1. The document discusses different strategic approaches including competitive, competence, and core competence approaches. It analyzes the organization's resources using VRIO framework to identify sources of sustained competitive advantage. 2. Strategic planning, financial control, and strategic control are described as three styles of relationship between corporate centers and business units for strategic decision making and control. Strategic planning involves centralized master planning while financial control focuses on decentralized performance targets. 3. Strategic control refers to monitoring deviations from the original strategy and implementing corrective measures by establishing reference points and methods to measure strategic effectiveness and efficiency.

1. 1
Assignment Format
Name : Moh Moh Khine
Student Account No. : RBS00048
Program : RBS-MBA Program
Batch : 9
Subject : Strategic Management
Lecturer Name : Dr. Than Soe Oo
Assignment Type : Mid Term Assignment
Title : Mid Term Assignment of Strategic Management
Word Count : 950 counts
Submission Date : 19th-April-2020
Title : Times New Roman 14 Bold
Body : Times New Roman 12
Justify
Paragraph : Starts one tap
Line spacing : 1.5
Page Number : Right, Bottom
Harvard Referencing Style

2. MID TERM ASSIGNMENT OF STRATEGIC MANAGEMENT
CONTENTS
INTRODUCTION .......................................................................................................................... 1
COMPETITIVE APPROACH........................................................................................................ 1
COMPETENCE APPROACH...................................................................................................... 1
ORGANIZATION’S CORE COMPETENCE............................................................................. 2
STRATEGIC CONTROL, FINANCIAL CONTROL AND STRATEGIC PLANNING ........ 3
I) STRATEGIC PLANNING ......................................................................................................... 3
II) FINANCIAL CONTROL.......................................................................................................... 4
III) STRATEGIC CONTROL ........................................................................................................ 4

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INTRODUCTION
Strategy Approach, Planning and Controlling are main criteria of management strategy and
organizations may use the different methods based on their mission and objectives. Priorities will
be differently approachable of own perspectives.
COMPETITIVE APPROACH
The modernized competitive approach are set and strategic developed with an analysis of
external environment, especially of markets. Why analysis of environment required is the more
organization fit in with its environment, the more business success will ensure. Competitive
approach provides a temporary competitive superiority to the firm and competitive strength in a
particular business or product. That helps the firm to perform better than its rivals at the market
place as well as the firm is able to reap more profits or generate more revenue, when compared to
its competitors. In this approach, the strategic may use PESTEL analysis or Porter’s five forces to
analyses what’s happening in the environment.
Wal-Mart is perhaps one of the most well-known companies that use Cost Leadership as
their business strategy. With efficient distribution methods, huge volume discounts from suppliers,
and their control of manufacturing and inventory, they are able to offer low prices. They have
minimized costs and are able to pass the savings on to customers, resulting in higher number of
customers who spend an average amount of money in their stores. (Source: Internet)
COMPETENCE APPROACH
Where the organization emphasizes its core competences in order to succeed in its chosen
market place, the competence approach are set and strategic developed with an analysis of internal
environment (stakeholders, employee and management, fixed assets, etc.) which includes a unique
combination of various resources, knowledge and skills. It provides a structure to the companies,
which is helpful in ascertaining their major strengths, to strategize accordingly. In this approach,
the strategic may use Medelow’s stakeholder mapping, VRIO framework, SWOT, and Product
Life Cycle theory to look at what the key capabilities to be sustainable business.

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For instance real-life example, the core competencies of Walt Disney Corporation lie in its
ability to animate and design its shows, the art of storytelling that has been perfected by the
company, and the operation of its theme parks that is done in an efficient and productive manner.
Hence, Walt Disney Corporation would be well advised to configure its strategy around these core
competencies and build a business model that complements these competencies. (Source: Internet)
ORGANIZATION’S CORE COMPETENCE
When organization to ensure what is its crown jewels, VRIO framework can be used to
analyze organization’s internal resources and capabilities to find out if they can be a source of
sustained competitive advantage. VRIO (Value, Rarity, Imitability, and Organized) was conceived
by Jay B Barney in 1991.
To identified and leveraged core competencies by VRIO, organization need to define its
own resources both tangible and intangible in nature (example table 1.1). Then, categorized
resources should into 4 groups as competitive parity, temporary competitive advantage, unused
competitive advantage, or long term competitive advantage (table 1.2 example of VRIO analysis)
to understand where competitive advantages lie.
Financial Resources Human Resources Material Resources Non-Material Resources
 Money
 Shares
 Bonds
 Debentures
 People Skills
 People
Knowledge
 Raw Materials
 Facilities
 Machinery
 Equipment
 Patents
 Brand Name
 Intellectual Property
Table 1.1 Categorized Resources

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For example, Google’s People Operations team set out to identify which characteristics
make a great manager. The data used to determine this included surveys, performance evaluations,
and great-manager nominations. Google also conducted double-blind interviews with the
company's highest- and lowest-rated managers. By determining what qualifies as a great manager,
Google strengthens its internal team and the foundation of its sustained competitive advantage.
(Source: Strategic Management Insight)
STRATEGIC CONTROL, FINANCIAL CONTROL AND STRATEGIC PLANNING
The responsibilities for strategic decision making between business units and corporate
centre are divided in the following:
i) Strategic planning refers to the particular style of relationship between the centre and business
units. This is the most centralised form among all 3 styles. The centre is the master planner
recommending detailed roles for departments and business units, whose role is basically limited
to the operational delivery of the plan. The centre orchestrates, coordinates and controls all of
Temporary Competitive Advantage
Competitive Parity
Long-term competitive Advantage
Unused Competitive Advantage
Is it
Valuable?
YES
YES
YES
YES
Is it Rare?
NO
YES
YES
YES
Is it hard to
imitate?
NO
YES
YES
Is the
organized
to?
-
-
NO
YES
Table 1.2 VRIO Analysis

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business unit activities through the extensive use of the formal planning and control system. The
centre also directly manages the infrastructure and provides many corporate services.
ii) Financial control is the most extreme form of decentralization, dissolving the organization into
highly independent business units. In this style, the role of the centre is limited to setting financial
targets, allocating resources, appraising performance and dominant to avoid or correct poor
performance. These involvements would usually be replacing business unit managers rather than
dictating changes in strategies. Therefore, the dominant processes are performance targets and
business unit managers are held strictly responsible for meeting these targets. Current financial
performance is the critical measure of achievement. The financial planning style fits with the
portfolio manager.
iii) Strategic Control refers to the activity of analysis and surveillance of the Strategic Planning.
Its main objective is to monitor and implement corrective measures when facing any kind of
deviation in the original Strategy, after comparing it with the Strategic Standards, and thus granting
the good-riddance of the company´s targets. It works through the establishment of reference points,
rules, methods and devices that allow to measure the development efficiency and effectiveness of
the Strategy in whatever concerns seizing its goals, and also allows a better comprehension of the
periods of crisis.
References:
1. www.https//coursehero.com
2. www.https//researchgate.net/ Strategy and strategic management concepts
3. https://strategicmanagementinsight.com/
4. Strategic Management @ 2011 Neil Ritson & Ventus Publishing ApS, ISBN 978-87-
7681-417-5
5. Strategic Management @ 2004 Colin White, ISBN 1–4039–0400–64
6. Strategic Management: Concepts 3rd Edition, Kindle Edition @ January 15, 2016 Frank
T. Rothaermel, ISBN-13: 978-1259420474