Concepts and Tools of Strategic Management Assignment

Added on - 16 Sep 2019

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ContentsIntroduction......................................................................................................................................2LO1- Concepts and Tools of the strategic Management................................................................3Porter’s five force model..............................................................................................................3Competitive analysis....................................................................................................................3Intensive strategy.........................................................................................................................4BCG matrix..................................................................................................................................5Integration strategy......................................................................................................................5SWOT..........................................................................................................................................6LO2- Pest Analysis..........................................................................................................................6LO3 Strategic planning process.......................................................................................................9Questions and activities...............................................................................................................9Questionnare................................................................................................................................9Diagnosis....................................................................................................................................19Policy formulation......................................................................................................................19Plan preparation.........................................................................................................................20Preparation of the annual operational plans...............................................................................21LO4- Implementation and evaluation of the strategies..................................................................23Conclusion.....................................................................................................................................27References......................................................................................................................................281
IntroductionThe education sector plays a very important role in the growth of the nation and it is imperativeto incorporate new strategies as per the changing environment. New facilities are introduced bythe company X in order to provide best education to the youth and government is also spendingmore on education sector since past few years. E-classrooms have become significant these daysfor providing better classrooms to children. For such classrooms, expert personnel are required tobe appointed to deal with such machinery equipped in e-classrooms. Students find it easy andconvenient to study in such environment as it is full of life and enjoyment.Strategicmanagementin the development of the educationis the art of managing all strategies, plans,investments and risks of markets and also involves the asset allocation.Strategic managementhelps to find thebest planto the organizations as well as the individuals as per the ability toundertake risks. The main objective of Strategic management is to reduce the risks and focus onmaking maximum profits. All these decisions can be taken to by making and analyzing thedifferent strategies.Effective organizations have strategies to mark and maintain a viable andfeasible market for their products and services. For fulfilling its aims which generally includeprofit maximization, an integration strategy is a must and is of various types and forms. For mostof the organizations, the dynamic process of adapting to market changes and uncertainty of themarket environment, organizational reorganization and integration is an important tool ineffectively maintaining and efficient alignment with the ever changing environment. Marketingis a business process in which the loyalty of the customers, relationship with clients and thebrand value of the company is established by using different marketing activities.Also, the survey and the interview activities are conducted in the colleges to to analyze thestrategic planning importance. The participants involved in this survey are the expert2
professionals and all the viewpoints given by them on the strategic planning process discussed inthis reportLO1- Concepts and Tools of the strategic ManagementPorter’s five force modelThis model is about the various substitutes in education sector, we come to a conclusion withtwo aspects. There are two major financers in the field of education and they are publicauthorities and private sector. The role of government is more in developing education sector andthe role of private authorities is less as compared to the government or other local agencies. Theindustry rivalry is less and the number of educational institutes is less in number as compared toother countries. The inclination of people towards education is more in today world’smodernization.. This is the reason the level of competition is less in many countries. The threatof entry for rivals is more in the developed countries. The individuals are very conscious atproviding their children with best education and getting them admitted in best institutes. It hasbeen recently seen that the countries are getting inclined towards this sector as well, but it willtake a few more decades to the one city as compared to the other cities to rise up in this sector atpar with the other cities[CITATION TBu161 \l 1033 ].Competitive analysisThe Education sector is a developing sector and has many good prospects and people are willingfor example the foreign investors are willing to invest in this market to get better output andprovide quality education to students. Many cities like Dubai has recently come up in front in3
this sector and has been doing well since 2005 and making changes according to the dynamicenvironment of the society. The city has given many good facilities to tits students as studentsare considered to be the future of the nation. The number of educational institutes is quite decentin the city and almost every institute provides best services to the students.The educationminister after regular intervals keeps on reforming the techniques for improving education sectorand provides best services to the students. Not only the normal students, the city also works forproviding best education to students who are disabled and are mentally not at par with the normalstudents[CITATION Man17 \l 1033 ].Intensive strategyMarket penetration is both a measure and a strategy. A business will utilize a market penetrationstrategy to attempt to enter a new market. The goal is to get in quickly with your product orservice and capture a large share of the market. Market penetration is also a measure of thepercentage of the market that your product or service is able to capture. There are many cities isinvolved in penetrating itself into the market and has been inviting the other investors to invest inthis market. The city’s every year investment in education sector keeps on increasing year byyear to stay at par with other cities. The company X has been into this sector since a long timenow. They do not have to penetrate themselves into the market but have to keep reforming thealready established strategies to stay in the market for long. The company X is engaged inintensive market penetration. They are a new player in the industry, but are investing substantialmoney into building an education industry[CITATION RQu14 \l 1033 ].The company X believesthat the industry will be worth $700 USD annually so is investing heavily to attract clients from4
target several countries (Russia, India, the Gulf, and Nigeria). For now, market penetration isstrategy but they aim to be a product innovator as a point in the future.BCG matrixThe company X has been into this sector since long and doing well in the business. The companyX has been using best techniques to stay in the market and develop the children to make themrun with the world. Various expert personnel are appointed to introduce new strategies that suitthe environment of the city and the individuals and after conducting a comprehensive researchprograms, various techniques are analyzed[ CITATION NHa08 \l 1033 ]. The techniques are evenanalyzed taking help of various thinking techniques which can be brainstorming, morphologicaltechniques etc.Integration strategyThe company X witnesses a vertical integration as it has effective control on the activities of thepeople that they acquire their techniques and products from. Since demand in internationalcountries is high it is necessary to have a higher vertical integration control. In case ofeducational facilities there is less of a horizontal integration because each organization has itsown functioning and therefore there is less of any control on similar organizations and sincethere are many seen in the many countries education sector it is less seen in the form ofhorizontal. There is a lot of backward integration seen in case of other international market sincethere is buying of new techniques in the everyday life of the business[ CITATION Tab12 \l 1033 ].5
SWOTThe weakness of the Company X education sector is that it has not created a platform foradvertising the facilities that they have the potential to offer and therefore they do not promotetheir education sector on an international level which leaves the attention of many people whowould have otherwise chosen X. Also the fee of the institutes is very high and therefore peoplewho cannot afford so much might have to suffer due to this very cause. The company X faces athreat from other countries and cities across the globe which provide the same facilities but at alower cost. On the other hand, the problem faced by the international countries the problem oflanguage. So many students fail to get the admission they demand because of the lack ofcommunication.LO2- Pest AnalysisA Business Environment of Company X with regard to compete with the international marketincludes the PEST analysis which consists of Political, Economic, Social, technological, factors.These all factors are the very important part of the strategic management planning as thesefactors help to analyze the situation of the market and help to control the business from negativeimpacts. External factors are the variables which affect the business of Company X in thedevelopment of the education area by influencing the operations and performance of thecompany. PEST analysis is a tool that helps in the analysis of the external factors that affects thebusiness environment which has been discussed below:Political- Legal Factors6
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