Strategic Management: Types of Strategy, Competitive Drivers, Internal Analysis Tools

Strategic
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Types of strategy in relation to schools of strategy and strategic concepts................................3
TASK 2............................................................................................................................................4
Competitive drivers and the impact on competitive position of company..................................4
TASK 3............................................................................................................................................7
Internal analysis tools to draw appropriate conclusions.............................................................7
TASK 4..........................................................................................................................................10
Strategic choice models to sustain the company’s competitive position..................................10
TASK 5 .........................................................................................................................................10
Resource implications of recommendations that company has to address and critical analysis
and application of strategic implementation models.................................................................10
CONCLUSION..............................................................................................................................11
REFRENCES.................................................................................................................................13

INTRODUCTION
Strategic management include practices like developing objectives, determining
competitive environment, evaluating internal organisation, analysing strategies and ensuring
management of firm. This process is generally adopted by a firm in order to plan its future
activities which help them in attaining pre planned goal or target. It will also lead to enhancing as
well as supporting core competencies of an organisation. Through strategic management firm
able to conduct their practices in effective manner which help them in achieving their determine
target properly. Organisation taken for this assignment is Nokia which is a public limited
company operating its business at telecommunication and networking equipments, mobile phone
and consumer electronics industry. It is founded by Fredrik Idestam, Leo Mechelin and Eduard
Polon in year 1865 (Aguinis, Edwards and Bradley, 2017). Headquarter of Nokia is situated at
Espoo, Finland and it operate at worldwide level. Topics included in report are different types of
strategy which is related to schools of strategy and strategic concept as well as it include model
and concepts for analysing competitive drivers and its impact on competitive position. It will
also include information about internal analysis and different models to for retaining company
competitive position as well as it will also include implication of resources.
TASK 1
Types of strategy in relation to schools of strategy and strategic concepts
Strategy is consider as plan of action which is develop by a company in order to attain
their pre determined goal and target in proper way. In context of Nokia it is essential for them to
develop effective strategies so that they can create as well as conduct process, activities and
operations of business in appropriate way. This is so because proper strategy plays an effective
role in the develop and achievement of goal of a firm as well as it will also help them in assisting
uncertainty which help in improving performance (Ansoff and et. al., 2018). For Nokia it is
crucial to create strategies because it will assist in predicting future of a company according to
which they need to develop decision so that they can overcome issues in effective manner.
Moreover it will also help in attaining predetermined goal and target of respective company in
impressively. Through effective strategies Nokia will also able to influence huge ratio of
potential customers which help them in attracting desire goal. Effective strategic management
lead to achievement of competitive advancement at the potential marketplace from rivalry

competitors. There are numbers of strategies which can be adopted by Nokia for operating
business operations and functions in impressive manner. Some of the main strategies which help
in enhancement of Nokia business are given below:-
 Developing value: It is essential for each and every company to set their values which
attract customers and retain them for a long time period. In this they may develop values
like they will serve quality goods and services to their customers and for the
achievement of this firm need to address several practices. For example consider
customer requirement, develop positive working environment and so on. This is so
because it help in enhancing productivity of staffs which directly lead to attainment of
goal and objective by providing high quality products. Moreover by developing and
maintaining values a respective firm also able to gain high competitive advancement at
the marketplace.
 Transforming business activities: According to this factor company need to transform
their business activities so that they can introduce more effective products and services
which help in attaining goal (Baumgartner and Rauter, 2017). So in respect of Nokia it is
essential for them to conduct transformation in business practices on regular basis so that
they can attain their objective in impressive manner. Along with this it will also help
them in attract more and more potential customers at worldwide marketplace.
TASK 2
Competitive drivers and the impact on competitive position of company
For developing strategies it is essential for a firm to conduct analysis of competitive
market and drivers because it help in determining its position. For which a company can adopt
numbers of methods or analytical tools such as PESTEL analysis, porter's five force model and
so on. Some of the main methods which can be used by Nokia are given below:-
PESTEL Analysis:
 Political factor: This will include factors like political policy, political stability, tax
policy, labour law and many more. Nokia is operating at worldwide level and according
to which they need to follow political consideration of all nations (Bergh and et. al.,
2016). This is so because it help them in develop effective strategies accordingly. United