Week 2:
Answer 1
Strategy management
simply means analyzing major initiatives taken by the top level management on
behave of owner including performance in external environment and resources. It
directly specifies the organization mission, objectives and vision, developing
plans and policies, and allocates resources to implement plan and policies. In
other word, it can be defined as the identification of the purpose of the organization and the plans and actions to achieve
the purpose. It is that set of managerial decisions and actions that determine
the long term performance of a business enterprise. It involves formulating and
implementing strategies that will help in aligning the organization and its
environment to achieve organizational goals.(
The
Oxford Dictionary defines strategy as:
a.
A
plan that is intended to achieve a particular purpose: to develop a strategy
for dealing with unemployment. It‘s all part of an overall strategy to gain
promotion. The government‘s economic strategy.
b.
The
process of planning something or putting a plan into operation in a skillful
way: marketing strategy
c.
The
skill of planning the movements of armies in a battle or war; an example of
doing this: military strategy. Defense strategies—compare tactic (Oxford Dictionaries, 2013)
Answer
2
The
similar between business strategy and military strategy are as follow.
a.
Both strategy focus on
full execution and have aim of success and win.
b.
Military leader
continually study a strategy, history of strategy, update and upgrade and
adapting such to a current situation. Whereas this happen similar in top level
management in business.
c.
Based on extensive
experience military strategies include intuition whereas it applies same to
business leader.
d.
The
military saying of ‘Do not give up ground earned because it is too costly to
get it back’. This is similar to business with the importance to keep customers
and market share and how costly and lengthy time to get back if lost to
competition.
The different between
business strategy and military strategy are as follow.
a.
The main difference
between their strategy are in there mission and purpose. The purpose of
business strategy is to increase the interest of stakeholder whereas the
purpose of military strategy is to win a nation’ war (security).
b.
The military structure
is base on vertical it mean senior don’t pass the more responsibility to
junior. Whereas the business structure is base on collaborative and matrix.
c.
The career progression
for military is fix and certain like after few years the post will be upgraded.
But the business world is different .it can’t be easily predicted.
Answer 3
Strategic analysis
Strategic analysis is
the process of viewing what is happening outside the organization now and in
future. Basically it deals with two questions and they are how the current
situation affects us and what would be our response to likely change. It
includes external environment, resources that the organization have and
mission, vision and objectives of the organization.
Strategic development
Strategic developments
are known as strategic planning. It is also a fundamental for creating and
running a business. For example: it’s a game plan that set specific goals and
objectives but like a game plan it is capable of being changed in response to
shifting market dynamics.
Strategic implementation
It’s the process of
translating of specific strategy into action for achievement of the
organization goal. It is also defined as
the manner in which an organization should develop, utilize, and amalgamate
organizational structure, control systems, and culture to follow strategies
that lead to competitive advantage and a better performance
(Case Study)
Answer a
Well I had a very good
experience with case study because at final I came to know the different
strategy used for developing the rural area.
Answer b
The answer I gave to
the question for case study is as follow
a.
They are interlinking
with motorways to London as well as decent train link.
b.
They have advantage of
being near to major cities link Oxford and Cambridge.
c.
In 1980s, Milton
Keynes and Peterborough ran national TV advertising campaigns intended to
attract family and business.
d.
The living expenses
are very low as compare to major cities like London.
e.
Due to enough space to
land they can built anything for development like conduct business, build
roadways and universities etc.
The reason that their
growth strategy be mad are all three town business are complaining that they
are not getting a highly skill degree holder. There is a direct effect on
environment due to construction of road, malls and universities. I think it is
good strategy for development because they are building a roadways, mall and
universities. These will definitely going to increase the living standard of
the people.At this time am not interested to live there because the town lack
of restaurant and bars. And also after workers drive dome at six o’ clock the
town will be like a deserted.
Answer c
It
was not so easy to find the answer for the question because we have to find the
strategy used by them to develop the place.
Answer d
Even
though the answer was different from each other all the member from class mate
was agree with others answer.
Reference
1.
2.
Oxford
Dictionaries,(2013), Strategic Management, (online) www.businessdictionary.com/definition/strategic-management.htm (Accessed on April 8, 2013)
3.
Chaffee,
E. “Three models of strategy”, Academy of Management Review, vol 10, no. 1, 1985.
