Strategic Management Assignment
Added on 2020-02-24
20 Pages3422 Words113 Views
Running head: STRATEGIC MANAGEMENTStrategic ManagementName of the StudentName of the UniversityAuthor Note
1STRATEGIC MANAGEMENTTable of ContentsIntroduction......................................................................................................................................2Summarize the processes of developing strategic management of an organization plan................3Company Vision and Mission.........................................................................................................3Company SWOT Analysis..............................................................................................................4Defining the company Resources, tangible, intangible resources and organizational capabilities.7Competitive Advantage of the company.......................................................................................10Defining and Applying the VRINE model to your company’s resources.....................................11Conclusions....................................................................................................................................13References......................................................................................................................................14
2STRATEGIC MANAGEMENTIntroduction Strategic management is the formulation and making and devising the plans and therebyimplementing such plans and goals by the management and the board of directors. The companydoes this by analyzing the internal and external environment where the organization operates andcompetes1.This involves analyzing the strength and weakness of the company and formulation andexecution of various plans so that the company is able to successfully implement get the desiredobjectives. This report focuses on the internal organizational resources and capabilities, which isimportant to achieve the organizational objectives and vital for formulation of strategicmanagement2.IKEA is one of the most famous brands, which has smart and affordable home furnishingfeatures. The IKEA has various products, which is affordable, durable and designed in a moderntechnology. The brand is in all over the Countries and which demonstrates its passion for qualityand value. The company’s product shows the value and its quality. The company is very smart atkeeping customers’ value high and thereby delivering high quality products. The most importantis their strategy, which has helped them to expand internationally and position itself as favorite1Yilmaz, Ayse Kucuk, and Triant Flouris. "Enterprise Risk Management in Terms ofOrganizational Culture and Its Leadership and Strategic Management."Corporate RiskManagement for International Business. Springer Singapore, 2017. 65-112.2Collins, P. (2002) The cost of war. Journal of Politics, vol. 1, no. 1, June, pp. 20-40.
3STRATEGIC MANAGEMENTof the modern generation modern generation. The IKEA dream has three components – itsvision, its business idea and its human resource idea3.Summarize the processes of developing strategic management of an organization plan IKEA high and forward-thinking strategy has made it into the top furniture seller in theworld. It has moved its model into various places like no other retailer on the planet. Thefurniture are very impressive and they have expanded in almost 298 stores spreading over 28countries.Few crucial aspects to IKEA success1.Solving any problem related to the customer2.The furniture is very cheap and reasonable3.They are able to target the right people or the right demographic4.The stores are spread all over the worldThe factors influencing are as followsPolitical factorsIncreased of globalization and protectionism which has presented a challenge as well asopportunities to IKEA.The challenges are very competing against the unknown sources ad it willbe competing against the unknown forces and sourcing the best quality financially viableproducts from across the world. IKEA can enter emerging country markets through partnership3Collins, P. (2002) The cost of war. The Straits Times. Vol. June, pp. 20-40.
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