Strategic Management Case Study Analysis

BSc (Hons) Business Management Top up
BMP6002
Strategic Management
Strategic management case-study
analysis
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Contents
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Introduction 1
A critical assessment of the process used by organisations to
determine their strategy 2
An evaluation of the critical models and tools used by
organisations to determine their strategy 3
An application of these tools to a real organisation 5
Critically appraise the importance of change management based on
the complexity of the transformation process, its costs, risks and
sustainability 5
Conclusion 7
References 7
Introduction
1

Strategic Management refers to a process in which the assessment of the strategies to
be used within the organizations is made which can be helpful in the process of ensuring that
the organizations are able to attain a competitive edge over their various types of competitors
in the market (Afolayan and de la Harpe, 2020). Therefore, it is quite important for the firms
that they are able to identify the right way in which the application of their strategies is
required to be done. The organization which has been considered for this report is IKEA. It is
a Swedish founded Dutch multinational company which provides a lot of products and
services to the customers in the market. In this report, a detailed discussion will be made on
the steps which the organizations can take so that they are able to determine their strategy
appropriately. This will help in formulation of the short-term, medium-term and long-term
goals and objectives which are to be attained in the future.
A critical assessment of the process used by
organisations to determine their strategy
A particular process is required to be used so that the organizations are able to
determine their strategy (Aref Manesh, Ansari Samani and Zarei Al-Wandi, 2020). These
steps are quite important to be followed because the organizations are required to attain a
particular level of strategic and competitive advantage in the market. The process which is
used commonly by the organizations like IKEA is as follows-
 Goal-setting- The firms are required to set up goals so that they can be attained. Thus
IKEA is required to ensure that the right goals are set by it.
 Analysis- It is important for the organizations that they are able to carry out an
internal and external analysis which will be helpful in ensuring that the conclusions
and recommendations are formulated. Thus, IKEA has to carry out an internal and
external analysis.
 Strategy formulation- It is important that the strategy is formulated on the basis of
the analysis which has been done. Thus, IKEA needs to formulate the strategy in the
right manner.
 Strategy implementation- It is also crucial that the implementation of the strategy
can be done which will help a lot in ensuring that the strategy can be used in a proper
way. IKEA has to ensure this to raise its efficiency and effectiveness.
 Strategy monitoring- It is also crucial that the detailed monitoring of the strategy can
be done and changes can be made if necessary. This is required to be done by IKEA
to attain a strategic and competitive advantage.
Strategic planning-
It becomes quite important that the use of a Strategic plan can be made so that the
formulation of the strategies is done in such a manner which helps in the attainment of the
Strategic Edge in the market (Hamid, Muzamil and Shah, 2020). The Strategic Plan which
can be used by IKEA is as follows-
Basis Details
Vision The vision of IKEA is to make sure that a
better everyday life is created for the
people.
Mission The mission of IKEA is to offer a wide
range of different types of products to the
customers at attractive prices which will be
quite helpful in ensuring that they can be
satisfied.
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