STRATEGIC MANAGEMENT

Strategic Management Analysis

Table of Contents

Introduction3

Importance of External Factors3

Needs and Expectations of Stakeholders of the Organization4

Changes in the External Environment and Strategy4

Strategic Management Tools for Effects of Current Business Activity4

Porters 5 Forces Analysis4

Value Chain Strategic Tool5

Market Position of the Organization5

Strengths and Weaknesses Evaluation6

Modelling Tools for Strategic Options6

Porters Generic Strategy6

Comparative Understanding of Strategic Activity from Organizations7

Options for the Future Strategy7

Suitable Structure for Participation of Stakeholders7

Potential Options Review Criteria for the Strategic Plan7

Strategic Plan Development and Resource Implications8

Core Organizational Values and Current Business Objectives8

Vision Statement9

Mission Statement9

Future Management Objectives9

Measures for Evaluating the Strategic Plan9

Strategic Plan Implementation Schedule10

Dissemination Processes11

Figure 2 - Stakeholders Dissemination Process Analysis12

Monitoring and Evaluation Systems of Strategic Plan12

Conclusion12

References13

Strategic Management Analysis

Introduction

In recent years, significant changes occurred in the functioning and development of the economy. The process of globalization, large-scale action of powerful multinational corporations, and the rise of neoliberalism qualify the actions of sustaining busing growth. H.J. Hinchel Ltd is a UK food processing manufacturing company that is confronting the strategic challenges. Strategic management is the biggest challenge that every company faces during the market development phase. It relates to building the foundations for success of H.J. Hinchel Ltd by maintaining its competitive position in the market through implementation of strategic alternatives. This paper analyzes the external environment of the business, addresses the structural changes need in the organizations, development, and implementation of the strategic plan to enhance competitiveness of H.J. Hinchel Ltd in its industry.

TASK 1

Importance of External Factors

The importance of external factors varies from one organization to another and from unit to unit in the same organization. To be successful, H.J. Hinchel Ltd has to compete in foreign markets and withstand the competition of companies in the domestic market of UK. It also requires an understanding of a whole new area of business development, assessment of the customer values, and business transformation phases. Advancement in the technology directly affects the performance of the H.J. Hinchel Ltd. It unites the principles of invention and its economic value, reconciles the field of technological creativity in the economic success of the company through cost minimization and productivity improvement. Implementation of state-of-the-art technological equipments in the production process will transform the idea into an improved production process structure. It would enhance the scientific, technical, commercial, financial development, and successful marketing of new product through process improvement.

Other external factors include pricing the various aspects of functioning market systems (Liebeskind2005, 53). H.J. Hinchel Ltd should expand its pricing policy market to compete effectively in the market. Simulation of the market is always fraught with great difficulties because of the variety of factors, competitors' brands, their interactions, contradictions, and the approach to market share development through achieving efficiency in the system. Effect of exclusivity on products with an average level of prices and for providing low price goods to the consumer have certain associations with the quality of the product that affect the organization (Nag, 2007, 937).

Needs and Expectations of Stakeholders of the Organization

The organization should identify the needs and expectations of its employees in ...