Strategic Management: Models, Stakeholders, Structures and Processes

Strategic Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
Meaning of strategy and strategic management..........................................................................2
Role of organizational stakeholders, structures and processes....................................................2
Strategic Management models (SMM)........................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Strategic management is an ongoing planning, monitoring, analysis and assessment of all
organization needs in order to meet the organization’s goals and objectives. The chosen firm for
this report is Tesco which is one of the top international firm in UK operates in retail sector. The
report will evaluate 2 strategic models that helps to determine the strategic management and
identify the role of organizational stakeholders, structure within a firm.
Meaning of strategy and strategic management
According to Fuertes and et.al., (2020) organization strategy is a combination of all
actions whose intend is to attain the long term goal and this also assists in company’s strategic
plan. Whereas, strategic management provides direction by developing plans and policies in
order to accomplish objectives and then allocate resources to implement the plans as well.
Through strategy and strategic management, organization gain a competitive edge over their
competitor and sustain brand image as well (Strategic management model with examples, 2020).
Role of organizational stakeholders, structures and processes
Tesco’s stakeholders like employees, workers, shareholders and investors plays an
important role and also influence the decision making process (Bindra, Parameswar and Dhir,
2019). They make sure that organization work environment remains dynamic, stimulating and
rewarding so that organization perform well. Stakeholder also affect strategy because they wields
power when they are not dependent on the firm, whereas organization is dependent upon them
which influence strategies.
The role of organization structure within Tesco is also crucial such that it helps to make
clear who can fit in a chain of command and assists to make decision making by an authority.
Further, Tesco follows hierarchy organization structure where all the roles and responsibilities
are delegate to each other and that is why, it helps to implement strategy in an effective manner.
On critically side, due to poor organization structure communication become slowed down and
also increases flexibility (Barbosa, Castañeda-Ayarza and Ferreira, 2020).
An effective process within an organization also allows an organization to begin
visualization the range of activities which in turn assists employees to make effective planning.
Through this, it can be analyzed that how the things are done and then provides focus for making