There are two parts to this assignment and you must complete both parts. In Part 1 you will critically evaluate the literature on Strategic Management as theory and process. In Part 2 you will seek to...

Running Header: STRATEGIC MANAGEMENT – PART 1 & PART 2 1
Strategic Management – Part 1 & Part 2
Strategic Management – Part 1 & Part 2 2
Strategic Management – Part 1 & Part 2
Introduction
The context of businesses pertaining to organisations in the environment are
characterized by the ever-changing nature of it (Hill et al, 2014; Eden & Ackermann, 2013). This
can pertain to applicable law that are modified, innovative form of technology or else new
behaviour pertaining to customers or people, organisations get themselves most often across
varied settings as well as are forced to react / respond / act in a suitable manner (Hill et al, 2014;
Eden & Ackermann, 2013). These reactions could lead to changes in terms of applicable
strategy. These strategic changes are vital, as they aid the business organisations in retaining or
else gaining suitable competitive advantages across the altered and ever changing business
environments (Hill et al, 2014; Eden & Ackermann, 2013). Needs of strategic change and
affiliated planning are very critical as many number of problems / issues arise which require to
be resolved for effective results (Hill et al, 2014; Eden & Ackermann, 2013).
The objective of this report is to present a detail review of literature concerning the
theory practice relating to strategic management, specifically, in terms of the challenges that are
encountered in designing / formulating and implementing / deploying the strategy, the effective
solutions to address these challenges as well as the important models / frameworks that pertain to
strategic management and finally evaluate the application of strategic management concepts,
tools and approaches with respect to a specific case.
Strategic Management – Part 1 & Part 2 3
Organisational Context
Strategy in itself can essentially be considered to be a plan for the business organisation.
Post the recognition of the specific need with respect to new strategy or a change in strategy, the
manager needs to set suitable goals (Hill et al, 2014; Eden & Ackermann, 2013). Later on, the
manager needs to determine the relevant actions for attaining the identified goals by using the
resources which are available (Hill et al, 2014; Eden & Ackermann, 2013).
The overall feasibility as well as purpose form essential elements for strategic planning
and yet in addition the culture as well as structure of an organisation shall play critical role
within this phase. Strategic changes, designing / formulation of the strategy as well as successful
form of implementation have sole objective of higher levels of organisational performances (Hill
et al, 2014; Eden & Ackermann, 2013). The most critical challenges with respect to strategic
management is remarkably the phase which comes after planning / formulation, successfully
implementing the strategy which is required and has been designed / formulated (Hill et al, 2014;
Eden & Ackermann, 2013).
It becomes highly significant for the managers in understanding as well as identifying the
key pitfalls / challenges which could take place at the time of process for improving effective
implementation. For knowing which of the pitfalls could emerge can aid in preventing these as
well as could lead to highly proactive form of approach (Storbacka, 2011; Hitt et al, 2012). At
the time of this process, identification becomes necessary for solving these challenges.
Strategic Management – Part 1 & Part 2 4
Literature Review – Theory & Practice
Planning / formulation that is designing of required strategy is very much critical and has
been suitably established so by way of various studies undertaken in this regard. Before the
undertaking of implementation, members from several of the functions / departments need to be
fully involved with respect to this formulation / design stage (Schaap, 2012; Dandira, 2011;
Ugboro et al, 2011). The people who actually get fully involved need to hold adequate
credibility, and hence other relevant attributes can trail their leads and effect the significance of
the changes (Schaap, 2012; Dandira, 2011; Ugboro et al, 2011). Hence the people resources
involved need to possess concrete knowledge in educating others. During the planning phase, a
manager needs to undertake organisation of the implementation efforts in a successful manner.
Resources need to be suitably allocated, authorities and the responsibilities have to be properly
established and the capabilities as well as concerns pertaining to the functions have to be
properly resolved (Schaap, 2012; Dandira, 2011; Ugboro et al, 2011).
In various studies with respect to designing, formulating and planning of strategy it is
identified that in the past in terms of industry practice the focus was on longer term, formal, as
well as tending towards top-down as well as bottom up (Schaap, 2012; Dandira, 2011; Ugboro et
al, 2011). Recent studies in this regard have determined that these form of planning are outdated,
as the same is to a large extent mechanical and excludes the relevant people in the organisation
(Schaap, 2012; Dandira, 2011; Ugboro et al, 2011). In the present times, strategic planner has to
be considered as well to be part of overall implementation in practice
Strategic Management – Part 1 & Part 2 5
Various studies define strategic planning to be continuously form of changing portfolios
of the projects which evolve towards the completion (Schaap, 2012; Dandira, 2011; Ugboro et al,
2011). Strategies by themselves start to be in an increasing trend incremental on account of their
need to be observed in conjunction with that of expanding knowledge base pertaining to
organisations (Schaap, 2012; Dandira, 2011; Ugboro et al, 2011). Strategies continuously
become redefined with the affiliated knowledge concerning a specific organisation gradually
evolves as well as allows for newer insight (Schaap, 2012; Dandira, 2011; Ugboro et al, 2011).
Hence it becomes essential that the strategy adapts for the concerned changes as well as become
increasingly dynamic and goes through revision consecutively. Various studies in this regard
complement that overall consistency pertaining to strategy are critical, referring that the strategy
all through the business entity needs to be suitably aligned with that of overall direction
concerning the particular company and the identified goals (Schaap, 2012; Dandira, 2011;
Ugboro et al, 2011). In this context certain studies have also determined that different set of
business units residing within a single business corporation usually pursue varied set of strategies
and the administrative mechanisms which is utilized by the corporate headquarters for the
management of these businesses need to also suitably differ (Schaap, 2012; Dandira, 2011;
Ugboro et al, 2011). In further studies, it is specified that accountable people within the phase
need to consider stating exactly what should be avoided as well as stressing what are the most
critical aspects (Schaap, 2012; Dandira, 2011; Ugboro et al, 2011). The same leads to higher
levels of understanding amongst the employees who are expected in behaving as per the new
strategy being implemented.
Strategic Management – Part 1 & Part 2 6
In the works undertaken by various studies there is a focus over the strategic consensus,
in particular over the shared priorities as well as understandings (Buller & McEvoy, 2012; Baer
et al, 2013; Dandira, 2012). Consensus form the key element, as strategies could be interpreted
across diverse and varied set of approaches. It becomes the responsibility of a manager in
promoting and guiding the people within the business organisation towards unified direction.
Strategic consensus can be linked with the success of implementation as well as increased levels
of performances (Buller & McEvoy, 2012; Baer et al, 2013; Dandira, 2012). As the means to
enhance the strategic consensus, recurrent vertical communication forms a key complementing
factor. As business organisations are essentially social collectives, communication represents the
mechanism for transmitting the values as well as ideas for increasing the overall identification
and the same is effectively linked with the formulation phase (Buller & McEvoy, 2012; Baer et
al, 2013; Dandira, 2012). Other studies in this regard noted a deficiency in terms of effective
form of common understanding to be major barrier with respect to strategy implementation. The
same is in line alignment to the findings of various studies with business organisations lacking
strategic consensus as well as clarity with respect to goals / direction (Buller & McEvoy, 2012;
Baer et al, 2013; Dandira, 2012). In one other study, it was determined that...