduction Fun is one of the most crucial human behaviors that affect the way they behave when accomplishing their roles. Human beings get satisfaction when something makes them happy. In fact, this is why people use a lot of money for holidays where they visit places such as comedy clubs....
Introduction Both public and private sector organizations embrace transformative change to enhance their success in the long term. This paper identifies and evaluates factors that inhibit or support transformative change in public organizations. Clayton County Library System is deployed as a case example. It first offers a description of the...
Abstract While developing the hiring process, it is necessary to select persons whose values, skills, knowledge, and abilities can be discussed as congruent not only with the certain position but also with the organization’s objectives. Dr. Eric Weston and Dr. Emily Weston-Green, the founders of the Weston Family Practice Clinic,...
Abstract The invention of information technology systems has brought numerous results to organizations; when the right level of technology is implemented, chances of effective and improved business are high. ERP are information systems strategies that aims at integrating business processes for effective business processes however, they have been problematic for...
Introduction Many firms struggle to start and establish business with continued growth in the market. The strategic departments must realize and successfully use the gap analysis tool to grow the organization. It should be a continuous process that allows the organization to gauge its current status versus its desired one....
Introduction to Amazon Amazon, which is a United States incorporated company, has its main offices in Seattle, Washington, DC. The corporation is the main retailer business that offers its services in an online environment in the US. It started its business as a bookstore before diversifying its products. Today, Amazon...
Executive Summary This paper presents a critical synthesis of different articles on the application of the strategic choice theories in contemporary international business economics and management. The strategic choice theory was conceptualized during rigorous industrial relations dynamics in the United States. Prior to this theory, the business practices were characterized...
Introduction The college functioned entirely in English and was regulated under the terms of a five years Service Agreement between an American community college and the equivalent of the Ministry of Education in the host country. A major consequence of this was a huge foundation program of English language acquisition...
Introduction Contemporary organisations have experienced rapid changes in different areas of business. Managers charged with overseeing the smooth running of such organisations often encounter complex and challenging pressures and opportunities. Such pressures and opportunities do not happen in a vacuum. Rather, they often require the organisation to institute changes that...
Executive Summary Objectives The accounting software-as-a-service (SaaS) industry is highly saturated and presents low barriers to entry. Thus, the level of competition is high. Skwile is a London-based fintech company offering a single product, CaFE (Cash Flow Engine), a software extension for cloud-based accounting applications that acts as a digital...
Introduction Environment analysis is an important element of strategic management. An appropriate analysis of environment can provide useful insights and contribute to the company’s competitive advantage. The following paper provides a partial PESTEL analysis of the UK as a viable direction for entry by the Dubai-based Eniverse Technologies. PESTEL analysis...
Introduction Since the advent of the industrial revolution, business enterprises have been dependent on technology. However, that dependence on technology in the 21st century has reached unprecedented heights. Today, the internet presents a business platform with limitless opportunities for people to carry out business transactions. Online presence is no longer...
