Free

Strategic Management - Essay Example

Comments (0) Cite this document
Summary
Strategic control has more to do with the vision of the company and the direction it takes based on the strategies, plans and opportunities available…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.7% of users find it useful
Strategic Management
Read TextPreview

Extract of sample "Strategic Management"

Strategic Management Question Strategic control and operational control are quite different from each other since they both have different realms of operation. Strategic control has more to do with the vision of the company and the direction it takes based on the strategies, plans and opportunities available to it (Welch, 2005). For example, the strategy of a company may be a broad vision such as moving the companys products into a new market and the element of strategic control would be selecting the market, understanding the best methodology for entering the new market and then strategically marking and exploiting the opportunities presented in the market. Operational control is guided by the strategy used by the company and in the example given above, the operations of the company would need to setup the right kind of offices, get the required HR for the various functions of the business in the new market and then manage the day to day running of the business. In essence, while strategy is set to guide the company, operations are set to manage and run a business.
Question 2
While it may be possible and even politically correct to say that a company could work with the idea of bringing continual improvements to itself and thus remove any requirements for operational controls, the reality of the situation may be quite different. Operational controls are required to give the company some guidance in terms of how things are supposed to be done and how they are to be optimized (Welch, 2005).
Simply searching for continual improvements may lead the company to be guided in several different directions in terms of operations as each department or even each individual may seek to bring improvements that may only apply to them on a personal basis. Similarly, it would be difficult to say that strategic controls could replace operational controls and the simple reason for that is they both have different realms of operation.
Question 3
Quality may have different implications for different customers since it is essentially an ethereal concept where the measure of quality for one customer may not be the same for another. For example, in the automobile industry, there are certain brands which are known for their quality and their repute as luxury brands. On the other hand, there are companies which work across the spectrum in the automobile market and produce economy as well as luxury cars. However, the perceived quality of the brand which is a luxury brand would likely to be higher than one which is a value brand. At the same time, there are customers who would consider quality to be a function of the price they pay for the product in which case a lower price would be far more important than a product which simply focuses on quality. Simply put, quality is what the brand image makes out the product to be as well as what the consumers see it to be.
Works Cited
Welch, J. 2005. Winning. Harper-Collins Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Management Essay Example | Topics and Well Written Essays - 500 words - 4”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1550895-strategic-management
(Strategic Management Essay Example | Topics and Well Written Essays - 500 Words - 4)
https://studentshare.org/miscellaneous/1550895-strategic-management.
“Strategic Management Essay Example | Topics and Well Written Essays - 500 Words - 4”, n.d. https://studentshare.org/miscellaneous/1550895-strategic-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Strategic Management

Strategic management

...? Strategic Management College: Question one a) Yes, cooperation in a finitely repeated game can be sustained in a sub-game perfect Nash equilibrium, for instance, if the stage game has many Nash equilibria, if uncertainty about players’ preference exists, or if the number of times to be played is not common knowledge (Norman, 2011). In addition, when players have other regarding preferences, cooperation can be sustained. b) No, every Nash equilibrium is not sub-game perfect in an extensive form game, but the other way round. Nash equilibrium is a sub-game perfect if its restriction to every sub-game is Nash equilibrium of the sub-game. This is because every finite extensive form game contains at least a...
6 Pages(1500 words)Essay

Strategic management

...?Strategic Management Table of Contents Table of Contents 2 Introduction 3 Overview of British Airways and Its Success Story 3 Analysis of British Airways 4 PESTLE Analysis 5 Porter’s Five Forces Model 7 Value Chain 9 Evaluation of Business Strategy 12 Porter’s Generic strategies 12 Recommendations 13 Conclusion 14 References 15 Bibliography 17 Appendices 18 Introduction Overview of British Airways and Its Success Story British Airways is one of the leading British airline companies, which was established in the year 1971. British Airways is a full service international airline of the United Kingdom. The head office of British Airways is located in Waterside of Harmondsworth of England. British Airways...
14 Pages(3500 words)Essay

Strategic Management

...Strategic Management PART A The ment is quite true and encompasses most of the activities of corporate governance. Corporate governance is indeed an internal system of rules and regulations meant to fulfill the needs of the shareholders and the stakeholders. However, corporate governance is also depended greatly on the external environment in order for the development of the rules that are made in view of the existing rules and the strategic position of the company. The given statement does not take into account the fact that the strategy of the organization impacts the development of corporate governance. The existing laws and regulations have to be followed by the organization and the...
3 Pages(750 words)Assignment

Strategic Management

... Strategic Management Question 1(i) Structural characteristics of the TV manufacturing industry from the point of view of the Five Competitive Forces (Porter) framework Threat of New Entrants Low Rivalry Moderate Bargaining Power of Suppliers Moderate Bargaining Power of Buyers Moderate Threat of Substitutes High Source: (Marconi, 2010). Question 1(ii) Sony Strategy Using the Resource-Based View of the Firm Framework The resource-based view is quite significant in comprehending how to make use of the capabilities of the firm so that it can accomplish sustainable competitive benefit. It comprises tangible resources, intangible resources as well as human resources. The strategies implemented by Sony will...
6 Pages(1500 words)Case Study

Strategic Management

...? The aspect to establish competitive management is placed in the desire to articulate new measures to be appliedin the advertising venture. Products presets variable challenges and behavioural traits within the market, and their impact on consumers depend on the nature of the establishment. The strategy applied in presenting the product to the market affects the results gained within the established platform and the need to apply marketing ventures to retain a consumer trend. With the theories of marketing strategies implemented within the environment, there may be measures presented to determine the progress of the company. Basing the argument of first mover and late mover’s theories, this paper issues the careful presentation... on the...
5 Pages(1250 words)Essay

STRATEGIC MANAGEMENT

.... Managing E-commerce in Business. Juta and Company Ltd. Botten, N. 2009. Enterprise Strategy: Strategic Level. Elsevier. Dave, C. 2008. E-Business and E-Commerce Management. Pearson Education. Epstein, M.J. 2004. Implementing Ecommerce Strategies. Greenwood Publishing Group. Goi, C.L. 2005. Marketing Mix: A Review of ‘P’ [online]. Available at http://www.arraydev.com/commerce/JIBC/2005-08/goi.htm [Accessed on: 31 July 2012]. Heinemann, G. and Schwarzl, C. 2010. New Online Retailing: Innovation and Transformation. Springer. Hills, C. and Jones, G. 2009. Strategic Management Theory: An Integrated Approach. Cengage Learning. Hoffman, D.L. and Novak, T. “How...
24 Pages(6000 words)Essay

STRATEGIC MANAGEMENT

...?Strategic Management Executive Summary The study is related to the McDonald’s business operations and strategies that have been implemented during the development phase of McDonald’s. The focus has been upon the period when Jim Cantalupo was the CEO of McDonald’s. The strategy applied by him in developing the business of McDonald’s are discussed. In the subsequent section, the newly implemented strategies of McDonald’s (after Jim Cantalupo’s death) have been discussed by using McKinsey’s 7S framework. Ansoff Growth Matrix has been used to recommend and critically analyse various strategic approaches that could have been implemented by leaders of McDonald’s after 2004. Table of Contents...
8 Pages(2000 words)Essay

Strategic Management

...?Strategic Management Table of Contents Introduction 3 Broadcasting Business of TNC 4 Question 6 Generic Strategy of News Corporation 6 Other Strategies Applied by News Corporation: Diversification through Acquisition 8 Question 2 9 Reasons behind Diversification Strategy 9 Advantages of Diversification 10 Disadvantages of Diversification 10 Conclusion 11 References 12 Introduction News Corporation is an international media company. They operate in several business areas such as television, cable network, direct broadcast satellite, magazines, newspapers, book publishing and films. The company operates over 25 TV stations. It is one of the leading publishers of English newspaper in the world. Few major...
7 Pages(1750 words)Assignment

Strategic Management

...?Strategic Management “Argos” analysis” A brief of the organization Argos, one of the largest general merchandise retailers of the UnitedKingdom was founded in 1973 (Argos Website, n.d.). Today, this company is a multi-channel retailing organization, selling general merchandise and products for the home from over 700 stores throughout the United Kingdom and Republic of Ireland, online and over the telephone (Argos website, n.d.). Being a part of the Home Retail Group, the market leader in the home and general merchandise market, Argos serves over 130 million customers a year through its stores and takes 26% of sales through the internet channel alone (Argos website, n.d.). Large customer bases across the...
12 Pages(3000 words)Assignment

Strategic management

...through limited capacity in the emergency room as well as the lack of adapting new technologies have made it relatively difficult for the hospital to keep pace with the larger hospitals. Recruiting and retaining skilled physicians as well as nursing staff at relatively affordable cost was another operational issue faced by hospital. Due to the structural changes in the healthcare industry overall availability of the physicians declined due to reduction in their wages. It is also important to note that the increasing influence of the managed care organizations is also sited as one of the operational issues faced by EMC. The overall influence of the managed care therefore is forcing the hospitals to offer...
3 Pages(750 words)Article
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 Strategic Management for FREE!

Contact Us