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Strategic Management : Assignment

   

Added on  2021-01-01

9 Pages2085 Words269 Views
Strategic management

Table of ContentsINTRODUCTION...........................................................................................................................2Main Body.......................................................................................................................................31. External environment analysis of Samsung.......................................................................32. Industrial analysis...............................................................................................................33. Identifying the driving forces of change in the industry....................................................44. Analysis of competitive position as well as internal assessment.....................................55. Identifying the way company will respond to each?.........................................................6Conclusion ......................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONStrategic management is defined as the formulation as well as execution of plan bymanagement in order to support an organisation in achievement of business objectives. Itincludes establishment of objectives, evaluation of plans etc. Strategies are formed by managerin an enterprise on the basis of the vision or mission of company. Strategy management helps business entity in achieving success and fostering growth.The purpose of the study is to develop the understanding about strategic management in contextof Samsung company. There are the several tools s as well as techniques have been used bymanager in an organisation in order to recognise the strategic position of an enterprise.Main Body1. External environment analysis of SamsungPestle is the technique which can be used for analysing the external environment andmeasuring the impact of several elements on the business operation of Samsung company.Political factors: These macro environmental constituents have major effect on the businessoperations of company. The Samsung company has to face the several issues as well aschallenges due to the changes in political factors in domestic country. This factors havesignificant influence on the business performance. It is required by an enterprise to formulateeffective strategies and to comply with rules formed by the political parties.economic factors: As Samsung company is operating in developing country , the changes in theeconomic condition of nation has direct impact on the profitability of firm. Decrease in theincome level of customer has direct influence on the demand for product or services offered bythe company (Bjerke and Renger,2017). It is required by marketing manager in an enterprise todetermine and set prices of goods on the basis of analysis of the economic situation in the nation.Social factors:Samsung being a International company has to act locally meaning that it has hadto adopt a Global strategy in many emerging markets. Changes in the social factors have directeffect on the business operation and influence on product planning.Technological factors: Samsung company has able to gain popularity due to its innovationskills. Technological advancement has supported firm in bringing positive improvement inbusiness system and procedure.

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