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Strategic Management Project

1) Strategy formulation 1 2) Strategy implementation 1 3) Strategy evaluation 1 4) Strategy control 2 5) Strategic and technology & innovation 2 6) Issues on managing 3 7) Effective strategy diagram 3 8) Bibliography (footnote) 1,2,3

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Zubaidah
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84 views3 pages

Strategic Management Project

1) Strategy formulation 1 2) Strategy implementation 1 3) Strategy evaluation 1 4) Strategy control 2 5) Strategic and technology & innovation 2 6) Issues on managing 3 7) Effective strategy diagram 3 8) Bibliography (footnote) 1,2,3

Uploaded by

Zubaidah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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ITTIHAD UNIVERSITY, COLLEGE OF MANAGEMENT AND INFORMATION SYSTEMS

Student Name: Zubaidah Abdul Rehman Al Din, 20042080


Course: Strategic Management, 202420
Strategy formulation
Strategy formulation is the process of determining appropriate courses of action for achieving
organizational objectives and thereby accomplishing organizational purpose. The strategy you
formulate should reflect environmental analysis, lead to fulfillment of your organizational mission,
and result in reaching organizational objectives. Special tools you can use to assist you in
formulating strategies include critical question analysis, SWOT analysis, business portfolio analysis,
Porters model for industry analysis, and resource!based model. These five strategy development
tools are related but distinct. "ou should use the tool or combination of tools that is most appropriate
for your organization and business environment.
#$%

Strategy implementation
Strategy implementation s&ills are not easily mastered, unfortunately. 'n fact, virtually all managers
find implementation the most difficult aspect of their jobs ( more difficult than strategic analysis or
strategy formulation. Strategies that are not implemented constitute little more than academic
e)ercises.
The ability to implement strategies is one of the most valuable of all managerial s&ills. *anager+s
intent on implementing strategy must master systems thin&ing to be able to coordinate a broad range
of interconnected efforts aimed at transforming intentions into action, and ta&e care of the factors
impeding strategy implementation.
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Strategy evaluation
Strategic -valuation is an evaluation approach .hich emphasizes a shift in evaluation thin&ing.
-valuation is currently attempting to respond to a variety of societal, governmental, political and
conceptual trends.
Bibliography:
1]. Strategy formulation, "1000ventures", December 15, 00!, " ###.1000ventures.com$business%gui&e$strategy%formulation.html'.
]. Strategy implementation, "1000ventures", December 15, 00!, " http:$$###.1000ventures.com$business%gui&e$strategy%implementation.html'.
Page $ of /
ITTIHAD UNIVERSITY, COLLEGE OF MANAGEMENT AND INFORMATION SYSTEMS
Student Name: Zubaidah Abdul Rehman Al Din, 20042080
Course: Strategic Management, 202420
The Strategic -valuation 0pproach is being advanced as a .ay of conceptualizing evaluation+s
response to these demands. 1onsistent .ith contemporary evaluation thin&ing it claims the
follo.ing as the &ey current priorities for evaluation.
#2%
The process of strategy evaluation consists of
three activities3
#/%
$%. 4evie. the basic factors on .hich strategy .as formulated and chec& that does there is any
change in those factors.
,%. 1ompare the actual performance .ith budget performance.
/%. Ta&e corrective actions according to requirements.
Strategy control
Strategic control is concerned .ith trac&ing the strategy as it is being implemented, detecting any
problems areas or potential problem areas, and ma&ing any necessary adjustments. 4ecognizing the
number of different .ays that intended and realized strategies may differ underscores the importance
of evaluation and control systems so that the firm can monitor its performance and ta&e corrective
action if the actual performance differs from the intended strategies and planned results. Strategic
control focuses on the dual questions of .hether the strategy is being implemented as planned and
the results produced by the strategy are those intended.
#5%
Strategic an& technology ( innovation
The alignment of business and 'T strategies has been utilized by organizations to create and improve
efficiencies, reduce costs, create barriers to entry, improve customer and buyer6supplier relationships,
and to create ne. products and business solutions.
Bibliography:
)]. Strategy evaluation, "*i+iansa#ers", December 15, 00!, "http:$$#i+i.ans#ers.com$,$Strategy%evaluation%frame#or+'.
-]. Strategy evaluation, "Strategicevaluation", December 15, 00!, " http:$$###.strategicevaluation.info$se$'.
5]. Strategic .anagement Strategic /ontrol: 0 1e# 2erspective, "Strategiccontrol", December 15, 00!, " http:$$###.strategic3
control.-4ls.com$en1)5'.
Page , of /
ITTIHAD UNIVERSITY, COLLEGE OF MANAGEMENT AND INFORMATION SYSTEMS
Student Name: Zubaidah Abdul Rehman Al Din, 20042080
Course: Strategic Management, 202420
1onsequences of organizations that fail to strategically align 'T and business strategies face
increasing financial and opportunity costs. 7ailure to align business strategy .ith 'T results in the
follo.ing mishaps3
#8%

'nability to invest 'T dollars .isely and to create mechanisms for investment and funding

'nability to gain credibility .ith the business and provide proactive rather than reactive
services

'nability to attract, retain, and resource the appropriate s&ills

'nability to measure 'T+s contribution to the business

'nability to communicate strategy to employees and lin& strategy to budgets


#8%
6ssues in managing
Strategizing is much more than just visioning, forecasting and planning. 'n the ne. rapidly changing
economy, all substantive issues of strategy have been redefined as issues of implementation. Today,
strategizing is concerned .ith the match bet.een the internal capabilities of the company and its
e)ternal environment. The modern subject of business strategy is a
set of analytic techniques for understanding better, and so
influencing, a companys position in its actual and potential
mar&etplace.
#9%
The managing issue areas are information
gate.ays, preliminary planning, staff and s&ills, system
requirements, and maintenance requirements.
#:%
Bibliography:
7]. Business strategy, "1000ventures", December 15, 00!, "http:$$###.1000ventures.com$business%gui&e$business%strategy.html'.
!]. Strategic issues, "Desire", December 15, 00!, "http http:$$###.&esire.org$han&boo+$print1.html'.
8]. 0ligning 9echnology an& Business Strategy, "/SD:computer", December 17, 00!, "http:$$cs&l.computer.org$comp$procee&ings$hicss$
00-$057$08$057800c.p&f'.
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