Ask a question from expert
Concepts and Tools of Strategic Management
34 Pages7662 Words428 Views
Added on 2019-09-16
Concepts and Tools of Strategic Management
Added on 2019-09-16
BookmarkShareRelated Documents
ContentsIntroduction.................................................................................................................................................2LO1- Concepts and Tools of the strategic Management.............................................................................3Porter’s five force model.........................................................................................................................3Competitive analysis...............................................................................................................................3Intensive strategy.....................................................................................................................................4BCG matrix.............................................................................................................................................5Integration strategy..................................................................................................................................5SWOT.....................................................................................................................................................5LO2- Pest Analysis......................................................................................................................................7LO3 Strategic planning process.................................................................................................................10Questions and activities.........................................................................................................................10Questionnaire.........................................................................................................................................10Policy formulation.................................................................................................................................13Plan preparation.....................................................................................................................................14Preparation of the annual operational plans...........................................................................................15LO4- Implementation and evaluation of the strategies..............................................................................17Conclusion.................................................................................................................................................20Assessment task 2- Professional development plan (PDP)........................................................................21Introduction...........................................................................................................................................21Organization and its current status.........................................................................................................21Need of restructuring – Problem definition...........................................................................................23Literature review...................................................................................................................................24Strategic tools........................................................................................................................................25Process of PDP......................................................................................................................................26Role Of Manger in Restructuring..........................................................................................................27New Improve design of the organization structure................................................................................29References.................................................................................................................................................311
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. Strategic managementin thedevelopment of the education is the art of managing all strategies, plans, investments and risks ofmarkets and also involves the asset allocation. Strategic management helps to find the bestplanto the organizations as well as the individuals as per the ability to undertake risks. The mainobjective of Strategic management is to reduce the risks and focus on making maximum profits.All these decisions can be taken to by making and analyzing the different strategies. Effectiveorganizations have strategies to mark and maintain a viable and feasible market for their productsand services. For fulfilling its aims which generally include profit maximization, an integrationstrategy is a must and is of various types and forms. For most of the organizations, the dynamicprocess of adapting to market changes and uncertainty of the market environment, organizationalreorganization and integration is an important tool in effectively maintaining and efficientalignment with the ever changing environment. Marketing is a business process in which theloyalty of the customers, relationship with clients and the brand value of the company isestablished 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 expertprofessionals and all the viewpoints given by them on the strategic planning process discussed inthis report2
LO1- 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 inthis 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 education3
minister 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 fromtarget 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. 4
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 ]. 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 who5
would 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.6
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 FactorsThe Political and Legal environment of a country has a significant effect on an education sectorwhich is influenced by the political infrastructure , stability, government support, attitude of thegovernment, the intervention of the government, provision of the constitutions and foreign policyetc.The businesses feasibility is dependent on their potential to understand the laws related toproperty and to stand by them, and keeping innovation in their marketing activities by not fearingof the infringement of the laws. Each and every country has its own political and legal systemwhich poses a threat to the education system for which they have a well defined strategy tomitigate the country level risk factors. The policy of the United Kingdom government and theEU directives, such as the planning and environmental issues which consist of sustainability hasa great impact on the education sector.The Company X has established its business in providingthe education worldwide and is well focused on innovative and sustainable development whichmeets the requirement mentioned by the EU directives[CITATION Bou17 \l 1033 ]. 7
Economic Factors: The economic factors have a significant impact on the business which affects the educationsector as well as the infrastructure and growth of the economy.The government of the UnitedKingdom has used the taxation as a medium to promote the improvement of the environment.The increasing level of the education system involves the cost of infrastructure, the academicfees, the operating costs etc. For achieving this it is significant to understand that how theimproved and better design can help in enhancement of all these costs.Socio- Cultural Factors: Social- cultural factor is an equallyimportant factor that affects the education sector. The averagenumber of persons residing in villages and the narrow minded thinking of the people has greatimpact on the education development in rural areas The ageing population, an increase in crime,and well-being of people are a part of the social dimension. The latest research reveals that thehighest number of conflicts and disagreements amongst the people is because of employment .Asthe company X also offers the educational services and the social factors focus on thedevelopment of the education system by determining how much the people are ready to spend ontheir education [ CITATION UNE13 \l 1033 ].Technological Factors: Changes in technology have posed a great challenge to the companies which need to beconsidered significant by the education system. Since the competition in the market is so high.The advancement in the education and classroom technologies has a great impact on the workingpractices in the education sector, building more technologies and presentations for the educationsector. The swift increase in the use of digital tools is one of the developmentwith a great effect8
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Assignment Concepts and Tools of the Strategic Managementlg...
|30
|6691
|367
Concepts and Tools of Strategic Management Assignmentlg...
|30
|6691
|332
Business Strategy: Porter’s Five Forceslg...
|27
|5859
|128
Analyzing the Impact of Macro Environment on Organization and Strategieslg...
|16
|3629
|57
Analyzing impact and influence of macro environment on given organisation and strategieslg...
|15
|4468
|40
Business Strategylg...
|16
|5288
|69