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Strategic Management of McDonald

Added on - 22 Nov 2020

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STRATEGICMANAGEMENT
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Strategic direction followed by company in past and various ways in which it has developed.................................................................................................................................................1TASK 2............................................................................................................................................3Analysis of sector in which organisation operate...................................................................3Task 3...............................................................................................................................................7Strategic drift:.........................................................................................................................7TASK 4............................................................................................................................................8Strategies that a company could follow to defend its business..............................................8Task 5...............................................................................................................................................9Analysis and evaluation of resource implication of recommendation that firm has to address................................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONIn the field of management, strategic management involves the execution and formulation of theessential goals and objectives that are taken by the top management of an organisation on thebehalf of owners. It is significantly based on the consideration of the resources andan analysisofthemicro as well as macroenvironment in which theenterpriseoperates its different businessoperations. Strategic management is consist as an appropriate process of planning, analysis,monitoring and assessment of all the relevant element which are necessary for an organisation tomeet its goals and objectives. In this report McDonald is the chosen organisation (Gamble,Thompson and Peteraf, 2013). It is an American fast food company, which is established in theyear of 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino,California, united states. The company has its original headquartered in Oak Brook, Illinois, butmoved its global headquarters to Chicago in the earlier of 2018. This report contents the studyabout the strategic direction that the firm has followed, a description of the sector in which entityoperate, the use of appropriate internal analysis tools, strategic choice model which is effective insustaining a competitive position and the implications which are arises through theimplementation of business strategy.TASK 1Strategic direction followed by company in past and various ways in which it has developed.Strategic direction is consist as a course of action which assist or help in achieve set goalsof company’s strategy.Strategic planning is a process to ensure that company will give a goodprofit result and the company is able to maintain its output.A strategic direction involves thefundamental forces which prompt the business toward its intended objectives or goals. Theorganisational vision, mission, strategies, tactics and core values all contribute to the appropriateestablishment of a strategic direction (Barney, 2012). A successful business leader suggest to thecomponents of the key heading to create cooperative strength and positive resolve in anassociation. A vital course is resolved as the most fundamental powers in an association. Itexecute the structure for inside parts or duties which can be taken by the person in every office.A reasonable vision enables every person to know the significant reason and destinations of thefirm. Strategies and tactics also allow each employee to analyse the part which are needs to beplays in contributing to the attainment of the vision and objectives.1
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