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As can be seen in industries which become an icon for nations, there are strong sentiments attached with the commercial aircraft manufacturing industry. This factor is a very dominant contributor to industry dynamics and strategic shape of the industry. The strategic importance of national sentiments attached to some companies is explained by Lou Gerstner in his very famous book ‘Who says elephants can’t dance?’ According to Gerstner one of the major reasons he took up to task of bringing IBM back from brink of bankruptcy was the cultural significance and sentiments attached with IBM of both American businesses and people. The same cultural significance lies with the dominant players of the commercial aircraft manufacturers. This factor is significant for both Boeing and Airbus and holds a very significant importance in determining the analysis provided below.
The best method to understand the dynamics of any industry is through the porter’s five forces analysis. This model gives a comprehensive analysis of the different forces functioning in the industry and determines industry’s strategic positioning. This model is also very useful in providing a comprehensive analysis of the individual analysis and more importantly contribution to determining the overall positioning of the industry. The model is used for this example is as follow:
The most important factor for any industry is the bargaining power of customers. This is a very economics driven phenomenon. This is because the customers function as a whole on factors of demand and supply. The demand factors for an industry determine the power of firms operating in the industry. The substitutability of a product is the key to bargaining power of customers. This can be analyzed by using exampling of medicines and burgers. The customer when buying medicines will have a very small power because this product has a low elasticity of demand. However,
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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