Strategic Management: Issues, Trends, and Key Aspects

STRATEGIC MANAgement
System04099

Contents
Introduction...........................................................................................................................................2
Importance of strategy process..............................................................................................................2
Issues in strategic management..........................................................................................................2
Current trends for future strategic decision-making...........................................................................3
Key aspects of strategy......................................................................................................................4
Links between strategy formulation and its implementation..............................................................5
Successful relationships between groups with theory and arguments................................................6
Identification of reasons....................................................................................................................6
Conclusion.............................................................................................................................................6
References.............................................................................................................................................8

Introduction
With the increasing competition among the organisations, it is important for the organisation
to derive several issues that has been continuously affecting its operations. These issues are
either operational or strategic. In order to resolve the strategic issues, it is important to
identify the external changes that affect the organisation. Although, there are many sources
on internet that creates strategic plan and this do not undertake into account because of
dynamic and different needs of the business. Implementing includes alignment of people,
purpose, and strategy. Large part of practise helps management to find common the root
causes that are hindrances to the implementation (Hitt, and Ireland, 2017).
Importance of strategy process
Issues in strategic management
Some of the strategic issues affecting the organisation is how to get attention of the
stakeholders that helps to secure and keep the resources with itself, which are required for
business operations. Other issues are how to leverage the resources to pursuit in becoming the
most efficient company, how to satisfy the customers in such a way that can build brand
reputation, identification of competitors, how to respond to enhance the business external
situations such as changing rules, expectation, value, power and resources. Strategic
challenge deals with the expectation, availability of staffing and leadership. Apart from the
external issues, it keeps an eye on internal activities such as board operation, staffing,
organising, financing, and marketing. Problem arises with quality management due to too
much theory because every organisation strive to accomplish perfection. To achieve perfect
total Quality management system that focus more on putting theory into theory which can
create competitive advantage. For example- During the strategic transformation of Nokia,
there always remained a deviation in the business tactics because it could not accomplish the
theoretical knowledge with the practical approach (Jia, and Yin, 2015). Nokia valued its