18 pages/≈4950 words
Business & Marketing
Business and Marketing: Models in Strategic Management (Essay Sample)
First page it has to have the topic Second one it has to be a plan page Thread one it has to be general introduction talking about the assiment how it is going to explain everything in it and in gnarl the kind of the models how many one Main body: 1. General discussion: 30% only This section should explain why models are so commonly used in strategic management and focus on answering two key questions: How might models help senior managers deal with the challenges facing them? Can the use of models actually improve decision-making? At least we have to talk about 3 models just in general 2. General discussion: 10% only How models can help senior managers deal with the challenges facing them Part tow: we have to talk about one model? e.g. (pastl ) Just in that part describe that model whos written this model? What are the principals? 3. Reflection: about the model which I have chosen? e .g (pastl) this part it has to be 60% And at the end how is the model help person to be effective at the work Please make sure is the assignment reference by Harvard method and at least it has to include 12 boxs or sores thanks Strategic Management ASSIGNMENT Your task is to demonstrate an understanding of the role of academic models and frameworks in strategic management. This will include an assessment of the extent to which these models may help to analyse, explain, and prescribe an organisations strategy. A formal evaluation of the strengths and weaknesses of one of these analytical tools is therefore necessary. Please note that you must evaluate a specific model by utilising a range of literature and so you should select one on the basis that literature that appraises them does exist. A superficial, descriptive discussion of a model will attract few marks. Suggested assignment structure _________________________________________________________________ Title page (Module name, Student name) 3. General discussion: This section should explain why models are so commonly used in strategic management and focus on answering two key questions: How might models help senior managers deal with the challenges facing them? Can the use of models actually improve decision-making? 4. Description: This section should offer a brief description and explanation of a model of your choice. (NB this section only attracts 10% of the overall mark and so should not be an exhaustive description) 3. Reflection: This section must evaluate the strengths and weaknesses of the model selected. This evaluation requires you to find and synthesise the views of a range of authors who have offered critiques of this model. Bibliography Appendices _________________________________________________________ Evidence of wide reading is necessary Maximum word length (excluding tables, graphs and figures and appendices) = 5,000 Approximate weighting of marks: Section 1 = 30%, Section 2 = 10%, Section 3 = 60% Indicative Reading (Latest Editions) G Johnson & K Scholes, Exploring Corporate Strategy, Prentice Hall M E Porter, Competitive Strategy, Macmillan J L Thompson, Strategic Management, Thompson Learning B DeWit & Meyer: Strategy: Process, Content and Context, Thompson Learning Grant, R M. Contemporary Strategy Analysis, Blackwell Indicative References Reading List The following are a list of a number of appropriate texts. The core text is highlighted. Virtually any text with strategic management/corporate strategy in the title will be relevant. The library is well stocked with these books so purchase is not a necessity but is preferable for continued availability. source..
MODELS IN STRATEGIC MANAGEMENT
Business and Marketing: Models in Strategic Management
Decision making is the most important function that is performed by any manager in an organization. Strategic decision making on the other hand is the main function that is performed by senior management. In the course of making decisions managers are assisted by number of strategic management models that can be applied at different levels or in different kinds of situations usually faced by senior managers. (Azar Kazmi.2008, 14). In order to understand the concept, an explanation of decision making in the business sense is necessary. From a strategic management point of view, decision making can be described as the process of selecting a course of action from among a number of alternatives. The process of decision making involves a number of aspects. First, the objectives that are desired have to be determined. Second, alternative ways through which the objectives can be achieved are then identified. Next, each of the alternatives is closely analyzed in terms of the ability to achieve the objective and finally from among the alternatives the best one is selected. (Pankaj Ghemawat 2001. 22)
The end result of the process is a decision that is to be implemented. While the process might appear to be simple, the actual practice of decision making is a highly complex phenomenon. This is due to the fact that at each stage of the decision making process, problems are likely to be encountered. Thus carrying out decision making at a strategic level is an extremely difficult and complicated process. Another fact that makes the process more critical is that this decision making is what determines most aspects of strategy formulation. Examples of such a scenario would be determining what environmental opportunities and threats to focus on and determining where exactly to allocate resources from a number of alternatives.
Globalization, rising complexity of doing business, increased competition and access to a wide variety of information are some of the factors that have pushed managers towards looking for strategic models that could help them in their managerial decision making. This is necessary due to increased pressure to gain competitor advantage over rival firms, increase shareholders wealth and to keep on enhancing the profitability of their organizations. While some of these models may at times happen to be passing fads or trends, some have of them are proven over time and they remain solid ideas worth considering and applying widely to many different situations in the management context. (Lamb, Robert, and Boyden.1984. 67).The usage of these strategic models has attracted the attention of management thinkers and researchers who have conducted studies on the use of these models at a global level.
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