Strategic Management Essay -- Business Analysis Management

Every self-colored competing in an industry has a competitive strategy. Strategy is the direction and desktop of an administration over the retentive- stipulation which achieves advantage for the organization through its social organization of resources inside a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations. In former(a) words, strategy is about the direction in which the business is exhausting to exit in the long term. A strategy should help in habit the dominance markets in which the business competes and its corresponding activities. It should help in analyzing the resources infallible to compete, example skills, assets, finance, technical know-how etc. Strategies should help in Analyzing the international environmental factors that affects the ability of the business to compete. Finally it should help in analyzing the determine and expectations of the stakeholders who hold the power in and out of the business. The organizations strategy essential be hypothecate in such a way that it has a bizarre specialness which is clearly specified. This distinctiveness must place the organization in the potential market with a strong base . The strategy substantial lead be no-hit when it fits into the companys activities and they should balance each other and they should sum the compensate benefits to the firm and its customers. The ultimate concept is to position the firm in a way that will ensure its survival in the long term among the competitive environment. The various elements of strategies ar strategical planning, strategic thought process and strategic management. strategical planning is a management tool. It serves one of the principal(prenominal) purpose as a management tool i.e., to help an organiz... ...al and the participating approaches are equally important. The organizations will prove to be more successful when they put th rough both these strategic approaches. The organization should know where it is heading to and must in any case be quick enough to grab the new opportunities and accept changes in the competitive market to gain a competitive advantage. BIBLIOGRAPHY strategical direction - An Integrated Approach Charles W. L. Hill / Gareth R. Jones (Third and Sixth Edition )strategic anxiety - Issues and Cases Paul Dobson, Kenneth Starkey and John Richards Competitive Strategy - Techniques for analyzing industries and competitorsMichael E . hall porter WEBSITES 1. www.findarticles.com2. www.pim.com3. www.tutor2u.net4. www.whatcar.com5. www.strategyclub.com Strategic Management Essay -- Business Analysis Management Every firm competing in an industry has a competitive strategy. Strategy is the direction and scope of an organization over the long-term which achieves advantage for the organization through its structure of resourc es within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations. In other words, strategy is about the direction in which the business is trying to move in the long term. A strategy should help in finding the potential markets in which the business competes and its corresponding activities. It should help in analyzing the resources needed to compete, example skills, assets, finance, technical know-how etc. Strategies should help in Analyzing the external environmental factors that affects the ability of the business to compete. Finally it should help in analyzing the values and expectations of the stakeholders who have the power in and out of the business. The organizations strategy must be formulated in such a way that it has a unique distinctiveness which is clearly specified. This distinctiveness must place the organization in the potential market with a strong base . The strategy developed will be successful when it fits into the companys activities and they should balance each other and they should supply the right benefits to the firm and its customers. The ultimate concept is to position the firm in a way that will ensure its survival in the long term among the competitive environment. The various elements of strategies are strategic planning, strategic thinking and strategic management. Strategic planning is a management tool. It serves one of the main purpose as a management tool i.e., to help an organiz... ...al and the dynamic approaches are equally important. The organizations will prove to be more successful when they apply both these strategic approaches. The organization should know where it is heading to and must also be quick enough to grab the new opportunities and welcoming changes in the competitive market to gain a competitive advantage. BIBLIOGRAPHY Strategic Management - An Integrated Approach Charles W. L. Hill / Gareth R. Jo nes (Third and Sixth Edition )Strategic Management - Issues and Cases Paul Dobson, Kenneth Starkey and John Richards Competitive Strategy - Techniques for analyzing industries and competitorsMichael E . Porter WEBSITES 1. www.findarticles.com2. www.pim.com3. www.tutor2u.net4. www.whatcar.com5. www.strategyclub.com