Strategic Management



Strategic Management

General Overview

This paper focuses on analyzing the core elements of strategic management in practical terms. For this purpose a case study is examined critically to understand the basic underlying concepts. It discusses the learning about strategy in action in general and strategy development processes in particular from this case.

Strategic management is based on the human potential as the basis of the organization, the organization focuses on customer needs, providing flexible control and timely changes in the organization, meet the requirements of the environment and provide a competitive advantage. The main steps of strategic management are;

1. Defining the scope of business and development purposes of the company

2. The transformation of the company into private use and short-term activities.

3. Defining a strategy to achieve performance goals.

4. Development and implementation of strategy.

5. Performance assessment, monitoring the situation and the introduction of corrective actions.

However, the study intends to solve two major questions of the case study, the first one is what generally do we know about strategy in action and the strategic development process particular to the McFarlane case study. On the other hand, the second question is about analyzing the relationship between consultant and client specific to the case study with the supportive arguments.

Question # 1

Introduction

The strategy is general is the plan of action made for the long period of time in order to achieve the complex and complicated objectives of the organization. Strategy is the direction and the scope of the company which it wants to achieve in the longer period of time through exploiting the resources within the challenging environment to get the most advantage to meet with the needs of the market (Riley, 2012). Strategic action means to convert the strategies into the actions by implementation and execution. Strategic action includes the cycle of strategic analysis, strategic choice and strategy implementation where the organizations examines the core strengths of the business along with the understanding of external opportunities that may impact the overall position of the company (Christensen and Donovan, 2000). However, the strategic choice involves identifying the strategic options and then critically evaluating each option in the best interest of the organization and finally implementing the selected strategy in order to translate the strategies into the action (Porter, 1996).

Most of the organizations fail to implement the strategies in a proper way and cause to meet with the failures. This is because the suitable framework is missing which can architect the strategy from the conception till the implementation and leads the organization towards the sustainability in the long run (Sen and Zweifel, 2013). So it is required that the strategic intent must be converted in to the implementable tactics that can easily be understood, embraced, and executed by the overall organization (Schmidt, 2010).

Discussion

As far as the case study is concerned, it provides an in depth exposure of the strategy that was being carried out in the presence of Bill. However, as for now bill plans to retire, but the major problem ...