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

Strategic Management - business environment - success - Case Study Example

Cite this document
Summary
Strategic management has become indispensable to the success of a business organisation. It should be noted that as the global arena evolves into a hypercompetitive business environment characterised by more intense rivalry among players and higher bargaining leverage from the customers, companies are continuously pressured to efficiently utilise strategic management techniques in their daily operations…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.3% of users find it useful
Strategic Management - business environment - success
Read Text Preview

Extract of sample "Strategic Management - business environment - success"

Download file to see previous pages

The second section will take a look at the internal and external situation of the company through the employment of a SWOT analysis. The strategies employed by a business organisation are strongly influenced by its leaders. The strategic direction and path taken by the company is always dependent on the leadership style, personality, and experience of its decision makers. This fact is highly exemplified in the operation of Stakis Plc. Since its inception to its course of operation, the company has been run by four distinct leaders which pursued different strategies in order to take the company forward.

These leaders are Reo Stakis, Andors Stakis, Sir Lewis Robertson and David Michels. Roe Stakis laid the foundation of Stakis Plc by the opening of a restaurant in Glasgow in 1947. This move during a period of "severe and continuing austerity" in an "industrial city which carried over an unattractive image from the interwar period" seems to be irrational at the moment. However, it showed the leader's Reo Stakis' optimism and the determination to offer his products in spite of the external challenges and difficulties.

Reo's distinct optimism and determination fuel the growth of the company and its venture to other types of businesses. It can be seen that during his reign as the chairman of the Stakis Plc, the company has gone beyond the restaurant business into other sectors such as hotels, casinos, property and finance. The growth strategy employed by Reo can be further anlysed through the use of the Ansoff Matrix. The Ansoff's Matrix is a tool in strategic management which is utilised in order to aid in deciding the product and market growth strategy of a company.

According to this tool, the strategies employed by a business organisation can be categorised according to the products offered and markets targeted. Strategies are classified as market penetration, market development, product development and diversification (Thomson and Strickland 2002). Analysing the growth strategy employed by Reo Stakis in the light of the Ansoff Matrix, it can be noted that the founder has ventured both into product development and diversification strategies. Unsatisfied as a restaurateur, he also offered lodging and recreation services to his tourists and business clients by opening hotels and casinos.

This move can be described as a product development and related diversification strategy. By venturing into the leisure and hotel industries, the company is offers new products to its current market and also hopes to attract new ones. This is also evidenced by the company's rapid expansion into new geographical regions in the United Kingdom. The decision of Stakis Plc to venture into the property and financial sector is an unrelated diversification strategy. With this decision, the company moves beyond its previous business scope.

It is also notable that the company's expansion strategy is often furthered through the acquisition of other firms. With the leadership Reo, Stakis Plc has acquired D&A Haddow and St. Ermin's Hotel. When deciding to operate in an unrelated industry, the company does not establish its own brand but seems to be more

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Management - business environment - success Case Study”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1532101-strategic-management-business-environment-success
(Strategic Management - Business Environment - Success Case Study)
https://studentshare.org/miscellaneous/1532101-strategic-management-business-environment-success.
“Strategic Management - Business Environment - Success Case Study”, n.d. https://studentshare.org/miscellaneous/1532101-strategic-management-business-environment-success.
  • Cited: 0 times

CHECK THESE SAMPLES OF Strategic Management - business environment - success

Concepts in Strategic Management and Business Policy

strategic management Name Institution strategic management The field of strategic management is broad and ideally deals with a number of emergent and intended initiatives that a general manager seeks to undertake on behalf of the organization's owner.... hellip; 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)....
3 Pages (750 words) Essay

Successful Adoption of Strategic Management Principle

hellip; strategic management denotes the process of organizational planning at the optimal level.... Strategic analysis is the most important and first component of the strategic management process.... strategic management contributes largely to the long-term success of an organization.... After the completion of the strategic analysis, formulation of strategy follows.... After the completion of the strategic analysis, formulation of strategy follows....
13 Pages (3250 words) Research Paper

Strategic Fit between HR Strategy and Business

The strategy elaborates how well an organization can meet the merger criteria without compromising on performance success.... The strategy generally outlines a clear perspective on what particular activities organizations should engage in with relation to its situations and visions to achieve increased profitability and success (Tan, 2002, p.... More so, the process seeks to establish best practices that would enable growth, improvement, and attainment of better profitability prospects, alongside possible performance success obstacle identification and elimination....
5 Pages (1250 words) Essay

To Compete or Cooperate in Business

So, in this globally competitive environment, is competition or collaboration the key to success ... It's mutual success rather than mutual destruction.... In these alliances, the key factor for success is that each organization has their own unique core strengths that taken together result in increased mutual and individual benefits.... It is a means to the end, to enable a business to maximize commercial success and mitigate risk....
9 Pages (2250 words) Essay

Strategic Management business organization

strategic management is nonetheless one of the most crucial areas for business entities.... Stated simply, strategic management is the process of clearly defining a business organisation's goals and objectives while assessing its resources and strengths in order to formulate and execute strategies.... hellip; strategic management also involves evaluating the progress of strategy execution as well as making the necessary adjustments (Thomson 2002). ...
5 Pages (1250 words) Essay

Strategic Planning in Uncertain and Dynamic Environments

nbsp;  This process is called strategic planning and has been proved to result in different outcomes for different organizations, depending on the nature of the organization and the environment in which the organization operates.... This paper evaluates the argument that formal strategic planning is no longer an appropriate organizational process for firms that make strategic decisions in highly uncertain and dynamic environments.... nbsp;strategic planning is a systematic and documented process that is adapted for making decisions on what key decisions an organization must get right in order to ensure that the organization thrives in the future....
8 Pages (2000 words) Research Paper

Strategic Management and the Business Environment

This essay "Strategic Management and the business environment" emphasizes the importance of a SWOT analysis by describing the concepts of the strategy process, market conditions, and product positioning.... nbsp; Strategic analyses do enable managers to understand changes in the environment and to plan responses since its the function of the managers to respond logically to changes.... Changes in the environment are external to the organization and therefore external to the managers....
17 Pages (4250 words) Essay

Strategic Management in Organisations at a Time of Economic Turbulence

As had been previously observed, the prescriptive approach lacks flexibility and hence rigid planning within a dynamic business environment that is additionally characterized by economic turbulence may prove to be unproductive.... This report “strategic management in Organisations at a Time of Economic Turbulence” will take into account the tenets of strategic management and will thereby endeavor to explore and analyze the prescriptive and emergent approaches in order to develop effective strategic management in organizations....
11 Pages (2750 words) Dissertation
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.
Contact Us