Successful Strategic Thinking

Module name : MBK7004M Successful Strategic Thinking
Project title : Successful Strategic Thinking
Effective word count (words used) : 6267
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Successful Strategic
Thinking
Abstract
The following project focuses on Successful Strategic Thinking. This project will deliver the
ideas and theories that I learnt from the module. Referring the ideas and theories, I found out
some documents, books, and article regarding the Successful Strategic Thinking. Apart
from this literature review and various research methodology is being discussed in this
project. Including my own experience and cases in my organization.
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Table of Contents
INTRODUCTION.....................................................................................................................5
MAIN BODY.............................................................................................................................5
Literature review of key theories related to strategy developed and implementation...........5
Porter's strategy theory criteria:.............................................................................................6
Ansoff matrix:........................................................................................................................8
A critical analysis related to theories.....................................................................................9
People of organisation involved in organisational strategy.................................................13
Recommendations about how strategic processes within the organisation could be
improved..............................................................................................................................17
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INTRODUCTION
Diverse definitions represent different perspectives on the principles of strategy
processes and their consequences for businesses and non-profits. Strategic processes are high-
level processes that companies and institutions face in their day-to-day operations. They
might include duties that require a high degree of intellectual capability and have a broad
impact on the structure and operation of businesses, organisations, or corporations. The
nature, organisation, and operation of these strategic processes can be likened to those
performed by the human brain, which are primarily concerned with intellectual talents and
talents. Within and outside the company, several aspects of strategic processes may be
noticed.
The policies, plans, and planning objectives that an organisation incorporates into
operations to improve its performance have a significant impact on strategic processes. This
paper will consider the characteristics of strategic processes in general, the theories and
models that are essential in implementing strategic processes, and recommendations that are
relevant to the implementation of these processes to improve the functioning and
performance of a business organisation in order to better understand strategic processes.
MAIN BODY
Literature review of key theories related to strategy developed and implementation
As per the view point.......A business strategy helps to achieve goasl and objectives It
also helps in long-term business planning. A corporate plan is usually written for a period of
three to five years (sometimes even longer). It can defined as set of principles that help in
working effectively and achieving goals and objectives. Along with that it is based on
effective It is therefore about how employees at all levels of the business should make
choices and allocate resources in order to achieve critical goals.
As per the viewpoint of ....... There are number of authors who provided there contribution in
business strategies Because of his willingness to challenge previously hallowed principles in
business and management, Henry Mintzberg has been dubbed "the great management
iconoclast." His common sense approach to management difficulties has won him a large
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following, and he is arguably most recognised for his work on company strategy, which is
credited with exposing the gaps between academic ideas of strategy and reality. Michael
Porter, the other major modern-day strategist, has published numerous successful books on
business strategy, with a special focus on organisational and governmental competency and
competitiveness. Igor Ansoff, like him, is a well-known contributor to the evolution of
corporate strategy thought and practise. He was a prominent proponent of the 'Planning'
school of thinking, and was widely regarded as one of the pioneers of strategic planning. His
1965 book 'Corporate Strategy' focused primarily on external, rather than internal, concerns
of organisations, such as product matching to various types of markets – Ansoff is one of the
widely used tool and that is still important now a days.
Porter's strategy theory criteria:
Porter's five forces model is intended to discover and evaluate five competitive factors
that assist businesses understand their industry and identify their strengths and weaknesses.
This approach may be applied to any industry to detect and analyse the degree of competition
in the marketplace, as well as to create a company's long-term profile. This model is
commonly used or utilised to analyse a company's structure and business strategy. The five
forces are commonly used to assess and quantify a company's competitive intensity, profile,
and profitability. Porter identifies five forces, which are listed below:
Competition in the industry:
This is the first of the five forces models, and it is based on the number of competitors
and rivalry, as well as their capacity to undercut an organisation. Williamson (Williamson,
2018). If an organization's competitor is capable of providing modified offerings at a cost-
effective pricing, the buyer and supplier look for it. Conversely, when competitive
competition is low, opportunities abound, and the organisation has far more ability to offer
and establish high pricing in order to maximise profit and sales.
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