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Alternative Approaches to Strategic Management

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Added on  2020-10-23

Alternative Approaches to Strategic Management

   Added on 2020-10-23

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ALTERNATIVE APPROACHES TO STRATEGICMANAGEMENT
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EXECUTIVE SUMMARYStrategic management is the process of achieving competitive advantage of businessorganisation. It is a continuous planning, monitoring, and analysing activity which provide anecessary information in order to meet future goals. In this current era, continuous developmentof innovation, emerging technologies and increased customer experience put pressure onorganisations for developing strategic planning to remain successful in business market. Withthis report, it can be summarised that for adopting necessary planning in operational strategy,strategic approaches play an important role. In this report, three approaches that is sustainable, stakeholder and revolutionary havebeen selected and analysed. Benefits, history and limitations of each approach has beenexplained in this report. In sustainable approach, example of Toyota organisation has beenselected and explanation is provided on its contribution towards development of environmentneeds. Further, in this report, evaluation is provided on stakeholder approach in which BBCorganisation example have been selected. Strategies which developed by BBC organisation inorder to meet expectations of stakeholders is explained in this report. At last, explanation isprovided on revolutionary approach in which example of Thomas Cook organisation has beenelaborated.
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................2MAIN BODY...................................................................................................................................2SUSTAINABLE APPROACH........................................................................................................2Benefits...................................................................................................................................3Limitations..............................................................................................................................4An example of organisation....................................................................................................4STAKEHOLDER APPROACH......................................................................................................5Benefits...................................................................................................................................5Limitations..............................................................................................................................6An example of organisation....................................................................................................6REVOLUTIONARY APPROACH.................................................................................................7Benefits...................................................................................................................................8Limitations..............................................................................................................................8An example of organisation-..................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................111
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