Strategic Management (Distinction Criteria) for BSc (Hons) Business Management Top up - BMP6002

BSc (Hons) Business Management Top up
BMP6002 Strategic Management
Strategic Planning
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Contents
Introduction p
Definition of strategic management p
A critical assessment of the process used by organisations to
determine their strategy p
A critical evaluation of the impact of internal and external
environmental variation on organisational strategy p
A review of an organisation’s strategic plan (Business Plan),
providing an action plan for the organisation on the basis of a
change in either the internal OR external environment. (The
Business Plan is included as an Appendix) p
Conclusion p
References p
Appendix p
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Introduction
Strategic management refers to development and implementation of the
primary objectives and the projects, by the business organization management on
the behalf of the shareholders who are the owners of the firm. Basically the
development of the strategy starts with the assessment of the resources which are
available, the analysis of the industry for assessments of the competitive
environments in which the firms operates and the assessment of the internal
operations(Ahmad, and Ahmad, 2019). By this entire assessment the strategy is
created for achieving the desired objectives and goals. Implementation of developed
strategy find to steer and align the firms with the main goals. The project is made of
the ASDA which is the British retail chain , situated in the Leeds, England. It was
established year 1949 by Peter and Fred Asquith, Sir Noel Stockdale. The report will
mention the critical classification of process which is the use by the firm for
determination of strategy. Further the critical evaluating of effect of the internal
and external environment changes over the strategy of the organisation. In end
review of the organisations strategic plan on basis of the alteration in internal and
external surroundings.
Definition of strategic management
Strategic management is known as constant monitoring, preparation,
analysis & assessment of entire requirements of the business organisation needs
for meeting the goals and objectives. Changes in the environment of the business
will need firms for constantly assessing the strategies for the success( Novikov, and
et. All., 2019).Strategic management process aids the firms for taking the stock of
present condition , chalking out strategies, implementing them & analysing the
effectiveness of implemented plan of action of the management. Strategic
management strategy includes the 5 primary strategies and may differ depending
on the environment of the surrounding. It applies in both the mobile platforms and
on premises.
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