2. Introduction
• Management is defined as a process of working with employees to achieve
organizational objectives within a changing environment.
• Management comprises of Planning, Organizing, Leading, and Controlling
(POLC) an organization.
• The organizations implement the management strategies to produce the
useful outcomes while balancing efficiency and effectiveness and coping with
a changing environment.
3. P-O-L-C Framework
• The starting phase of a P-O-L-C framework in any firm is a ‘planning’ to
achieve organizational goals and objectives.
• This phase helps the managers to manage the business formulation and
implement the strategy successfully across organizational functions.
• The organizational arrangement patterns and resource allocation can be
optimized.
• Business planning provides suggestions about implementing the strategy in a
real-time environment by managers.
4. Strategic Management in P-O-L-C
Framework
• All companies, including small, medium, and large types of organizations use
the strategic management concept.
• The corporate strategy formulates based on various factors like resources,
businesses, capabilities or activities.
• For example, the corporate strategy at McDonald’s assists the managers in
analyzing the business operations efficiently.
• The strategic management fosters the managers to make efficient decisions
that leads to the business growth and success.
5. Corporate Strategy
• The significant aspects of corporate strategy in any firm are involved synergy and
diversification.
• For an instance, the food outlets are better when the valuable input shares into
businesses and common ownership.
• Although firms would be competitive with their diversification, the synergy need to
be maintained for certain businesses like integrated operations to gain business
success rather than individual business operations.
• For example, Pizza Hut shows diversification in providing its products to the
consumers. Some companies merge with other organizations to manage the synergy
and diversification aspects.
6. Contd…
• It’s essential to consider a strategy to accomplish the objectives in a business.
• Choose the required strategy like horizontal, concentric, and conglomerate
diversification based on business needs.
• For example, McDonald’s implement a concentric corporate strategy that
focuses on existing customers and being competitive with the other
companies in the industry like Taco Bell and Burger King.
7. Strategy Inputs
• The inputs for implementing a strategy within a firm are included the
analysis of internal characteristics and external marketing conditions.
• SWOT analysis can be used as a strategy input tool and helpful for managers
to determine the strengths, weaknesses, opportunities, and threats of an
organization.
• The organizational analysis includes evaluating strengths and weaknesses and
the environmental analysis of a firm involves opportunities and threats.
8. Internal Analysis
• To analyze the internal characteristics or features of a firm, the internal
analysis tools can be used, such as the value chain and the VRIO.
• The value chain provides internal strengths of an organization and VRIO
offers a competitive advantage.
• The internal analysis based on strengths and weaknesses of an organization
brings a strong design and marketing capabilities of a particular brand that
will improve the customer satisfaction and increase the brand sales.
9. External Analysis
• The industry and PESTLE analysis are two different tools used for assessing
the external environment and competitors of an organization.
• The competitive environment of an organization can be demonstrated using
external analysis.
• However, the managerial decisions and organizational performance impacted
by the internal and external analysis.
10. Conclusion
• Implementing the strategic management process is important for all
organizations based on P-O-L-C framework.
• The strategy formulation is relied on the planning of a strategy that followed
by O-L-C.
• The management team will make decisions efficiently based on SWOT and
PESTLE analysis tools for internal and external analyses, respectively.
• It will be useful for firms to achieve their desired goals and objectives
through the effective corporate strategy.
