Strategic Management: Process, Impact, and Business Plan

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Critical assessment of process which is used by company for determining their strategy-.........3
Critical evaluation of impact of external and internal governmental variations on
organizational strategy-................................................................................................................4
Review of organization's Business Plan-.....................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Strategic management is ongoing planning, analysing, monitoring and assessment of all
which is necessary for the company to meet the goals and objectives of company. Fluctuations in
business environment need company to constantly assess their strategies for success.
J Sainsbury Plc is trading as the Sainsbury which is third largest chain of the
supermarkets in UK. The company has the share of 15.3% in supermarket share. It was
established by 1869 by the John James Sainsbury. The above report includes the critical
assessment of process which can be used by company for determining their strategy. Critical
evaluation of impact of internal and external environmental variation on organizational strategy.
The report ends with the business plan.
MAIN BODY
Critical assessment of process which is used by company for determining their strategy-
The strategic management is the process which is more than just set of rules which is to
be followed. It is the philosophical approach for a business. The top management of business
must think strategically first and then apply that thought into the process. It is the process
implemented when each individual in business understands the strategy.
There are five stages in the process of strategic management which are goal setting,
analysis strategy formation, strategy implementation and strategy monitoring.
Clarify your vision-
The main purpose of setting goal is for clarifying vision of the business. This stage
contains identification of key facts that are defining the short and long term objectives. Second
facts is identifying process of how it can be accomplished the objectives of business (Alyoubi,
2015). The last fact is customizing the process of the staff and giving each person a task so that
individual can succeed. Further, keeping in mind within this process is that the goals are to be
detailed, realistic and matching values of your vision.
Gather and Analyse Information-
It is the key stage because information collected in this stage is shaped in next two further
stages. The more information and data are being gathered for accomplishing the vision of
business. The focus for analysing information is on understanding needs of business as
sustainable entity. Strategic direction and identification of initiatives which will help the business
in growing.

Formulate A Strategy-
For developing a strategy is to review information which have been collected by
complete analysis. Determination of resources which currently held by business for reaching the
defined objectives and goals (Ocasio, Laamanen and Vaara, 2018). The areas also identified
where business seeks the external resources. Business and economic situations are fluid, it is the
critical stage for developing alternative approaches which target each step of plan.
Implement Your Strategy-
Successful strategy implementation is the critical to success of the Sainsbury. It is action
stage of strategic management process. If in business overall strategy do not work among
business with current structure, a new structure can be developed at the beginning stage. Each of
the individual among company should have clear for their duties and responsibilities and further
how it can be fitted with the overall goals and objective of company.
Evaluate and Control-
Strategic evaluation and control actions can consists performance measurements,
consistent review of external and internal issues and developing connective action when it is
necessary. Successful evaluation of strategy begins with the defining criteria by which it can be
measured. These set parameters are helpful in goal setting in stage one (Stead and Stead, 2016).
The determination of the progress by measuring actual result versus plan. Further the
determination of strategy is being done and if the strategy is not helpful in attaining the objective
and gaol of business than corrective action plan is to be taken. And then also if its is not
successful than the strategic management process is to be repeated.
Critical evaluation of impact of external and internal governmental variations on
organizational strategy-
SWOT Analysis-
SWOT Analysis is strategic planning technique which is used by company for identifying
strength, weaknesses, opportunities and threats which are related to the business planning or
competition. It can be described below-
Strength
The main strength of Sainsbury which has enabled them to establish their position in
market their innovative promotional strategies. More than half of the advertising strategies which
is adopted by Sainsbury to attract customers are extremely innovative and helps them to pitch