Strategic Management: Process, Models, and Tools

Strategic Management
MODULE GUIDE
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Table of Contents
1 INTRODCUTION TO STRATEGIC MANAGEMENT.........................................................3
2 To Examine the process used by the Marks & Spencer to determine their strategy................3
3 Evaluation of the critical models as well as tools used by the organization to determine the
strategy.........................................................................................................................................4
4 An application of tools to a real organization .........................................................................5
Porter's generic strategies are also mentioned below...................................................................7
5 Importance of change management.........................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10
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1 INTRODCUTION TO STRATEGIC MANAGEMENT
Strategic management is considered as the management of an organization's resources to
accomplish its goals as well as objectives. It includes setting objectives, evaluating the competi-
tive environment, evaluating internal organization and strategies. It engages the invention and
implementation of the major goals decided upon by the to level management of a company. In
other way it is the amount total of each the bright decision talking by the bosses across the group
at dissimilar points of period for the benefit and hit or achievement of the group and it is done
mainly on the base of swot analysis . Strategic Management is recognition and design of the
strategies that management applies in order to achieve excellent financial marks or calculations
for their group, particularly, in contrast to the competition in the same business.
It also assures that management roles out the strategies across the Firms. With the help of the
strategic management it extends to the internal as well as external communication practices and
tracking that assures that the firms meet its goals. Present report lay emphasis on the Marks &
Spencer Group plc is a major British M.N.C and it headquarter is in Westminster, London. Re-
port focuses on the Process used through Marks & Spencer to describe their strategy. It also fo-
cusses on the evaluation of the models as well as tools that can be used by Marks & Spencer to
determine their strategy. Furthermore, it focuses on the application of these tools of Marks &
Spencer. It appraises the significance of change management based on the complexity of the
transformation process, its risks, its sustainability and its cost (Hitt. and Duane Ireland,2017).
2 To Examine the process used by the Marks & Spencer to determine their strategy.
The strategic planning process have some steps such as direction of the organization,
success and results from the strategic plans, staff surveys, environment scans.
Pestle analysis-Outside the business there are various factors affects such as political, economic,
technological, social, legal that the business operates (Ansoff.and et.al., 2018).
Swot with the strategic management process there is also evaluation of the internal situation and
process that affect the future of the organization in terms of weakness and strengths. There are
various factors that affect the business of the Marks & Spencer such as opportunity and threats
(GHitt. and Duane Ireland,2017).
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