Strategic Management: Types of Strategies, Competitive Drivers, and Internal Analysis Tools

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Discuss the various types of strategies in context to the schools of strategy and strategic
concepts..................................................................................................................................1
TASK 2............................................................................................................................................2
Determine using concepts and relevant models along with investigating competitive drivers
and the effect on the organisational competitive position. ....................................................2
TASK 3............................................................................................................................................5
Different relevant internal analysis tools are used in order to provide appropriate
conclusions.............................................................................................................................5
TASK 4............................................................................................................................................8
Discussion of all the possible strategies that could be followed by company to defend its core
business...................................................................................................................................8
TASK 5..........................................................................................................................................11
Evaluation of the different resource implications and different recommendations that the
company should address and critical investigation and application of various strategic
implementation models........................................................................................................11

INTRODUCTION
Strategic management is a way in which company is developing as well as managing
strategies for gaining competitive advantage over other rival companies (Aguinis, Edwards and
Bradley, 2017). It is mandatory for a company to develop impelling and strong business
objective with the motive of full fill organisational requirement in more advanced and effectie
manner. It will be very helpful in accomplishing organisational goals as well as enhancing
business performance. Company should develop business strategies after completely analysing
internal and external business environment. This will be very helpful in ensuring that company is
developing plans and strategies for managing their operations. Chosen company for this report is
Marks and Spencer. It is one of the dominant company which is providing its high quantity
fashionable products to targeted customers. The company was established in 1884 and founder of
this organisation is Michael Marks and Thomas Spencer. This company is developing different
types of products such as ready to wear cloths, fashionable footwear, accessories and many other
fashionable products. Headquarter of this company is located at London, United Kingdom. This
report focus on various kinds of strategies in context to schools of strategy. In this various
relevant models has been used in order to determine the impact of competitive position of
respective company. In this internal analysis tool has been used as well as strategic choice
models in order to achieve a position at competitive level. This report also consist of resource
implications of selected strategy by using different models.
MAIN BODY
TASK 1
Discuss the various types of strategies in context to the schools of strategy and strategic concepts
Strategy can be describe as a plan of action that is specially desired to acquire specific
goals and objectives of the company. It is mandatory that respective company is building strong
strategies to conduct activities of business in better manner. Strategies play a very crucial role in
company as it affect overall functioning of organisation (Ansoff and et. al., 2018). This will help
in analysing the uncertainty and developing plan which will lead to enhance business
performance as well as increase its profits. Strategies are significant for Marks and Spencer
company as it will help in foresee of future and taking better business decisions which will lead
to deal with challenges in impelling and cost-effective manner which will cause successful
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achievement of desired goals and help all employees to work in correctly manner. Strategies
developed by respective company will be helpful influencing high range of customers towards
business. This will lead to a competitive advantage over other rival companies. Strategies can be
define as a concept through which an organisation analyse its business environment as well as
collecting appropriate data in order develop a useful in order to create a plan that will help in
accomplishing set targets (Baumgartner and Rauter, 2017). There are different types of strategies
used by Marks and Spencer company in order to conduct business operations at effective and
efficient manner. Different strategies in context of respective company is discussed below which
will lead to business development.
Transforming business – It is very useful in transforming enterprise as well as its
operations so that employee is able to perform business activities in better manner. By using this
strategies Marks and Spencer company is able to perform business in appropriate manner. In
transformational strategy respective company is developing skills and capabilities of employees
in order to enhance their overall performance. In order to successful implement these strategies
Marks and Spencer company needs to manage risk so that these strategies can be successful
executed and desired goals could be achieved.
Creating values – Marks and Spencer company is creating values in its business in order
to provide better and effective products to customers. Implementation of such strategies wil lead
to friendly environment for employees. pany is using differentiation strategies with the motive
of providing valuable as well as unique products to customers (Bettis and et. al., 2016). This
leads to increase competing advantages against different rival companies.
TASK 2
Determine using concepts and relevant models along with investigating competitive drivers and
the effect on the organisational competitive position.
It is very necessary for a respective company to perform business functions in more
efficient manner. It is important for respective company to develop necessary strategies so that
they can successful accomplish set goals. For achieving set goals respective organisation needs
to identify as well as assess business environment. Several factors of macro environment which
can have major consequence on business. In order to analyse all key factors of external business
environment respective company needs to evaluate PESTEL analysis.
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