Strategic Management: Types of Strategy, Competitive Drivers, Internal Analysis Tools

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Types of strategy in relation to schools of strategy and strategic concepts............................3
TASK 2............................................................................................................................................4
Competitive drivers and the impact on competitive position of company.............................4
TASK 3 ...........................................................................................................................................7
Internal analysis tools to draw appropriate conclusions.........................................................7
TASK 4 ...........................................................................................................................................9
Strategic choice models to sustain the company’s competitive position...............................9
TASK 5 .........................................................................................................................................12
Resource implications of recommendations that company has to address and critical analysis
and application of strategic implementation models............................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Strategic Management is referred as integration of action and decisions of manager that
assist in determining long term achievement of performance of enterprise in effectual and
efficacious way (Abreu Pederzini, 2016). It scan internal as well as business environment,
implementing and formulating strategy, evaluation and controlling of it. It is important to study
strategic management as it mainly focus on evaluation and monitor of different market
opportunities and threats for identification of strong and weak points. This provide proper
direction to enterprise for achievement of objectives, development of plans, strategies and
policies with attainment and allocation of resources in appropriate manner. The given report is
based on Marks and Spencer which was founded in 1884 by Thomas Spencer and Michael
Marks. It is retail business that manufacture various types of products such as foot wear,
accessories, luxury, home appliance and so on. The aim of report is to discuss about several
aspects of strategy related with school of strategy and strategic concepts. It has covered
competitive drivers and their impact on competitive position of company. This has highlighted
internal analysis tools for providing appropriate conclusions. The strategic choices models are
used for sustaining company's competitive position along with application of strategic
implementation models.
TASK 1
Types of strategy in relation to schools of strategy and strategic concepts
Strategy is defined as action plan which is made for achieving set goals and objectives in
an effective and efficient manner of company (Alizadeh and et. al., 2016). This is essential for
Marks and Spencer to develop strong strategies in order to perform operations and activities of
business in an effectual way. Strategies plays very essential role in business which affect overall
functions of enterprise. It will assist in identifying uncertainty and development of plan that
enhances performance of business and rise in profits and gains. This is crucial for Marks and
Spencer to develop strategies as it assist in foreseeing future of organisation and making
decisions that leads to deal with challenges in appropriate manner. It will aid in attainment of
goals and objectives successfully and employees will work in positive manner. The strategies
which are developed by Marks and Spencer will influence large number of customers for
business goal and objectives. It also leads to gain competitive advantages from their rivalry

companies. The strategies are concept which are used by companies in identification of business
environment and collection of data and information in order to develop plan that will provide
direction in accomplishment of desired objectives and targets. The various kinds of strategies are
applied by Marks and Spencer for running their business activities as well as operations in
positive manner. The significant strategies that helps in development of business and applied by
respective organisation are described below:
Creating Values- The organisation has to create value for their business in order to serve
their consumers with high quality products and services (Barney, 2017). In order to implement
such strategies, respective organisation has to provide positive and friendly environment to their
working forces. It will leads to enhance overall productivity and performance of business. The
respective organisation uses differentiation strategy in order to provide high quality and
innovative products and services to consumers which helps in gaining competitive edge from
their rivalry.
Transforming Business- It is the most strategy which should be used by organisation for
their business so that set outcome can be attained in an positive manner. Marks and Spencer can
transform business with help of risk management, performance, brand values heritage and
working on plan A (Strategies of Marks and Spencer, 2019). They can rise their profits and gains
by taking risk and performing those in an effective manner. With such strategy, respective
organisation can develop capabilities and skills of employees for enhancement of overall
performance. It is important to make two plans and apply first one to achieve set outcomes.
TASK 2
Competitive drivers and the impact on competitive position of company
It is essential for Marks and Spencer to perform activities and operations of business in
effectual way. The proper strategies has to be developed by respective organisation in order to
accomplish set objectives and goal. It is important to analyse and evaluate business environment.
The components of external surrounding are measured through help of PESTLE analysis and
their impact on business are described below:
PESTLE Analysis
It is regarded as framework which helps in analysing various components of external
environment. This offers HR practices which insight external factors that impact organisation.