Strategic Management | Emirates Airlines
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Added on 2020-02-05
Strategic Management | Emirates Airlines
Added on 2020-02-05
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STRATEGICMANAGEMENT
ContentsINTRODUCTION.......................................................................................................................................3CONCEPT...................................................................................................................................................3PURPOSE...................................................................................................................................................3NEED OF STRATEGIC MANAGEMENT................................................................................................3CHARACTERISTICS OF STRATEGIC MANAGEMENT.......................................................................4IMPORTANCE OF THE STRATEGIC MANAGEMENT........................................................................5STAGES OF STRATEGIC MANAGEMENT............................................................................................5SCOPE OF STRATEGIC MANAGEMENT..............................................................................................6STRATEGIC MANAGEMENT MODEL...................................................................................................7DIMENTIONS OF STRATEGIC MANAGEMENT..................................................................................8ADVANTAGES OF STRATEGIC MANAGEMENT................................................................................8DISADVANTAGES OF THE STRATEGIC MANAGEMENT.................................................................9CONCLUSION.........................................................................................................................................10REFERENCES..........................................................................................................................................11
INTRODUCTIONStrategic management is done by the top level management of the company or organisation. In this it involves how the strategies are formulated and how it will be implementing to achieve the desired goals of the organisation. When strategies are made then internal and external both the environment must be considered by the company. It will also help in decision making process of the company. Emirates airlines also use strategies for their business so that they will achieve the desired goals and objectives. It is like a planning which help Emirates airlines to achieve more profits (Hair and et. al., 2012). Strategic management is like a continuous processes which helps in control and evaluate the activities and process of the business. If there is any problrm arise in the strategies of the Emirates airlines then the top level management of this company can make necessary alterations in it so it is very necssary that strategies must be flexible. CONCEPTStrategies of the companies are made to achieve the long term goals or objectives. It alsohelps to take the competitive advantage. Strategic management is like a process which helps toformulate and implement the strategies for the Emirates airlines. It also helps the management tobe flexible in the dynamic environment. Strategic management is a continuous process and helpsto achieve the desired goals and objective of the Emirates airlines (Ackermann and Eden, 2011).PURPOSE Strategic management is very essential for the company. The main purpose of thestrategic management is that it is related with both type of business either current or future. Thepurpose of the Emirates airlines is also related with the society needs. Stategies which are madeby the company never do harm any people. NEED OF STRATEGIC MANAGEMENTStrategic management is very necessary for the entire organisation. It provides guidelinesor blueprint of the business so that it can help in the success and development of the Emirates
airlines. There are some important needs of the strategic management for the Emirates airlineswhich are mentioned as below:Increasing rates of change: It is very necessary to make strategies very flexible so that itcan be altered according to the need of Emirates airlines (Keupp, Palmié and Gassmann, 2012).Environment is dynamic in nature so that is it also importantant to update the strategies or plansof the Emirates airlines time to time. It will also help them to growth and survive in themarketplace and helps to achieve the desired goals and objectives. If the strategies of theEmirates airlines are very effective then it will also help them to enhance the profit. Higher motivation of employees: If the strategies of the Emirates airlines is veryeffective and effiecient then it will be very easy to define the duties and responsibilities of theemployees. If it is clear to them then it will help to motivate them. If the employees also do theirwork with proper effectiveness and efficiency then they also will get rewarded by the employer.The reward is the motivation tool for them and it will help to enhance their performance. Rewardcan be in monetary term or non – monetary term also. If the employees of the Emirates airlinesalso get respect from their employer or manager then they will also get motivated (Rahm andRiha, 2012). Strategic decision making: If the strategies of the Emirates airlines are very effectiveand efficient then it will also help them to achieve the desired goals and objectives. They willalso take an effective decision for their company. Optimization of profit: If the strategies of the Emirates airlines is effective then it willalso help to idendify the duties and responsibilities of the employee. If these all are very clear toeach and every employee then they will do their task effecively so that it will help to increaseproductivity and the profit also increase. CHARACTERISTICS OF STRATEGIC MANAGEMENTStrategic management is very essential for the growth and survival of the Emirates airlines. Itwill help them for development and also helps to compete their competitors in the marketplace.There are some important characteristics of the stratetic management which is described asbelow:
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