Strategic management.

Strategic
management

Introduction
 Strategic management is crucial in terms of systematizing the tasks according
to the targets. The role of the managers is vital for controlling the operations,
which helps in developing objectives and plans for accomplishing the targets.
Involving the stakeholders in the planning process is apt for diversifying the
scope and arena of the business. The immediate outcomes of this is improvising
on the decision making skills, which is vital for enhancing the preconceived
skills, abilities and competencies. Envisioning community development relates
with the initiative to enhance the corporate social responsibility. In the process
of strategic management, risks are inevitable, which needs to be handled
effectively for retaining the prospective customers. The approach towards
dealing the tasks reflects the position of the companies and organization in the
competitive ambience of the market

Strategic issues
 limitations in the money transfer
 price reduction in the pharmaceutical companies
 limitations in the pipelines and the new products

Recommendations
 technological support
 secured payment methods like Android Pay or Google Pay
 local packaging units can be set up
 Framework of management logic
 Theoretical framework for supply chain management

Reflection as a CEO
 Self evaluation
 Leader
 Motivation
 Group discussions
 Feedbacks

Conclusion
 Strategic approach is needed in terms of systematizing the operations
according to the goals and objectives. Formulation and evaluation of the
strategies created at the corporate, business and operational level proves
beneficial for the company in terms of resolving the issues in money transfer,
pipeline and other products. Along with this, strategic approach is also
beneficial for averting the financial risks. Frameworks related to strategic
management and supply chain networks are crucial for ensuring the balance
in the supply and demand of the pharmaceutical products. Risk assessments
are vital for mapping the obstacles towards enhancing the productivity.
Consideration of the economies of scale would be assistance in mapping the
share of the market in the competitive ambience.

References
 Ansoff, H.I., Kipley, D., Lewis, A.O., Helm-Stevens, R. and Ansoff, R., 2018.
Implanting strategic management. Springer.
 Crai.com (2019). Global Pricing Strategies for Pharmaceutical Product
Launches. Available at:
https://www.crai.com/sites/default/files/publications/Global-Pricing-Strategie
s-for-Pharmaceutical-Product-Launches.pdf
[Accessed on 29th May 2019]
 Hill, T., 2017. Manufacturing strategy: the strategic management of the
manufacturing function. Macmillan International Higher Education.
 Noe, R.A., Hollenbeck, J.R., Gerhart, B. and Wright, P.M., 2017. Human
resource management: Gaining a competitive advantage. New York, NY:
McGraw-Hill Education.
 Wheelen, T.L., Hunger, J.D., Hoffman, A.N. and Bamford, C.E., 2017.
Strategic management and business policy (p. 55). Boston: pearson.