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Companies that decide to go global are faced with a myriad of decisions to make and implement to ensure that they remain as relevant as they have been in their local market. Informed decision making is motivated by the fact that competition on the global business environment…
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Assignment 1: Strategic Management and Strategic Competitiveness
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Download file to see previous pages Strategic management, as it applies in most global companies refers to the elaborate collection of continuous activities and processes that organizations rely on to systematically co-ordinate and align resources and actions to their particular mission and vision statements. In this regard, strategic management is known to change the static plan into a system that gives rise to strategic performance feedback to decision-making organs and processes thus enabling the plan to evolve and grow while requirements and other circumstances change.
The process of strategic management provides overall directions to the enterprise; it involves specifying the organization’s objectives, thereafter establishing policies and plans geared towards achieving the objectives and the allocating resources to implement them effectively (Mulcaster 2009).
In the wake of the importance of strategic management, academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.
Most of the companies operating globally have found imminent success through adoption of strategic management approaches, these companies are strategically competitive, commanding a great market care across international markets, a good example of such company is Coca-Cola.
Coca-Cola is an American multinational company that manufactures and sells beverage drinks, it is famous for its renowned for its flagship product Coca-cola, which almost everyone can identify with globally. The company has its headquarters in Atlanta Georgia and operates a franchised system of product distribution, which dates back to 1889, in this system; the company only produces syrup concentrate that is then sold to various distributors that are strategically located across the world.
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