Strategic Management: Theory, Practice, and Case Study Approach

Strategic
Management

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY..............................................................................................................................................3
1. Comparison of theory and practice......................................................................................................3
2. Case study approach............................................................................................................................4
3. Recovery plan......................................................................................................................................5
4. Risk management strategy..................................................................................................................6
CONCLUSION...............................................................................................................................................7
REFERENCES................................................................................................................................................8

INTRODUCTION
Strategic management can be defined as the process of managing a business in
strategic manner so that all the objectives could be achieved. In order to manage all the activities
that are performed by an organisation it is very important for the managers to make sure that they
are able to analyse the progress as it helps to form strategies for future. By paying attention
towards it, all the entities will be able to meet the desired goal which is decided to be
accomplished in upcoming period (Ginter, Duncan and Swayne, 2018). The organisation which
is selected for this report is Bentley which is one of the largest automobile companies which are
operating business all around the world. The entity is mainly established in United Kingdom.
This assignment covers various topics such as comparison of theory and practice, application of
case study approach, recovery plan etc. Additionally, this report also covers the risk management
strategy which could be adopted to deal with all the risks.
MAIN BODY
1. Comparison of theory and practice
Bentley is one of the largest companies in the world which is delivering different types of
motor vehicles to the customers in different countries. It is very important or the entity to make
sure that it is able to analyse that all the theories and models are applied by it successfully. In
order to make sure that all the operations are executed by it properly and competition s analysed
within the industry appropriately the entity can use different types of frameworks. One of them
which could be selected by Bentley is Porter’s five force model. There are various elements of it
which are focused below in context of Bentley:
Rivalry within the industry: Automotive industry is very large so the entities which are
operating business within it is also very high. All of them are competitors for each other as they
compete for the purpose of growing business sand accomplishing all the business goals. Some of
the major players in the industry are Volkswagen, Jaguar Land Rover, Aston Martin, Tesla etc.
Due to the large number of competitors for Bentley the rivalry within the industry for the entities
very high. It is very important for the company to make sure that it deals with this force properly.
For this purpose, the organisation will be required to formulate effective policies to attain
competitive advantage (Hitt and Duane Ireland, 2017).
Threat of new entrant: For all the companies it is very important to be aware of all the
new companies which will be launching same products in the industry. The size of automotive
sector is very large so the funding required to enter in it is very high. It is the main barrier which
will be faced while entering in this industry. Due to this, the threat of new entrant for Bentley
will be very low.