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Strategic Management Theoretical Models - PDF

   

Added on  2020-10-22

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Table of ContentsTitle - “Strategic Management Theoretical Models”......................................................................1INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Strategic management model and its application in business management...........................1TASK 2............................................................................................................................................3Example of organisation and application of these models.....................................................3TASK 3............................................................................................................................................4Analyse what the model could offer a business looking to increase its competitive advantage.4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

Title - “Strategic Management Theoretical Models”INTRODUCTIONStrategic management refers to the continuous preparing, observing, examine andassessment of all which is important for company in order to meet its objectives. It assistsorganisation to become more organised (Baumgartner and Rauter, 2017). It is situated in Malta.The purpose of this report is to describe the three strategic theoretical model and theirapplication in business management. Examples related to each models and analysis forincreasing their competitive advantage.TASK 1Strategic management model and its application in business managementStrategic management model is utilised to plan as well as execute the business strategies.The three key strategic management theoretical models which is applied in company present inMalta are mentioned below:Porter's Generic strategies:Michael porter who introduce this generic model; is utilised to ascertain theorganisational strategy. Busy bee can choose this strategy so as to can beat competition. Fourstrategies are:Cost leadership:This is used to become the low cost producer into their industry. Withthe help of this Busy bee can provide their products at low cost in compare to othercompetitors. Differentiation: It is used for improvement of product or services which offers uniqueconcepts which are valued by clients and consumers perceive that better from competitors(Khalili Shavarini and et.al, 2013). Busy Bee apply this strategy as unique productattributes attract more customers.Cost Focus: The strategy of cost focus is similar to cost leadership and it concentrates onparticular niche market. Busy Bee can apply this strategy often gain consumer loyalty athigher level.Differentiation focus: This is just opposite to cost leadership strategy. In this, companyfocus to be unique in their industry. With the help of this Busy bee may provideinnovative and standard quality products rather than simply selling low cost items.1

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