Strategic Management Report: Business Growth and Performance Analysis

This report delves into the realm of strategic management, focusing on the application of effective business strategies to enhance profitability and gain a competitive advantage within the drones and camera industries. It emphasizes the importance of marketing, product standards, and performance in attracting and retaining customers. The report highlights the significance of quality, market share, and sales volume, noting that these factors don't always equate to profitability. It explores various strategic goals, including market growth projections for wearable cameras and drones, based on consumer perceptions and industry trends. The report also examines performance outcomes signaling management success, such as investor expectations and industry benchmarks. Furthermore, it addresses the importance of setting clear strategic goals and achieving desired profit margins through sales, investments, and brand image improvement. References from Thompson et al. (2017) are included to support the analysis.

Running head: Strategic Management 1
Business Strategic Management
Name
Institution

Strategic Management 2
Business Strategic Management
In the near future, companies’ management teams will have to engage strategic actions in order to
improve the profitability of their enterprises. The specific activities should include proper marketing
methods, changing the commodity standard and performance to make the brand more appealing to the
clients. As such, the specific business strategies will be the determinant of which of the premises within
an industry will dominate the market since those that use efficient means will gain a competitive
advantage over others. In the drones and camera industries, it is believed that quality will play a major
role in determining who remains or quit the market due to the scale of sales (Thompson et al 2017).
However, the sales volumes and market shares do not necessarily equate to the profitability since some
companies produce very high quality which is affordable to only a few consumers but make bigger
revenue than those selling at a price close to the expenditure used in the production of the of the same.
Consequently, at this stage when all operators in this market at the same position, some should start
coming up with ideas on how to stand out based on research of the specific means they can take
advantage of.
1. What goals do you have for the company
Globally, it is estimated that the sale of wearable and/or mountable, miniature action-capture cameras is
expected to grow at an annual rate of six to eight percent for next half decade that will then drop to a
percentage of four to six in the five-year period after (Thompson et al 2017). Apparently, the estimate is
not equally distributed in all regions since some may have a rate higher and others less than the figures
given to represent the average. As such, it is assumed that the figures could change based on the
perceptions that consumers get the product such that when they are satisfied, they make more purchases
and vice-versa is true (Thompson et al 2017). As such, entrepreneurs should invest in a survey to
understand what is likely to enhance the image of their brand to be advantaged over the others. It is
assumed that the camera industry is likely to be a huge market with more players due to improvement in

Strategic Management 3
quality as well as low prices due to competition. As such, the current prediction will only be reliable
given that the assumptions about the overall improvement in standards and lower remuneration as well as
efficiency will keep improving. On the other hand, the drones are assumed to take the steady growth of
two percent towards the second half of the century starting now in four regions of the planet as opposed to
fourteen to twenty-one in the places where they have not been established yet (Thompson et al 2017).
From tenth to the thirteenth year, the percentage increase will drop to twelve-and-a-half (Thompson et al
2017). Consequently, the next two years will lead to another decline to drop the percentage to four to six
thus catching up with the range of the rest of the regions. Just like in the camera industry, the drones
should only follow the given trends if the competing firms follow the same trends expected of a growing
industry.
2. Performance outcomes that signal management success
There are two methods of evaluating management one of which is done by assessing the investor
expectations such that if the set targets such as price and image rating and earning per share as well as the
rules of engagement (Thompson et al 2017). Additionally, best-in-industry assessment is based on the
performance of a specific company in comparison to others in the same industry such as the market shares
percentage controlled by the business (Thompson et al 2017).
3. How fast do you want to grow the Business?
Setting strategic goals within a company is the basis of achieving what the company intends to.
As such, decisions made should be effective within specific time-frames to ensure that the intended
results are achieved (Thompson et al 2017). Consequently, the brand image and investment decisions
should be within the specified time to allow for steady growth.
4. By how much would you like to increase the profits by the end of simulation process?

Strategic Management 4
Profits are made by the sales as well as other investments in the company such as equity markets.
As such, if earnings per share, as well as sales targets, are met the desired revenue is automatically gained
(Thompson et al 2017). In addition, when the brand name is improved, their share value increases which
in turn increase the proceeds of the premises.
References
Thompson, A. A., Stapenbeck, G. J., Reidenbach, M. A., Thrasher, I. F., & Harms, C. C. (2017). Glo-
Bus: Developing winning competitive strategies. Participant’s Guide.