International Strategic Management Essay

Essay about International Strategic Management
International Strategic Management
Strategy is usually related and sometimes confused by people with planning. But as time course shows in the study of companies, there are different
approaches of how a company can develop its strategy. Johnson, and Shcoles, in their book "Exploring Corporate Strategy" had studied the different
ways that companies develop their strategy. The authors had formulated and structured three general ways how companies build it, there are: the
design, experience and ideas lenses. "Exploring Corporate Strategy" literature explains that these are the main streams how people perceive that
strategies are developed, but these streams are not exclusive but inclusive and can be combined to develop each company's...show more content...
They stated "In truth, we had no strategy other than the idea of seeing if we could sell anything in the US", so from their lens, the strategy was to
explore a different environment and find a niche to position the company. By the other hand at the beginning they appoint that they try to adopt an
experienced strategy, by going directly to the retailers, but the situations with the large machines lead to a changing environment that pushed them to an
emergent strategy.
Mr. Honda was more an ideas lens strategy leader; by encouraging he's executives to generate ideas to "success against all odds". He didn't established
a rigid strategy by ordering to focus in certain product, he foster the emergent patterns, and acted as a coach.
Every company uses or finds different ways to develop their corporate strategy. While Honda preferred to manage with the emergent opportunities in
order to construct their expansion strategy, Ericsson in the counterpart designed their corporate strategy based in analysis and planning, "The Company
made a bold strategic change, forming an entirely new business area, Ericsson Information Systems". Their strategy included the acquisition of new
technologies, resources, etc. Ericsson's designed strategy failed, "...but the market growth predictions faltered immensely and so did profit
expectations". As result of
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Strategic Management Essay
Strategic Management
Introduction
To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper, managers need advanced processes they feel
will facilitate the optimal positioning of the business in its competitive environment. Such positioning is possible with strategic management because
this process improves preparedness for unexpected internal or competitive demands.
Therefore, strategic management is an all–encompassing approach for formulating, implementing and evaluating managerial decisions in a way that
permits the business to reach its objectives.
For a strategic management plan to be successful, however, every manager should:
Clearly see the need for change
Be...show more content...
John, 44–59).
Understandably, organizations with diverse operations due to multiple products, markets or technologies also tend to use more complex strategic
management systems. Despite differences in detail and degree of formalization, the basic components of the models used to analyze strategic
management operations are very similar.
The strategic management process is based on the belief that businesses should continually monitor internal and external events so timely changes can
be made. To survive, firms must be able to identify and adapt to change. This involves timely planning, directing, organizing and controlling of the
strategy–related decisions and actions of the firm (Camerer, 195–219).
The strategic management process is sometimes improperly perceived as a unidirectional flow of objectives, strategies and decision parameters from
management to the employees. In fact, the process should be highly interactive since it is designed to stimulate input from creative, skilled and
knowledgeable people working at every level of the business.
Tools Used in Strategy Development
This section very briefly describes several key tools that can be used during the course of strategy development and strategic planning. The list is not
intended to be comprehensive but to illustrate the types of tools

Strategic Management Essay
Strategic Management and Planning is a course of decisions and actions which ultimately lead to the development of a strategy to help a company
achieve their objectives. Strategic planning focuses on the company's long term range and how to accomplish what is laid out. Effective planning will
help to prevent problems, provide a response if problems occur, and make available information and support needed to maintain public awareness,
safety, and confidence.
How do the two UCB's strategic IT plans stack up against the Baldrige criteria for assessing strategic planning? The Baldrige criteria are a series of
questions that are not routinely asked on how an organization or company can function more efficiently. The purpose of these...show more content...
2. Seamless, integrated, immediate, and continuous self–service access to information and services.
3. Robust technology tools to support collaboration.
4. Access to tools and data/information that enable community members to develop their own integrated solutions.
The UC–Bolder defined their strategic objectives as the following:
1. Universally available wireless network including all campus buildings and strategic open common spaces as well as access to a campus VPN.
2. Faculty purchase and renewal program allowing all faculty a significant subsidy for a new computer every several years.
3. Free antivirus and encryption to protect data as well as access to a variety of major software licenses.
4. Integrated email, calendaring, and scheduling (Exchange).
5. Accessible and multi–layered IT support including both centralized and dedicated IT personnel.
6. Classroom and online IT training.
The Baldrige concepts also ask the universities to ensure that they have proper resource allocations for their strategic visions. In other words, how do
the universities convert their strategic objectives into action plans through resource allocations? CU–Boulder's Information Technology Services has
approximately 270 employees. CU has clearly defined how they will allocate their IT resources to ensure they meet their strategic goals. CU–Boulder's
IT allocation is as follow:
1. Campus

Global Strategic Management Essay
Global Strategic Management
Executive Summary
In the international competitive environment, the ability of an organization to develop a transnational organizational capability is the key factor that
can help the firm adapt to the changes in the dynamic environment. As the fast rate of globalization renders the traditional ways of doing business
irrelevant, it is vital for managers to have a global mindset to be effective. Globalization of business has led to the emergence of global strategic
management. A combination of strategicmanagement and international business will result in strategies for global cooperation.
Background
Strategic management is a relatively young subject. It has its roots in the economic and social...show more content...
The characteristics of strategic management decisions depend on the level of decision–making hierarchy. Corporate–level decisions are value oriented,
conceptual, have greater risk, cost and profit potential. The functional–level decisions are usually quantifiable, operational, and periodic and lead
directly to implementation of the overall strategy at the corporate and business levels. The business–level decisions are strategic decisions that fall
between those of corporate–level and functional–level decision making.
There are many forces that influence the design of strategic management systems. They can be classified into six major categories: 1. Organization –
small or large firms. 2. Management styles – democratic, authoritarian, policy maker, intuitive thinker, experienced in planning. 3. Complexity of
environment – stable, severe competition, many markets and customers. 4. Complexity of production processes – capital intensive, labor–intensive,
high technology, long production lead time. 5. Nature of problems – new, complex tough problems. 6. Purpose of planning system – coordinate
division activities, and train managers. (Pearce and Robinson, 1985).
Being strategic, ontologically speaking, is not a personal characteristic, but a management model: it necessarily requires interaction with different areas,
from the company's internal areas to the market's, the development of

Reflection Paper On Strategic Management
This reflection paper will cover the lessons that I have learned from the cases and readings. Most importantly it will expand on classroom discussions
with Professor Dew and my peers; it is here where I believe that I found the most valuable education. I will conclude with how this course has
influenced my way of thinking and how I will plan to apply these acquired Strategic Management lessons in my future assignments and military billets.
Thru the course I have learned that Strategic Management builds on many processes and that various companies and organizations with diverse
backgrounds can teach us valuable lessons. To be on the lookout for what can be considered a beneficial development in an organization or perhaps
what can be a bad plan plausibly implemented at the wrong time.
As military members we are educated to think very linearly about strategy. For many years we have been trained to have a strategic thought process
based on the use of a methodology that espouses three major steps: Ends (Objectives), Ways (Strategic Concepts), and Means (Resources). (Barber
1997)
However I have learned that goals and objectives of an organization are in continuous change and they suffer from a lack of adaptation, "our
problems" evolve and we fail to perceive the subtle and not so subtle changes as well as not adjusting accordingly to the drift in direction (inertia).
That is why I think that a course such as this one is very valuable and offers many trends that are current

Strategic Management.Pdf
What is strategic management? The set of managerial decisions and actions that determines the long–run performance of an organisation.
Strategic management
Robbins, Bergman, Stagg, Coulter: Management 4e © 2006 Pearson Education Australia
4
5
Why strategic management is important
1. 2.
The strategic management process
It results in higher organisational performance. It requires that managers examine and adapt to business environment changes. It coordinates diverse
organisational units, helping them focus on organisational goals. It is very much involved in the managerial decision–making process.
3.
4.
Robbins, Bergman,...show more content...
Growth strategies Concentration

Focusing on a primary line of business and increasing the number of products offered or markets served.
Types of growth strategies
Concentration Vertical integration Horizontal integration Diversification
Vertical integration
Backward vertical integration: attempting to gain control of inputs (become a self–supplier). Forward vertical integration: attempting to gain control of
output through control of the distribution channel and/or provide customer service activities (eliminating intermediaries).
16
17
Growth strategies (cont'd) Horizontal

Nature of Strategic Management
Fred R. David
"Strategic Management. Concepts and Cases", 9th edition, Pearson Education, Inc., 2003
ISBN 0–13–112372–6
Chapter 1: S.N. Levine, The Investment Managers Handbook, Irwin Professional Publishing
CHAPTER OUTLINE
What Is Strategic Management?
Key Terms in Strategic Management
The Strategic–Management Model
Benefits of Strategic Management
Why Some Firms Do No Strategic Planning
Pitfalls in Strategic Planning
Guidelines for Effective Strategic Management
Business Ethics and Strategic Management
Comparing Business and Military Strategy
The Nature of Global Competition
CHAPTER OBJECTIVES
After studying this chapter, you should be able to do the following:
1. Describe the strategic–management process.
2. Explain the need for...show more content...
The price and quality of a firm's products and services must be competitive on a worldwide basis, not just on a local basis. A "Global Perspective"
box is provided in all chapters of this text to emphasize the importance of global factors in strategic management. A second theme is that electronic

commerce (e–commerce) has become a vital strategic–management tool. An increasing number of companies are gaining a competitive advantage by
using the Internet for direct selling and for communication with suppliers, customers, creditors, partners, shareholders, clients, and competitors who
may be dispersed globally. E–commerce allows firms to sell products, advertise, purchase supplies, bypass intermediaries, track inventory, eliminate
paperwork, and share information. In total, e–commerce is minimizing the expense and cumbersomeness of time, distance, and space in doing business,
thus yielding better customer service, greater efficiency, improved products, and higher profitability. The Internet and personal computers are changing
the way we organize our lives; inhabit our homes; and relate to and interact with family, friends, neighbors, and even ourselves. The Internet promotes
endless comparison shopping, which thus enables consumers worldwide to band together to demand discounts. The Internet has transferred power
from business to individuals so swiftly that in another decade there may be "regulations" imposed on groups of consumers. Politicians may

What are the most significant differences between the planning/design/positioning schools of strategic management and the resource based view?
Define the planning of strategic management:
Strategic planning can be defined as a process of organization that defining its strategy, direction, and making decision about resource to pursue its
strategy. For the defining organization's direction, its must be understand the current position and find out the way to making it successful. Generally,
strategic planning must be including one of three key questions:
1."What do we do?"
2."For whom do we do it?"
3."How do we excel?"
Define the design of strategic management:
Strategic design can be defined as a using of future–oriented design...show more content...
Strategic positioning of Lenovo
Strategic positioning of Lenovo focus on three main factors such as: high–end, middle and high–end combination of market positioning methods.
Middle and high–end cannot only guarantee the Lenovo position in the market but also continue bring the image and status in consumer's mind.
Hence, nowadays all of computer manufacture face to the decrease of profit lead to Lenovo decides to choose for high–end positioning, It's will allow
Lenovo company gain competitive advantage from the international market (Gan, 2002).
Low energy is one of essential part for consumer demand of IT industries and it is also an image of the representatives of high–tech enterprise. By
using low energy and market leading–edge technology positioning allowed to enhance Lenovo brand. CustomersвЂџ focus has changed from product
quality and price gradually to control energy consumption, frequency and quiet technology (Jack, Telaote, Lise, 2006).
Strategic planning of Lenovo
Create strong brand awareness; focus on

Essay on Definition Of Strategic Management
What is strategic management?
Strategic management is the art and science of formulating, implementing and evaluating cross–functional decisions that will enable an organization to
achieve its objectives. It involves the systematic idendification of specifying the firm's objectives, nurturing policies and strategies to achieve these
objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm's objectives. Strategic
management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales, production etc. , to achieve
organizational goals. It is generally the highest level of managerial activity, usually iniated by the board...show more content...
An example of a company that currently operates this way is Google.com, the internet search engine.
Strategic management techniques can be viewed as bottom–up, top–down, or collaborative processes. In the bottom–up idealogy, employees submit
proposals to their respective supervisors who, in turn, channel the best suggestions further up the company food chain. This is usually processed
through a capital budgeting system. New ideas are scrutinesed using financial criteria such as return on investment or cost–benefit analysis. The
proposals that pass these initail feasiblity tests form the substance of a new strategy, all of which is processed without an overall strategic design or a
strategic architect. The top–down approach is the most common by far. In it, the CEO (such as Don Sheelen {Regina vacuum cleaners}, Jeff Bezos
{Amazon.com} and Samuel J. Palmisano {IBM}) with more than likely the assistance of a dedicated strategic planning team, decides on the overall
direction the

Strategic Management has been a great experience for me. I finally now have had good strategic training. I'm confident no one else in my organization
has had this high level of strategic training. In fact, I doubt anyone in my organization has ever had legitimate strategic management training. As a
result, I have high hopes from this experience and I plan to use what I have learned on a daily basis.
The following are questions and answers regarding my experiences in Strategic Management:
When you are next faced with the opportunity for strategic involvement in your firm, what lessons from this course will you apply to the situation?
Why did you select these lessons?
The first action I will take will be to perform a SWOT analysis. A SWOT will aid me in defining reality and identifying strengths, weaknesses,
opportunities, and threats. This tool was the most practical one presented for government employees, like myself. The second most useful tool is a
value–chain analysis allowing leaders to identify ways or pull levers to reduce friction between work–units, creating more value. Using a value–chain
analysis will allow me to identify deficiencies in performance, enabling me to identify ways for different work–units to complement one another better.
I also now realize the importance of making sure the economics strategy are appropriate whenever I making strategic decisions. Finally, I was reminded
by this course the importance of communicating and personifying

Benefits of strategic management Essay
"Research has revealed that organisations that engage in strategic management generally out–perform those that do not"
The connotation of the ancient Greek word "strategos", in its various grammatical forms, implies meaning of skilful manoeuvouring leading to
achieving a highly crucial position or attaining a desired end. Commonly associated with the military operations, strategies aim at methodical
out–performance of adversaries. Analogically, application of deliberate strategies in the businessmanagement context suggests combination of activities
directed at becoming superior to business opponents. Hence, it can be assumed that engaging in these activities will produce better business results
than not doing so.
This essay attempts to...show more content...
Social forces, represented by "norms and values that characterise the people in a culture" (Davidson & Griffin, 2003, p. 35) influence demand of
the management process stakeholders. Economic factors encompassing "systems of producing, distributing and consuming wealth" (Bartol, Martin,
Tein & Matthews, 1998, p. 92) impose economic ground rules on the management activities. Political elements define legal boundaries in which
the management process occurs. These dimensions are dynamic and evolve adequately to the cultural and technological progress of the civilisation. In
consequence, they affect the search for the optimal performance.
Management has been practised for thousands of years. It is believed that Egyptians "proposed limits to the number of men that one supervisor could
effectively manage" (Davidson & Griffin, 2003, p. 38) around 1750 BC. Remarkable assembly–like production system of the Venetian shipyard in
the Middle Ages is often thought of as a precursor of the Operations Management. The importance of the field has been emphasised by the theoretical
work since Socrates and Plato. As a field of knowledge, however, management developed due to the environmental changes posed by the industrial
revolution and growth of factories in the early 1800s. Wealthy factory owners expected better returns for their resources input into the production
system and workers expected better remuneration for their effort. Political system evolved to its capitalist stage

1.0 Introduction
Strategic Management focuses on the long–term scope and direction of the organization which enables it to achieve advantages through matching
resources to the changing environment to meet the need of the market and fulfill stakeholder's expectations. The following is a strategic analysis of
Manchester United, a member of the Barclay's Premier league in the 2009 – 10 football season. This analysis is divided into three parts, namely; Market
environment Analysis, Football Club Strategic Analysis and Strategic fit analysis.
Table of Contents
Chapter
Topic
Page
1
Introduction
I
2.0
Market Environment Analysis
1
2.1
The Barclay's Primer League
1
2.2
PESTEL Analysis
2–3
2.3 Porter's Five Forces Model
3 –...show more content...
Economic

While most economies have been experiencing decline in some sectors, Football continues to be one of the world's most popular sports and generates
significant revenues for countries, football associations, leagues, clubs and players across the globe. The Barclay's Premier League is the world's most
watched league and the most lucrative, the most talented players from across the globe participates in this league.
Social
Sport is a major unifying factor locally, regionally and globally. The Barclay's Primer League provides entertainment to millions of fans while
bringing together top players from different countries to play side by side and compete against others. Football provides career opportunities for
players and breaks down barriers of race, social status and nationality thus allowing them to realise their dreams. Furthermore many young men see
football players as role models and are inspired by their achievement to achieve greatness in sport and many other areas.
Technological
Improvements in technology have revolutionized the way football is viewed allowing for immediate replays and slow motion viewing. Additionally
scores can now be sent directly to mobile phones allowing fans to keep track of their favourite team's success during the season.
Environmental
Issues such as proper disposal of garbage during and after matches are of key importance as being

Essay on Strategic Management
This essay critically analysis Strategic Management and its effect on the various levels of hierarchy.
"Strategic Management consists of the analysis, decisions, and actions an organisation undertakes in order to create and sustain competitive
advantages."(Dess,Lumpkin,Eisner,2010)
"Strategic Management is the process of identifying, evaluating and implementing strategies in order to meet the organisational objectives." (Chris
Jeffs,2008). Chris Jeffs(2008)says that strategic management provides with the tools necessary to study the internal and external environment and this
is important as it helps in decision making. Johnson and Scholes however thinks strategic management apart from all that should also...show more
content...
Basically SWOT analysis places the organisation in relation to its market and competition.(Aaron Smith et al.). General environment consists of factors
that cannot be predetermined or predicted but affect the organisation. General environment consists of Demographic, Economic, Social, Technological,
Environmental and Political or DESTEP. Since the internal and external factors are taken into consideration simultaneously and because of its
simplistic nature the SWOT analysis has gained high popularity. (Dess et all).
3. Strategic options – The results from strategic analysis are taken into consideration and potential strategic options are worked out and ranked in order
of efficiency. 4. Strategic plan – In this step options are converted into actions. This step consists of implementing and carrying out the strategic option.
5. Strategic evaluation – Key performance indicators are used to identify and efficiency of the strategic plan chosen. This is the stage where effect of
the strategic plan is assessed. Whether the plan of action was a success or failure.
Let us now move onto Organisational behavior which in all aspects affects strategic management.
"The study of human behavior, attitudes, and performances within an organizational setting; drawing on theory, methods, and principles from such
disciplines as psychology, sociology, political science, and

Essay about Strategic Management
Strategic management is the art, science and craft of formulating, implementing and evaluating cross–functional decisions that will enable an
organization to achieve its long–term objectives. It is the process of specifying the organization's mission, vision and objectives, developing policies
and plans, often in terms of projects and programs, which are designed to achieve these objectives and then allocating resources to implement the
policies, and plans, projects and programs. Strategic management seeks to coordinate and integrate the activities of the various functional areas of a
business in order to achieve long–term organizational objectives. A balanced scorecard is often used to evaluate the overall performance of the business
...show more content...
Within this phase, a chain of command should be put in place, pairing individuals with the right skills, knowledge, and experience with the business's
needs and objectives. From there, responsibilities for processes and tasks should be distributed across the full chain of command, delegating work to
teams and individuals so that they company's goals can be attained through the combined efforts of all employees. This includes communicating
responsibilities and deliverables (what needs to be done, and how the results of those tasks will be measured). Finally, strategic management entails
allocating the right amount of resources to the different parts of your business so that those assigned to particular goals have what they need to meet
their objectives. This ranges from providing your workers with the right supplies to enacting systems by which employees receive the necessary
training, all work processes are tested, and all information and data generated is documented. To effectively manage your business strategically, every
inch of your company must have its needs met in these ways, so all parts can work together as a seamless, highly functioning whole. A critical but
often overlooked aspect of strategic

Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.
It gives the organization a sense of its objectives and a sense of how it will achieve these objectives. For Michael Porter, one of the leading strategy
gurus, strategy is about achieving competitive advantage through being different. This means offering buyers a unique value, to increase their number
and keep them as customers. For example, Southwest Airlines, and Ikea have developed unique, internally consistent, and difficult to imitate systems
that have provided them with sustained competitive advantage.. Analysis When the firm has specified its objectives, it starts to analyse...show more
content...
Retrenchment, which means, for example, the reduction of labour or the withdrawal of products, can result from a decline in demand or changes in
competition. It is usually used to save the company from insolvency and to secure its position in the market through concentrating on its core
competencies. Stability, often chosen after rapid growth periods or also in terms of bad market conditions, is used to strengthen an organizationпїЅs
position and its products in the market. The growth strategy is chosen to extent its position in the market, or to expand in new markets. Growth in
terms of products and services can be achieved through fostering market penetration, product/market development or diversification. To explain
diversification, the company Honda serves as a good example. The firm diversified forward when they started with producing motorbikes besides
their Otto engines, in 1947. In 1963, when Honda started to produce cars additionally, it diversified horizontally. If the firm now started to produce
tyres for their vehicles, it would be a backward diversification. In case they started to produce sweets, it would be an unrelated diversification. When
the kind and direction of a strategy are clear, this information and its scope have to be clarified. Internally it is done through SMART objectives:
Externally it is clarified through the mission statement, which doesnпїЅt intend to make objectives measurable, but is more

Strategic Management : Jaguar Land Rover
Word Count:
STUDENT ID: K1501060
Strategic management: Jaguar Land Rover
1
Executive Summary:
Jaguar Land Rover is one of the most prestigious manufacturers of luxury cars in the world. The business was built around two premier British car
brands Jaguar Cars Ltd, manufacturer of luxury saloon and sports cars, and Land Rover, a leading brand in the premium 4X4 segment. JLR is currently
owned by Tata Motors Limited, a subsidiary of Tata Holding, since 2008 after its acquisition from Ford Motors for ВЈ1.15 billion (Blitterswijk and
Karadozhor, 2009).
In order to plan for the future of JLR in the automotive industry, a scenario analysis of JLR's future operations has been conducted. This scenario
analysis for the year 2035 has allowed to produce four specific scenarios based on two important factors set through an external analysis of the
environment that JLR operates in. from this analysis, strategic implications of changing trends have been taken into consideration in order to suggest
alternative plans for JLR in a 20 years' period.
The following step in analysing current JLR's strategies and possible future ones was to investigate the parent company of Jaguar Land Rover and
determine the fit of JLR within the company's portfolio. The goal of this analysis is to determine whether there is a synergy between the different
components of Tata's portfolio and its capabilities with JLR, and draw conclusions about how the board ought to increase this fit and use this
acquisition to

Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this
strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through
which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions: "What do we do?",
"For whom do we do it?", and "How do we excel?". In many organizations, this is viewed as a process for determining where an organization is going
over the next year or more typically 5 years (long term), although some extend their vision to 20 years. Organizations sometimes summarize goals and
...show more content...
As environment is dynamic, it becomes essential to identify competitors' moves and actions. Organizations have also to update the core competencies
and internal environment as per external environment. Environmental factors are infinite, hence, organization should be agile and vigile to accept and
adjust to the environmental changes. For instance, Monitoring might indicate that an original forecast of the prices of the raw materials that are
involved in the product are no more credible, which could imply the requirement for more focused scanning, forecasting and analysis to create a more
trustworthy prediction about the input costs. In a similar manner, there can be changes in factors such as competitor's activities, technology, market
tastes and preferences. While in external analysis, three correlated environment should be studied and analyzed this are industry environment, national
environment and macro–environment. Examining the industry environment needs an appraisal of the competitive structure of the organization's
industry, including the competitive position of a particular organization and it's main rivals. Also, an assessment of the nature, stage, dynamics and
history of the industry is essential. It also implies evaluating the effect of globalization on competition within the industry. Analyzing the national
environment needs an appraisal of whether the national framework helps in achieving competitive advantage in the globalized

Strategic management and decision making Strategic management is a disciplined effort or control to make necessary decisions that have an effect on
a business or an organization; the aim of strategic management is mainly to develop new, innovative or diverse ideas and opportunities for potential or
development, and facilitates or assists an organization to achieve its goals (SM, 2010). In reality, strategic management not only can be used or applied
to determine mission, vision and values or objectives, but it also establishes roles and responsibilities or timelines in a business (David, 2009). In the
following sections, this study will focus on and examine the nature of strategy formulation, implementation, and evaluation...show more content...
Strategic management is adaptive and keeps an organization relevant (S.M, 2010, p.1).
There are three main processes of strategic formation, Kim and Mauborgne (2005) suggests:
1)Carrying out situation and competitor analyses with self–evaluation (both internal and external, and in cooperation with micro–environmental and
macro–environmental);
2)Simultaneous with this assessment, business goals are set; all objectives (short–term or long–term) should be parallel to a time–line––this includes
creating vision statements (long term view), mission statements (the role that the firm gives itself in society), company and business unit strategic and
tactical objectives; and
3)Together with the situation analysis, these objectives should put forward a strategic plan which presents the aspects and details of how to accomplish
these goals or targets.
Overall, strategic management not only can help management focusing its energy, and ensure that employees are working toward the same objectives;
consequently, it also can assess and adjust the firm's direction in response to a changing environment (David).
Potential pitfalls In the subjects of potential risks or pitfalls in using a strategic–management approach to decision making, David (2009) examines and
argues, strategic management

Swot Analysis : Strategic Management Essay
Strategic management has brought together all the areas I have learned in the business program; some better than others, but all. Intermediate and
advanced accounting seemed to help me with the ratio analysis because I got to analyze the financial statements of a company and use them to
calculate ratios such as: profitability, liquidity, and capital structure ratios. To implement a suitable strategy for our cases, I had to calculate the ratios
to find out how liquid the company was, and if it could pay bills on time. It also showed the company's return on investments and how the purchase of
assets was financed. It was difficult understanding what line item on the financial statement affected each of the ratios. For example, I know gross
profit margin was affected by sales and COGS, but I was not sure what else fit into the equation. I still do not fully understand every individual ratio in
the analysis, but I do understand how to compare a company to the industry. The other classes I have taken in the college of business such as; operations
management and management information systems helped me understand the implementation and control part of the case work we had to do. I
believe I will use operations management when I get out into the workplace because companies are keen on sales and efficiency, therefore, a consistent
business model is important.
Strategic management analyzes all the functional areas of a business and really makes you understand all the strategies that

International Strategic Management Essay

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