Free Paper Sample on Strategic Management

Introduction

Strategic management entails planning, observing, analyzing, and testing the needs of an organization required to meet the set goals. The business environment keeps changing and calls for organization management to assess the strategies needed for successful operations continually. Therefore, strategic management enables various organizations to familiarize themselves with the present situation, implement strategies, and analyze their effectiveness. Strategic management plays critical roles in every organization (Durand et al., 2017). Some of the benefits include organizational leaders' ability to analyze the present activities and use the feedback for plans.

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Similarly, the approach helps set a direction to be followed by the entire organization and the workers. Also, the operations tend to be more effective when strategic management is utilized in an organization. Profitability is too high, as well as the market share. Strategic management consists of various concepts that define its effectiveness in an organization. The primary ideas include the organization's mission, vision, and values. The purpose refers to establishing the organization, while the vision dictates the organization's goals within a specified timeframe (Durand et al., 2017). On the other side, values are the set guidelines that govern the operations within the organization.

CompuTech’s Approach to Strategic Planning

I think the organization lacks collaboration, which may impacts strategic planning negatively. Teamwork helps to create open communication, which enhances organizational outcomes. Open communication instills a sense of autonomy among the workers, helping to identify challenges facing organizations and provide solutions. Similarly, locking out some organization's staff during strategic planning may result in ineffective decisions. Mr. Packer has a list of activities that need to be improved. Locking Packer out of the meeting means the strategic planning process may not tackle some of the critical issues associated with the quality of the services at the organization. I believe strategic planning will not be successful and may not increase the organization's productivity.

Yes, the strategic planning process would include all the organization staff, including the middle managers and Mr. Parker. All employees are experts in their field. They know the challenges facing their work and what needs to be done to ensure higher productivity. Also, there should be even distribution of resources during the implementation process. Thus, inviting all staff to the strategic planning meeting will ensure all the organization's departments are included in the meeting agenda.

Strategic Planning Process

The strategic planning process is a series of steps used to set and achieve organizational goals within a specific timeframe. The first stage of strategic planning is the setting of goals. All corporate employees and stakeholders are involved in the goal-setting process. They are also aware of the impacts of the set goals to the organization (Grünig et al., 2018). The second phase entails the initial assessment, which encompasses the collection of all essential information required for the project. The data is used to create the organization’s vision, mission, as well as values. The third step involves the analysis of the present situation in the market. Similarly, both the internal, as well as external surroundings, are evaluated. Fourth, strategy formulation is carried out whereby the organization is involved in setting long-term goals, objectives, and ways to achieve them (Grünig et al., 2018). The outcome helps to enhance the organization’s competitiveness in the market.

The fifth step encompasses the implementation of the strategy through the use of managerial skills. Open communication is also encouraged during this stage to ensure transparency and aid in successfully implementing the plan. The sixth phase entails monitoring the project to ensure its effectiveness. A SWOT analysis is also conducted by the managers to determine the project's strengths, weaknesses, opportunities, and threats. Identifying strengths and opportunities help pinpoint areas that enhance the organization's productivity (Grünig et al., 2018). Similarly, the organization’s weak points and threats help to plan for strategies to use to turn the weaknesses into strengths.

If the process remains as it is, Parker can still have his ideas included in the strategic planning process. He can speak to the executive manager to have all the workers and managers included in the organization's decision-making process. Parker can explain all the benefits of a democratic leadership style that does not discriminate against employees. Similarly, Parker can ask for permission from the executive manager to establish rules that improve an ethical working environment to enhance its productivity. Likewise, the rules can also include the organization's values and integrity. Inclusive trust can also be employed if Parker can convince the executive manager to establish open communication.

Partnering

Partnering involves merging two or more companies into one and signing an agreement on how the revenues will be shared. All decisions made in the organization affect the two organizations- examples include Starbucks and Nobles bookstores. On the other side, strategic alliances involve the coming together of two companies to achieve specific goals while remaining independent- for example, Google and Luxottica (Ku et al., 2016). Internal partnering is another concept used in partnership scenarios. It entails a partnership between two departments within an organization to achieve specific goals (Robson et al., 2019). Also, supplier partnership involves creating a close relationship with the suppliers that will ensure mutual benefit.

Similarly, partnering with customers necessitates connecting with clients by engaging in meaningful conversations. Communication helps to get to know their needs and provide ways to accomplish them. Also, partnering with potential competitors involves forming the strategic alliances but between organizations of the same size (Robson et al., 2019). The partnership helps different organizations to learn from each other and meet their specific goals.

Conclusion

Finally, strategic planning requires clearly defined goals- the short-term goals should be separated from the long term goals to avoid delay in achieving various objectives. The strategic planning process involves setting the strategic decisions, allocating resources required for the organization's operations, and planning the strategic events. A defined strategic management process helps make reasonable decisions within an organization and develop goals that align with the changing technology (Jabbar et al., 2017). The organization also achieves competitive advantage in the market, which improves its market stock and plans.

References

Durand, R., Grant, R. M., & Madsen, T. L. (2017). The expanding domain of strategic management research and the quest for integration. Strategic Management Journal, 38(1), 4-16.
https://doi.org/10.1002/smj.2607

Grünig, R., & Kühn, R. (2018). Strategy Planning Process. The Strategy Planning Process (pp. 43-54). Springer, Berlin, Heidelberg.
https://youtu.be/s_OvXeUQV3o

Jabbar, A. A., & Hussein, A. M. (2017). The role of leadership in strategicmanagement. International Journal of Research-Granthaalayah, 5(5), 99-106.
https://doi.org/10.5281/zenodo.583890

Ku, E. C., Wu, W. C., & Chen, Y. J. (2016). The relationships among supply chain partnerships, customer orientation, and operational performance: the effect of flexibility. Information systems and e-business management, 14(2), 415-441.
https://doi.org/10.1007/s10257-015-0289-0

Robson, M. J., Katsikeas, C. S., Schlegelmilch, B. B., & Pramböck, B. (2019). Alliance capabilities, inter partner attributes, and performance outcomes in international strategicalliances. Journal of World Business, 54(2), 137-153. https://doi.org/10.1016/j.jwb.2018.12.004.