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Report on Strategic Management A2B Company

   

Added on  2019-12-03

14 Pages3945 Words171 Views
Strategic management

TABLE OF CONTENTSINTRODUCTION.................................................................................................................................1SECTION 1...........................................................................................................................................1Concept of strategy............................................................................................................................1Elements of the strategic management process..................................................................................1Role of values, vision and mission statements in the strategic management of organisations............2Different approaches to formulating strategy.....................................................................................2Influence of the external environment on strategy formulation.........................................................3SECTION 2...........................................................................................................................................3Differentiates between organisations’ general competitive and internal environments......................3The tools available for the analysis of the general, competitive and internal environments...............4Appropriate tools to analyse actual organisational environments......................................................5Role of organisational strategy in achieving competitive advantage..................................................6SECTION 3...........................................................................................................................................7How organisational processes can support implementation of organisational strategy......................7Evaluation of different approaches to strategic change......................................................................7Place of strategic control and reward systems in supporting the implementation of organisational strategy..............................................................................................................................................8Role of administrative manager in designing and implementing organization strategy.....................8How administrative management can be used to facilitate implementation of strategy across the functional areas of organisations.......................................................................................................8CONCLUSION.....................................................................................................................................9REFERENCES....................................................................................................................................10

LIST OF FIGURESFigure 1Porter's five forces....................................................................................................................7

INTRODUCTION In today’s highly competitive environment most of the organizations are trying toadopting some of the best strategies through which they can gain higher competitiveadvantage. Strategic management can be defining as a most important strategy of companythat manager carry out to achieve better performance. With the help of better strategicimplementation as well as formulation organization can achieve their target market andenhance their sales equally (Learning, 2005). The present report is based on the case of A2BCompany which has been growing rapidly over the past 18 months. This is a family ownedbusiness which has been passed through several years. They have been making policies andtaking all the strategic decisions. Due to the various emerging opportunities and changingtime they are planning for further growth and development. This study suggests the mainelement of strategic management to the owner and director of A2B firm. With the help ofbetter strategic decision they can successfully apply strategic management to maintain growthand gain from these developments.SECTION 1Concept of strategy Strategy can be defined as a plan or action that is particularly designed to achievegoals as well as objectives of organization. The top management of organization is highlyconcerned about the selection of a course of action through which they can meet theorganizational objectives (Hill, 2012). It can also be define as a process under whichobjectives are formulated and achieve is known as strategic management. In addition to this,company can easily move towards the set of objectives by using its resources. It is the bestway under which they can design the overall plan to achieve those goals. Further, formulatingappropriate strategy helps the company to meet its uncertain situation with due diligence. Elements of the strategic management processThe process of strategic management can be define as a important part of organizationunder which top management team can consider how various resources such as money,personnel and time impact the environment (Bloodgood, 2008). There are basically four keyelements of the strategic management process: Environmental scanning: This is essential element which involved in lookingforward at how internal and external factors affect the success of organization. This involvescreating a SWOT analysis as well as further strategic planning accordingly. 1

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