Strategic Management: Approaches, Models and Tools for ASOS PLC

Strategic Management

Table of Contents
Introduction:.....................................................................................................................................1
Main body.......................................................................................................................................1
Difference between Descriptive as well as Prescriptive school of thoughts in association with
strategic management...................................................................................................................1
Approaches to the strategic management:...................................................................................2
Describing key models and tools of strategic management as well as identifying the key
features of classical perspective on strategy................................................................................3
key features of classical perspective:...........................................................................................7
Explaining the drivers of internationalisation along with presenting different options available
to enter into external marketplace................................................................................................7
Conclusion.......................................................................................................................................9
References .....................................................................................................................................10

Introduction:
The term strategic management is defined as the process of making goals and decisions
with the objective of transforming company into more competitive state. The main aim of
strategic management tools is to allow proper deployment of staff as well as right resources in
order to attain long term organisational goals in most effective manner. In addition to this, the
practise of strategic management supports the firm to reduce risks by taking actions as soon as
possible. For this report, ASOS PLC is taken into consideration. The firm is recognised as global
brand for selling fashions and cosmetics products through the online mode. The firm deals in
various items such as womenswear, menswear, footwear and many more. The report will explain
the difference between prescriptive , descriptive and configuration schools of thought in relation
to strategic management. The report will also highlight different approaches to strategy. In
addition to this, the report will also cover key features of classical perspective on strategy along
with the key models of strategic management. Moreover, the report will also evaluate the
PESTLE as well as SWOT model for framing business strategies(Emeagwal and Ogbonmwan,
2018). The report will also analyse the international drivers along with explaining about different
entry options for entering into international market.
Main body
Difference between Descriptive as well as Prescriptive school of thoughts in association with
strategic management
Basis Prescriptive school of thought Descriptive school of thought
Definition This approach lays focus on
planning as well as logical
thought process in order to
develop and properly
implement business strategies
for attaining competitive
position.
Under the descriptive
approach, it focus on the
evaluating the real life
application of strategic
theories so that the firm can
assess about how the strategy
can be put in practise in
solving real life business
problems.
1

Strategic decision making In this, the strategic decision
making power is basically
undertaken by top level
managers rather than the lower
level managers(Makadok,
Burton and Barney, 2018).
In this, the decision making
process flows from bottom to
top in which the lower level
managers are also invited to
influence the strategic decision
making process.
Desired outcomes The main objective of
Prescriptive strategic managers
is to formulate a suitable
strategy so that it will lead to
attainment of high
performance.
On the other hand, for
descriptive strategic managers
the high performance and
efficiency matters very much.
The focus is more on building
feasible strategies in order to
survive in real market
conditions.
Process of strategy formulation
vs content
The primary focus of the
organisation that adopts this
style lies in strategy
formulation activity and
process.
On the other side, the
Descriptive manager pays
more attention implementing
strategies rather than putting
attention on decision making
process.
Approaches to the strategic management:
The strategy development process can be classified into deliberate or adaptive approaches
but the desired result which is common among every approaches of strategic development
process is to enhance profit levels(Hitt, Ireland and Hoskisson, 2019). The four approaches
which is taken by ASOS Plc company for making strategy are explained below:
Classical:
The classical approach for formulating strategy is considered as deliberate process in
order to maximise the profit of company. It helps the firm to analyse factors of internal and
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