STRATEGIC MANAGEMENT

Strategic Management



Table of Content

Introduction3

Task 1: John Kotter's Strategic Change and Business Transformation3

Establishing a Sense of Urgency3

Creating the Guiding Coalition4

Developing a Vision and Strategy4

Communicating the Change Vision5

Empowering Employees for Broad-Based Action5

Generating Short Term Wins5

Consolidating Gains and Producing More Change5

Anchoring New Approaches in the Culture6

Task 2: IBM (Big Blue)6

Task 3: Synergies; Joint Ventures And Marketing Alliances Role in Strategy8

Task 4: Risk Exposure Uk Medium Sized Businesses9

Conclusion11

Strategic Management

Introduction

Achieving the strategic competitiveness and earning above average returns is one of the strategic management challenges. It is very difficult to be achieved even if the firm is very big and it is even harder for those companies that are in small scale. Eventually the profits are usually hard to find or gain. Profit is one of the aim or goal for most of the firm or company. However, in strategic management, strong and consistence profit is not the main priority or concern. A strong and well-thought-out strategy was the top concern. This was followed by maximizing consumer satisfaction and loyalty, business leadership and product or service quality. And it is very hard to achieve actually because each consumer is different from one another in terms of the satisfaction towards a certain product or service quality. So, this could be one of the challenges of strategic management.

Task 1: John Kotter's Strategic Change and Business Transformation

Today's business world has become a diverse workplace. This is extremely evident in the United States. As these diversities merge more and more how do businesses today stay successful yet retain their best employees? How do companies change their human resources elements and stay successful? Organizations must evolve through life cycles just like people. There are many ways to achieve this; some are scientific theories like those stated in Organizational Behavior and Management while others like John P. Kotter in Leading Change believe it is just paying attention to your employees. Which one is the right path to follow? Or can you follow both? If an organization today wants to be successful they must understand why change is resisted and determine how to create a process to overcome this resistance to change.v Kotter believes that there are eight steps to follow in sequential order to overcome any resistance to change in the business world.

Establishing a Sense of Urgency

With complacency high, transforms usually go nowhere because few people are even interested in working on the change problem (Kotter, 1995). In other words, if the need for change is not recognized, then anything attempted will not work. Change and innovation typically disrupt normal routines and patterns of behavior. When routines are disrupted there are many possible reactions ranging from enthusiastic acceptance to covert sabotage. In this step, both authors agree that recognizing the need and ensuring that it is forefront is vital. People are afraid of change. They are afraid of what it might bring. If management does not understand this fear, then they are doomed for failure from the beginning. If everyone is not on the same timetable, then ...