Case Study: Strategic Management Action: Strategic Position

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[. . .] (Docstoc.com, nd)

The SPACE Matrix is a matching tool in stage 2 and is inclusive of a four-quadrant network indicating if aggressive, conservative, defensive of competitive strategies are the appropriate choice for the specific organization. Numerous variables may comprise each of the four dimensions depending on organization type.

The Boston Consulting Group (BCG) Matrix provides a graphic representation in the differences among the organizational divisions relative to the market share position and growth rate of the industry. The Matrix four quadrants are represented as follows:

(1) Question marks: Explained is that the divisions in this quadrant have a relatively low market share position and compete in a high-growth industry. Cash needs are high and cash generation low.

(2) Stars; This quadrant represents the best long-run growth opportunities and profitability. These businesses are reported as having a high relative market share and to compete in high-growth rate industries.

(3) Cash Cows: these divisions have a high relative market position and compete in a low-growth industry. Named cash cows since they generate cash in excess of their needs; and (4) Dogs: these are low relative market share position competing in a slow or no-growth industry and are therefore 'dogs' in the portfolio of the business.( Docstoc.com, nd)

The Internal-External Matrix (IE)

This matrix is such that is reported to position the organizational divisions in a display of nine cells and is similar to the BCG Matrix since both tools involve plotting organizational divisions in a schematic diagram.

The Grand Strategy Matrix

This matrix is a tool used in formulating alternative strategies.

The Decision Stage

The Quantitative Strategic Planning Matrix (QSPM)

This is the only analytical technique designed to conduct a determination on the relative attractiveness of alternative actions.

The following illustration shows the strategic management strategy analysis and choice and the three stages involved.

Figure 2

Strategy Analysis and Choice -- Three Stages

Source: Nabardi (nd)

The following illustrations depicts the four quadrants of the 'Strategy Analysis Matching Stage'.

Figure 3

Strategy Analysis Matching Stage: Four Quadrants

Source: Nabadi (nd)

III. Implementation of Strategy

The implementation of a strategy essentially takes the plan, which is then diffused through the organization. Each organizational unit must be involved and accept the plan while agreeing to the directions the plan takes and ensure that specific actions are implemented.

Implementation of strategy involves:

(1) Establishing annual objectives;

(2) devising policies;

(3) motivating employees;

(4) allocating resources;

(5) developing strategy-supportive culture;

(6) creating organizational structure

(7) redirecting marketing efforts;

(8) preparing budgets; and (9) development of an information system. (Nabradi, nd)

All of the above stated components of strategy implementation are part of the business planning process.

Following the stages of Organizational Strategic Management Strategic positioning, choice and implementation is a required stage of strategy evaluation. Strategy evaluation includes the review of both internal and external factors, a measure of performance and finally taking the actions necessary for corrective purposes.

Summary and Conclusion

This study has reviewed the strategic management strategy action, choice and implementation stages, and all that is included in each of these stages of strategic management. Included in the analysis of choice literature are several matrices by which the strategic manager is able to measure various components of the organization in order to make informed and effective choices in the decision-making process or the organizational strategic management initiative.

Bibliography

Futuring: Strategic Planning for Making Your Visions Come True. J. Scott Thornton. American Society of Association Executives, 1986.

Introducing Strategy (nd) Strategy Lab -- Chapter 1. Retrieved from: http://catalogue.pearsoned.co.uk/assets/hip/gb/hip_gb_pearsonhighered/samplechapter/0273757253.pdf

Long-Range Planning. American Society of Association Executives. 202/626-2748 2. Planning for the Future. By Stephen Gilbert. American Society of Association Executives, 1986.

Manual OD Toolkit (nd) Retrieved from: http://www.zenska-mreza.hr/prirucnik/en/en_manual.htm

Nabradi, Andras (2000) Strategic Management Process: Strategy Formulation 3. Retrieved from: http://www.agr.unizg.hr/cro/istrazivanja/projekti/ahead/doc/strategic_mgmt_4.pdf

Steiner, George (1979) Strategic Planning. The Free Press, 1979.

Strategic Management (nd) M.Com (Final) Maharshi Dayanand University ROHTAK ? 124-001 Developed & Produced by EXCEL BOOKS PVT. LTD., A-45 Naraina, Phase 1, New Delhi-110028. Retrieved from: http://www.mdudde.net/books/Mcom/Mcom-f/strategic-management (crc)-final.pdf

Strategic Management, Strategy Analysis and Choice -- Chapter 6 (nd) Retrieved from: http://www.docstoc.com/docs/20119815/STRATEGIC-Management-STRATEGY-ANALYSIS-AND-CHOICE-CHAPTER-6

Strategic Management: Strategy Analysis and Choice -- Chapter 6 (nd) Retrieved from: http://www.docstoc.com/Docs/Document-Detail-Google.aspx?doc_id=20119815

Strategic Planning and the Nonprofit Board. Dabney G. Park, Jr. National Center for Nonprofit Boards, 1990.… [END OF PREVIEW]

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