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Strategic Management of Organization

   

Added on  2021-05-31

12 Pages2605 Words39 Views
Strategic Management1Strategic ManagementStudent Name:Institution:Course:Date:

Strategic Management2Executive SummaryJB HI-FI and Dick Smith are companies that deal with complementary products and thus exist in the same industry. However, the two companies perform differently in the market. This report analyzes the two companies and identifies the factors behind the diverse performance. The reportfurther recommends on the various strategies that can be adopted by the two companies to enhance efficiency and improve performance.

Strategic Management3Table of ContentsExecutive Summary.....................................................................................................................................2Strategic Management................................................................................................................................41.0 Introduction...........................................................................................................................................42.0 Company Overview...............................................................................................................................42.1 JB Hi-Fi Limited..................................................................................................................................42.2 Dick Smith Holdings Limited..............................................................................................................53.0Strategic Management....................................................................................................................53.1 Strategic Competitiveness.................................................................................................................53.2 Competitive advantage......................................................................................................................53.3 Business Environment.......................................................................................................................63.4 Business long-term growth................................................................................................................63.5 Value creating....................................................................................................................................73.6 Risk Management..............................................................................................................................73.7 Resources Management....................................................................................................................83.8 Company goals and objectives...........................................................................................................93.9 Competent Managers........................................................................................................................94.0 Conclusion...........................................................................................................................................10References.................................................................................................................................................11

Strategic Management4Strategic Management1.0 IntroductionThis report is aimed at comparing and contrasting two companies, JB HI-FI and Dick Smith, on the basis of strategic management to identify why some companies perform better than other companies in the same industry. It further recommends the desired improvements that the underperforming companies could undertake, that may increase their performances. Strategic management, according to OCVIRK, (2018), entails such parameters as general company development; long-term company success; creating the opportunity to succeed in the company; both internal and external aspects of the company; and a superior perspective upon which company decisions are based.2.0 Company Overview2.1 JB Hi-Fi LimitedThis company was founded in 1994. Based in Gladstone, Queensland, Australia, it is a retailer dealing in consumer electronics, video games and more. The company operates on a product portfolio consisting of computers, speakers, portable audio, car sounds, DVD music, televisions, recorded music, cameras, cooking products, kitchen accessories, Blu-ray disks and more (Crunchbase.com, 2018). The company also offers consultation and information technology services. It operates through three segments, that is, JB Hi-Fi Australia, JB Hi-Fi New Zealand and The Good Guys, (Bloomberg.com, 2018). The company owns over 50 JB Hi-Fi Home branded stores, with over four of the stores located in New Zealand. Approximately, the company runs 190 physical stores. The company also provides different solutions, including corporate, education and government sales of products and services and replacements of

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