Monday, August 12, 2019

Stratigic Management Essay Example | Topics and Well Written Essays - 3000 words

Stratigic Management - Essay Example This is designed to achieve the objectives laid down by allocating resources for plan and policy implementation, including the programs and projects an organization undertakes nationally or internationally (Kim and Stimpert 2004, p.39). Strategic management generally offers a way through which a sensible scorecard can be drafted. The scorecard is a means through which an organization will have a clear evaluation of its overall performance and be able to evaluate itself in terms of general business evaluation in view of its progress towards the drawn objectives. Others studies indicate that, there is consistency in terms of strategies only when the actions and behaviors of the organizations get consistent with the set goals and objectives, including the expectations of the management as a team of leadership in the organization. Consistency will be realized when also the actions of the organization are consistent with the market and its context at various stages; because the market sit uations keep fluctuating every now and then (Wheelen and Hunger 2003, p.46).The consistency of the organization is supposed to match up the market changes for its competitive advantage (Deephouse 2006, p.48). Findings show that strategic management involves the board of directors or the management team and key stakeholders who form part of the team that sets objectives and goals of the organization including the allocation of key resources necessary for achieving the goals set. In general, strategic management is essential in helping an organization to formulate and implement policies that assists in aligning it with its environment so that the set goals can be achieved in the end. A global organization needs a good and structured management model depending on its choice of operation, size, and the need to comprehend investor requirements and views. Various strategic management approaches key to the evaluation process of an organization, especially an organization that has global pr esence in foreign markets, exist. Universal (systemic), conventional, ‘evolutionary’, and ‘processaul’ methods. Studies related to these approaches indicate that, descriptive schools give a description on how strategies need to be implemented to achieve the best results for an organization (Pine and Gilmore 2005, p.43) . On the other hand, prescriptive schools of thought are used in designating- the perceived best practices for achieving set goals in line with the objectives. To start with, concerning the strategic management approaches, the strategy formation, which is classical school; emphasizes that the preliminary undertaking in view of strategic management. This involves the formation and dissemination of the vision, and the mission statements of the organization (Kroll 2005, p.60). This gives the organization specifications concerning the scope of activities and the target markets that the organizations intends to serve. This is followed by the perfo rming of situation analysis, contender analysis (internal and external), self-examination, and examination of both micro and macro environments of a business. The organization and its historical background The basis of this discussion will largely explore global strategies revolving around Dell Inc. as an international business. According to studies, Michael Dell in Texas founded Dell as a multinational information business organization in mid 1980s; it had its

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