Strategic Management Report: Tough Mudder Challenges and Solutions

This report examines the business and strategic management of Tough Mudder, focusing on its challenges and potential solutions. The report begins by differentiating between corporate and competitive strategies, and strategy versus tactics, highlighting their roles in business success. It then delv...Read More

Running head: BUSINESS MANAGEMENT AND STRATEGIC MANAGEMENT
Business Management and Strategic Management
Name of the student
Name of the university
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2BUSINESS MANAGEMENT AND STRATEGIC MANAGEMENT
Table of Contents
1. Distinguish between the following concepts:........................................................................3
2. Challenges, faced by Tough Mudder and how should it adapt its strategy to meet these
challenges and exploit the opportunities?..................................................................................3
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3BUSINESS MANAGEMENT AND STRATEGIC MANAGEMENT
1. Distinguish between the following concepts:
Corporate and competitive strategy:
In the highly completive business environment, implementation of appropriate
strategy plays a pivotal role on the way of helping the firms to create a unique position in the
market and thereby strengthen their public image. Corporate strategy defines the mode,
through which an organisation carries out their activities and thereby implement their
planning in the system. On the other hand, competitive strategy paves the way, through which
an organisation can stand in the market and compete efficiently with the rivals. The
organisations prioritises corporate strategy at the highest level of strategic decision making as
it helps the firms to deal with multiple factors such as acquisition and allocation of resources
and set objectives.
Strategy and tactics:
Strategy defines the long term goal of an organisation and the way, through which the
firm can set plan in order to achieve the goal, while tactics deal with the smaller steps, that
are needed to be taken by the firms for the sake of attaining long term success from business.
Strategy paves the way for the firms to accomplish its mission, contrary to which tactics
comprises of specific plans, effective resources and best practice to move the business
towards proper direction.
2. Challenges, faced by Tough Mudder and how should it adapt its strategy
to meet these challenges and exploit the opportunities?
From the case study, it is evident that Tough Mudder is facing major issues in the way
of strengthening their public image and thereby accelerate their statistics of profit. It is true
that, the firm gives utmost priority to have leadership in the extremely crowded market.
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However, as the competition in the market is rapidly increasing, it is important for Tough
Mudder to improve their credibility of designing the courses. In addition, the company should
also maintain dynamic, committed and innovative culture within their organisation, which I
the key of strengthening the degree of spirit among the participants.
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