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(Doc) Strategic Management Solved Assignment

   

Added on  2021-02-19

17 Pages5954 Words23 Views
STRATEGICMANAGEMENT

EXECUTIVE SUMMARYStrategic Management is an essential practice which is undertaken by organisationswhich require effective competitive edge within the market. It has several concepts and theoriesthat assists different organisations into gaining an appropriate edge within the marketplace.The report below is based on analysis and implementation of Blue Ocean Strategy, whichis an essential concept under strategic management. For the same, Mace Macro International hasbeen chosen in context with reflecting upon application of this concept.The purpose of this report was to analyse the emergence and evolution of Blue OceanStrategy, along with its current implementation. To attain this, a detailed analysis has beenperformed on inception and application of this strategy with other concepts like SWOT Analysis.Another purpose of this project was to implement this strategy on Mace Macrointernational. Thus, a detailed implementation, with focus on its applicability and relevance withcontext of the company, along with improvisation aspects in its implementation.

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1Critical Examination of the Concept...........................................................................................1Present Application of the Concept.............................................................................................6PART 2............................................................................................................................................8Blue Ocean Strategy....................................................................................................................8CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONStrategic Management refers to an area of practice which is concerned about planning,organising, directing as well as controlling all the activities and procedures within a companywhich provides a company with strategic and competitive advantage in the future. Moreover, thisfield also contributes in increasing the sustainability and performance of the organisation, whichfurther provides a company with appropriate and effective edge in the market. There are severalconcepts associated with strategic management that are very important for firms to adopt incontext with ensuring betterment in their capacity as well as overall working in global markets(Ansoff and et. al.,2018).The report below is based on Mace Macro International, which is a world-renownedorganisation dealing in provision of facilities management services for different companiesworking all around the world. This assignment is divided into two parts, wherein the first partdeals with choosing an appropriate concept or model in strategic management and its criticalevaluation. Moreover, this part also includes the evolution of this concept as well as its presentimplementation in terms of dealing with the current problems within organisations in the presentbusiness environment. On the other hand, the second part of this project relates with turning thetheory into action, with respect to Mace Macro International. It takes form of a mini-case study,which involves present analysis of situation of the company and application of this concept tosolve issues. Moreover, it also includes several challenges with respect to the application of thistheory within the company.PART 1Critical Examination of the ConceptDefinition of Blue Ocean StrategyBlue Ocean Strategy refers to an effective process where low cost as well asdifferentiation are taken as basis by organisation to create new spaces within the market as wellas develop further demand of their offerings (Noe and et. al., 2017). The main agenda ofapplication of this strategy is with respect to capturing the uncontested market within a specificlocation, in a way, which makes the competition irrelevant. Organisations applying this strategywork towards creating a demand for their products as well as services, rather than fighting over1

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