Strategic Management Contents Contents 2 Question #1 – Blue Nile Case 3 Question #2 – Google 4 Question #3 – Norton Lilly International 5 Question #4 – W. L. Gore & Associates 6 Question#5 7 References 8 Question #1 – Blue Nile Case (a) In regards to procuring diamonds from the marketplace, Blue Nile works out as a potential option owing to some salient advantages…
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Fourthly, the company works to enhance the quality of the products through offering different cuttings and also renders potential information to the consumers in regards to different product characteristics. Fifthly, the company conducts effective after sales service and, thus, helps the customer’s to contact through phone and mail. Sixthly, the order delivery time is well scheduled and also calls for refund within a period of one month if not satisfied with the quality of the diamond. (b) The company becomes able to render high quality diamonds and fine jewelry at seemingly competitive prices owing to the advantage of its potential supply chain system, the strategy involved in reducing the cost of operations and the mode of technology used. Inventory holding cost is reduced by the company with also the gaining of orders from the suppliers when the customer finally has made the order. This helps in reducing the ordering cost. Technology used in the diamond company is both traditional and modern, coupled with outsourcing activities conducted. This helps in reducing the cost of operation and, thus, renders low cost diamonds to the customers. (c) The process of educating the consumers on the quality and features of the product helps the company in adequately maintaining effective customer relationship with the people. Thus, through this process the company can work in enhancing the brand awareness in the larger market and in highlighting on the parameters of transparency and trade ethics thereby helping in consumer retention (Thompson and Eastburn, 2010, p.127-130). Question #2 – Google (a) I certainly would have bought the stock of Google for the company reflects an appreciation in its stock level by 18 percent during 2004. The appreciation of its stock level also shows the mass appeal for the initial public offering of the company and gain the different parties to the stock ownership of Google also reflect significant gain in profits. Thus, it would not be a wrong decision in moving over to purchase the stocks of Google. (b) Definitely, Google is one of the important and influential companies of the early twenty first century in that the company is continuously innovating on its search engine features by introducing key elements like online books, maps, social networking features like orkut and other blogging sites. This introduction of new elements, thus, attracts large number of visitors to its site also surpassing You Tube by revenues worth $200 million during 2007. The search engine also renders commercial advantages through its Ad-word initiative, thus, covering every aspect of internet usage in the modern world. Again, Google also tends to enter the mobile technological interface through the use of Android technology helping users to use Google via their handsets. (c) The corporate culture of Google reflects a different culture from the other corporate firms operating in the United States. It is found that the work culture at Google rests on employee empowerment and an adequate teamwork environment where the people are not measured on the basis of their individual actions. People are encouraged to help in boosting the system of innovation in the company and in spending their time on operations rather than involved in long hour meetings. Dependence on the company on their employees’
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This means that strategic management brings together the mission, objectives, and vision of a firm and develops policies and plans then allocates resolves to allocate resources to the set plans and policies in order to ensure their implementation (Wheelen & Hunger, 2011).
Strategic Management Name: Institution: Strategic Management The success of any organization regardless of its affiliation depends on how it conducts its strategic management. This allows an organization to analyze all the key initiatives that the top management of the company undertakes on behalf of its key stakeholders.
The purpose of strategic management is to create new and different opportunities for the organisations to sustain in its usually competitive environment. In brief, the notion of strategic management is fundamentally described as the procedure of devising along with executing effective strategies with the intention of supporting an organisation to attain its expected business targets (Nag et al., 2007).
Crisis management plan must be prepared keeping into consideration the overall safety of the strategic planning process. The aim of the strategic management in such needful situations is to enhance the organizational capacity in responding to the crisis and make strategic plans to effectively overcome from the identified obstacles (European Interagency Security Forum, “Crisis Management of Critical Incidents”).
Main products of the company are printers, personal computers, network management software, high end servers etc. Company is operating its business globally in several areas like printing, computing, digital imaging. Beside this, the company is also providing software and services.
Strategic management in the public sector is a complex process since there are multiple stakeholders with varying needs and limited resources available. There are various approaches to strategic management in the public sector.
In an article published in the Wall Street Journal on 7 May, 2009 and titled Arbitron, Looking To Make Strategic Investments, Takes Page From Cisco, Ty McMahan wrote about the recent decision that had recently been taken
r changing surroundings, managers need to constantly analyse and decide on the actions that would increase the efficiency of a firm’s operations and enable it to survive the competition. This is where strategic management play a vital role in the organisation’s survival. The