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l segment along with other major players that include but is not limited to Mercedes Benz, General Motors, Toyota, Honda and Volkswagen (Sturgeon, Biesebroeck and Gereffi, 2008).
Bayerische Motoren Werke AG (BMW) is based in Munich and started out as a aero-engine manufacturing company in 1917. Subsequently it transferred its attention to the business activity of manufacturing motorcycles and then into passenger cars. In 1936 BMW brought out its first sports care model and by the middle of the twentieth century established itself in the automobile industry as a manufacturer of elegant, prestigious and superior performance automobiles. In the new millennium, through its restructuring activities BMW has attempted to secure and strengthen its position in the premium segment of automobiles, through its prestigious BMW, Mini and Rolls-Royce brands (ICMR, 2002).
In 2009 the number of BMW, MINI and Rolls-Royce cars that were sold totaled 1,286,610 units. This figure represents a slide of 10.4% in the number of cars in all its brands sold by BMW in 2008. A similar slide is also seen in the sales revenue for the two years. In 2009 the total sales volume was euro 47,737 million, which is 10.3% less than the total sales volume of BMW in 2008. The company has attributed the under performance in 2009 to the continuing poor state of the economies in its main markets in the developed world and the economic stimulus attempted in the developed world not really making the desired impact (BMW, 2010).
Thierauf 2001, p.206 defines critical success factors (CSF) for any business enterprise as “the limited number of areas in which results, if they are satisfactory, will ensure successful competitive performance”. The wider picture on CSF and the key activities connected to it, besides favorable results in these areas for the achievement of strategic objectives, also means that it indicates where things need to proceed on the right path for the growth of the business enterprise and
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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