Strategic Management Report: Strategy, Models, and Change

This report provides a comprehensive analysis of strategic management, focusing on its definition, processes, and applications within organizations. It begins by defining strategic management as the continuous assessment and planning to achieve organizational goals, emphasizing the importance of adapting to a changing corporate environment. The report then details the processes organizations use to determine their strategy, including developing vision, mission, and objectives; conducting business and operation analysis; developing and selecting options; establishing strategic objectives; executing and managing the plan; and establishing resource allocation and reviewing the plan. The application of models and tools, specifically PESTEL analysis, is discussed to analyze external factors affecting organizational success. The report also highlights the importance of change management, considering the complexity, costs, risks, and sustainability of transformation processes. Using John Lewis as a case study, the report illustrates how strategic management principles are applied in a real-world business context, including the impact of political, economic, social, technological, legal, and environmental factors. The report concludes by summarizing the key findings and emphasizing the critical role of strategic management in achieving organizational objectives.