Strategic Management: Process, Models, and Tools

Strategic
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Critical assessment of the process used by organisations to determine their strategy.................1
Evaluation of critical models and tools used by organisations to determine their strategies......2
Application of tools to a real organisation...................................................................................5
Critical appraisal of the importance of change management based on the complexity of
transformation process, its cost, risk and sustainability...............................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Strategic management can be defined as a continuous procedure which is followed by
business entities to plan, monitor and control all the operational as well as executional activities
of the organisation so that possibility of error could be reduced. Main purpose of it is to make
sure that the change which has taken place in the business environment gets implemented
properly (Frynas and Mellahi, 2015). The organisation which is selected for this report is Aston
Martin which is a sports cars engineering company mainly established in United Kingdom. It
was founded by Robert Bamford and Lionel Martin in year 1913. This assignment covers various
topics such as assessment of process used by companies to determine strategy, evaluation and
application of critical models and tools used by organisations for same purpose. Additionally,
critical appraisal of the importance of change management based on complexity of
transformation process, its cost and risks is also covers under this report.
MAIN BODY
Critical assessment of the process used by organisations to determine their strategy
For all the organisations it is very important to formulate effective strategies so that all
the goals which are set for future could be achieved. In order to execute all the operations in
systematic manner the management of companies such as Aston Martin are required to make
sure that the strategies and policies which are formed by them are applied properly. While
formulation or determination of them specific procedure is followed in all the business entities.
All the steps which are followed in the process are as follows:
Step 1- Clarifying vision: It is the first stage where business managers try to clarify the
organisational vision to the staff members in order to motivate them to work harder. If a
company is willing to attain growth in future then it is very important for management to make
sure that they are having detailed information about the vision. It can guide them to pay attention
towards such factors which require high focus to determine strategy (Ginter, Duncan and
Swayne, 2018). If they are not able to clarify the vision then it will be very difficult for them to
formulate effective decisions for betterment of business.
Step 2- Gathering and analysing information: When vision is clarified then
management in all the organisations tryb to gather and analyse information about the company
and amrket situations. With the help of them, the best suitable way to determine policies for
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