Strategic Management Assignment Help

Strategic management is a process that is concerned with the formulation and implementation of plans that will enable an organization to achieve its long-term objectives. The process of strategic management is usually divided into five steps, which are as follows:

1. Environmental scanning
2. Strategy formulation
3. Strategy implementation
4. Evaluation and control
5. Revision

The first step in the process of strategic management is environmental scanning. This involves the collection and analysis of information about the internal and external environments of an organization. The internal environment of an organization includes factors such as its resources, capabilities, and strengths, while the external environment includes factors such as the economic environment, the competitive environment, and the social environment.

The second step in the process of strategic management is strategy formulation. This involves the development of plans that will enable an organization to achieve its objectives. The strategy formulation process usually begins with the identification of the organization's objectives and the analysis of the internal and external environments in which it operates. The next step is the development of strategies that will enable the organization to achieve its objectives. The strategies that are developed during this step usually fall into one of four categories, which are known as the four Ps:

1. Product strategy - This involves the development of plans that will enable the organization to differentiate its products from those of its competitors.
2. Place strategy - This involves the development of plans that will enable the organization to sell its products in the most profitable markets.
3. Price strategy - This involves the development of plans that will enable the organization to set prices that will maximize its profits.
4. Promotion strategy - This involves the development of plans that will enable the organization to effectively promote its products to its target market.

The third step in the process of strategic management is strategy implementation. This involves the implementation of the plans that were developed during the strategy formulation stage. The implementation of these plans usually requires the coordination of the resources and activities of the organization's various departments.

The fourth step in the process of strategic management is evaluation and control. This involves the assessment of the effectiveness of the organization's strategies and the implementation of changes if necessary. The evaluation and control stage usually involves the use of a variety of metrics, which can include financial metrics, customer metrics, and employee metrics.

The fifth step in the process of strategic management is revision. This involves the periodic review of the organization's objectives, strategies, and plans in order to ensure that they are still relevant and effective.

Different Types of Assignments That are Provided to Our Strategic Management Experts

SWOT Analysis:

A SWOT analysis is a comprehensive assessment of a company's strengths, weaknesses, opportunities, and threats. Our experts can help you create a detailed SWOT analysis that outlines your company's strengths and weaknesses, as well as the opportunities and threats that it faces.

Business Plan:

A business plan is a comprehensive document that outlines your company's goals, strategies, and tactics. Our experts can help you create a business plan that is tailored to your specific business.

Market Research:

Market research is a vital tool for any business. Our experts can help you conduct market research to determine your target market, understand your competition, and identify new opportunities.

Competitive Analysis:

A competitive analysis is a detailed evaluation of your company's competitors. Our experts can help you compile a competitive analysis that includes information on your competitors' strengths and weaknesses, as well as their market position and strategies.

Product Launch Plan:

A product launch plan is a detailed guide for launching a new product. Our experts can help you create a product launch plan that includes a marketing strategy, production plan, and timeline.

Sales and Marketing Plan:

A sales and marketing plan is a roadmap for boosting your company's sales and marketing efforts. Our experts can help you create a sales and marketing plan that includes strategies for increasing sales, attracting new customers, and building brand awareness.

Mistakes to be Avoided While Doing Strategic Management Assignments

There are several mistakes that can be made while completing strategic management assignments. The following is a list of some of the most common mistakes:

Underestimating the importance of the assignment

One of the most common mistakes made when completing a strategic management assignment is underestimating the importance of the task. This can lead to a rushed and sloppy final product.

Focusing on the wrong issues

Another common mistake is focusing on the wrong issues when completing a strategic management assignment. This can lead to poor analysis of the situation and a flawed final product.

Lack of organization

A third common mistake is lack of organization when completing a strategic management assignment. This can lead to a messy and disorganized final product.

Poor research. A fourth common mistake is a poor research when completing a strategic management assignment. This can lead to inaccurate conclusions and a sub-par final product.

Poor writing skills. A fifth common mistake is poor writing skills when completing a strategic management assignment. This can lead to a sloppy and unreadable final product.

Strategic Management Assignment Sample by Assignment Hippo

A Sample Assignment on Strategic Management

Table of Contents

Executive Summary……………………………………………………………………………………………………………………………………………………3

Organizational Background…………………………………………………………………………………………………………………………............4

Environmental Scanning…………………………………………………………………………………………………………………………................5

Strategic Planning…………………………………………………………………………………………………………………………........................7

Strategy Implementation……………………………………………………………………………………………………………………..................10

Evaluation and Control…………………………………………………………………………………………………………………….....................13

Endnotes………………………………………………………………………………………………………………………………………………………..........15

Executive Summary

In this assignment, we will be examining the process of strategic management, with a focus on the steps involved in strategic planning. We will begin by discussing the importance of environmental scanning and the various methods that can be used to conduct an effective scan. We will then move on to discuss the steps involved in strategic planning, including the development of business objectives and the formulation of strategic options. Next, we will explore the process of strategy implementation, including the selection of appropriate tactics and the allocation of resources. Finally, we will examine the process of evaluation and control, and we will discuss the factors that need to be considered when assessing the performance of a strategic plan.

Organizational Background

In order to understand the process of strategic management, it is first necessary to understand the organizational context in which this process takes place. A strategic plan is a roadmap for the organization, and it should be tailored to the specific needs and objectives of the organization. The success of a strategic plan depends on the ability of the organization to implement it effectively and to adapt it as needed to respond to changes in the environment.

Environmental Scanning

The first step in the process of strategic planning is environmental scanning. This involves assessing the internal and external environment of the organization and identifying the opportunities and threats that exist in the environment. Environmental scanning is important because it provides a snapshot of the current environment and it helps to identify the factors that may have an impact on the organization. There are a variety of methods that can be used to conduct an environmental scan, including PEST analysis, SWOT analysis, and competitor analysis.

Strategic Planning

The next step in the process of strategic planning is the development of business objectives. Business objectives are what the organization hopes to achieve in the short-term and long term. They should be specific, measurable, achievable, relevant, and time-bound. The development of business objectives is important because it provides a framework for the formulation of strategic options.

Next, we will explore the process of strategy formulation, which involves the development of strategic options. Strategic options are plans or strategies that can be used to achieve the business objectives of the organization. There are a variety of different strategic options that can be considered, and the selection of the most appropriate option depends on the specific circumstances of the organization.

Strategy Implementation

Once a strategic option has been selected, the next step is the implementation of the strategy. This involves the selection of appropriate tactics and the allocation of resources. The selection of appropriate tactics is important because it determines how the strategy will be executed. The allocation of resources is important because it determines the level of investment that is needed to implement the strategy.

Evaluation and Control

The final step in the process of strategic management is the evaluation and control of the strategy. This involves assessing the performance of the strategy and making necessary adjustments to ensure that the objectives of the organization are being met. The evaluation and control of the strategy are important because it allows the organization to track the progress of the strategy and to make necessary changes if necessary.

Endnotes

1. Environmental scanning is the process of assessing the internal and external environment of the organization and identifying the opportunities and threats that exist in the environment.
2. Environmental scanning is important because it provides a snapshot of the current environment and it helps to identify the factors that may have an impact on the organization.
3. There are a variety of methods that can be used to conduct an environmental scan, including PEST analysis, SWOT analysis, and competitor analysis.
4. The development of business objectives is important because it provides a framework for the formulation of strategic options.
5. Strategic options are plans or strategies that can be used to achieve the business objectives of the organization.
6. The selection of appropriate tactics is important because it determines how the strategy will be executed.
7. The allocation of resources is important because it determines the level of investment that is needed to implement the strategy.
8. The evaluation and control of the strategy is important because it allows the organization to track the progress of the strategy and to make necessary changes if necessary.