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Strategic Management INTRODUCTION 1 TASK 11 Strategic choice model to sustain competitive position of the company

   

Added on  2020-12-31

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Strategic Management
Strategic Management INTRODUCTION 1 TASK 11 Strategic choice model to sustain competitive position of the company_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1The strategic Direction that the company has followed in the past........................................1TASK 2............................................................................................................................................3Detailed analysis of industry .................................................................................................3TASK 3............................................................................................................................................6Internal analysis of the company............................................................................................6TASK 4............................................................................................................................................8Strategic choice model to sustain competitive position of the company................................8TASK 5..........................................................................................................................................11Resource implications of the selected strategy.....................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Strategic Management INTRODUCTION 1 TASK 11 Strategic choice model to sustain competitive position of the company_2

INTRODUCTIONStrategic management is one of the crucial element of business organisations as it is aprocess by which firms can survive and succeed at marketplace by accomplishing its goals andobjectives. It is an art of formulating, executing and measuring functional areas or decisions.Strategic management encompasses internal and external environment of company and then takeinitiative to grow and diversify over the market (Wheelen and et. al., 2017). Strategicmanagement involves the related concepts of strategic preparation and execution of the plan. Thepresent assignment is based on Ford which is a multinational auto maker which was founded in1903. The firm sells commercial vehicles and auto mobiles under Ford brand and mostly luxurycars under Lincoln brand. Apart from this, the report is going to describe about various types ofstrategies which was followed by an organisation in past. A detailed analysis will be made inorder to assess internal and external environment as well as competitive forces. Furthermore,strategic choice models will also be explained here. TASK 1The strategic Direction that the company has followed in the pastThe term strategic management is a process which defines organisational strategy; it alsoimplies activity through which managers make a various strategies which enables to attain betterperformance of a company. Although, it is an ongoing activity which appraises firm'scompetitors and then fixes goals to meet. Every business association follows certain strategiesand policies in order to grow and viable over the market (Gamble, Thompson and Peteraf, 2013).The chosen organisation Ford also acquire certain strategies or tactics thus to competitiveposition over the world. The firm was founded by Henry Ford and incorporated in June, 1903.The company's business surrounded over four areas, such as- designing, manufacturing,marketing and delivering a chain of cars, sport-utility vehicles, trucks and luxury vehicles. Theauto mobile giant deals in two brands, i.e. Ford and Lincoln. The organisations also sells itsvehicles for fleet, including commercial fleet customers, daily rental car for companies, andgovernments. In its past years, Ford used schools of strategy which helped it out in providing futuredirection or the way that company can succeed at market. In this relation, Mintzberg's 10 schoolsof thoughts support managers of multinational companies to make imperative business strategiesand gain competitive position. Following is given some school thoughts of strategy, such as - 1
Strategic Management INTRODUCTION 1 TASK 11 Strategic choice model to sustain competitive position of the company_3

The design school – There is focus on conceptional ideas and generate new ideas. Forthis purpose, companies like Ford needs an internal analysis thus to match its internalstrength with market and get know the area it needs to make improvements. The planning school – The process runs towards planning the entire strategy in effectivemanner thus auto mobile companies can look forward and expand their business. Inplanning school though, Ford will formulate the plan from start to finish. This plan isrefereed to management whenever it wants to take new business decisions. But issuesarise when anything occurs out of the plan (Priem, Li and Carr, 2012). The positioning school – Here, management decides that they want top position of theirproducts and then make decisions accordingly. In this relation, managers of Ford arerequired to identify market competition by using tools like – Value chain, Porters' fiveforces, PESTLE analysis etc. It is assumed that once the positioned has been determinedthen right strategy will be implemented. The cognitive school – In this, individuals perception and information is reviewed. Thecognitive school states that a business can be better by knowing its customers. Its apsychological process to capture or read out customers' mind and then applyimprovements within business. It can done by making effective communication withtarget audiences. The five year strategy of Ford also based upon identifying customers'needs and wants. Strategic direction of organisation developed within 5 yearIn past 5 years Ford's grand strategy is moving forward and it is based upon these fiveprinciples - To be prepare for disruption by becoming fit.To be involve in auto mobile business and generate vehicles for people and goods.Produce Smart, innovative and connected vehicles. Products offered by company will thrive into new transportation operating system.Develop and capitalize new business opportunities in transportation operating system.2
Strategic Management INTRODUCTION 1 TASK 11 Strategic choice model to sustain competitive position of the company_4

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