Strategic Management Strategic management 

 is the last course in module M2 and is concerned with actions that organisations take to deal with changes, opportunities, threats, challenges and surprises in their external and internal environment. How, then, do organisations

 Determine desired outcomes

Understand the circumstances and events affecting these outcomes and the means of attaining them?

Decide upon actions that they intend to take

Implement these desired strategies through a series of tactical moves and changes?

Evaluate progress and relative success? These are the broad themes that are addressed in this course. As a textbook we use the fifth edition (2013) of “Essentials of Strategic Management” by J. David Hunger and Thomas L. Wheelen. It provides you with a short, concise explanation of the most important concepts and techniques in strategic management that are commonly promoted by readings on strategic management. We consider the reading to be a management toolbox whereby we acquaint you with management tools that you may use to fix management problems. You will have to read chapters 1, 3 to 8 and 10. Note: the input of the residential period strategic managem

2 CASE STUDY

In line with the objectives, which are listed above, each heading (listed below) should now be expanded upon by you comprehensively and in detail to demonstrate to the examiner that you understand the subject “strategic management”.

2.1 Description Introduction to your organisation

Typically, one would describe the business mission of the organisation that you selected. Note that the definition should focus on three elements: customer need, own strengths and belief. In the instance a proper business mission doesn’t exist, you have to develop on at this place. It shall reflect the status quo of the company you selected. We are aware of the fact that the business mission you develop may differ fundamentally from the existing one. We are also aware of the fact that the business mission you developed may highlight critical shortcomings of your business (i.e. you cannot cannot identify unique strengths, or the customer need is not sufficient in order to build business around).

2.2 Analysis Assessment of the current profit potential1

(Typically, one would focus on assessing the market position. Determine criteria that best describe your market position and present evidence whether the market position has been improving, deteriorating or remained unchanged. The assessment would include a critical appraisal of own strengths and weaknesses and opportunities and threats. The landmarks experience curve and the dynamics of substitution shall only become part of the assessment in the instance they change or question the findings pertaining to the market position.

Assessment of the future profit potential2

(Typically, one would assess the customer need (pain points, why will the need exist? Why will have no one have solved it till then? Which barriers will exist?) and how technology and technological developments may allow you to address this particular need. An assessment would focus on expected opportunities and threats and on required strengths in order to address the particular need.

2.3 Recommendations Developing a recommendation

Typically, one would revisit today’s business mission and reword it in the light of the findings of the analysis section, particularly the assessment

 Landmarks to assess the current potential of profitability: Market position, experience curve, dynamics of substitution

 Landmarks to assess the future potential of profitability: Customer problem, new technical solutions, dynamics of substitution results of the future profit potential. As before, we would expect you also to explain the mission. Don’t write more than

 pages for this part. Since exploiting the future profit potential will require actions of the company we request you to develop strategies. Remember: your current strengths might not be the strengths that one would need in order to exploit the future profit potential. You may also realise that the future profit potential envisions a different external environment over what you see today. Hence, based on the status quo you need to develop realistic strategies that would allow your company to move from where it is today. Note that your strategies will need to focus on adapting/changing current SW in order to stay relevant as a company pertaining to changing customer needs and addressing these customer needs as documented in your updated business mission.

2.4 Implementation Comments on implementation related management issues

Typically here you would offer insight as to what kind of management related constraints you can foresee should your recommendations be implemented at work and how you would suggest to overcome these management related constraints).

 CONCLUSION 

Summary Typically, in this paragraph the research problem will be re-stated and a very brief overview of the problem solution will be provided. 3.2 Value creation Typically, one would reflect in this section on what the value of having created

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