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Strategic Management

(15 reviews)

Kennedy B. Reed, Virginia Tech

ISBN 13: 9781949373950

Publisher: Virginia Tech Publishing

Language: English

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Reviewed by Jiwon Suh, Assistant Professor, University of Texas at Arlington on 3/7/24

This book covers core topics that should be included in a strategic management textbook. I particularly like that the book has a chapter devoted to corporate governance, ethics, and social responsibility. I hope to see that vertical and horizontal... read more

Comprehensiveness rating: 4 see less

Content Accuracy rating: 5

This book contains core and major models, concepts, frameworks, and theories that should be included in a strategic management textbook. Especially, this book also explains a balanced scorecard and its linkage with organizational mission and vision.

Relevance/Longevity rating: 5

The main content is highly relevant. The concepts and frames that are included in the book are not fast-changing. This book uses a variety of examples to explain concepts to help students understand. These examples are a good mixture of timing (old and relatively new) and I believe such examples should be aged well to evaluate.

Clarity rating: 5

This book was well-written. This book uses clear language so that students including undergraduates can easily follow.

Consistency rating: 5

This book is consistent with all the structures and contents that are expected in the strategic management textbooks.

Modularity rating: 5

The topics in this book are well divided into 11 chapters so that faculty members can easily develop a semester-long course. On page 2, the authors also provide 6 modules on how these chapters can be used in a shorter course.

Organization/Structure/Flow rating: 5

The way of chapter sequencing is easy to follow: understanding strategic management -> external analysis -> internal analysis -> strategy development -> implementation. Every chapter provides ‘Learning Objectives,’ ‘Key Takeaway,’ and ‘Exercises’ from which students can effectively learn about the topics in the chapters. Also, figures, pictures, videos, and other sources are very helpful.

Interface rating: 4

External sources were hyperlinked with the original sources. This book also provides enough space between paragraphs and the next sections. This helps readers. It would be very helpful if the book included an Index at the end of the book.

Grammatical Errors rating: 5

I didn’t find any grammatical errors.

Cultural Relevance rating: 5

This book uses examples from different cultural backgrounds, such as an example of ancient China and wars on Russian soil on pages 18-20 and an example of Starbucks in Korea on page 33.

I'd like to use this book for my Strategic HR management course in the public and nonprofit sectors. Although this book doesn't 100% fit my course, I can use this book to explain and provide core/major concepts of strategic management.

Reviewed by Sergiy Dmytriyev, Assistant Professor of Management, James Madison University on 9/10/23

Comprehensiveness rating: 5 see less

The textbook covers all key topics in the strategic management such as overall strategy, business- and corporate-level strategies, the analysis of external and internal environments, international strategy, organizational design, innovation, etc. Each sections ends with the reference list of the cited sources, and the Glossary of key terms is provided at the end of the book.

The book is well-written which makes it an easy read.

The content is up-to-date, with plenty of contemporary business situations and examples. At the same time, these examples are of general nature and can be used in a classroom for many years ahead, without become obsolete. Having said that, the textbook also has a number of historical examples which is a must to have in order to learn from strategic successes and failures.

The text is written in a more informal way than in some other strategic management textbook. This makes this textbook better perceived by undergraduate students, who are rather more excited by its interesting and accessible prose.

Consistency rating: 4

The textbook utilized common terminology and frameworks used in the strategic management field, and is consistent throughout the whole text. The only thing, sometimes I could have a feeling that there were many interesting narratives and examples, but some of them might not be well connected among themselves, which could make the reading slightly less coherent, though it wasn't a big deal.

Indeed, the text is readily divisible into smaller reading section since many of them start and end in a similar fashion making them standalone pieces. I didn't find many self-references which serves the modality purpose well.

The book is well organized in terms of the sequence of introduced topics and the transitions between them.

Interface rating: 5

The textbook offers an easy-to-follow navigation structure such as a numeration for each section/subsection as well as consistent headings' styles and the use of colors and graphical designs.

I didn't find any grammatical errors or typos in the text which speaks to its high quality.

Cultural Relevance rating: 3

The textbook is full of various examples from different countries which helps keep the reader's mind open to insights from different cultural environments. Yet, I wish there would be more examples with female and minority managers - I realize that today those groups are still underrepresented in leadership roles, but the author could have considered purposefully selecting those stories/backgrounds which may appeal to and inspire different audiences.

Most sections in the textbook end with discussion questions (often provoking ones) which can help with kicking off interactive discussion in class. The key information is summarized in the form of tables or graphs that make it easy to review the summarized learnings. There are also many videos throughout the book which can help break the monotony of reading with interesting visual experiences.

To sum it up, the textbook offers a typical content for a strategic management textbook (in terms of key strategic topics, terminology, theories and frameworks, etc.), yet it does it in a more appealing way compared to some more "formal" available textbooks in the market. In addition to offering discussion questions and exercises at the end of each section, the textbook also utilizes a more accessible prose for undergraduate students, as well as provides many illustrative or summary tables and graphs, as well as short business stories and videos done in an interesting way.

I really like the textbook and this year I started using it in my Strategic Management course.

Reviewed by Jeffrey Gale, Professor Emeritus of Strategic Management, Loyola Marymount University on 4/10/23

[Note: I used the book in my Strategic Management class in Spring 2023 semester. I have, in the past, used the open textbook, Mastering Strategic Management on which this one is based as well as a commercial version of the text which was picked up by a pubisher.] The coverage in the book is pretty standard for Strategic Management texts. It's a little light on implementation/execution particularly on reward systems, strategic leadership and a bit on culture. Like most of the texts, it really doesn't cover the online world. Because it was done in 2020 and used some of the materials some of the materials need newer examples--and to reflect lessons of the pandemic and de-globalization (in Chap. 9) There is a glossary but no index.

The coverage of the book is accurate in the concepts handled.

Relevance/Longevity rating: 4

All strategic management textbooks suffer from obsolescence--it is the nature of the subject matter and the need for ongoing revision of relevant examples. The concepts change more slowly. Use of the book requires instructors to fill that in to make the material relevant. The prior book (from 2020) was not updated for years which made it hard to use. Hopefully this one will be.

The book was extremely well-written and edited. This is remarkable since there was a team who worked on it at VPI. Kudos for doing a good job.

It is consistent. The framework used is very standard in strategic management texts.

The book is well done with coherent chapters and headings and subheading breaking up the text. I was able to use some of the materials out of order.

Strategic management textbooks lend themselves to a logical organization based on the analytic process common to the topic. This book is consistent with that. I did find that references and credits, which are listed in the chapter sections, are a bit distracting and would be better, in my opinion, at the end of the chapters. Likewise, I would prefer that the Exercises be at the chapter end as well. Learning Objectives at the beginning of each chapter are useful as well as the Takeaways in the sections.

My students and I used the PDF version of the book which is pretty standard with only limited jumps for Table of Contents. .

I didn't find any grammatical errors.

Cultural Relevance rating: 4

I did not see anything culturally insensitive or offensive in the book. There is, as is typical in the texts in the field, not a lot of cultural variety. There are no Black or Hispanic business in the examples.

The book did what I wanted it to in the course. I thought that Chapter 7 on Innovation is a bit of a hodge-podge of topics and doesn't flow all that well. The Powerpoint slides that the author made available are very uneven and I wasn't able to really use them--though I didn't really need to since I have taught the course for so long. They are not the equivalent of what commercial publishers provide with their texts. I did not use the text bank that is also available.

Overall, a good quality textbook that is usable with the caveats I raised earlier.

Reviewed by Stephen Horner, Associate Professor, Allen Community College on 6/9/21

Chapter one is a good an example of the type of comprehensiveness that I like. The text addresses most of the major models and concepts within the strategy domain. It also includes examples of strategy and strategic management from antiquity and classic military history encompassing ancient, modern, and postmodern eras. In addition, the critique of strategic management is refreshing to see in an introductory textbook chapter.

I find no glaring inaccuracies.

The cross disciplinary relevance of the text is demonstrated by allusion in chapter one to strategy throughout history. The text also has relevance in terms of relating the topic to contemporary issues.

This text is written at a basic level easily accessible to the common reader and especially suited to today's college senior.

The text uses the A-F-I framework consistently throughout.

The chapter topics are organized following the traditional analysis-formulation-implementation (A-F-I) framework allowing the course to be easily divided into modules. In addition, the authors have developed their own modular framework overlaying the A-F-I model.

The text uses the traditional analysis-formulation-implementation framework while taking a critical asssessment of the use of that framework.

The layout and flow of the text are satisfactory. In addition, I appreciate the smaller chunks in each chapter supplemented by references cited only in those specific chunks.

The writing demonstrates no systematic grammatical difficulties. The use of the Engish language is proper and acceptable.

The authors recognize changing sociocultural values and demonstrate sensitivity of the theory and practice of strategic management to such changes.

I found the text to be quite readable. It spawned in me new ideas for ways of reaching my students.

Reviewed by Yuan Li, Assistant Professor, James Madison University on 5/29/20

The text covers all major topics discussed in a standard strategic management textbook. Some topics that could be included or discussed more in detail are strategic leadership, innovation management, and corporate entrepreneurship. The pdf version... read more

The content is accurate, error-free, and unbiased. However, there are a few typos in the book. Some of the labels are incorrect. For example, Level 3 of Table 10.4 is labeled incorrectly.

The content is up-to-date. For the most part, the examples are classic and do not need to be updated frequently. However, some of the examples, especially those related to movies are dated. Nevertheless, necessary updates can be easily implemented.

One of my favorite things about this text is its clarity. The text is written in a language that is accessible to all undergraduate students, including freshmen. Jargon and technical terms are explained in layman’s terms using real-world examples.

The text is internally consistent in terms of terminology and framework.

The chapters of the text are self-contained and can be individually assigned to students or used as additional readings to supplement a different text.

The structure of the text is clear and follows the structure of a standard strategic management textbook. The only difference is that international strategies are discussed before corporate-level strategies. Many of the tables and the text repeat each other. I think some of the tables can be eliminated.

There are no significant interface issues in the text. There are no hyperlinks in the pdf version of the book. All navigation is done through the search and find function of the pdf reader. The text in the examples and vignettes is too small and hard to read, at least for the pdf version I have. Overall, I would describe it as a no-frills text.

The text contains no grammatical errors.

The text is not culturally offensive in any way. The examples include both American and non-American firms mostly competing in the US market.

This is a great book for an introductory level strategic management class. Students do not have to be a management major to understand the book. Instructors can easily supplement the book with examples that are relevant to the background and major of their students. I find the book an interesting and enjoyable read. The authors did a great job in making strategic management interesting to students.

Reviewed by David Flanagan, Professor of Management, Western Michigan University on 12/12/19

This book covers all the major topics needed in a strategic management course plus a few other useful topics. read more

This book covers all the major topics needed in a strategic management course plus a few other useful topics.

First rate book. Easy to read with no errors (conceptually or grammatically).

All the conceptual information is up to date. I do have students do assignments where they research more recent examples.

Students comment that it is straight forward and easy to read. Key concepts are defined.

The text flows well from start to finish.

The chapters break up the material well as do sections within chapters.

good structure

easy to interface with

Well edited and credibly written

I detected nothing that could be insensitive

The authors are outstanding in their field. Can't find more credible sources.

Reviewed by Jason Kiley, Assistant Professor, Oklahoma State University on 5/21/18

Overall, the book has very good coverage of the topics typically included in a strategy textbook. To be more specific, I reviewed the book against a commercial book that I have used in the past. I looked at 43 topics that is a union of the content I would use across the two books. The commercial book covered 41 topics, and Mastering Strategic Management ("MSM") covered 39. Of the discrepancies, three topics in the commercial book and one topic in MSM were topics that were probably timely when written but are less relevant now. Excluding those, each book had one topic that I would have liked to have seen in the other.

Across a number of topics, the exposition that fit my expectations about the material covered, explanations of the material, and examples that fit the material. Strategy covers a number of models that have been around for some time, and the authors seemed to do a good job of thinking about which models are reasonable to describe as they were conceived and which ones should be adjusted a bit to better reflect the underlying mechanisms or modern circumstances.

One small exception (shared in most strategy books) is the description of the BCG matrix using market share (as originally conceived). That notion is very sensitive to specification of markets, and I've seen more helpful formulations that describe it a little more generally as having dimensions that reflect using and generating cash.

The main content is fine and highly relevant. However, there are some examples which have not aged well. This is not so much the fault of the authors, as the business-relevant content is fine, but an example using Jared from Subway reads very differently in light of subsequent revelations. That is perhaps the most glaring, but there are a few others that have not aged well (e.g., the AppleTV has become reasonably successful in subsequent iterations). That said, this book is well within the norms of example relevance over time.

The book is written directly and clearly. In terms of style, it is more approachable than some alternatives, in part because I never got the sense that the authors were lowering the information density to produce more text.

Terminology and approach are generally consistent. Strategy is at the intersection of other disciplines, so there is often a change of perspective, but that comes with the content. That said, the authors have combined those well into a logical, consistent narrative.

For the most part, this book would be easy to use out of order or as selections. The chapters have numbered subdivisions that are logically coherent, and, in my view, it would be clear to students to assign selections. My initial read suggests that the brief motivating examples to begin chapters and the conclusions of chapters would be helpful to include even if the middle sections are selected from or reordered.

Overall, the organization and flow are consistent and logical, and it generally mirrors that of most strategy books. In a couple of places, the ordering is a bit different (e.g., international strategy before corporate-level strategy), but the broader logic may actually be more linear that way.

I used the epub 3 version of the book. The table elements tended to be built with markup instead of images, so they rendered nicely on a high-resolution display. Cross references were often done with links, and many text boxes were also done with markup, so the book takes advantage of the technology it uses for distribution. Given the prevalence of mobile devices among students, this is a strong positive for this book compared to others.

The writing is clear, error-free, and straightforward, including the consistent use of active voice.

Though the book (like many strategy and business textbooks) has a somewhat US-centric presentation, there are plenty of examples that include diversity along a number of dimensions where that kind of diversity is not the topic of the example. That broad level of inclusiveness is a positive for the book.

Overall, I found the book to be consistently high in quality, coverage, and consistency with other books in this area. Using it as an alternative or replacement for other books should be straightforward. The anonymous authors have done the field and our students a real service in writing this book.

Reviewed by Jiyun Wu, Associate Professor , Rhode Island College on 5/21/18

The book covers key areas of strategic management, much like other strategic management textbooks. read more

The book covers key areas of strategic management, much like other strategic management textbooks.

The content is accurate, though there are a few typos.

Relevance/Longevity rating: 3

The examples are a few years old and need to be updated.

The book is very lucidly written. I think it is one of the best written textbooks.

The book is internally consistent in terms of terminology and framework.

The text is easy to follow.

The topics are organized well and easy to follow.

I didn't encounter any problem with navigation.

I did not detect any grammar errors, although I did find a few typos.

The book is culturally relevant.

Please update the examples and correct the few typos in the text.

Reviewed by Edward Ward, Professor, Saint Cloud State University on 2/1/18

Relative to the other textbooks I have used in my strategic management course, this textbook is comprehensive. Topics include analyzing the environment, leading strategically, selection of business level strategies, ethics, organization design,... read more

This book is accurate as evidenced by the frequent references from both research journals and practitioners' publications. There is little in the way of the author's opinions, rather facts are emphasized.

The relevance of the book is excellent in that historical examples are often used, which by definition will not need to be updated. The examples of recent strategy uses (e.g. a goal by Coca-Cola on page 40 is for 2012) are in need of only slight modifications.

This is the paramount strength of the book. When the vocabulary (i.e. jargon) of strategic management is used, facile explanations and examples are used to clarify the term. An example is Figure 2.5, which explains financial performance measures for students who did not major in finance or accounting.

What is admirable as to the book's consistency is it's sequence of chapters, such as starting with "Mastering Strategy" as chapter one, through "Selecting Business Level Strategies" in the middle of the text, and concluding with corporate governance and ethics. There is also consistency in terms of the key takeaways and exercises throughout the book.

This is another strength of the book. For example, in clarifying "Entrepreneurial Orientation" sections such as "Autonomy", "Competitive Aggressiveness", and "Innovativeness" are presented in small sections that in total describe the term. This is done consistently in the book, such as in chapter eight the terms vertical integration, backward vertical integration, and forward vertical integration.

The topics are presented in a deductive order, starting with a superordinate term such as "Strategies for Getting Smaller", followed by retrenchment and restructuring. By describing a construct by its dimensions, the construct is more readily understood by students.

I don't think there are any such problems.

There are not any grammatical errors. I do think the reading level is for undergraduates rather than MBA students.

The photographs and examples are varied in terms of surface characteristics.

It is superior to my present textbook in terms of being written in a conversational style, which is complemented by useful tables such as 8.7 on page 293. These tables and other graphics will assist students with a visual learning style. The only negative that comes to mind is if this textbook is to be used for a MBA course, outside readings will need to be assigned.

Reviewed by Jorge Zazueta, Adjunct Professor, American University on 2/1/18

The book covers all the standard topics in Strategic Management in a well-structured and cohesive manner. The table of contents provides detail on contents and the interactive PDF version is an excellent way to navigate the text. Electronic... read more

I didn't find any inaccuracies or biases in the text (although I ran into a few minor typos). Each concept follows a critical discussion inviting the reader to reflect on the topic, rather than being dogmatic.

The topics covered are well established Strategic Management ideas with direct application in actual business practice, making the content both relevant and time enduring.

Clarity rating: 4

The book is clearly written and enjoyable. It provides straight commentary on the ideas discussed and is very easy to read. A minor drawback is that it lacks memorable design around many of the classic frameworks. For example, when discussing the diamond model in chapter 7, its elements are defined in the form of a table--rather than in a diamond shape.

The narrative is consistent throughout both in depth and style.

While the content follows a logical path, chapters are concise and mostly stand-alone, making it easy to use individual chapters or to tailor content for a class.

The topics follow a standard order of ideas in a consistent and logical flow, while maintaining modularity.

The interactive PDF version is clean and easy to use. A comprehensive table of contents is always available without being intrusive and the book is fully searchable. Making it convenient for student research or review. A keyword search results in a list of references to different chapters in the book, with a short summary of the content discussed.

Grammatical Errors rating: 4

Other than a few minor spelling typos. I found no errors.

The nature of the book is mostly transparent to cultural issues. Examples are business focused and do reflect a wide world view.

It is a great introductory text to Strategic Management. It covers all the standard material in a concise, easily accessible way. I would have enjoyed a bit more quantitative material, such as basic formulas from economics or discussions about how to quantify market competitiveness for example. Perhaps, that´s the material for a second book….

Reviewed by Bill Rossman, Instructor, Penn State University on 2/1/18

The book covers the major topics expected to be covered in a strategic management textbook. read more

The book covers the major topics expected to be covered in a strategic management textbook.

The material covered in the textbook is accurate and error-free.

Th material is up-to-date, however, some of the examples in the book could quickly become outdated. For example, there is an example referencing a 2001 movie which students may not understand. The book could easily be updated to keep examples up-to-date.

The book is clearly written without unnecessary jargon. Definitions for key terms could be emphasized to help students identify key terms and concepts. Additionally a glossary would be beneficial for students to quickly reverence the definition of key terms.

The book is consistent with other texts on the topic of strategic management.

The book is modular and chapters could be reorganized without issue. Instructors could assign chapters or subsections as they see fit without loss of educational value.

The book flowed well, the only change I would make is to move the corporate-level strategies to follow the business-level strategies. The instructor could easily make this change when assigning chapters in the textbook.

I did not encounter any issues with the interface of the textbook. The location of charts and images were appropriate and supported the material.

The book was free of grammatical errors.

The text was not insensitive or offensive.

Supporting material such as glossary, online assignments or self check exercises could be included. Overall, the book is well thought out and easily adaptable for instructors to use.

Reviewed by Sam Cappel, Professor, Southeastern Louisiana University on 6/20/17

I found the book to be comprehensive, covering in detail important parts of strategic management. read more

I found the book to be comprehensive, covering in detail important parts of strategic management.

I found the book to be accurate and well referenced. Examples were used which were most instrumental in helping students to understand important concepts.

The text is written and/or arranged in such a way that necessary updates will be relatively easy and straightforward to implement. Many of the examples used are classic or very timely. It would require little work to update concepts and examples.

The book is written without unnecessary jargon. Terms commonly used in the study of Strategy are fully explained.

The framework of the book allows for easy transitions from one topic to another. Throughout the book there is consistency in the straight forward approach to topics. There is a consistent attempt within this book to explain complex concepts in such a way as to allow undergraduate students to master them easily.

Modularity rating: 4

The text is well divided into a logical sequence of intuitively developed reading sections. Sections within the book serve to reduce confusion which can occur when learning a subject area with the diversity and complexity of Business Strategy

Organization/Structure/Flow rating: 4

I like the flow of the text but prefer a flow which started by simply following the strategic management process step by step.

I had no issues with the interface of the textbook. Navigation was simple and charts were well placed and clear.

I found no grammatical errors i the text.

Culturally the book was sensitive in dealing with issues such as ethics and the role of diversity in the workplace.

With the current push for on-line offerings I feel that it is now imperative that offerings include test banks, power-points, on-line readings, films and perhaps simulation tools that can be used on-line. I love the book for in-class use but feels that it does not offer enough support to be viable for extensive on-line offerings,

Reviewed by Cynthia Steutermann, Multi-Term Lecturer, University of Kansas on 8/21/16

Comprehensiveness rating: 3 see less

This book does a somewhat good job of covering many aspects of strategic analysis. For instance, the discussions relative to cost leadership, differentiation, and focused strategies were good. However, I found this book to be lacking in critical discussion areas, such as the importance of evaluating a firm's internal financial assets. While it mentioned current ratio, debt to equity ratio, and net income .. it does not show how to calculate those ratios. And, there are many, many more financial ratios that should be covered in great detail to effectively analyze an organization's internal financial capabilities. This was an area I would consider to be seriously lacking in content.

Other critical areas missing from this textbook were the discussion of entrepreneurial strategy and competitive dynamics, as well as managing innovation and corporate entrepreneurship. Likewise, this textbook did not include any strategic management cases which greatly supports a student's ability to apply concepts to a multi-page case of an organization they may be familiar with.

Also, while there was included on the website a table of contents, no such table of contents exists in the .pdf version that students would actually use. In general, this book is not written at the level of sophistication and comprehensiveness I would expect to use for college students, particularly since a strategic analysis course is often taught as a capstone course (undergraduate senior level of student). In my opinion, this textbook is written more at the senior in high school or college freshman level.

Content Accuracy rating: 4

The book's accuracy is adequate, although there are many areas of strategic analysis which I would consider to be missing in this textbook.

The one area of relevance and longevity I found to be questionable was the various references to "At the Movies". Some of the movies are quite dated and students may not have even heard of them. Or, if they have heard of the movie, they may not have seen it. While the intent seems to be a creative way to illustrate basic concepts, the use of movies is not (in my opinion) the most relevant way to accomplish this, at least to the extent that this is repeated throughout the textbook.

The book is written clearly, although not at the college reading level I would expect it to be written at.

Consistency rating: 3

The text is inconsistent since it references certain figures that actually do not exist. For instance, the Boston Consulting Group (BCG) matrix is referenced to be in figure 8.7. There is no BCG matrix figure, nor any figure 8.7. In fact, there are very few figures in the book. There are some pictures (unidentified mostly) but no figures that illustrate important concepts.

The book's modularity is done well. Within each chapter there are several smaller reading sections.

The book's organization/structure flow is generally good. I believe the organization and flow would be better if corporate-level strategies followed business-level strategy, and then the chapter about international markets would follow after that. This textbook, instead, has business-level strategy, international markets, then corporate-level strategy.

The images are generally not distorted, although on page 172 the Arby's graphic and text are out of proportion. Page 177 includes some type of graphic that is only shades of grey. I don't know what that is intended to represent.

The text contains no grammatical errors that I observed.

The text is not culturally insensitive or offensive in any way that I observed.

Reviewed by Daniel Forbes, Associate Professor, U. of Minnesota on 6/10/15

The book covers most of the chapters commonly found in a strategy textbook, and the content within each chapter is also similar in terms of the key topics & models addressed. One exception is strategic entrepreneurship, which is not covered as a separate chapter as is often the case but is instead partially covered under "Entrepreneurial orientation" within Chapter 2, "Leading strategically". Another exception is that there is only one chapter on corporate strategy, whereas many books have a second chapter on strategy alternatives (M&A, etc.). However, some of this content has been folded into the corporate strategy chapter. The PDF I reviewed did not contain a glossary or index.

The book provides an accurate introduction to contemporary strategic management. The authors' perspective is consistent with mainstream scholarly views in the field.

Most strategy textbooks tend to gravitate towards concepts and models that have a relatively long "shelf life," and this one is no exception. The book contains current examples and timely content. The book also does a good job presenting strategy in ways that undergraduate students, in particular, will find relevant. It does this through an emphasis on familiar, everyday brands (Facebook, Redbox) and through cultural references, such as its "Strategy at the movies" segments, which link concepts in the book to recent popular films.

The book is written in clear and accessible prose, and it carries a sense of humor. At times I would have liked to see clearer definitions that were easier to find in the text (e.g., highlighted or placed in sidebars). For example, the concept of "cost leadership" is introduced with good examples, but a concise definition seems lacking. Having clear definitions on key concepts is helpful to students studying for exams and for faculty who want to check concepts for consistency across materials without re-reading entire sections.

The book is internally consistent. It provides a framework for understanding strategy that is coherent and, at the same time, generally consistent with other major texts.

The text seems modular, and reorganizing the material is unlikely to pose a problem. It would be easy to rearrange the materials within a strategy course - provided, of course, that foundational concepts (e.g., "capabilities") have been established early on, as would be required in working with any major strategy text.

The book's flow is logical and it adheres to a structure that is common in strategy texts. One slightly unusual sequencing is the presentation of international strategy before corporate strategy (the reverse is more common), but these two chapters remain adjacent and there is a reasonable case for doing this. Given the overall modularity of the book, moreover, instructors can rearrange chapters as they see fit without much difficulty.

The interface reflects the thoughtful and creative selection of accompanying visual materials, especially photos and illustrations. There are fewer charts and tables than in the average strategy text. Some instructors and MBA students might find the text easier to navigate with fewer visual interruptions overall and perhaps more data or charts included in addition to the pictures. Overall, I think this interface that would be well received by undergraduate students, in particular.

The book's grammar is fine.

The book does not appear to be culturally insensitive. Examples are drawn primarily from the U.S., as is common in many major strategy texts, but there are also many examples drawn from outside the U.S.

Overall, I think this book is a very solid and worthwhile contribution to the set of available strategy textbooks. A particular strength of the book is its accessible writing style and its selection of "user-friendly" illustrations and examples. I think the book would be especially well-suited to first-time students of strategy who seek a general introduction. I also like that the book avoids delivering long, arbitrary lists of items in presenting material (e.g., "the nine reasons firms do acquisitions"), which is a common weakness of strategy textbooks. Instead, this book is generally succinct and reasonably comprehensive. At the same time, instructors & students seeking a more advanced treatment of strategy may find coverage of some topics to be relatively light. For example, limitations of the 5 Forces model are only briefly addressed and issues of industry evolution do not seem to be addressed.

Reviewed by David Try Ph.D., Instructor , Northwest Community College on 10/9/13

I found this text to be well-written and high quality, with up-to-date material, examples and case studies. In my experience, both as an instructor and retired practitioner, this textbook covers all basic concepts and topics at an appropriate depth for an Introduction to Business Strategy/Policy course. The backend - index, glossary, on-screen reader and search engine - were accurate and faultless.

Diagrams, tables and case studies were up-to-date, professional quality and accurate. I found the text well supported by the supplemental teaching resources (quizzes, PowerPoint's, teaching notes, etc.) As with any USA based textbook, and to be fair hardly unique to this one, the content is USA-centric. Examples and in-text case studies do tend to examine issues through the lens of USA companies, and occasionally USA laws/regulations. Within this caveat, all material was well-edited, error-free, unbiased and including appropriate supplemental instructor material.

As with most introductory courses, the basic components of Business Strategy tend not to change rapidly. New tools, techniques, occasionally fads, as well as the inevitable rebranding (i.e. Management by Objectives [MBO] becomes Outcome Based Key Performance Indicators) are adopted by Business relatively slowly. The textbook covers certain recent advances in strategic and policy, as appropriate for a textbook at an introductory level. Looking forward, advances to this textbook would tend to focus on maintaining current and timeliness of in-text examples, update trends and data, and incorporate emergent strategies which could emerge in response to changing economic, business or global events, such as a global recession.

The textbook to be quite readable and engaging, and makes good use of current business examples. Terms and business jargon are properly defined, both within the text and by using small ‘call-out' (?) boxes on the side of pages and through the use of examples.

The concepts and ideas in the textbook are presented in a clear and logical order. Terminology is used consistently. As well, I found the ‘readability' of the textbook to be internally consistent – with no sense that different authors/editors had writte

The material is covered in 12 chapters, with 2 to 4 sections each, making it easy to assign weekly readings and cover the content within one semester. Chapters are fairly consistent in length and complexity. Instructors have the option to re-organize the course / subject order prior to students downloading the textbook should they wish. The text is not overly self-referential.

The flow or order of idea/concept presentation is consistent to most Strategy texts, and appropriate for an introductory textbook. Within Chapter layout is consistent; each chapter begins with "Learning Outcomes" and concludes with "Key Takeaways" and exercises, which can be assigned as homework.

Neither I, nor any of my students, experienced any interface issues at all. The underlying technology appeared faultless. The navigation process is logical and all images and text were clear and high quality, even on smaller e-reading devices. As well, color use is consistent, assisting in overall navigation. Interestingly, as the first e-textbook for NWCC Business, my students appreciated the ability to perform in-text searches and hyper-link to external electronic references (in text URLs), as well as textbook's cost of course!

I found zero (0) grammatical errors, or ‘broken' URL links. Well edited

This text is not culturally or sexually insensitive, or offensive. Overall, examples are based on business culture with limited applicability on cultural relevance. One chapter focuses on Ethics and Social Responsibility and examines these issues from a strategic perspective, with examples. However, the focus is principally from a business perspective, as compared to social, legal or moral perspectives. As the text is fairly USA-centric, Canadian students may feel that Canadian and possibly Asian business strategies should receive greater emphasis.

Overall, I was very impressed with the quality and professionalism of the text. A ‘newbie' to e-textbooks, I was surprised by the usefulness of additional features available with electronic textbooks (searching, imbedded URLs, etc.). As noted above, the textbook content is somewhat USA-centric. Examples and in-text case studies tend to focus on USA companies, and occasionally USA laws/regulations. However, given the highly integrated nature of Canadian and USA business environments, there is some value in this. And, it was certainly not difficult to incorporate Canadian examples into the Lectures. This review originated in the BC Open Textbook Collection and is licensed under CC BY-ND.

I. Chapter 1: Mastering Strategy: Art and Science
II. Chapter 2: Assessing Organizational Performance
III. Chapter 3: Evaluating the External Environment
IV. Chapter 4: Evaluating the Internal Environment
V. Chapter 5: Synthesis of Strategic Issues and Analysis
VI. Chapter 6: Selecting Business-Level Strategies
VII. Chapter 7: Innovation Strategies
VIII. Chapter 8: Selecting Corporate-Level Strategies
IX. Chapter 9: Competing in International Markets
X. Chapter 10: Executing Strategy through Organizational Design
XI. Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Ancillary Material

Virginia Tech Publishing

About the Book

STRATEGIC MANAGEMENT offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies. Students will learn how to conduct a case analysis, measure organizational performance, and conduct external and internal analyses. In short, they will understand how organizations operate at the strategic level to be successful.

An older version of Mastering Strategic Management (2015) by University of Minnesota Libraries Publishing can be found here: https://open.lib.umn.edu/strategicmanagement/

About the Contributors

Reed B. Kennedy, Associate Professor of Practice, Pamplin College of Business, Virginia Tech

Reed B. Kennedy is an Associate Professor of Management Practice in the Management Department, where he teaches management courses. He began his career as a naval officer before entering his primary career in healthcare administration, where he served in senior executive roles in various hospitals for over 20 years. He then worked as a business consultant for the Small Business Development Center for the New River Valley at Radford University. His education includes a Bachelor of Science in Aerospace Engineering from the U.S. Naval Academy, a Masters of Healthcare Administration from Medical College of Virginia / Virginia Commonwealth University, a Masters in Public Health and a Graduate Certificate in Global Planning and International Development from Virginia Tech. Reed served as the chief textbook reviser on this project. He worked with the contributor and editorial teams from project start to completion.

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1.7 Conclusion

This chapter provides an overview of strategic management and strategy. Ideas about strategy span many centuries, and modern understanding of strategy borrows from ancient strategies as well as classic military strategies. You should now understand that there are numerous ways to conceptualize the idea of strategy, and that effective strategic management is needed to ensure the long-term success of firms. The study of strategic management provides tools to effectively manage organizations, but it also involves the art of knowing how and when to apply creative thinking. Knowledge of both the art and the science of strategic management is needed to help guide organizations as their strategies emerge and evolve over time. Such tools will also help you effectively chart a course for your career as well as to understand the effective strategic management of the organizations for which you will work.

Think about the best and worst companies you know. What is extraordinary (or extraordinarily bad) about these firms? Are their strategies clear and focused or difficult to define?
If you were to write a “key takeaway” section for this chapter, what would you include as the material you found most interesting?

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Strategic Management Assignments (10 Best Writing Steps)

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Table of Contents

I. Introduction

II. Understanding Strategic Management Assignments

III. Significance of Assignments in Learning Strategic Management

IV. Types of Strategic Management Assignments

V. Crafting an Effective Strategic Management Assignments

VI. Common Challenges in Strategic Management Assignments

VII. Tips for Successful Completion

VIII. Balancing Innovation and Tradition in Strategic Assignments

IX. Assessing Success in Strategic Management Assignments

X. Conclusion

A. Importance of Strategic Management Assignments

assignment on strategic management of a company

Strategic Management Assignments play a pivotal role in shaping the future leaders of organizations. These assignments serve as a crucial bridge between theoretical knowledge and real-world application, requiring students to analyze complex business scenarios and make informed decisions. By engaging in tasks such as case studies, research papers, and simulation exercises, students develop essential skills in critical thinking, problem-solving, and strategic planning.

The practical application of strategic management concepts through assignments ensures that learners not only grasp theoretical frameworks but also cultivate the ability to navigate the dynamic challenges of the business landscape. As a result, these assignments contribute significantly to the holistic development of individuals, preparing them to excel in strategic decision-making roles within diverse industries.

B. Overview of the Article's Focus

The focus of this article revolves around the comprehensive exploration of Strategic Management Assignments. Providing an insightful overview, the article delves into the significance, types, and crafting of these assignments. It sheds light on their crucial role in bridging theoretical knowledge with practical application, emphasizing the skills developed through case studies, research papers, and simulation exercises.

With a strong emphasis on successful completion, the article addresses common challenges, offers practical tips, and provides a roadmap for students to navigate the intricate landscape of strategic management assignments. Through this overview, readers will gain a nuanced understanding of the importance and intricacies involved in these assignments, setting the stage for a deeper exploration in the subsequent sections of the article.

A. Definition and Purpose

In the realm of academia and business education, Strategic Management Assignments form a crucial facet, embodying the essence of decision-making power and foresighted planning. The term "strategic management" refers to the comprehensive analysis, formulation, and implementation of organizational goals and initiatives with the aim of achieving sustained competitive advantage.

The purpose of these assignments is twofold: firstly, to equip students with a profound understanding of strategic concepts, frameworks, and tools; and secondly, to cultivate the ability to apply this knowledge to real-world situations. These assignments challenge individuals to scrutinize and synthesize information, fostering critical thinking and honing the skills necessary for effective leadership. In essence, they serve as a bridge between theoretical knowledge and practical application, preparing future professionals to navigate the complexities of strategic decision-making in the dynamic business environment.

B. Key Components and Frameworks

Strategic Management Assignments are structured around key components and frameworks that serve as the backbone for effective decision-making in organizational contexts. One fundamental element is the SWOT Analysis , which assesses internal Strengths and Weaknesses along with external Opportunities and Threats. This provides a holistic view for strategic planning.

Another pivotal framework is the PESTEL Analysis, evaluating Political, Economic, Social, Technological, Environmental, and Legal factors influencing strategic decisions. Additionally, these assignments often delve into Porter's Five Forces model, examining the competitive forces within an industry. Understanding these key components and frameworks empowers students to dissect complex business scenarios systematically, laying the groundwork for informed and strategic decision-making in the ever-evolving business landscape.

1. SWOT Analysis

In the realm of Strategic Management Assignments, the SWOT Analysis stands out as a cornerstone framework, providing a structured approach to assess internal and external factors influencing an organization. SWOT, an acronym for Strengths, Weaknesses, Opportunities, and Threats, serves as a powerful diagnostic tool. It requires a thorough examination of an organization's internal strengths and weaknesses, such as resources, capabilities, and limitations.

Simultaneously, it explores external factors, identifying potential opportunities for growth and threats to the organization's well-being. The SWOT Analysis enables a comprehensive understanding of the current strategic position, aiding in the formulation of strategies that leverage strengths, address weaknesses, capitalize on opportunities, and mitigate threats. This framework is integral to Strategic Management Assignments, fostering a strategic mindset and laying the groundwork for effective decision-making in complex business scenarios.

2. PESTEL Analysis

Within the framework of Strategic Management Assignments, the PESTEL Analysis is a pivotal component, offering a systematic examination of external factors that can influence an organization's strategic decisions. PESTEL, an acronym for Political, Economic, Social, Technological, Environmental, and Legal factors, provides a comprehensive lens through which to view the external business environment. Political factors consider the impact of government policies and regulations, while Economic factors assess economic conditions and trends.

Social factors delve into cultural and societal influences, and Technological factors evaluate the role of technology in the industry. Environmental and Legal factors scrutinize ecological concerns and legal considerations, respectively. The PESTEL Analysis, by exploring these facets, equips individuals with insights crucial for strategic planning, helping them anticipate and adapt to the dynamic external forces shaping the business landscape. In the context of assignments, mastering the PESTEL framework enhances students' analytical skills and strategic thinking, preparing them for effective decision-making in the ever-evolving business world.

3. Porter's Five Forces

Porter's Five Forces is a crucial framework within the realm of Strategic Management Assignments, providing a structured analysis of the competitive forces that shape an industry. Named after Michael E. Porter, this framework assesses the dynamics within the market, considering the threat of new entrants, bargaining power of buyers and suppliers, the threat of substitute products or services, and the intensity of competitive rivalry.

Through this lens, students engaging in Strategic Management Assignments gain valuable insights into the industry's competitive landscape. By evaluating these forces, they can identify strategic opportunities, understand potential risks, and formulate effective strategies that enhance an organization's competitiveness and resilience in a dynamic business environment.

C. Role of Strategic Management in Organizations

The role of Strategic Management in organizations is pivotal, serving as the compass that guides the direction, growth, and overall success of a business. At its core, Strategic Management involves the formulation and implementation of strategies to achieve organizational objectives and maintain a competitive advantage. This process encompasses a variety of activities, including setting goals, analyzing internal and external environments, making informed decisions, and adapting to changes in the business landscape.

Strategic Management acts as the cohesive force that aligns the organization's resources, capabilities, and activities towards a common purpose. It fosters a proactive mindset, allowing organizations to anticipate challenges, capitalize on opportunities, and navigate uncertainties. In essence, Strategic Management in organizations is not merely a theoretical exercise but a dynamic and ongoing process that empowers entities to thrive in today's ever-changing and competitive business environment.

A. Practical Application of Theoretical Concepts

The significance of Strategic Management Assignments in learning lies in their ability to bridge the gap between theoretical concepts and practical application. These assignments offer students a tangible platform to apply abstract strategic theories to real-world scenarios. By engaging in tasks such as case studies and simulation exercises, learners not only understand strategic frameworks but also cultivate the skills needed for practical decision-making.

This hands-on approach ensures that theoretical knowledge is not just absorbed but actively implemented, fostering a deeper understanding of strategic principles and preparing students for the challenges of strategic management in professional settings. In essence, the practical application of theoretical concepts through assignments enhances the learning experience, making it more dynamic, relevant, and conducive to developing the strategic thinking required in today's complex business landscape.

B. Skill Development in Critical Thinking and Decision-Making

The significance of Strategic Management Assignments in learning extends beyond theoretical comprehension to the crucial realm of skill development, particularly in critical thinking and decision-making. These assignments challenge students to analyze complex business scenarios, evaluate strategic options, and make informed decisions based on available data.

The process encourages the cultivation of analytical skills, the ability to assess risks, and the aptitude for strategic problem-solving. As students grapple with real-world challenges presented in assignments, they hone their critical thinking abilities, learning to navigate uncertainties and make sound decisions in dynamic business environments. Ultimately, the significance lies in equipping learners with practical skills that are invaluable not only in academic settings but also in their future roles as strategic decision-makers in the professional world.

C. Enhancing Analytical and Research Abilities

The significance of Strategic Management Assignments in learning is underscored by their role in enhancing analytical and research abilities. These assignments require students to delve into in-depth analyses of industries, companies, and market trends. By conducting thorough research, students learn to extract relevant information, interpret data, and draw meaningful conclusions.

Engaging in such analytical processes not only strengthens their research skills but also hones their ability to critically evaluate and synthesize complex information. As a result, Strategic Management Assignments contribute significantly to the development of students' analytical prowess, providing them with valuable tools for dissecting business challenges and making well-informed strategic decisions in their academic and future professional endeavors.

A. Case Studies

Case studies represent a fundamental category among the various types of Strategic Management Assignments. These assignments immerse students in real-world business scenarios, requiring them to apply strategic management concepts to analyze, interpret, and solve complex problems. Through case studies, students gain practical insights into the challenges faced by organizations and develop the ability to formulate strategic solutions.

This type of assignment encourages a holistic understanding of strategic management principles by bridging theoretical knowledge with practical application. Engaging with case studies not only deepens students' comprehension of strategic frameworks but also cultivates critical thinking and decision-making skills, making it an essential component in preparing individuals for the dynamic and multifaceted challenges of strategic management in the professional arena.

1. Analyzing Real-world Scenarios

Case studies, a crucial type of Strategic Management Assignment, immerse students in the dynamic realm of real-world business scenarios. In these assignments, students delve into authentic situations, analyzing the intricacies of organizations facing strategic challenges. By dissecting these cases, students not only apply theoretical concepts but also develop a nuanced understanding of how strategic decisions impact the success or failure of businesses.

The emphasis on analyzing real-world scenarios enhances practical knowledge and sharpens critical thinking skills. Case studies, as a strategic management assignment type, serve as a bridge between theory and application, preparing students to navigate the complexities of strategic decision-making in the professional landscape.

2. Extracting Lessons for Decision-Making

Strategic Management Assignments, particularly those focused on case studies, go beyond theoretical exploration to the practical realm of extracting lessons for decision-making. In these assignments, students are tasked with not only understanding the intricacies of real-world scenarios but also distilling valuable insights that can inform strategic decisions.

By extracting lessons from the experiences of organizations facing challenges, students gain a practical understanding of how strategic choices impact outcomes. This emphasis on drawing applicable lessons enhances decision-making skills, enabling students to navigate future challenges with a well-informed and strategic mindset. Thus, these assignments serve as a crucial training ground, preparing individuals to make effective decisions in the ever-evolving landscape of strategic management.

B. Research Papers

Research papers stand as a prominent category among the diverse types of Strategic Management Assignments. These assignments require students to delve deep into academic and industry literature, conducting extensive research on specific strategic management topics. By synthesizing information from various sources, students not only demonstrate a comprehensive understanding of theoretical frameworks but also contribute to the existing body of knowledge in the field.

Research papers foster the development of critical analysis, synthesis, and presentation skills, as students must articulate their findings in a clear and coherent manner. Through this assignment type, students not only engage with strategic theories but also actively contribute to the discourse, preparing them for the rigors of strategic decision-making in academic and professional contexts.

1. In-depth Exploration of Strategic Concepts

Strategic Management Assignments, particularly those centered on research papers, facilitate an in-depth exploration of strategic concepts. These assignments go beyond surface-level understanding, requiring students to delve deeply into the core principles and theories of strategic management. By conducting thorough research and analysis, students gain a nuanced comprehension of strategic frameworks, contributing to a more profound mastery of the subject.

In exploring strategic concepts in depth, students not only enhance their theoretical knowledge but also develop the analytical skills needed to navigate the complexities of strategic decision-making. This type of assignment serves as a valuable platform for students to deepen their understanding of strategic concepts and prepares them for applying this knowledge in real-world scenarios as future strategic leaders.

2. Demonstrating Comprehensive Understanding

Strategic Management Assignments, specifically those involving research papers, play a pivotal role in demonstrating a comprehensive understanding of strategic concepts. These assignments necessitate a thorough exploration of theoretical frameworks, requiring students to delve deeply into the intricate facets of strategic management.

By synthesizing information from various sources, students showcase their grasp of key concepts, industry trends, and academic perspectives. The emphasis is not merely on rote learning but on the ability to critically analyze, interpret, and present information cohesively. Through these assignments, students not only demonstrate their academic prowess but also cultivate the skills needed to apply comprehensive understanding in real-world strategic scenarios, preparing them for leadership roles in diverse organizational settings.

C. Simulation Exercises

Simulation exercises represent a dynamic category within the spectrum of Strategic Management Assignments. Unlike traditional theoretical assessments, these assignments immerse students in virtual environments that replicate real-world business scenarios. Through simulations, students engage in decision-making processes, allowing them to witness the direct impact of their strategic choices on simulated businesses.

This hands-on approach not only reinforces theoretical concepts but also fosters a practical understanding of how different variables interact in a business context. Simulation exercises enhance critical thinking, strategic planning, and adaptability, providing students with a valuable experiential learning opportunity. By actively participating in the decision-making process, students gain insights into the complexities of strategic management, preparing them to navigate the uncertainties and challenges they may encounter in future professional roles.

1. Virtual Application of Strategic Management Principles

Strategic Management Assignments, particularly those involving simulation exercises, offer students a unique opportunity for the virtual application of strategic management principles. These assignments go beyond theoretical frameworks, immersing students in simulated business scenarios where they can actively implement strategic decisions. By navigating these virtual environments, students gain practical insights into the consequences of their choices on organizational performance.

This hands-on experience not only reinforces theoretical concepts but also cultivates a deeper understanding of strategic principles in action. Virtual applications of strategic management principles through assignments provide a dynamic and engaging way for students to bridge the gap between theory and practice, preparing them for the complexities of strategic decision-making in the ever-evolving business landscape.

2. Learning in a Risk-Free Environment

Strategic Management Assignments, especially those involving simulation exercises, create a valuable opportunity for learning in a risk-free environment. Unlike real-world business decisions that carry tangible consequences, these assignments allow students to experiment with various strategic approaches without actual financial or operational risks.

By engaging in simulated scenarios, students can test different strategies, analyze outcomes, and learn from both successes and failures without impacting real organizations. This risk-free learning environment encourages creativity, innovation, and a willingness to explore unconventional solutions, fostering a dynamic and proactive mindset in students. This type of assignment not only enhances theoretical knowledge but also provides a safe space for students to develop the practical skills crucial for effective strategic decision-making in the professional world.

A. Research and Information Gathering

Crafting an effective Strategic Management Assignments begins with a meticulous approach to research and information gathering. This foundational step involves sourcing relevant and reliable data from various academic journals, industry reports, and other reputable outlets. Students must delve into the complexities of their chosen strategic topic, ensuring a comprehensive understanding of current trends, challenges, and potential solutions.

Effective research not only substantiates arguments but also forms the basis for informed decision-making within the assignment. By honing skills in data collection and analysis, students can construct well-informed and evidence-backed strategic management assignments, laying the groundwork for insightful insights and valuable contributions to the field.

1. Reliable Sources for Strategic Data

Crafting effective Strategic Management Assignments hinges on the careful selection of reliable sources for strategic data. Students are encouraged to seek information from reputable academic journals, industry reports, and recognized experts in the field. Relying on trustworthy sources ensures the accuracy and credibility of the data incorporated into the assignment.

By demonstrating a commitment to using reliable information, students not only bolster the validity of their arguments but also contribute to the overall quality of their strategic analyses. This emphasis on sourcing data from credible outlets is a key element in crafting assignments that not only showcase a deep understanding of strategic concepts but also adhere to the standards of academic rigor and integrity.

2. Utilizing Industry Reports and Trends

Crafting an effective Strategic Management Assignment involves a strategic utilization of industry reports and trends. Students are encouraged to delve into current industry reports to gain valuable insights into the latest developments, challenges, and opportunities within their chosen sector. By staying abreast of industry trends, students can infuse their assignments with relevant, up-to-date information, enhancing the overall quality and relevance of their analyses.

This proactive approach not only demonstrates a keen awareness of the business landscape but also ensures that the strategic solutions proposed are aligned with the dynamic nature of the industry. Effectively incorporating industry reports and trends into assignments is a key strategy for students to showcase their ability to apply theoretical concepts to real-world scenarios and contribute meaningfully to the field of strategic management.

B. Structure and Format

Crafting an effective Strategic Management Assignment requires careful attention to structure and format. Students must organize their work in a clear and logical manner, typically following a well-defined structure that includes an introduction, body, and conclusion. The introduction sets the stage by presenting the topic, objectives, and the relevance of the assignment. The body is the substantive part where theories, analyses, and findings are presented coherently.

Utilizing headings and subheadings can enhance the organization and readability of the content. Finally, a concise yet impactful conclusion summarizes key points and offers insights or recommendations. Adhering to a structured format not only ensures a seamless flow of ideas but also facilitates the reader's understanding. Students should also pay attention to citation styles, maintaining consistency and accuracy throughout the assignment. This commitment to structure and format enhances the professionalism and effectiveness of the strategic management assignment.

1. Introduction, Body, and Conclusion

Crafting effective Strategic Management Assignments hinges on a well-structured framework encompassing introduction, body, and conclusion. The introduction serves as a roadmap, outlining the purpose, relevance, and objectives of the assignment. It provides a compelling overview that captures the reader's interest. The body is the heart of the assignment, where theoretical concepts, analyses, and findings are presented systematically.

Utilizing clear headings and subheadings enhances organization and readability. Here, students articulate their arguments, drawing on research and data to support their perspectives. Finally, the conclusion synthesizes key points, reinforces the assignment's main objectives, and offers insightful takeaways or recommendations. A cohesive introduction, a substantively rich body, and a concise yet impactful conclusion collectively contributes to the effectiveness and professionalism of the strategic management assignment.

2. Incorporating Visuals and Graphs

Crafting an effective Strategic Management Assignment involves not only textual clarity but also the strategic use of visuals and graphs. Integrating visual elements enhances the overall presentation by providing a visual representation of data, trends, or complex concepts. Visuals such as charts, graphs, and diagrams can convey information more succinctly, making it easier for the reader to grasp key insights.

This strategic incorporation not only adds depth to the assignment but also demonstrates the student's ability to communicate complex ideas in a visually appealing and accessible manner. Effective use of visuals is a powerful tool for enhancing the overall impact of the assignment, making it more engaging and compelling for the reader.

A. Identifying and Overcoming Ambiguities

Common challenges in Strategic Management Assignments often revolve around identifying and overcoming ambiguities inherent in complex business scenarios. Students frequently encounter situations with incomplete information or multifaceted challenges that lack straightforward solutions. The ability to discern the nuances of ambiguous situations and navigate through uncertainties is crucial in strategic management.

Overcoming this challenge requires a combination of critical thinking, research skills, and a proactive approach. Successful completion of assignments involves not only acknowledging ambiguities but also devising strategic responses that showcase adaptability and a keen understanding of the intricacies inherent in real-world business environments. Addressing ambiguity becomes a skill set honed through strategic management assignments, preparing students for the unpredictable nature of decision-making in professional settings.

B. Dealing with Information Overload

A prevalent challenge in Strategic Management Assignments is effectively dealing with information overload. Students often encounter an abundance of data, theories, and perspectives, which can be overwhelming. The task is not merely to accumulate information but to discern its relevance and applicability to the strategic context at hand.

Managing this influx requires honing skills in information prioritization, critical analysis, and synthesis. Successfully overcoming this challenge involves creating a balance between depth and breadth of information, selecting key insights that contribute meaningfully to the assignment's objectives. In the dynamic field of strategic management, students learn to navigate through this challenge, acquiring the ability to extract valuable insights from extensive information while avoiding the pitfalls of information overload.

C. Integrating Multiple Perspectives

One common challenge in Strategic Management Assignments is the necessity to skillfully integrate multiple perspectives. Strategic decisions often involve diverse stakeholders with varied interests and viewpoints. Students face the challenge of not only understanding these different perspectives but also harmonizing them into a cohesive strategic framework. Successful navigation of this challenge requires effective communication, empathy, and the ability to synthesize contrasting viewpoints.

It's not just about acknowledging the diversity of opinions but finding common ground to formulate comprehensive and inclusive strategic solutions. Overcoming this challenge is integral to developing the well-rounded skill set needed for effective strategic management, where successful leaders are adept at handling the complexities of diverse perspectives within organizations.

A. Time Management Strategies

One crucial tip for the successful completion of Strategic Management Assignments is the implementation of effective time management strategies. Given the complexity and depth of strategic analyses, it's imperative for students to allocate their time wisely. Breaking down the assignment into manageable tasks, setting clear deadlines for each phase, and adhering to a structured schedule can help prevent last-minute rushes and ensure a thorough and well-thought-out submission.

Time management also involves prioritizing tasks based on their significance, allowing students to dedicate ample time to critical components of the assignment. By adopting robust time management strategies, students can not only meet deadlines but also produce high-quality strategic management assignments that reflect careful consideration and attention to detail.

B. Collaboration and Group Work

An effective tip for successful completion of Strategic Management Assignments is fostering collaboration and engaging in group work. Strategic management often involves teamwork, and assignments offer an opportunity to leverage collective strengths. Forming study groups or collaborating with peers allows for a diverse exchange of ideas, perspectives, and insights. Group discussions can illuminate different facets of a strategic challenge, enhancing the depth of analysis and enriching the overall assignment.

Furthermore, dividing tasks based on individual strengths and expertise within the group can lead to more efficient completion of various components. However, effective communication and coordination are key; establishing clear roles, maintaining open lines of communication, and setting regular check-ins ensure a cohesive and successful collaborative effort in tackling strategic management assignments.

C. Seeking Feedback and Revisions

A crucial tip for successful completion of Strategic Management Assignments is actively seeking feedback and embracing the revision process. Rather than viewing feedback as a final critique, consider it as a valuable tool for improvement. Seek input from professors, peers, or mentors to gain diverse perspectives on your strategic analysis.

Constructive feedback helps identify areas for enhancement and refines the depth and clarity of your arguments. Additionally, being open to revisions ensures that your assignment evolves into a polished and well-crafted piece of work. Iterative refinement, based on feedback, not only strengthens your strategic management skills but also showcases your commitment to producing a high-quality assignment. Embracing this continuous improvement mindset is a key strategy for achieving success in strategic management assignments.

A. Incorporating New Approaches

Balancing innovation and tradition in Strategic Management Assignments involves a strategic approach to incorporating new methodologies and approaches. While tradition provides a solid foundation, the dynamic nature of strategic management requires openness to innovative perspectives. Students can enhance their assignments by exploring contemporary models, emerging theories, or cutting-edge business practices.

Integrating new approaches demonstrates adaptability and a forward-thinking mindset. Whether it involves incorporating the latest technological trends, considering unconventional strategies, or applying novel frameworks, the incorporation of new approaches adds depth and relevance to the assignment. This balance between tradition and innovation in strategic management assignments reflects the adaptability required for success in the ever-evolving business landscape.

B. Respecting Time-Tested Methodologies

Achieving a balance between innovation and tradition in Strategic Management Assignments involves a nuanced approach that includes respecting time-tested methodologies. While innovation is vital for staying relevant in the dynamic business landscape, traditional and proven methodologies offer a reliable foundation. Students should acknowledge the value of established strategic management frameworks, theories, and practices that have demonstrated success over time.

By integrating these time-tested methodologies, assignments gain credibility and a solid theoretical grounding. This balanced approach demonstrates a comprehensive understanding of strategic management, showing an appreciation for both the innovative solutions that push boundaries and the tried-and-true methods that have stood the test of time. It underscores the importance of drawing from a rich array of strategic management concepts to formulate well-rounded and effective solutions in assignments.

A. Grading Criteria and Expectations

Assessing success in Strategic Management Assignments involves understanding the grading criteria and expectations set forth by instructors. Grading typically encompasses several key aspects, including the depth of analysis, clarity of communication, relevance of insights, and the application of strategic concepts to real-world scenarios. Instructors often look for evidence of critical thinking, effective problem-solving, and the ability to synthesize information.

A successful assignment should demonstrate a nuanced understanding of strategic management principles, supported by well-researched data and a clear articulation of ideas. Meeting or exceeding the specified expectations, adhering to assignment guidelines, and presenting a cohesive and logically structured document contribute to a higher grade. By aligning with grading criteria, students can gauge their success and ensure their strategic management assignments meet the academic standards set by their instructors.

B. Incorporating Feedback for Continuous Improvement

Assessing success in Strategic Management Assignments goes beyond grades; it involves a commitment to continuous improvement through the incorporation of feedback. Instead of viewing feedback as a final judgment, students should embrace it as a valuable resource for refining their strategic analyses. Understanding where improvements can be made, addressing suggestions, and building upon constructive criticism contribute to ongoing development.

Successful students actively seek feedback from instructors, peers, or mentors, using it to enhance their understanding, strengthen arguments, and refine their strategic thinking. This iterative process not only improves the quality of individual assignments but also cultivates a mindset of continuous learning and adaptation—an essential skill in the ever-evolving field of strategic management.

In conclusion, navigating the complexities of Strategic Management Assignments requires a strategic approach that balances tradition and innovation. Incorporating time-tested methodologies provides a solid foundation, while embracing new approaches demonstrates adaptability and foresight. Success in these assignments is not solely measured by grades but also by the ability to integrate feedback for continuous improvement.

Recognizing the importance of structure, time management, and collaboration further enhances the quality of strategic analyses. Strategic Management Assignments serve as a dynamic platform for students to bridge theoretical knowledge with practical application, preparing them for the multifaceted challenges of decision-making in the ever-evolving business landscape. By understanding and incorporating these tips and insights, students can not only excel in their assignments but also develop a robust skill set essential for success in the field of strategic management.

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What Is Strategic Management?

How It Worls
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Business Essentials

Investopedia / Alex Dos Diaz

Strategic management is the management of an organization’s resources to achieve its goals and objectives.

Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization .

Key Takeaways

Companies, universities, nonprofits, and other organizations can use strategic management as a way to make goals and meet objectives.
Flexible companies may find it easier to make changes to their structure and plans, while inflexible companies may chafe at a changing environment.
A strategic manager may oversee strategic management plans and devise ways for organizations to meet their benchmark goals.

Understanding Strategic Management

Strategic management is divided into several schools of thought. A prescriptive approach to strategic management outlines how strategies should be developed, while a descriptive approach focuses on how strategies should be put into practice. These schools differ on whether strategies are developed through an analytic process, in which all threats and opportunities are accounted for, or are more like general guiding principles to be applied.

Business culture , the skills and competencies of employees, and organizational structure are all important factors that influence how an organization can achieve its stated objectives. Inflexible companies may find it difficult to succeed in a changing business environment. Creating a barrier between the development of strategies and their implementation can make it difficult for managers to determine whether objectives have been efficiently met.

While an organization’s upper management is ultimately responsible for its strategy , the strategies are often sparked by actions and ideas from lower-level managers and employees. An organization may have several employees devoted to strategy, rather than relying solely on the chief executive officer ( CEO ) for guidance.

Because of this reality, organizational leaders focus on learning from past strategies and examining the environment at large. The collective knowledge is then used to develop future strategies and to guide the behavior of employees to ensure that the entire organization is moving forward. For these reasons, effective strategic management requires both an inward and outward perspective.

Strategic management extends to internal and external communication practices as well as to tracking, which ensures that the company meets goals as defined in its strategic management plan.

The 5 Phases of Strategic Management

Strategic management involves managing an organization's resources, analyzing internal and external forces, and developing strategies to realize goals and objectives. There are five key phases that can help businesses execute their strategies.

An organization must first establish clear, realistic goals. Its goals should answer what the company wants to achieve and why. Once set, the company can then identify the objectives, or how the goals will be reached. During this phase, the company can articulate its vision and long and short-term goals.
Organizations must then be able to examine, understand, and codify what internal and external forces affect their business and goals, as well as what it needs to remain competitive. Analytical tools, such as SWOT analysis, are helpful during this phase.
Based on the results of the analysis, the company can then develop its strategy, outlining how the company will achieve its goals and how. In this phase, the company will identify the needed people, technology, and other resources; how these resources will be allocated to fulfill tasks, and what performance metrics are needed to measure success. It is also critical to gain buy-in from stakeholders and business leaders.
Once the strategies are defined, it is time for execution. The strategy is taken from planning to implementation. During this phase, the allocated resources are placed into action based on their roles and responsibilities.
The final stage of strategic management is to evaluate the effectiveness of implemented strategies using defined metrics. The company will also visit whether ineffective strategies should be replaced with more viable ones. The company should continue to monitor the business landscape and internal operations, as well as maintain strategies that have proven effective.

Example of Strategic Management

For example, a for-profit technical college wishes to increase new student enrollment and enrolled student graduation rates over the next three years. The purpose is to make the college known as the best buy for a student's money among five for-profit technical colleges in the region, with a goal of increasing revenue.

In that case, strategic management means ensuring the school has funds to create high-tech classrooms and hire the most qualified instructors. The college also invests in marketing and recruitment and implements student retention strategies. The college’s leadership assesses whether its goals have been achieved on a periodic basis.

Why Is Strategic Management Important?

Helping their company find ways to be more competitive is the purpose of strategic management. To that end, putting strategic management plans into practice is the most important aspect of the planning itself. Plans in practice involve identifying benchmarks, realigning resources—financial and human—and putting leadership resources in place to oversee the creation, sale, and deployment of products and services.

In business, strategic management is important because it allows a company to analyze areas for operational improvement. In many cases, they can follow either an analytical process, which identifies potential threats and opportunities, or simply follow general guidelines. Given the structure of the organization, a company may choose to follow either a prescriptive or descriptive approach to strategic management. Under a prescriptive model, strategies are outlined for development and execution. By contrast, a descriptive approach describes how a company can develop these strategies.

Strategic management is the process of setting goals, procedures, and objectives in order to make a company or organization more competitive. Typically, strategic management looks at effectively deploying staff and resources to achieve these goals. Often, strategic management includes strategy evaluation, internal organization analysis, and strategy execution throughout the company.

What Is an Example of Strategic Management?

Consider a large company that wants to achieve more ambitious online sales rates. To meet these goals, the company will develop a strategy, communicate this strategy, apply it across various units and departments in the organization, integrate this with employee goals, and execute accordingly. If an effective strategy is applied, ideally, it will help the company achieve its targets through a single, coordinated process.

What Are the Key Elements of Strategic Management?

Strategic management is not a one-size-fits-all strategy. However, there are key elements that are found to be critical. These include goal setting, industry and organizational analyses, strategy formation, strategy implementation; and the measurement, monitoring, and controlling of strategies.

Strategic management is the assembling and management of resources to achieve a company's goals and objectives. Although it is often segmented into either prescriptive or descriptive schools of thought, many businesses subscribe to a combined philosophy, defining how a strategy should be developed and how the strategies will be employed. Strategic management helps companies set goals, gain a competitive edge, better manage their resources, and more. There is not one prescription for all. Companies must create and adapt a strategic management process that works best for their company and those they serve. Strategic management does not end with the successful implementation of strategies; it continues for the life of the business.

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What is strategic planning? A 5-step gu ...

What is strategic planning? A 5-step guide

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. In this article, we'll guide you through the strategic planning process, including why it's important, the benefits and best practices, and five steps to get you from beginning to end.

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. The strategic planning process informs your organization’s decisions, growth, and goals.

Strategic planning helps you clearly define your company’s long-term objectives—and maps how your short-term goals and work will help you achieve them. This, in turn, gives you a clear sense of where your organization is going and allows you to ensure your teams are working on projects that make the most impact. Think of it this way—if your goals and objectives are your destination on a map, your strategic plan is your navigation system.

In this article, we walk you through the 5-step strategic planning process and show you how to get started developing your own strategic plan.

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What is strategic planning?

Strategic planning is a business process that helps you define and share the direction your company will take in the next three to five years. During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company.

What is a strategic plan?

[inline illustration] Strategic plan elements (infographic)

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them.

Typically, your strategic plan should include:

Your company’s mission statement

Your organizational goals, including your long-term goals and short-term, yearly objectives

Any plan of action, tactics, or approaches you plan to take to meet those goals

What are the benefits of strategic planning?

Strategic planning can help with goal setting and decision-making by allowing you to map out how your company will move toward your organization’s vision and mission statements in the next three to five years. Let’s circle back to our map metaphor. If you think of your company trajectory as a line on a map, a strategic plan can help you better quantify how you’ll get from point A (where you are now) to point B (where you want to be in a few years).

When you create and share a clear strategic plan with your team, you can:

Build a strong organizational culture by clearly defining and aligning on your organization’s mission, vision, and goals.

Align everyone around a shared purpose and ensure all departments and teams are working toward a common objective.

Proactively set objectives to help you get where you want to go and achieve desired outcomes.

Promote a long-term vision for your company rather than focusing primarily on short-term gains.

Ensure resources are allocated around the most high-impact priorities.

Define long-term goals and set shorter-term goals to support them.

Assess your current situation and identify any opportunities—or threats—allowing your organization to mitigate potential risks.

Create a proactive business culture that enables your organization to respond more swiftly to emerging market changes and opportunities.

What are the 5 steps in strategic planning?

The strategic planning process involves a structured methodology that guides the organization from vision to implementation. The strategic planning process starts with assembling a small, dedicated team of key strategic planners—typically five to 10 members—who will form the strategic planning, or management, committee. This team is responsible for gathering crucial information, guiding the development of the plan, and overseeing strategy execution.

Once you’ve established your management committee, you can get to work on the planning process.

Step 1: Assess your current business strategy and business environment

Before you can define where you’re going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

To do this, your management committee should collect a variety of information from additional stakeholders, like employees and customers. In particular, plan to gather:

Relevant industry and market data to inform any market opportunities, as well as any potential upcoming threats in the near future.

Customer insights to understand what your customers want from your company—like product improvements or additional services.

Employee feedback that needs to be addressed—whether about the product, business practices, or the day-to-day company culture.

Consider different types of strategic planning tools and analytical techniques to gather this information, such as:

A balanced scorecard to help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance.

A SWOT analysis to help you assess both current and future potential for the business (you’ll return to this analysis periodically during the strategic planning process).

To fill out each letter in the SWOT acronym, your management committee will answer a series of questions:

What does your organization currently do well?

What separates you from your competitors?

What are your most valuable internal resources?

What tangible assets do you have?

What is your biggest strength?

Weaknesses:

What does your organization do poorly?

What do you currently lack (whether that’s a product, resource, or process)?

What do your competitors do better than you?

What, if any, limitations are holding your organization back?

What processes or products need improvement?

Opportunities:

What opportunities does your organization have?

How can you leverage your unique company strengths?

Are there any trends that you can take advantage of?

How can you capitalize on marketing or press opportunities?

Is there an emerging need for your product or service?

What emerging competitors should you keep an eye on?

Are there any weaknesses that expose your organization to risk?

Have you or could you experience negative press that could reduce market share?

Is there a chance of changing customer attitudes towards your company?

Step 2: Identify your company’s goals and objectives

To begin strategy development, take into account your current position, which is where you are now. Then, draw inspiration from your vision, mission, and current position to identify and define your goals—these are your final destination.

To develop your strategy, you’re essentially pulling out your compass and asking, “Where are we going next?” “What’s the ideal future state of this company?” This can help you figure out which path you need to take to get there.

During this phase of the planning process, take inspiration from important company documents, such as:

Your mission statement, to understand how you can continue moving towards your organization’s core purpose.

Your vision statement, to clarify how your strategic plan fits into your long-term vision.

Your company values, to guide you towards what matters most towards your company.

Your competitive advantages, to understand what unique benefit you offer to the market.

Your long-term goals, to track where you want to be in five or 10 years.

Your financial forecast and projection, to understand where you expect your financials to be in the next three years, what your expected cash flow is, and what new opportunities you will likely be able to invest in.

Step 3: Develop your strategic plan and determine performance metrics

Now that you understand where you are and where you want to go, it’s time to put pen to paper. Take your current business position and strategy into account, as well as your organization’s goals and objectives, and build out a strategic plan for the next three to five years. Keep in mind that even though you’re creating a long-term plan, parts of your plan should be created or revisited as the quarters and years go on.

As you build your strategic plan, you should define:

Company priorities for the next three to five years, based on your SWOT analysis and strategy.

Yearly objectives for the first year. You don’t need to define your objectives for every year of the strategic plan. As the years go on, create new yearly objectives that connect back to your overall strategic goals .

Related key results and KPIs. Some of these should be set by the management committee, and some should be set by specific teams that are closer to the work. Make sure your key results and KPIs are measurable and actionable. These KPIs will help you track progress and ensure you’re moving in the right direction.

Budget for the next year or few years. This should be based on your financial forecast as well as your direction. Do you need to spend aggressively to develop your product? Build your team? Make a dent with marketing? Clarify your most important initiatives and how you’ll budget for those.

A high-level project roadmap . A project roadmap is a tool in project management that helps you visualize the timeline of a complex initiative, but you can also create a very high-level project roadmap for your strategic plan. Outline what you expect to be working on in certain quarters or years to make the plan more actionable and understandable.

Step 4: Implement and share your plan

Now it’s time to put your plan into action. Strategy implementation involves clear communication across your entire organization to make sure everyone knows their responsibilities and how to measure the plan’s success.

Make sure your team (especially senior leadership) has access to the strategic plan, so they can understand how their work contributes to company priorities and the overall strategy map. We recommend sharing your plan in the same tool you use to manage and track work, so you can more easily connect high-level objectives to daily work. If you don’t already, consider using a work management platform .

A few tips to make sure your plan will be executed without a hitch:

Communicate clearly to your entire organization throughout the implementation process, to ensure all team members understand the strategic plan and how to implement it effectively.

Define what “success” looks like by mapping your strategic plan to key performance indicators.

Ensure that the actions outlined in the strategic plan are integrated into the daily operations of the organization, so that every team member's daily activities are aligned with the broader strategic objectives.

Utilize tools and software—like a work management platform—that can aid in implementing and tracking the progress of your plan.

Regularly monitor and share the progress of the strategic plan with the entire organization, to keep everyone informed and reinforce the importance of the plan.

Establish regular check-ins to monitor the progress of your strategic plan and make adjustments as needed.

Step 5: Revise and restructure as needed

Once you’ve created and implemented your new strategic framework, the final step of the planning process is to monitor and manage your plan.

Remember, your strategic plan isn’t set in stone. You’ll need to revisit and update the plan if your company changes directions or makes new investments. As new market opportunities and threats come up, you’ll likely want to tweak your strategic plan. Make sure to review your plan regularly—meaning quarterly and annually—to ensure it’s still aligned with your organization’s vision and goals.

Keep in mind that your plan won’t last forever, even if you do update it frequently. A successful strategic plan evolves with your company’s long-term goals. When you’ve achieved most of your strategic goals, or if your strategy has evolved significantly since you first made your plan, it might be time to create a new one.

Build a smarter strategic plan with a work management platform

To turn your company strategy into a plan—and ultimately, impact—make sure you’re proactively connecting company objectives to daily work. When you can clarify this connection, you’re giving your team members the context they need to get their best work done.

A work management platform plays a pivotal role in this process. It acts as a central hub for your strategic plan, ensuring that every task and project is directly tied to your broader company goals. This alignment is crucial for visibility and coordination, allowing team members to see how their individual efforts contribute to the company’s success.

By leveraging such a platform, you not only streamline workflow and enhance team productivity but also align every action with your strategic objectives—allowing teams to drive greater impact and helping your company move toward goals more effectively.

Strategic planning FAQs

Still have questions about strategic planning? We have answers.

Why do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It helps map out strategic objectives and growth metrics that will help your company be successful.

When should I create a strategic plan?

You should aim to create a strategic plan every three to five years, depending on your organization’s growth speed.

Since the point of a strategic plan is to map out your long-term goals and how you’ll get there, you should create a strategic plan when you’ve met most or all of them. You should also create a strategic plan any time you’re going to make a large pivot in your organization’s mission or enter new markets.

What is a strategic planning template?

A strategic planning template is a tool organizations can use to map out their strategic plan and track progress. Typically, a strategic planning template houses all the components needed to build out a strategic plan, including your company’s vision and mission statements, information from any competitive analyses or SWOT assessments, and relevant KPIs.

What’s the difference between a strategic plan vs. business plan?

A business plan can help you document your strategy as you’re getting started so every team member is on the same page about your core business priorities and goals. This tool can help you document and share your strategy with key investors or stakeholders as you get your business up and running.

You should create a business plan when you’re:

Just starting your business

Significantly restructuring your business

If your business is already established, you should create a strategic plan instead of a business plan. Even if you’re working at a relatively young company, your strategic plan can build on your business plan to help you move in the right direction. During the strategic planning process, you’ll draw from a lot of the fundamental business elements you built early on to establish your strategy for the next three to five years.

What’s the difference between a strategic plan vs. mission and vision statements?

Your strategic plan, mission statement, and vision statements are all closely connected. In fact, during the strategic planning process, you will take inspiration from your mission and vision statements in order to build out your strategic plan.

Simply put:

A mission statement summarizes your company’s purpose.

A vision statement broadly explains how you’ll reach your company’s purpose.

A strategic plan pulls in inspiration from your mission and vision statements and outlines what actions you’re going to take to move in the right direction.

For example, if your company produces pet safety equipment, here’s how your mission statement, vision statement, and strategic plan might shake out:

Mission statement: “To ensure the safety of the world’s animals.”

Vision statement: “To create pet safety and tracking products that are effortless to use.”

Your strategic plan would outline the steps you’re going to take in the next few years to bring your company closer to your mission and vision. For example, you develop a new pet tracking smart collar or improve the microchipping experience for pet owners.

What’s the difference between a strategic plan vs. company objectives?

Company objectives are broad goals. You should set these on a yearly or quarterly basis (if your organization moves quickly). These objectives give your team a clear sense of what you intend to accomplish for a set period of time.

Your strategic plan is more forward-thinking than your company goals, and it should cover more than one year of work. Think of it this way: your company objectives will move the needle towards your overall strategy—but your strategic plan should be bigger than company objectives because it spans multiple years.

What’s the difference between a strategic plan vs. a business case?

A business case is a document to help you pitch a significant investment or initiative for your company. When you create a business case, you’re outlining why this investment is a good idea, and how this large-scale project will positively impact the business.

You might end up building business cases for things on your strategic plan’s roadmap—but your strategic plan should be bigger than that. This tool should encompass multiple years of your roadmap, across your entire company—not just one initiative.

What’s the difference between a strategic plan vs. a project plan?

A strategic plan is a company-wide, multi-year plan of what you want to accomplish in the next three to five years and how you plan to accomplish that. A project plan, on the other hand, outlines how you’re going to accomplish a specific project. This project could be one of many initiatives that contribute to a specific company objective which, in turn, is one of many objectives that contribute to your strategic plan.

What’s the difference between strategic management vs. strategic planning?

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning how you will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success.

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Free Strategic Management Essay Examples & Topics

Every business and organization has set goals. The distribution of resources to achieve them is referred to as strategic management . It is an area with many elements to it, such as competitor analysis and planning.

The benefits of strategic management aren’t only financial. Setting long-term and short-term goals helps create a vision of a future for the business. In other words, it is the direction in which an organization is headed. Proper and timely strategic management can help significantly improve performance and profitability.

In this article, our experts have gathered topics and essay questions on strategic management. They will help you start and finish your assignment. Under the article, you will also find strategic management essay samples written by students like yourself.

There are different reasons why strategic management is important. It’s a shame that plenty of first-time business owners neglect to address future plans and ideas. Failing to set long-term objectives leaves a company without focus. Strategic planning helps not only find direction but also compare the business against its competitors.

The world of the 21 st century is fast-paced and ever-changing. A business needs to be able to survive in new environments and plan for sudden changes. Being prepared can result in an organization discovering new opportunities and give it a competitive advantage .

A business has limited resources. Thus, it needs to have a clear idea of where they’re being allocated. Wasting time and effort will result in setbacks. Effective leadership involves implementing specific policies and management practices that clearly outline the framework to be followed .

Finally, a business without a mission is a business without a drive. There has to be an underlying assumption about the focus and nature of an organization. Understanding the company’s mission allows both the owners and the employees to know where they’re headed.

9 Essay Questions on Strategic Management

Writing a strategic management essay, you may encounter or seek essay questions. Using them helps narrow down the scope of your work and focus your body paragraphs.

We came up with some ideas for you right here:

How can a business conduct competitor analysis?

Explain what competitor analysis is. Discuss competitive intelligence and competitor research. What are some of the ways this study can be conducted, such as the competitive profile matrix?

What are some of the most effective strategic management techniques for establishing future objectives for small businesses?

Mention some useful methods in the process of strategic management. For example, talk about the SWOT or the Growth-share matrix. Which tool is the most effective in establishing goals for a small business?

Are internal and external analyses similar?

Outline the main components of internal and external analyses. Compare and contrast the concepts. What are the goals of conducting these types of studies?

How does strategic control differ from other types of management control?

Define the concept of strategic control. What are some other strategic management examples? Compare and contrast them. Mention that strategic control accounts for uncertainty and doubt.

How can a business ensure a successful merger using strategic management?

Describe the meaning and the process of a merger. Note the challenges that can arise during this process. Analyze the different ways of ensuring success, such as integration strategies.

What is the difference between strategy implementation and formulation in marketing?

Elaborate on the key elements of strategy implementation and strategy formulation. Compare and contrast them. Explain how these concepts would be executed in the context of marketing.

How do global businesses conduct effective strategic cost management?

What is the process of strategic cost management? Evaluate some of the techniques global businesses might use, such as target costing. Provide real-life examples.

Why would a business want to conduct internal and external R&D?

Explain what R&D is and how it relates to strategic management. Contrast external and internal R&D. Describe the reasons why combining the two is beneficial.

What tools can a business use to ensure that its goals and objectives are being met?

Explain different types of objectives a business might set. Show some of the strategic management tools that can evaluate performance, such as the Balanced Scorecard. Which of these tools is most effective?

21 Strategic Management Assignment Topics

While using questions is effective, sometimes they can distract you from writing your best essay about strategic management. If this sounds like you, then we have something else to offer. Below, we have gathered some ideas for you to explore. Besides, you can use our very title generator – it will create a topic for you automatically!

Check these strategic management topics:

A discussion on the difference between horizontal integration and vertical integration.
How can a business achieve a competitive advantage in its niche?
The effectiveness of PEST and SWOT analyses in strategic management.
Dell – a strategic management case study of low-cost manufacturing and supply chain organization.
An analysis of the long-term benefits of sustained strategic planning.
The difference between business-level, corporate-level, and global-level strategies.
How can strategic management lead to effective conflict resolution?
The advantages and disadvantages of horizontal integration.
What role do the stakeholders play in strategy implementation?
An evaluation of the steps of the AFI Strategy Framework.
How businesses adjust when set objectives aren’t being met.
A case study of Walmart’s strategic management and vertical integration.
The factors to consider during the process of strategy formulation.
A study of the Strategic Management Journal: its impact on the universal principles in strategic planning.
What are the limitations of strategic management?
A breakdown of the strategic management process: key components.
How do businesses choose what type of vertical integration to implement?
Porter’s 5 Competitive Forces and the creation of market opportunities for new businesses.
A study of the critical assumptions of the Research-Based View.
The benefits and limitations of Ansoff’s Matrix in strategic planning.
A critical evaluation of the VRIO framework and its role in strategic management.

Thank you for reading! We hope that these ideas will further inspire you in your strategic management assignment.

Writing an academic paper is always hard work, so we wish you the best of luck. If you still seek a little more guidance, check out our strategic management paper examples below. And if you don’t have the time for that, use our online summarizer to shorten them!

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Course Resources

Assignments.

The assignments in this course are openly licensed, and are available as-is, or can be modified to suit your students’ needs. Selected answer keys are available to faculty who adopt Waymaker, OHM, or Candela courses with paid support from Lumen Learning. This approach helps us protect the academic integrity of these materials by ensuring they are shared only with authorized and institution-affiliated faculty and staff.

If you import this course into your learning management system (Blackboard, Canvas, etc.), the assignments will automatically be loaded into the assignment tool.

Sun City Boards Assignments and Discussions

Half of the written assignments and discussions are based on a case study, whose focus is a fictional high-end surfboard company, Sun City Boards, which is also highlighted in the Why It Matters and Putting it Together in Module 3: Planning and Mission. Many of these assignments take the form of asking students to give Tom, the company’s inexperienced owner, advice about how he can run his business more effectively. The Sun City Boards assignments create a common framework for applying knowledge and skills developed through the course, encouraging students to demonstrate mastery of the content through real-world tasks and work products.

Alternate Assignments and Discussions

The other half of the written assignments and discussions use a variety of approaches, depending on the subject and learning outcome being assessed; many ask students to go beyond course content to form connections between research topics and what they’ve learned in class.

Using Assignments

We recommend assigning one discussion OR one assignment per chapter, rather than all of them. Some instructors prefer to stick with the Sun City Boards theme throughout the course; others like to use some of the alternates along the way. You can view any assignments or discussions below or throughout the course.

You can view them below or throughout the course:

Rubric for Assignments

There is also a sample rubric to assist you in grading. Instructors may modify these guidelines or use their own.

Open Pedagogy Assignments

Open Pedagogy Assignments are assignments in which students use their agency and creativity to create knowledge artifacts that can support their own learning, their classmates’ learning, and the learning of students around the world. (See this peer-reviewed article for more details.) All of the assignments can be created with a cell phone camera or any video recording device, Google or Word documents, and your learning management system.

Discussions

The following discussion assignments will also be preloaded (into the discussion-board tool) in your learning management system if you import the course. They can be used as is, modified, or removed. You can view them below or throughout the course.

Rubric for Discussion Posts

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SM Assignment 2

More From Forbes

How leaders use ai as a strategic asset.

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SUN VALLEY, ID - JULY 8: Sam Altman, president of Y Combinator and co-chairman of OpenAI, attends ... [+] the annual Allen & Company Sun Valley Conference, July 8, 2016 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. (Photo by Drew Angerer/Getty Images)

In today's digital age, Artificial Intelligence (AI) is not just a technological innovation but a transformative strategic asset that can catapult businesses to unprecedented levels of efficiency, Innovation, and market leadership. Grasping the potential of AI and how to harness it effectively is not just crucial, but exhilarating for business leaders aiming to maintain a competitive edge in a rapidly evolving marketplace.

1. Enhancing Customer Experiences:

AI has the power to revolutionize how businesses engage with their customers . By personalizing the customer experience on a large scale, AI can predict customer preferences and behaviors, enabling companies to tailor their offerings and communications precisely. For instance, e-commerce platforms leverage AI to recommend products that perfectly match individual users' preferences, leading to a significant boost in conversion rates and customer satisfaction.

2. Streamlining Operations:

AI technologies empower businesses by optimizing operations , making them more efficient and cost-effective. By automating routine tasks, AI liberates employees to focus on more strategic work, potentially revolutionizing business models. In manufacturing, AI-driven robots can perform assembly tasks, predict when machines are likely to fail and recommend preventive maintenance. This not only accelerates production but also enhances the longevity of the equipment, instilling confidence in the business's capabilities.

3. Driving Innovation:

AI serves as a critical driver of Innovation , opening new avenues for product and service development. By integrating AI into the product development process, businesses can accelerate the pace of Innovation, reduce costs, and bring new ideas to market more quickly. In the pharmaceutical industry, AI algorithms analyze vast medical research datasets to identify potential new drug candidates much faster than traditional methods.

4. Risk Management:

AI significantly enhances an organization’s ability to manage risk . Predictive analytics can forecast market changes, identify potential fraud, and optimize investment decisions, thus mitigating financial risks. Additionally, AI can enhance cybersecurity protocols by detecting unusual patterns that may indicate security breaches, responding more rapidly than human teams.

WhatsApp Brand New iPhone Feature Just Launched That’s Much Easier To Use

Apple s iphone ai plans confirmed with new software upgrade, packers complete safety overhaul with georgia s javon bullard, 5. gaining insight from big data:.

In an era of abundant data, AI is essential for deriving actionable insights from large datasets. AI can process and analyze data far beyond human capability, providing businesses with insights to drive strategic decisions. For instance, retailers can use AI to analyze customer data across multiple channels to derive insights into shopping behaviors and trends, enabling them to stock products more effectively and optimize marketing strategies.

Strategic Implementation of AI:

To effectively harness AI as a strategic asset, leaders must consider several key factors:

• Investment in Talent and Training :

Developing or acquiring AI expertise is crucial for leveraging AI technologies effectively . This may involve hiring data scientists, AI specialists, and other tech-savvy professionals or investing in training current employees to upskill them in AI capabilities.

• Data Governance :

Strong data governance policies are necessary to manage the vast amounts of data required for AI processes, ensuring data quality, security, and compliance with regulations.

• Ethical AI Use :

As AI becomes more integral to business operations, maintaining ethical standards becomes paramount. This includes addressing issues like privacy, bias in AI algorithms, and the social implications of automation.

• Strategic Partnerships :

Collaborating with technology providers, research institutions, and other organizations can provide access to advanced AI tools and innovations, facilitating more effective implementation.

AI as a strategic asset offers substantial benefits across multiple facets of business operations, from improving efficiency and customer engagement to driving Innovation and managing risk. By strategically integrating AI, leaders cannot only achieve specific business objectives but also position their organizations as pioneers in the digital era, fostering a sense of strategic foresight and forward-thinking.

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Strategic Management Assignment

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Ecommerce is dead

The idea of an “ecommerce business” is an anachronism, a holdover from when breaking into the digital realm involved replicating product descriptions on a web page and calling it an ecommerce store. In the early days of online shopping, ecommerce brands were categorized as online stores or “multichannel” businesses operating both ecommerce sites and brick-and-mortar locations. This era was defined by massive online marketplaces like Amazon, ecommerce platforms such as eBay, and consumer-to-consumer transactions conducted on social media platforms like Facebook marketplace.

Early on, ecommerce marketing strategies touted the novelty of tax-free, online-only retailing that incentivized consumers to select an online channel both for convenience and better pricing options. Those marketing campaigns focused on search engine optimization (SEO) and similar search-related tactics to drive attention and sales.Personalization on an ecommerce website might have involved a retailer remembering your previous orders or your name.

In the world dictated by these kinds of ecommerce sales and touch points, an effective ecommerce strategy might prioritize releasing new products on early iterations of social media, or retargeting consumers across marketing channels with an email marketing campaign. Later in the journey, tactics like influencer marketing and social media marketing encouraged channel-specific messaging that still separated a retailer’s digital operations from its in-person activities.

But the paradigm has shifted. Fatigued by endless options and plagued by the perception of bad actors, today consumers expect more.The modern shopper expects a unified and seamless buying journey with multiple channels involved. The idea of discrete sales channels has collapsed into an imperative to create fluid, dynamic experiences that meet customers exactly where they are.

That means every business, no matter the industry or organizational plan, needs to prioritize the three pillars of an excellent commerce experience strategy: Trust, relevance and convenience . Experience is the North Star of conversion. By cultivating those pillars, any retailer, from a small business to a multinational corporation, can elevate its experience to increase its relevance and remain competitive.

Building trust in an uncertain world

Research shows that today’s customer is anxious and uncertain. Most consumers believe that the world is changing too quickly; over half think business leaders are lying to them , purposely trying to mislead people by grossly exaggerating or providing information they know is false. And, in of 2024, brand awareness means little without trust. The integrity of a business’ reputation remains among the top criteria for consumers when they consider where their dollars go.

Customer acquisition and customer retention depend on consistently excellent experiences that reward consumer trust. Making trust a priority requires building relationships through transparent commerce experiences. It means implementing systems that treat potential customers as valued partners rather than a series of data points and target markets to exploit. The necessity of trust in a relationship-focused commerce strategy is perhaps most obvious in terms of how a business treats the data it acquires from its customer base.

But trust is earned—or lost—at every interaction in the customer journey.

Can the customer trust a business to maintain competitive pricing, and generate digital marketing campaigns that are more useful than invasive?
Can the customer trust a business to make it easy to control their own data?
Is the user experience intuitive and cohesive regardless of whether a customer is shopping at an online sale or in a store?
When new customers view their shopping carts and prepare to complete checkout, does the business automatically sign them up for services they do not want?
Does the payment process frustrate a customer to the point of cart abandonment?
If a package is set to deliver during a specific window, can the customer trust it arrives during that time?
Does the brand make it convenient to do business with them post purchase?

By addressing the issue of consumer trust at every stage, an organization can eliminate fiction and consumer pain points to build long-lasting relationships.

Navigating ethical personalization

Personalization in commerce is no longer optional . Just as search engine optimization is essential common practice for getting a business’s webpages in front of people online, personalization is essential for meeting consumer expectations. Today’s consumer expects a highly customized channel-less experience that anticipates their needs.

But those same consumers are also wary of the potential costs of personalization. According to a recent article in Forbes, data security is a “nonnegotiable” factor for boomers , 90% of whom said that personal data protection is their first consideration when choosing a brand. And for gen X, data protection is of the utmost priority; 87% say it’s the primary factor influencing their purchasing behavior. This puts brands in a delicate position.

“You cannot create an experience that resonates with consumers—one that is trusted, relevant and convenient—without understanding the emotions and motivations of those populations being served.” Shantha Farris, Global Digital Commerce Strategy and Offering Leader at IBM iX

The vast amounts of data businesses collect, combined with external data sources, can be used to present cross-selling and upselling opportunities that genuinely appeal to customers. Using automation, businesses can create buyer personas at a rapid pace and use them to improve the customer journey and craft engaging content across channels. But in a channel-less world, data should be used to inform more than FAQ pages, content marketing tactics and email campaigns.

To create precise and positive experiences, brands should synthesize their proprietary customer data—like purchase history and preferences—with third-party sources such as data gleaned from social media scraping, user-generated content and demographic market research. By using these sources, businesses can obtain both real-time insights into target customers’ sentiment and broader macro-level perspectives on their industry at large. Using advanced analytics and machine learning algorithms, such data streams can be transformed into deep insights that predict a target audience’s needs.

To ensure the success of this approach, it is crucial to maintain a strong focus on data quality, security and ethical considerations. Brands must ensure that they are collecting and using data in a way that is transparent, compliant with regulations and respectful of customer privacy. By doing so, they can build trust with their customers and create a positive, personalized experience that drives long-term growth and loyalty across the commerce journey.

Creating delightful, convenient experiences

As mentioned earlier, experience is the North Star of conversion, and building convenient experiences with consistent functions remains a key driver for a business’ sustainable growth. In a channel-less world, successful brands deliver holistic customer journeys that meet customers exactly where they are, whether the touch point is a product page, an SMS message, a social platform like TikTok, or an in-person visit to a store.

The future of commerce , augmented by automation and AI , will increasingly provide packaged customer experiences. This might include personalized subscriptions or a series of products, like travel arrangements, purchased together by using natural language and taking a specific customer’s preferences into account.

“Once you have the foundation of a trusted, relevant and convenient experience, building on that foundation with the power of generative AI will allow businesses to deepen their customer relationships, ultimately driving more profitable brand growth.” Rich Berkman, VP and Senior Partner for Digital Commerce at IBM iX

The moment of conversion can take many forms. With careful planning, the modern retailer has the potential to create a powerful buying experience—one that wins customer loyalty and cultivates meaningful brand relationships. And new technologies like generative AI, when used correctly, provide an opportunity for sustainable and strategic growth.

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Assignments
Module 1: Introduction to Management. Assignment: Evaluating Sun City Boards. Assignment: Primary Functions of Management. Module 2: History of Management. Assignment: Sun City Boards' Management Style. Assignment: History of Management. Module 3: Planning and Mission. Assignment: Creating a Plan for Sun City Boards.
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