Tuesday, February 25, 2020

Strategic Management Essay Example | Topics and Well Written Essays - 1500 words - 13

Strategic Management - Essay Example (Ansoff, 1965) Intended strategy is nothing but a plan or an intended course of action thought to be most suitable for achieving predetermined corporate goals. Sometimes, if the situation so desires, a ploy or a manoeuvre, tricky, cheeky or otherwise, to surmount an immediate obstacle or to browbeat a serious competitor; is also called a strategy. The basic concept of strategy is that it is pre-planned in nature and is given a proper shape after a lot of brainstorming. Strategy also determines the basic consistency in behaviour and approach of a particular firm towards the economy in general and the market in which it operates in particular. Strategy also formalises the positioning of the firm in the market. By positioning it is meant how a firm would relate with the external environment and what would be its reaction in case of a change in the parameters of such environment. Some authors are of the opinion that strategy is in a nutshell the basic prism through which an organisation perceives the entire world outside its own internal environment. Content of a strategy is basically an exposition of the current position of the company and the desired status the management would like to attain at the end of the plan period. It is nothing but a detailed brief of where it is now and the broad steps to be taken to reach where it intends to. The context part of a strategy deals in detail with the internal and expected external environment of an organisation and in effect undertakes an extensive SWOT analysis to ensure that the organisation can reach the set targets with least effort. The process part of a strategy actually lays down the timing of different actions and clearly defines who would take part in the actions directly and who would remain in indirect support thus ensuring unity of action and streamlining of efforts to prevent efforts getting wasted by working at

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