Strategic Management: Process, PESTEL Analysis, and Change Management

Strategic Management.

Table of content
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
Process used by organization to determine strategy.................................................................4
PESTEL Analysis.....................................................................................................................5
Change management and its importance..................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Strategic management is a management process that is done on the resources of the organization
in order to achieves the goals and objectives of the organization. Strategic management involves
analyzing internal environment, setting objectives, analyzing the competitive environment,
proper implementation of the strategies, evaluation of strategies, analyzing the results of the
strategic implementation across the organization (Almutairi, T.M. and Sriramesh, K., 2020.).
Their are majorly two approaches to strategic management and both focuses on different stages
of strategic management. The first approach to strategic management is prescriptive approach.
This approach focuses on how strategies are made. The first step in strategic management is to
make a strategy according to the requirements of the company and this approach focuses on that
stage. On the other hand descriptive approach focuses more on the implementation stages of
strategic management. It focuses on how the strategies are coming into practise. These
approaches differ on the basis of whether the strategy is made by analytic & systematic process
or it is made by general guiding principles. In context to Unilever, the company truly believes in
transparency and they say that “Transparency is important to our consumers and so it’s important
to us. People trust us to provide them with products that are safe for them, their families and the
environment”. unilever is a multi national company headquartered in London, England. The
company owns approximately 400 brands and the brand is available in nearly 190 countries
including developing countries such as India, China, etc. The company was founded in the year
1929 by Lever Brothers and Margarine Unie. The company is the largest producer of soap in the
world and thirteen of the brands of company have sales over one billion Euros. In 2020, the net
income of the company was about $6.073 billion with 155000 employees (Anyakoha, C., 2019.).
Unilever products includes food, energy drinks, baby food, soap, soft drinks, cheese, tea, ice
cream, pet food, bottled water, toothpaste, candy, chewing gums, personal care, cosmetics,
pharmaceuticals, etc. Some of the famous brands of Unilever includes Omo, Knorr, Dove,
Magnum, Sunsilk, Surf, Heartbrand ice creams, etc. The company has a primary listing in
London Stock Exchange and has secondary listing on Euronext Amsterdam. The company is also
a part of Euro Stoxx 50 stock market index and an announcement on 30 November 2020, was
made for unification of Unilever’s Dutch and UK arms under a single London based entity.

MAIN BODY
Process used by organization to determine strategy.
There is a process of implementing the strategy into an organizations management. The process
does not include only these steps but effective communication and organizations culture also
plays a major role in the process of strategic management especially for big cooperates who are
going through strategy management.
Determine the strategic position: It is important for the company to determine where
they stand when it comes to strategy. It is about analyzing the strategic direction in which the
company is going.this stage is a preparation stage in which he company needs to get themselves
prepared for new strategies and its implementation (Carter, W.R. and Stickney, L.T., 2019.). The
company needs to involve right stakeholders in the starting stage of the process considering the
external and internal factors. In order to get a clear image of the strategy the company needs to
analyse the mission and vision objectives of the company so that they can work in that direction
and make sure that the right strategy is opted by them.
Prioritize your objective: Once the company determines its position in the market, the
second step is to set the objective. Its the objective that the company wants to achieve with the
help of the strategy so that the strategy is chosen keeping in mind the objectives. The objective
must be clear, distinct and measurable so that the long term strategic initiatives and goals can be
reached by the company with the help of strategy(Dhir, S., 2019.Haynes, P., 2018.). Before
developing a plan for the company it is important to determine the timeline and identify the
resources that are needed to achieve by the strategic management.
Develop a strategic action plan: Now is the time for the company to develop a strategic
plan which is according to the objectives of the company and which will help the company to
move towards its goals. This action plan is required to have designated timeline and the plan
must be clear so that the communication of responsibilities become efficient (Hodgkinson, G.P.
and Healey, M.P., 2018.). The planning stage is very important for every organization as this
strategy is for the long term future of the company and even a small mistake can be very
dangerous for the company. Strategy mapping can be an effective method to visualize the plan. It
will help the company to view business processes and to identify scope for improvement.
Execute the action plan: Once the planning is completed it is tie to execute that plan.
The execution will always starts with communication. The members needs to communicate plan