Strategic management has made major contribution in the field of administration, sociology, economics and the organizational behavior. It is a new concept contrasted by the other disciplines. Strategic management has a lot of scope and helps in controlling various objectives in order to attain objectives. However this field is concerned for vigorously concentrating over the hypothetical situation (Boxall and Purcell, 2011). It is lacking reasonable application to be focused so that organizations can attain innumerable objectives. Few scholars consider that there is no appropriate research happened in the field. Every author is having a different perspective about the importance of strategic management. The variation of strategies is implemented in terms of the type of business organization they are serving. It has become important to adopt relevant strategy so that the organization can attain desired goals. They have divided strategic management according to his/her convenience (Freeman, 2010). Some of the major issues in the organization are surrounded by managing the business more efficiently. The most important part of a strategy is to implement the business strategies in way that it helps in attaining effective market result. Various authors have formulated strategies that have helped in understanding position of brand. The classification is divided into the following ways (Wooldridge, Schmid and Floyd, 2008). As per Mintzberg, strategies have a high influence on the managerial activity. Strategies are the plan that helps an organization to grow effectively in future. This helps the company to attain the desirable targets by giving time to every individual. It is very well suggested by Strickland and Thompson that the company’s strategies are made up from a blend in between competitive moves and business approaches performed by managers to satisfy customers. The basic plan made by the company to achieve innumerable target is called as strategy. The procedures followed by a company to attain innumerable objectives are called as strategic management (Grant, 2016).
The interpretive model sees social science as compilation of social indenture and strategies. According to the author, organizations work on attitude and principles accepted by the business. The model focuses upon adoption of the subsequent business model. The linear model primarily focuses on development and the sequential methods to make proper decision (Hill, Jones and Schilling, 2014).
The ten school described by Mintzberg includes three perspective and seven descriptive schools. Their relevancy in today’s business scenario is necessary to be implemented. The purpose is to formulate strategies in a way that helps in devising an effective strategy (Wheelen and Hunger, 2011).
According to Mintzberg the design school is formulated using various different tools and techniques. This is a new age concept where the organization formulates all the strategies considering different factors. Modern organization need to consider various factors that are attached with their internal environment in order to make an appropriate inference (Jeffs, 2008).
It encourages implementation of the strategies depending upon the current business scenario. This concept focus over analyses of the external structure while implementing the strategies. In present scenario majority of strategies formulated by the organization are based on external factors.
This concept is emphasizing over the position of the business in the industry. It focus on business to change the way they are practicing business according to the needs. This concept primarily focuses on the manner in which the strategies need to be developed in order to change the current market position (Johnson, Scholes and Whittington, 2008).
The organizations following the concepts need to focus on their visionary leaders. They are the one who formulates strategies in the organization by making changes in accordance with the environment. The concept is based on the centralized system of decision making in order to formulate strategies. Large sized multinational organizations are following strategies that are based on the vision of their leaders. Microsoft follows the policies that are originally formulated by Bill Gates (Mintzberg, 2009).
The organization under this school formulates strategies that are based on the psychological needs of the customers. These organizations focus on the needs and wants of the customers and craft strategy that is based on vast research. The audio control in the steering wheels of Toyota Premio 2008 was based on the analysis of customer’s desires (Lunenburg, 2012).
The concept suggests that the strategies need to be based on the competitive advantage. The strength of the company can be used to formulate effective brand strategy. The organization need to heavily invest on the on making an investment. People buying premium perfume brand having an exquisite fragrance often force other to buy the same product. This affects the buying decision of the customers.
This school let the corporate culture formulate their policies according to the market need. It encourages employee’s involvement in the formulation of the strategies. The employees at BMW have a freedom to take decision which is a part of their corporate culture. This let employees to take quick decisions.
They focus on the changes that keep changing organizational decision making procedure. This type of school primarily based on the flexible organizational structure and the employees that can adjust according to the rapid change.
The management is thereby responsible to keep a check over the organization in decision making. The strategies are based on the past experience. It sometimes observes the decision made by the other companies in order to make an effective decision.
This school of thought gives more importance to the environment. The management gives more attention to the surroundings in order to make effective decision. Environment is considered as an important factor in decision making. This school primarily focuses on the external environment factors that helps in formulation of strategies based on those factors. Dell made low priced computer during the recessions that appealed many consumers and the corporate organizations
The rational planning stage derives the gap in the numerical objectives that result into the present strategies. The implementation of plan needs to be adaptive in nature. All these stages led to flexible mindset. This approach is all about involving the evolutionary adjustment behavior as necessary for survival interest. It is moreover related with adopting the system as per the cultural elements (Eden and Ackermann, 2013).
Their concern is related with the individual level and viewpoint related to it. The organic viewpoint is related with growth of the association in meeting objectives. . The overall purpose of the mechanism is to derive an efficient technique that will help in reducing the shortcomings. The top supervisors are the key performer and they are responsible to mould course of action in the organization. The middle level management viewpoint is to hold the center administrators in order to manage the issue. It is their closeness to business that makes them an efficient performer (Thompson and Martin, 2010).
This lens sees strategy development as a part of logical determinism. Through this lens clear direction in a firm, industry can be evaluated. It follows a selection-implementation process.
As per Mintzberg strategic development is adaptive and forms an important part of emergent strategies. This model is based on continuous adaptation of past strategies that is based on experience.
It is a choice in between different possibilities and inspires confidence on chosen option. It sees strategy development in the terms of language resource through which a strategy is communicated.
This approach is based on innovation and need for diversity in the organization. The strategies are evolved on the basis of people respond to the changing environment.
The difficulty related to approach should be made as per the claim made by different schools. . There are two different schools of strategic management: design school and learning school. These schools are efficient force in matching the strength, weakness, opportunities and threats. It is related to the SWOT analysis that helps in developing effective strategies. The Ansoff product Matrix helps in understanding information related to the strategic implementation. The learning school specifically focus on how strategy occurs differ from design school. There are three different types of strategies that are realized by a business organization to carry out work in an effective manner. These strategies have emerged as an efficient force that helps in guiding the organization (Peteraf, Gamble and Thompson, 2014).
The Strategic Position Strategy in Action Strategic Choices
|
ENVIRONMENT |
PROCESS |
BUSINESS LEVEL |
|
CAPABILITY |
RESOURCING |
INTERNATIONAL |
|
PURPOSE |
PRACTICE |
EVALUATION |
|
CULTURE |
CHANGING |
INNOVATION |
|
ORGANIZING |
CORPORATE- LEVEL |
(Source: By Author)
Corporate strategy, business level strategy and operational strategy are the three strategies that exist in an organization..These strategies help in analyzing the general concern of an individual and the organization in order to meet the objectives. The corporate level strategy is related with general reason and extensions of a business association. The business level strategy is concerned with effective strategies. The operational strategies are related with implementation of both the strategies (Davenport, Leibold and Voelpel, 2007). This report is based on different perspective related to strategic management in Social Science. A good strategy is a waste of time without an effective strategic management. PepsiCo launched Pepsi Blue in the year in 2003 which was discontinued in 2004 due to controversy related to use of dye Blue 1 which is banned in majority of countries. There aggressive marketing strategy had divided consumers. The reason behind its failure was due to subversive marketing strategy. Hence one can see that strategic management is in fact necessary for the growth. The report will demonstrate the strategic management perspective in a way to demonstrate the efficiency of various models.
Strategic management in social science includes positioning of the organization in a strategic way. This is used as a key performer in attaining desired objectives (Walters and Rainbird, 2007). The purpose of strategy implementation is to attain goals in a systematic manner. There has been a shift in the way organizations are focusing on attaining long term sustainable goals. The report is based on the role of strategic management in the field of social science. It further describes the effects of various theories and their perspective in the developing business scenario (Mintzberg, 2009).
It is concerned with the eminent effect of method of the external atmosphere. This is necessary to position the business ability and desires according to the organizational capacity. This theory is used to describe the brand position in the market. It is necessary to develop efficient strategies so that the brand can compete with others.
This includes all the information related to the future system at both the corporate and business level. This system promotes choices related for creating system with respect for both the methods. This includes the choice given to an organization to effectively attain business objectives. It is thereby the duty of an individual to frame policies that will be fruitful for an organization.
This specifically guarantees the system and working practice. The strategic actions are necessary to attain desired objectives under the given plan. The purpose of the tool is to impose strategies in order to take definite action (Baker, 2014).
There are various models that are used to consider the efficiency of strategies in term of Social Science disciple. The primary focus is to determine the strategic position by analyzing the external environment. The macro environment factors in the organization can be used to determine the PESTLE factors. They provide wide information about the external factors imposing strong impact on the business. The industry layer helps in understanding the business in an effective manner. The competitive analysis can be done through porter five forces analysis. This is however necessary for an individual to understand the competitive analysis. The model includes components like new entrant’s threat, substitute threat, supplier’s powers, buyer’s power and rivalry threat. These components help in analyzing the market opportunity. The framework is used to analyze amount of competition caused by the external party (Ansoff, 2007).
In order to understand the business life cycle the organization is divided into 5 stags. These stages help in identifying the organizational growth. It is necessary to identify the sustainable competitive advantage left with the company. It is important to derive proper competitive advantages that are necessary to derive proper pricing strategies. In order to meet the competitive strategy it is important to find out one of the most efficient strategy in order to meet the objectives. The BCG Matrix is used to focus upon managing portfolio in order to attract efficient business units (Gregory, 2007).
The implementation of various models at different stages is important in order to attain efficiency. Large size business organizations are specifically working on attaining economies by following efficient strategic practice. The primary focus of strategic management is to implement efficient strategies at work. This is an efficient defense tool that helps business to develop in an effective manner. The composition of business strategies need to be aligned with the organizational goals. It is therefore the responsibility of an individual to develop tools so that they can earn efficient results (Ahlstrand, Lampel and Mintzberg, 2014).
Whittington strategic approach is more sociological than managerial approach. Strategy plays an important role in meeting the goals Systematic approach concentrated in between the selected model that forms a fundamental basis to an organization. The variation of strategies is implemented in terms of the type of business organization they are serving. It has become important to adopt relevant strategy so that the organization can attain desired goals. It is necessary to manage the organizational strategies so that it can cope up with external pressure. The most important part of a strategy is to implement the business strategies in way that it helps in attaining effective market result. It is therefore important to evaluate the strategic evaluation of a model in order to attain efficiencies (Cox, Daspit, McLaughlin, and Jones, 2012).
The main problem of a business is implementation of the strategies in an effective manner. There are certain business organizations that are effectively implementing strategies in the paradigm of the current scenario. This section will focus upon the strategic management model through Tesco as an illustration. Tesco is the major food retail chain in UK. The macro environmental analysis helps in deriving growing needs of the people. The PESTLE & the porter five forces help in analysis the competitive scope and the industrial rivals of the company. The SWOT analysis is one of the effective tools to understand internal factors. The micro environmental analysis tool helps in understanding the strengths and weakness. This way Tesco can analyze threats and can prepare realistic goals. The future goals of an organization can be realized by developing effective strategies. The BCG matrix tool helps in analyzing TESCO’s organizational strengths. The organizational matrix can be analyzed through implementation of efficient model. GE matrix can be used to analyze the business portfolio. Thus it is one of the way through which an organization can attain organizational objectives (Vecchio, 2007).
It is essential for the large sized business organizations to develop effective strategies to meet the organizational goals. Tesco has its major competitor Aldi who is providing goods at discounted rate. Under such a condition it is required to develop efficient competitive strategies in order to succeed. This is however necessary for them to make effective strategies that can help in attaining desired goals. This is necessary for TESCO to develop strengths in order to succeed. It is necessary for every business organization to develop strategic relationship in between the organization and the strategies. The competitive analysis helps in understanding organizational objectives. Tesco needs to develop efficient strategies looking onto the current market situation. This will help them to attain desired objectives in order to earn effective result. TESCO strategy implementation will help them in competing against various local and international competitors. They need to develop competitive edge over the other brands in order to adopt long-term sustainable goals.
Conclusion
To conclude the most effective school looking into today’s competitive Scenario is Mintzberg. The theory is based on modern approach regarding managing an organization. it is necessary to understand the role of strategic management in the changing environment. Few scholars consider that there is no appropriate research happened in the field. Every author is having a different perspective about the importance of strategic management.
The paper discusses various theories and models in the disciple of social science. The effectiveness related to an organizational model depends upon the organizational culture and skills. TESCO is chosen in the report in order to focus upon the business model used by the company. The business model helps in developing coherent strategies in order to attain organized objectives. The report has discussed various theories proposed by authors from time to time. The purpose is to relate the importance of each individual contribution towards organizational development. The organizations can only attain significant goals if they develop strategies in an effective manner. Utilizing these strategies will help the business organization to attain goals by developing concrete objectives. The organization is able to gain advantage only if the business delivers the process and customers. The effective business models help in organizing efficient culture. The effects of implementing a strategic model in business practice are necessary in order to sustain in the market. The report includes proper examples that can be used in order to create a relationship in between the organizational goal and strategies.
References
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