Strategic Management

Strategic Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Strategy is the comprehensive action plan that identifies the long-term direction for an
organization and guides resource utilization to accomplish organizational goals with
sustainable competitive advantage..............................................................................................3
TASK 2........................................................................................................................................5
The use and application of a SWOT analysis is ‘blunt tool’ when applied to strategy
management ...............................................................................................................................5
Evaluate the benefits, costs and risks of using ‘innovation’ to drive long-term organization
development, illustrating your answer with examples of how this approach to formulating and
deploying strategy works in practice. .........................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Strategic management can be defined as the continuos analysis and assessment of the
organisation in terms of planning and organising to generate the desired goals and the objectives.
It is the process that identify the strategies that affects the organisation in its working and
generate the positive results and after that implementation of those strategies for the better
outcome. These strategies can be carry out for better performance and to get the competitive
advantage in the market. It contains the set of decisions which can be implemented after the
whole analysis of the organisation in context of which decisions generates better results in firm's
performance(Dzwigol, 2020) . The aim of the report is to highlight the strategies that creates the
detail action plan that needs to be implement for the long term organisational goal with the
SWOT analysis as a blunt tool for strategy management. And at last it contains the discussion on
the benefits, costs and risks of using innovation to get long term organisational development.
TASK 1
Strategy is the comprehensive action plan that identifies the long-term direction for an
organization and guides resource utilization to accomplish organizational goals with
sustainable competitive advantage.
Critically compare and contrast the application of ‘prescriptive’ and ‘emergent’
approaches to strategy and outline their role in the delivery of this aim. Where possible use
examples drawn from the literature to support points you put forward.
Strategic planning is refers to a tool that provides direction to the business for the better
performance for the success. Strategies unify teams in a single unit and gives them direction for
taking tough business decisions (Gobble, 2018). To identify the or implement the strategies
there is a need for a complete action plan which includes various steps that needs to follow that
are , firstly organisation need to define their vision, it is required to develop the what company
needs to achieve in the future and what are there goals. In the second stage it contains the
personal objectives that are relate to the company that also needs to generate from the different
strategies. In the third step it includes the knowledge of the organisation, in consist analysis of
the organisation on the basis of its strengths , weaknesses , threat and the opportunities. After
that in includes creation of the short term goals that helps in a way to achieve long term goals ,