Strategic Management in the P-O-L-C, Corporate and Business Strategy, and SWOT Analysis

Module 4: Strategizing Search for Strategic Management in the P-O-L-C Framework?
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The planning-organizing-leading-controlling (P-O-L-C) framework is one tool to facilitate the success of strategies in an organization. Strategies represent a shared vision, and the management needs to formulate strategies and take action, so there is successful strategy implementation. Strategic formulation is a process through which an organization positions itself to achieve the set objectives and goals, plan on achieving this, and competitive (Elbanna, Andrews & Pollanen, 2016). On the other hand, strategy implementation refers to the actions and strategic plans to accomplish the strategic goals and objectives. Implementation requires action plans and activities. Formulating the strategy requires evaluating what makes the organization competitive, the critical process to create differentiation, the resources and capacities required.
Clarifying the mission, vision, and values and conducting a strategic analysis is necessary before formulating the strategy. Thus, a strategy should position the organization to make it easier to carry out its mission effectively and efficiently (Elbanna, Andrews & Pollanen, 2016). Strategies are meant to achieve sustainable competitive advantages over time and defend the company against the competition, including mobilizing resources and improving capacities to meet the objectives. The management plays a crucial role in facilitating strategies, including being champions of change and leading so that others believe in the vision and mission. Aligning the strategy with the vision while also monitoring an organization’s goals is also necessary to achieve the objectives.
A strategy is necessary to ensure the survival and economic prosperity of organizations in the future. The strategy has two aspects that are combined, the business strategy and the corporate strategy. The business strategy focuses on how businesses should compete in a particular business based on management decisions and goal-directed actions (Wadström, 2019). The corporate strategy focuses on senior management decisions and actions to enhance competitiveness in various industries and markets. Corporate decisions include diversification, vertical integration, acquisitions, or divestitures. The management makes decisions to achieve an organization’s objectives and enhance its competitive edge. 
Business diversification is a marketing strategy where companies aim to expand their market reach, grow and invest in the business. Diversification is one way to find a new market where there are growth opportunities. Horizontal integration, vertical integration, concentric diversification, and conglomerate diversification are the different forms of diversification. Horizontal integration or diversification is a growth strategy to sell new products to existing customers in markets related to and where the company already operates. Vertical integration or divers...