Strategic Management: Impact of Internal and External Environment on Organizational Strategy

BSc (Hons) Business Management Top up
BMP6002 Strategic Management
Strategic Planning
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Executive Summary
Strategic management plays an important role in delivering the best results
within the organization. The best results can be achieved by the organization by
using a range of strategies that will help in increasing the productivity of the
organization. The internal and external environment of the organization plays an
important role in terms of deciding the level at which the operations of the company
will be managed. The business plan of the respective company is helpful in
analyzing the strategies that will be used by them in near future.
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Contents
Introduction p
Definition of strategic management p
A critical assessment of the process used by organisations to
determine their strategy p
A critical evaluation of the impact of internal and external
environmental variation on organisational strategy p
A review of an organisation’s strategic plan (Business Plan),
providing an action plan for the organisation on the basis of a
change in either the internal OR external environment. (The
Business Plan is included as an Appendix) p
Conclusion p
References p
Appendix p
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Introduction
Strategic management refers to the significant branch in the diverse
field of management in any type of business model which effectively helps in
managing the valuable resources of the organization. Strategy plays a major
role in terms of managing different areas such as operations, supply chain
which ultimately lead the company towards the achievement of goals and
objectives (George, Walker and Monster, 2019). This type of management
consists of various activities which helps in defining and setting up of
objectives which lead to the ensuring effective analyzing of internal and
external data. In this report Marks and Spencer is considered which is a UK
based clothing retail company dealing established in the year 1884. This
report covers the concept of strategic management and further it covers the
process used by the organization in order to determine the strategy
implemented in the current business model. Internal and external
environmental variation on the strategy of organization is also discussed.
Further a business plan for the company is suggested by keeping the
important factors such as internal and external environment in mind.
Definition of strategic management
Strategic management is one of the broadest field of management in
which the focus of the manger is on the different productive areas of the
company such as monitoring, planning, analyzing and assessing the
resources that are available in the organization in order to meet the
goals and objective of the firm (Hanlon, 2021). With the dynamic
environment, there are several set of changes that are being placed in
the current market situation due to which strategy must be analyzed on a
regular basis. Constant and rapid changes in the marketing environment
is one of the most crucial factor as the strategy of the company revolves
around its external and internal environment. The strategy must be
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