GHOST TOWN

Ghost Town

Ghost Town

Introduction

This paper intends to discuss the significant changes being made within the environment that tends to impact the field of strategic management. The changes within the High Street Stores are being witnessed due to the digital competitive environment. Being related to a consultancy group; the underlying need for strategic change in relation with the high street store will be explored and discussed. In recent times, the high street has been hit by the triple whammy of the double dip recession. Along with the underlying recession, the digital competitiveness and the emerging mega shopping malls and shopping centres have created essential challenges for the high street stores in order to survive and grow with the passage of time. This paper will analyse the need for strategic change in relation with the competitive environment of 2013 and beyond.

The underlying changes require the stores to focus becoming either a click and brick store or to apply the pure play strategy. Identifying the need for change in order to reveal the success of businesses in modern times remains the basic essence of this paper. The various changes that business enterprises might realign itself to the needs of the external environment and the evaluation of the possible outcomes in relation with the strategic changes and programmes are essentially linked to challenges the high street stores normally witness. Different theories of strategic management will be evaluated in relation with the paradigm shifts and the other important aspects of the strategic management to the significance of high street stores. This paper will identify and evaluate the knowledge of strategic management and strategic thinking for the purpose of analysing the significance of change management in order to improve the competitiveness and efficiency of organisations (Lexecon, 2009 Pp. 1359-1383).

Further, the importance of corporate strategy and its significance to the long term planning process will be demonstrated in paper. The changes within the corporate environment tends to create the requirement to underlying modifications of the corporate strategy along with the influences of corporate strategy and management decisions related to the acquisition of resources, selection of market size and structure will be discussed in the paper. Moving on, the paper will also analyse the significance of time horizons for planning strategy and the importance of underlined uncertainty within the business situations. Various theories and approaches of strategic management will be discussed in the paper. The purpose of this paper is to make the reader aware about the most important aspects of strategic management and the underlying changes within the process of growing the business in modern times.

Corporate Strategy

The retail environment of twenty first century needs extended focus in terms of strategies. With the passage of time, the corporate environment tends to change and the need for underlying strategic management activities within the retail environment has increased far more then it was witnessed in the history of the retail business. The basic reason behind the increased need of the strategic management concepts within the retail business relate to ...