StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Business Strategic Management - Essay Example

Comments (0) Cite this document
Summary
Business strategic management Table of contents Importance of achieving strategic fit 3 Porter’s five forces framework as a tool of competitor analysis 5 Rationale behind revolutionary and evolutionary approach to change 10 Strategic drift 12 Ways to avoid strategic drift 13 Role of administrative management in implementing strategic change in organisation 14 References 17 Importance of achieving strategic fit When an organization has diversified portfolio in its business, the management of such organization forms strategic business unit…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
Business Strategic Management
Read TextPreview

Extract of sample "Business Strategic Management"

Download file to see previous pages Strategic fit characterizes the degree of matching the capabilities and resources of an organization to the opportunities prevailing in the external environment. The matching takes place through strategy so the company is required to have its actual capabilities and resources for supporting and executing the strategy Strategic fit can be actively used for evaluating the current strategic situation of a company along with the opportunities of divestitures and mergers and acquisitions of divisions of organization. Strategic fit is also viewed on the basis of resources of the firm suggesting that industry selection and positioning is not only the key to profitability rather an internal focus utilising the unique characteristics of the resource portfolio of the company and its capabilities is the key to profitability. ...
Operational fit arises when different businesses work along for exploring opportunities of skill transfer and cost sharing. Management fit revolves among both the businesses in terms of some comparable units like operating problems, administration and various administrative activities. It also allows accumulated managerial know how in one business to be used in managing other business. It is necessary that the management of business should take actions to capture benefit (Armstrong, 2003, pp.116-117). Benefits with sharing potential must be recognized so that the activities to be shared are coordinated and merged. When skill transfer takes place, a means must be found to make it effective. It is required for the medium sized business to achieve strategic fit as it provides consistency between customer priorities of competitive strategy and capabilities of supply chain as specified by the strategy of supply chain (Dessler, 2010, p.51). The strategies of supply chain and competitive strategy have the same goal. Due to lack of strategic fit, a company may fail. Achievement of strategic fit involves three steps. These involves the understanding the uncertainty in supply chain and customer, understanding the capabilities of supply chain and achieving strategic fit (Armstrong, 2008, p.38). Strategic fit has a central role for playing in strategic management. While the external strategic fit is relevant to formulate strategy, the internal strategic fit is critical to the implementation of strategy (Gabriel, 2008, p.133). A high strategic fit is important as it enables the scope of learning new skill sets, timely and appropriate response, resource commitment from top management, better ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Business Strategic Management Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Retrieved from https://studentshare.org/business/1404345-strategic-management
(Business Strategic Management Essay Example | Topics and Well Written Essays - 2750 Words)
https://studentshare.org/business/1404345-strategic-management.
“Business Strategic Management Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/business/1404345-strategic-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business Strategic Management

Internal and External Environmental Analysis for the Bakery Business

Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country.

Threat: The UK food regulatory authority is planning to enforce the EC Regulations relating to food labeling. The labeling requirements under the new regulations will affect the food industry as the suppliers will be legally obliged to disclose the GM content of foods to the caterers. Thus business firms in the bakery industry also will be effected through the exclusion of flexible manner of labeling arrangements in the case of flour confectionery involving GM Soya or maize. (Genetically modified and novel foods (labeling) (England) regulations, 2000).

Trend: The new subs...
6 Pages(1500 words)Case Study

Evandale's Business Plan

Evandale’s mission would have a strong impact on the company’s later brand development.
When a company determines its mission and its vision, it needed to determine its objectives to accomplish that vision. I did not see the objectives—where the company was heading through in the presentation. A clear objective would have enabled me, as an audience to also picture where the company would want to go and would serve as the benchmark for me to assess the later strategic choices the company would state in the presentation.
According to the slides, the potential demand for caviar and the sturgeon products are “100x” bigger than the current supply. I would have wanted to see a reliable source for...
7 Pages(1750 words)Case Study

Customer Relationship Management

 Consumers started looking for variety and lower prices. Through the use of technology, such customer tradeoff against variety and prices is not necessary. The US life insurance industry is large, mature and dominated by a number of large companies and this industry has been one of the early adopters of computer technology (Subramanian & Chatterjee, 2007). The advent of the CRM systems changed the landscape of the insurance industry.

The health insurance organizations use CRM to prepare health proposals and process applications in a much faster and accurate way. The organizations are better able to understand the needs and habits of the customer and provide more efficient service. Companies are able to integrat...
9 Pages(2250 words)Case Study

Active Directory - Security, User, and Resource Management

Administrators make use of group policies to launch principles for desktop predilections and software. For many corporate information technology groups, concurrence with group policies to identify what software should be presented to each category of user, even without human intervention installing it on demand from a corporate server (Silberschatz, Galvin, & Gagine 2002. P. 838). The capability of the AD was introduced in the year 1999, its initial release was with the MS Windows 2000 Server Ed., additionally personalized to spread out functionality, security parameters and build up administration in MS Win Server 2003. The most recent better facilities and efficient edition of the AD are introduced in the Windows Server 2008...
6 Pages(1500 words)Report

The Management, Leadership and Teamwork Competencies Required by a Small Business Owner

On the other hand organizational leadership is defined as the ability based on the specific skill of an individual to lead his/her subordinates in a manner that pre-planned organizational goals could be achieved within the defined time-frame.

According to Burns (1978) and Bass (1985), transformational leadership has a set of category constructs such as values, morals, farsightedness, long term goals, principles, acute awareness about the dividing line between causes and symptoms, mission statements, strategic perspectives, and human resources. Similarly, they identify a set of category constructs in the transactional leadership also. For instance concentration on the task at hand, short term goals and tactics, confusion co...
6 Pages(1500 words)Coursework

Strategic Pay and Organizational Behavior

Both, Performance-related pay (PRP), as well as  Payment by Results (PBR), are based on the notion that if a worker can vary output by increasing his efforts, the hope of increased pay will lead him to perform his best. Both methods can be applied to an individual as well as a group level. Below is a critical comparison of the two:
Defined in simplest of terms, payment by results can be defined as the scheme of paying incentives in which, the bonus or the variable portion of the payment will be dependent on measurable values of outputs, within studied time limits.

Advantages: The primary advantage of this scheme is the inducement and motivation of workers for higher efficiency and great output. It is better th...
6 Pages(1500 words)Assignment

Business Etquette for Business Communications Course

Who wants to give a guess? How about you (pointing at someone in the audience), yes, what is your name? Adam? What do you think, Adam – Money, Machines, Management, and Manpower? Why do you think so? And how about you, ma’am (someone else in the audience) – do you agree with him?

I think we are all in agreement: you could have Money, Machines and Management, but without Manpower, you cannot have a business. And unless you have good Manpower working well together, you cannot have a successful business.

Do people work well together naturally? Those of you who are familiar with office politics will say, “Of course not!” You are right: left to themselves, few people work well toget...
7 Pages(1750 words)Speech or Presentation

Information Security Management

Security is a group of activities that include the policies, measures, and actions which are utilized to stop unlawful access or alteration, theft, and physical damage to information or computer. Security can be supported by an assortment of techniques and tools to safeguard computer hardware, software communications networks, and data (Laudon & Laudon, 1999, p. 502). In the modern age of information technology, there are many threats happened for organizational information. We need a security model that has the ability to manage and secure our information reserves. Technical administrative safety /security measures like security plans, actions and techniques are the main practices for the organizational information security m...
10 Pages(2500 words)Research Paper

Which of the Business Objectives Might Best Be Applied to the Southampton Solent University

In other words, there is no explicit reference to the achievement of long term objectives and the people being involved in the business with the express intention of making profits.

In this context, the Southampton Solent University’s existence as a business organization in the strategic business sense would be defined as a clear attempt at continuously engaging in the present and future activities with a view to achieving its long term objectives of which the satisfaction of stakeholders, particularly shareholders, is of paramount importance. Its mission statement is “The pursuit of inclusive and flexible forms of Higher Education which meet the needs of employers and prepare students to succeed in a fast-...
8 Pages(2000 words)Coursework

Business Communication for Degree Access: Olympic Volunteering Consultancy

The London Organising Committee for 2012 is headed by Lord Coe but we would need to contact the Minister for the Olympics who is Tessa Jowell to place the Bid. The Olympic Games are said to need 70,000 employees with large land development in London.

To beat out the competitors with an excellent business strategy (Wikipedia) an excellent marketing strategy must be used! 26,400 pounds, of the 1 million pounds on Flyers and radio ads this company can inform the residents of Greenwich of the career training opportunity. Using Radio ads that are up to date we can gain a young volunteer base. Flyers handed out to community centers and welfare offices this company will gain other targeted volunteers.

The Census Bur...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Business Strategic Management for FREE!

Contact Us