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Analysis Strategic Management Approaches

   

Added on  2021-06-16

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Running head: ANALYSIS OF STRATEGIC MANAGEMENT APPROACH ANALYSIS OF STRATEGIC MANAGEMENT APPROACH Name of the Student Name of the University Author Note
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ANALYSIS OF STRATEGIC MANAGEMENT APPROACH1 Executive SummaryThe report is based on the analysis of the various approaches to strategic management that areused by the modern organizations. The three approaches that are taken into consideration are,stakeholder approach, the dynamic capabilities approach and sustainable approach. Theapproaches are further explained with the help of the examples of three companies which areusing the three approaches. The organizations which are taken into consideration are,Starbucks, Apple and Ikea.
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ANALYSIS OF STRATEGIC MANAGEMENT APPROACH2Table of ContentsIntroduction....................................................................................................................3Analysis of the different approaches..............................................................................4Examples of organizations using these approaches...................................................6Conclusion......................................................................................................................9References....................................................................................................................10
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ANALYSIS OF STRATEGIC MANAGEMENT APPROACH3IntroductionThe concept of strategic management is mainly based on the analysis of the process ofmanaging the resources of an organization so that the objectives and goals can be achieved inan effective manner. This thereby involves the outlining of various strategies which have tobe developed for the effective management of the organizational processes. The mainobjectives that are based on the implementation of strategies are related to the culture of thecompany and the competencies that are possessed by the employees (Hubbard, Rice andGalvin 2014). The organizational structure on the other hand also affects the achievement ofthe goals. The companies require to manage the changes that take place in the company andthe different strategies that can be applied in the changing environment of business (Hill,Jones and Schilling 2014). The top level managers are responsible for the effective implementation of thestrategies which can help in achieving objectives. The employees of the company need todedicate themselves towards the formation of successful strategies. The process of strategicmanagement also involves the effective communication of the goals of the company to theemployees and the other stakeholders as well (Wheelen et al. 2017). The process of strategicmanagement in the companies need to be fulfilled with the help of various approaches. Thethree different approaches based on the management of strategy that will be used in theanalysis are, dynamic capabilities approach, stakeholder approach and sustainable approach(Meyer, Neck and Meeks 2017). The analysis in the report will be further based on the detailed discussion about theseapproaches and the ways by which they are used in different companies. The threeapproaches will be further explained based on the examples of real-life companies that usethem in different situations.
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