M20467 Strategic Management Assignment Answer UK

M20467 Strategic Management course learn about the critical concepts and theories of strategic management, which is the process of formulating and implementing strategies to achieve organizational goals and objectives. You will gain a deep understanding of the strategic management process, including strategic analysis, strategy formulation, strategy implementation, and strategy evaluation.

Through case studies, group discussions, and individual assignments, you will learn how to identify and analyze industry trends, evaluate competitive forces, assess organizational resources and capabilities, and develop strategies that enable organizations to gain a competitive advantage. You will also explore the importance of leadership and organizational culture in successfully implementing and executing strategies.

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Below, we will describe some assignment briefs. These are:

Assignment Brief 1: Examine & evaluate key propositions underlying strategic management theory & practice in national & global contexts.

Strategic management theory and practice is an essential aspect of business and organizational management. It encompasses a range of activities, including strategic planning, analysis, implementation, and evaluation. In national and global contexts, strategic management theories and practices are shaped by a range of factors, including political, economic, social, and cultural influences. In this response, I will examine and evaluate some key propositions underlying strategic management theory and practice in national and global contexts.

Proposition: Strategy is essential for organizational success in national and global contexts.

Evaluation: This proposition is widely accepted in the field of strategic management. Organizations that have clear and effective strategies are better equipped to achieve their goals and objectives. In national and global contexts, strategic management is particularly critical because organizations must navigate complex and dynamic environments that are constantly evolving. The success of an organization in these contexts depends on its ability to adapt and respond to changes in the market and the broader environment. Therefore, having a well-crafted strategy that takes into account these factors is essential.

Proposition: Strategic management is a continuous process that involves planning, implementation, and evaluation.

Evaluation: This proposition is also widely accepted in the field of strategic management. Strategic management is not a one-time event; it is an ongoing process that requires constant monitoring and adjustment. In national and global contexts, the environment is always changing, and organizations must continually adapt their strategies to remain competitive. This means that strategic planning is not enough; organizations must also have robust implementation and evaluation processes in place to ensure that their strategies are effective.

Proposition: The SWOT analysis is a useful tool for strategic management in national and global contexts.

Evaluation: The SWOT (strengths, weaknesses, opportunities, and threats) analysis is a widely used tool for strategic management in both national and global contexts. It helps organizations to identify their internal strengths and weaknesses and external opportunities and threats. However, the effectiveness of the SWOT analysis depends on how well it is conducted. In particular, organizations must be careful not to rely too heavily on their strengths and ignore their weaknesses or the threats facing them. Additionally, the SWOT analysis is just one tool among many that organizations can use to inform their strategic decision-making.

Proposition: Corporate social responsibility (CSR) is an essential aspect of strategic management in national and global contexts.

Evaluation: This proposition is gaining increasing attention in the field of strategic management. CSR involves considering the social, environmental, and ethical impacts of an organization’s activities and taking steps to mitigate any negative effects. In national and global contexts, CSR is particularly important because organizations are increasingly being held accountable for their impact on society and the environment. Additionally, CSR can be a source of competitive advantage, as consumers and investors are increasingly drawn to organizations that demonstrate a commitment to responsible business practices.

Proposition: Collaboration and partnerships are essential for success in national and global contexts.

Evaluation: This proposition is also gaining increasing attention in the field of strategic management. In national and global contexts, organizations are often faced with complex challenges that cannot be addressed through individual efforts. Collaboration and partnerships with other organizations can be an effective way to address these challenges and achieve shared goals. However, successful collaboration requires careful planning and management, as well as a willingness to share resources and information. Additionally, collaboration and partnerships can be challenging to navigate in a global context, as cultural and linguistic differences can create barriers to effective communication and coordination.

Assignment Brief 2: Appraise strategic issues at business & corporate levels using appropriate frameworks & evidence to identify, develop & recommend strategic options.

When appraising strategic issues at the business and corporate levels, it is important to consider a range of frameworks and evidence to identify, develop, and recommend strategic options. Below are some frameworks and approaches that can be useful in this process:

1. SWOT Analysis: This framework can be used to assess the internal strengths and weaknesses of the organization, as well as the external opportunities and threats facing the organization. By identifying these factors, the organization can develop strategies that leverage its strengths, address its weaknesses, take advantage of opportunities, and mitigate threats.
2. PESTLE Analysis: This framework is used to assess the external factors that impact the organization, including political, economic, social, technological, legal, and environmental factors. By understanding these factors, the organization can develop strategies that take advantage of opportunities and mitigate risks.
3. Porter’s Five Forces Analysis: This framework is used to assess the competitive landscape of the industry in which the organization operates. The five forces are the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitutes, and the intensity of competitive rivalry. By understanding these forces, the organization can develop strategies that enable it to compete effectively in the industry.
4. Ansoff Matrix: This framework is used to identify strategic options for growth. The matrix considers two dimensions: the products/services offered and the markets served. The four strategic options are market penetration, market development, product development, and diversification.
5. McKinsey 7S Model: This framework is used to assess the alignment of the organization’s strategy, structure, systems, style, staff, skills, and shared values. By assessing the alignment of these factors, the organization can identify areas for improvement and develop strategies to improve alignment.

When appraising strategic issues, it is important to consider a range of evidence, including market research, financial analysis, customer feedback, employee feedback, and industry trends. By using a range of frameworks and evidence, organizations can develop strategies that are informed, evidence-based, and effective.

Assignment Brief 3: Propose appropriate strategies for issue resolution & the strategic changes needed for their implementation.

Resolving issues requires a systematic approach that involves identifying the root cause of the problem, designing and implementing appropriate solutions, and monitoring their effectiveness. Here are some strategies for issue resolution:

1. Identify the root cause: Before developing any solution, it’s essential to understand the underlying cause of the issue. This will help you to identify the right solution and prevent the problem from reoccurring.
2. Develop an action plan: Once you have identified the root cause, you should develop a detailed plan of action that outlines the steps you will take to address the issue. Your action plan should be specific, measurable, achievable, relevant, and time-bound (SMART).
3. Involve stakeholders: It’s important to involve all stakeholders in the issue resolution process, including customers, employees, and suppliers. This will help you to gain a better understanding of the problem and identify potential solutions.
4. Monitor progress: You should regularly monitor the progress of your action plan to ensure that it’s on track and making a positive impact. This will also help you to identify any potential issues before they become major problems.
5. Continuously improve: Issue resolution is an ongoing process that requires continuous improvement. You should regularly evaluate your strategies and make adjustments as needed to ensure that they remain effective.

Implementing these strategies may require some strategic changes within your organization. Here are some examples:

1. Establish a culture of continuous improvement: To effectively resolve issues, your organization must embrace a culture of continuous improvement. This involves encouraging all employees to identify and address problems as they arise and continuously seek ways to improve processes and products.
2. Implement technology solutions: Technology can play a significant role in issue resolution, providing tools for monitoring, analysis, and communication. Consider implementing technology solutions such as customer relationship management (CRM) systems or quality management software to help you identify and resolve issues more effectively.
3. Develop a customer-centric approach: Putting the customer at the center of your business is essential for issue resolution. This involves listening to customer feedback, anticipating their needs, and continuously improving products and services to meet their expectations.
4. Invest in employee training: Your employees are your most valuable asset when it comes to issue resolution. Investing in employee training and development can help them to develop the skills and knowledge they need to identify and resolve issues effectively.
5. Foster collaboration: Collaboration between departments and teams can be critical to resolving complex issues. Encourage collaboration by breaking down silos and promoting communication and teamwork across the organization.

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