The Strategic Management Process: Theories, Concepts, Tools and Application
Topic:The Strategic Management Process: Theories, Concepts, Tools and Application
Successful general managers are highly competent in problem identification and analysis and have a strong action orientation. One purpose of this unit is to provide an environment that will allow students to hone these skills, while at the same time gain a conceptual understanding of the strategic manager’s task. This assignment has two tasks that require you to demonstrate your knowledge and skills in strategic management.
First, you are required to develop a one page (A4) detailed schematic table or diagram that presents a comprehensive overview of the core theories, concepts and tools used by strategic managers who need to have an in-depth understanding of generic problems in all relevant functional areas of a firm or organisation. These theories, concepts and tools are covered in the power points I upload.
A schematic table is a presentation of the elements of a system or process, in this case the strategic management process. It should be visually powerful, appealing, informative, and presented in a logical order to reflect the overall integrity of the strategic management system or process. You can choose a small font, coloured boxes and different shapes. Acronyms may be used as headings, but each word within the acronym must be shown. At a minimum, your schema should include, but is not limited to:
· External environmental analysis (SMFA & PESTLE)
· Industry analysis (Porter’s 5 forces of competition)
· Resource model (TO + WS)
· Mission, vision, values
· Value chain analysis
· 5 generic business level strategies
· Managing relationships with customers
· Corporate strategy (vertical and horizontal integration, diversification, portfolio analysis)
· Co-operative, Competitive, International & M&A strategies.
· Diamond of national advantage
· Corporate governance
· Structure and controls.
Second, you are required to select three of the above concepts and discuss how a company or organisation of your choosing (other than Temple & Webster) has utilised them to create value. You are limited to 250 words per concept(750 in total) , at least one reference for each.
An example of a partial schema (without content) is given as a guide only.