Strategic and Operation Management Assignment

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Added on 2020-04-01

Strategic and Operation Management Assignment

Added on 2020-04-01

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Running Head: Strategic and Operation management Strategic and OperationManagement

Strategic and Operation Management Assignment_1

Strategic and Operation management 1ContentsExecutive Summary.....................................................................................................................................1Introduction.................................................................................................................................................2Approaches to strategic management........................................................................................................3Stakeholder Approach to strategic management........................................................................................3Example of stakeholder approach...............................................................................................................5Dynamics Capabilities..................................................................................................................................5Example of Dynamic capabilities approach.................................................................................................7Sustainable Approach..................................................................................................................................7Example of sustainability approach.............................................................................................................9Limitation of approaches.............................................................................................................................9Conclusion.................................................................................................................................................10Recommendations.....................................................................................................................................10References.................................................................................................................................................12

Strategic and Operation Management Assignment_2

Strategic and Operation management 2Executive SummaryStrategic management is process with the aid of which organizations learn to develop andimplement strategies to their business so that they can earn optimum returns. Standard linearstrategy in an organization is strategy under which business plans and implements their strategiesin an organization accordingly. Some other models of strategic management are stakeholderapproach, dynamic capabilities and sustainability approach; organizations like Coca-Cola, Adobeetc. uses these types of approaches to further gain greater customer base. Apart from that thereare certain limitations which negatively reflect the growth of the company. Resulting to whichthese approaches should be used systematically in order to drive benefits for the organization.

Strategic and Operation Management Assignment_3

Strategic and Operation management 3Introduction Strategic management is the process of implementation and formulation of major goals andinitiative aimed at the top level management of the organization. These are the managementactions which the top management takes on behalf of the owners of the company and theirmotive behind such actions is to formulate efficiency in the internal and external environment ofthe organization (Mithas, Ramasubbu, and Sambamurthy2011). Michael Porter identified threebasic principles to determine the strategic management, these principles are:Creation of unique and valuable position in the market.Compromise activities to archive satisfaction and determine activities which shall not bedone.Creation of profit by aligning the company's activities with a strategic mission. The linear model of this approach focuses on the planning process and achieving goals as per thestrategy defined. Further talking about the strategic management, there are a few limitationswhich the business faces like the process of strategy initiate a direction in which the companyhas to run. Irrespective of the chances which a company receives in their way or shortcomingsthey have to move to the same path. Also, the fact is that the growth is not definite, as there aremany fluctuations present in the environment (Slack 2015). Further, the report provides anoverview of the different strategic management approaches, its explanations and implication indifferent companies.

Strategic and Operation Management Assignment_4

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