assignment topics for strategic management

Strategic Management

(15 reviews)

Kennedy B. Reed, Virginia Tech

Copyright Year: 2020

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

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 alignment within an organization is highlighted at the beginning of the book. I see it in Chapter 10.

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

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.... read more

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... read more

[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... read more

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 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 of the text does not include an index or glossary, which can be an enhancement to the book.

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.

Reviews prior to 2020 are for a previous edition.

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... read more

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

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, and more. However, it does not have a separate chapter about small business strategy.

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

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 versions are searchable, obviating the need for an index.

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

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... read more

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... read more

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... read more

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.

Table of Contents

• 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.

Contribute to this Page

Browse Course Material

Course info, instructors.

• Rohan Sahani
• Prof. Arnoldo Hax

Departments

• Sloan School of Management

As Taught In

Learning resource types, strategic management i.

A list of general references is also provided in this section.

Required Textbook

Hax, Arnoldo C., and Dean L. Wilde. The Delta Project: Discovering New Sources of Profitability . New York, NY: Palgrave, 2001. ISBN: 0312240465.

Recommended Textbook

Hax, Arnoldo C., and Nicolas S. Majluf. The Strategy Concept and Process: A Pragmatic Approach . 2nd ed. Upper Saddle River, NJ: Prentice Hall, 1996. ISBN: 0134588940.

Other Readings

Each day’s reading is listed below.

General References

Bartlett, C., and S. Ghoshal. Managing Across Borders: The Transnational Solution. Boston, MA: Harvard Business School Press, 2002.

Brandenburger, A. M., and B. J. Nalebuff. Co-opetition . New York, NY: Doubleday & Company, 1996.

Kim, W. Chan, and R. Mauborgne. Blue Ocean Strategy. Boston, MA: Harvard Business School Press, 2005.

Christensen, C. The Innovator’s Dilemma: When Technologies Cause Great Firms to Fail . Boston, MA: Harvard Business School Press, 1997.

———. The Innovator’s Solution: Creating and Sustaining Successful Growth . Boston, MA: Harvard Business School Press, 2003.

Collis, D., and C. Montgomery. Corporate Strategy: Resources and the Scope of the Firm. Westport, CT: Irwin Press, 1997.

Cusumano, M. A., and C. C. Mardikes, eds. Strategic Thinking for the New Economy . Hoboken, NJ: Jossey-Bass, 2001.

Foster, R., and S. Kaplan. Creative Destruction . New York, NY: Doubleday & Company, 2000.

Galbraith, J. Designing the Global Corporation . Hoboken, NJ: Jossey-Bass, 2000.

Ghemawat, P., D. Collis, G. Pisano, and J. Rivkin. Strategy and the Business Landscape. Upper Saddle River, NJ: Prentice Hall, 2001.

Hamel, G., and C. K. Prahalad. Competing for the Future . Boston, MA: Harvard Business School Press, 1996.

Hayes, R., G. Pisano, and D. Upton. Strategic Operations: Competing Through Capabilities . New York, NY: Free Press, 1996.

Kaplan, R. S., and D. P. Norton. Strategy Maps: Converting Intangible Assets Into Tangible Outcomes . Boston, MA: Harvard Business School Press, 2004.

Pfeffer, J. The Human Equation . Boston, MA: Harvard Business School Press, 1998.

Porter, M. Competitive Advantage . New York, NY: Free Press, 1985.

———. The Competitive Advantage of Nations . New York, NY: Free Press, 1990.

Prahalad, C. K., and V. Ramaswamy. The Future of Competition . Boston, MA: Harvard Business School Press, 2004.

Reichheld, F. Loyalty Rules . Boston, MA: Harvard Business School Press, 2001.

Saloner, G., A. Shepard, and J. Podolny. Strategic Management . New York, NY: John Wiley & Sons, 2001.

Shapiro, C., and H. Varian. Information Rules . Boston, MA: Harvard Business School Press, 1999.

Stern, J. M., and J. S. Shiely. The Eva Challenge: Implementing Value-Added Change in an Organization . New York, NY: John Wiley & Sons, 2001.

Thompke, S. Experimentation Matters: Unlocking the Potential of New Technologies for Innovation . Boston, MA: Harvard Business School Press, 2003.

Ulrich, D. Human Resource Champions . Boston, MA: Harvard Business School Press, 1997.

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Strategic Management Assignments (10 Best Writing Steps)

• 7 month(s) ago

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

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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BUS501: Strategic Management

Unit 1: introduction to strategy.

Before designing a winning strategy for your organization, let's first review some definitions. This unit will define key terms related to the course. You will see the terms explained in more detail as you navigate the course. However, it is critical to start with a good solid foundation. A few key terms discussed in this unit are strategy, markets, firms, and management. This unit describes how firms must navigate the marketplace and remain competitive. Management often wants to identify their competitors; however, this would be a risky mistake. There are vast considerations companies need to address to create a winning strategy.

A great example of how corporations make moves in the marketplace comes from Microsoft and Google, two well-known tech companies. They are competitors, but they do not compete in all of the same markets. Google primarily competes in the search engine market, where Microsoft has also started to devote more resources with a new "decision engine" called Bing. Likewise, Microsoft competes in the operating system market, and Google has recently diverted resources to compete in this market with Chrome OS. However, competitors do not always compete in the same markets. For example, Apple competes in many markets with Google and Microsoft but makes these companies' products available on its platform. Apple does not have a search engine, so it allows Google and Microsoft to compete on the iPhone. Identifying markets and industries gives a firm the foundation to develop goals and strategies. Microsoft may aim to take 5% of the search engine market from Google and then create a plan to accomplish this.

This unit focuses on topics such as those mentioned above. However, the course will also look at how other smaller businesses and departments might design strategies at different levels within a firm.

Completing this unit should take you approximately 3 hours.

To help you get acclimated to the course and its structure, take a look at this introduction video hosted by the professor who created the course.

BUS501:Strategic Management Unit 1

Upon successful completion of this unit, you will be able to:

• define strategy in its many forms;
• discuss the participants in strategy as a hierarchy; and
• analyze market structures.

1.1: Definition

This video introduces strategic management, starting with a traditional approach. It leads you through the major concepts that will follow in the course. Do not be overwhelmed by the scope of strategic management. You may want to have the course syllabus in front of you and note the flow of the course as you watch the video.

The videos in this course come from a wide range of business experts, scholars, and organizational leaders. Therefore, you might hear the narrators encourage you to participate in activities outside of our course. Also, the narrators might offer you access to other resources you might consider using as a helpful tool to expand your knowledge of strategic management.

Pay attention to the critical concepts stressed in the instructions included with each activity as you progress through the course.

Before you watch this video, write down your definition of strategy. Pay attention to the role of strategy in achieving organizational goals. This professor has recorded many informational lectures on strategy that we cannot specifically reference in this course because of copyright issues. However, as you continue through the materials in this course, you are encouraged to do your own independent research to access other items by the professors with presentation styles that are meaningful to you.

Consider this high-level introduction to Strategic Management and its applications. Outline or take notes as you read, and pay attention to the key points identified in each section. Consider the three-legged stool explanation 5 minutes into the Kryscynski video you just viewed, especially the summary. How do the three legs compare with this book's three main processes of strategic business management?

1.1.1: Strategy

Watch this video, which challenges strategic managers to ask the right questions to build a winning business strategy. Start thinking about the metrics, strengths, weaknesses, inputs, and outputs you will need to think about your company's performance.

1.1.2: Markets

Read this short article and study the diagram. This is a good reference item identifying and defining the four basic market structures. In developing a strategy, one needs first to determine the structure the firm is competing in.

This video defines and explains competition in each market structure from an economic viewpoint. In which structure might uniqueness be the most important? In which structure might uniqueness be the least important?

As you watch this video, pay attention to the terms you've heard in your economics courses. Pause the video and review any terms that are unfamiliar to you. Can you name at least one business or service in your community that is an example of (near) perfect competition?

Watch this video for a better understanding of monopolies. Consider the current evolution of these two structures (perfect competition vs. monopoly) in an expanding global-enterprise environment.

1.1.3: Firms

In microeconomics, the purpose of every business is to make a profit. In business strategy management, this profit motive is often opposed by organization goals that bend towards social welfare or the firm's reputation. Read the section on the firm's pricing objectives. Can you identify a business that appears to promote a non-profit business goal, such as being a "green" organization?

Read this section, which serves as an overview of the strategic planning process from a market plan perspective. Various stakeholders may look to a firm to maximize different objectives. Think about how firms are in a competitive marketplace and how they can survive and thrive long term.

1.2: Strategic Hierarchy

This chart summarizes the many levels in a business that may be affected by a strategy decision. As you examine this chart, think about how each level of strategy is interrelated to the others. You must strategically manage a more complex organizational structure to be effective and efficient. Any structure must leverage each part's strengths.

1.3: Industry Analysis

1.3.1: industry classification systems.

Read the introduction, which explains how industries are categorized in the United States. This system allows governments to measure the overall business activity in each sector of the economy.

The SIC Division Structure is a list of categorizations of businesses and industries. Explore the many classifications and think about how strategies might differ among industries.

1.3.2: Porter's Five Forces

Read this section to learn the difference between internal and external forces and how they affect organizations. Attempt the exercises at the end of the section.

Read this article, which explains Porter's five forces to consider in business strategy development. This model has been the classical approach to industry analysis since the late 1970s.

This section provides an update to Porter's five forces model to account for the effect of technology on strategic management. Thoroughly read the material for this section, then exercises at the end of the section. How would you apply Porter's five forces model in the world today?

Study Sessions

These study sessions are an excellent way to review what you've learned so far and are presented by the professor who created the course. Watch these as you work through the unit and prepare to take the final exam.

We also recommend reviewing this Study Guide before taking the Unit 1 Assessment.

Unit 1 Assessment

Take this assessment to see how well you understood this unit.

• This assessment does not count towards your grade . It is just for practice!
• You will see the correct answers when you submit your answers. Use this to help you study for the final exam!
• You can take this assessment as many times as you want, whenever you want.

Once you submit your answer, evaluate it using the provided guide to responding.

Strategic Management

The formulation and implementation of a strategy

What is Strategic Management?

Strategic management is the formulation and implementation of major objectives and projects, by an organization’s management on behalf of its shareholders (or owners).

Typically, the formulation process starts with an assessment of available resources, an industry analysis to assess the competitive environment in which the company operates, and an internal operations assessment.

From this overall assessment, a strategy is then created to achieve the desired goals. Implementation of the formulated strategy seeks to steer and align the company with its main objectives.

Components of Strategic Management

#1 formulation.

Formulation includes an assessment of the environment in which the organization operates and then creating a strategy on how the organization will operate and compete. This is similar to the first step of the budgeting process.

#2 Implementation

Implementation includes the deployment of an organization’s resources to meet the desired objectives.

Frameworks for Strategic Management

#1. competitive advantage.

An organization may achieve either lower cost of production or product differentiation as an advantage against its rivals. It is important to look at the market positioning of the brand and company and also to pinpoint all the competitive advantages the company has over its competitors.

#2. Corporate Strategy and Portfolio Theory

The Modern Portfolio Theory provides a framework for allocating assets so that, for a given level of risk, the expected return is maximized. Portfolio Theory allows corporations to perform a cost-benefit analysis on the deployment of resources and view the merit of individual resource placement to the company in its totality.

The Growth-Share Matrix , developed by the Boston Consulting Group, helps corporations analyze the value of their individual business units by plotting the business on an axis. The two parameters of judgment are market share – a measure of a business unit’s competitive position in regards to its peers – and industry growth rate – a measure of the prospects of the particular industry in which the unit operates.

#3. Core Competence

Businesses should seek to develop expertise in areas of relative excellence and eliminate or outsource the remainder of its business activities. By being able to do this, an organization can provide a unique and unparalleled product, service, or perspective to the market and consumers.

#4. Experience Curve

The experience curve expresses the proposition that whenever the output produced doubles, the value-added costs decline by a consistent percentage.

Generic Competitive Strategies

Companies should concentrate their strategy on either cost leadership, focus, or differentiation. According to famed business strategist Michael Porter, if a company does not place focus on a singular factor, it risks wasting its resources. Such a strategy places emphasis on either specializing in a product or service by creating a unique selling proposition or creating economies of scale to achieve low costs of production.

Industry Structure and Profitability

The Competitive Forces Model (Porters 5 Forces) is a framework used to assess the competitiveness of the industry.

#1. Threat of new entrants

In a competitive industry, the threat of new entrants will be high. Assuming an industry or sector is highly profitable, it will be considered as an attractive business prospect by many. Some deterrents to ease of entry into a market include patents, high capital requirements, customer loyalty to established brands, and existing economies of scale.

#2. Threat of substitutes

If a product or experience can be easily duplicated with a similar alternative, the demand for that product is said to be diluted. If consumers can find similar alternative products, the industry or sector is deemed to be competitive.

#3. Bargaining power of customers

Customers will enjoy high bargaining power in a competitive market. Sellers will not be able to exert pricing pressure that will favor their profitability.

#4. Bargaining power of suppliers

When several suppliers are present to source raw or intermediary materials, they are not able to influence the final price in an unjustifiable way.

#5. Competitive rivalries

Competitive industries enjoy a high degree of innovation and evolved competitive and marketing strategies.

SWOT Analysis

SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats. This framework is employed to assess internal strengths and weaknesses, to explore the external scope of opportunities available for the business to exploit, and to confront threats presented by opponents or policies.

Value Chain

The value chain consists of a list of processes or activities that a company performs to bring a product or service into the market. The activities are divided into two functions:

#1. Primary activities

These include functions that go directly into creating a good or service. They consist of functions such as inbound and outbound logistics, operations, marketing and sales, and servicing the product.

#2. Support activities

These include functions that facilitate the production of the good or service. They consist of functions such as human resources, technology, procurement, and infrastructure.

According to Porter, aligning activities can improve the operational efficiency of an organization and ultimately create a competitive advantage for it.

Related Readings

Thank you for reading CFI’s guide to Strategic Management. To keep learning and developing your knowledge of financial analysis, we highly recommend the additional CFI resources below:

• Corporate Strategy
• CVP Analysis
• Organizational Analysis
• See all management & strategy resources

• Share this article

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143 Corporate Strategy Essay Topic Ideas & Examples

🏆 best corporate strategy topic ideas & essay examples, 👍 good essay topics on corporate strategy, ⭐ simple & easy corporate strategy essay titles, 💡 interesting topics to write about corporate strategy.

• Apple Corporate Strategy & Business Strategies Essay Given that competition is adversely affecting the market share of Apple in this industry, the company needs to be more forceful in its business and corporate-level strategies.
• Alibaba Corporate Strategy and Analysis Case Study Being an Internet-based company in the world’s largest Internet market, Alibaba has used technology to enhance customers’ purchasing power of products from different parts of the world. For Alibaba, the expanding network of both sellers […]
• Burberry Competitive Advantage: Business Strategy Analysis The internationalisation strategy has seen the company its sales volumes in the recent years despite the negative effects of the recession.
• The Netflix Corporate Strategy Over the decades, technological advancement steered the paradigm shift on the segmentation of the international market attributing to an emergence of a niche.
• Ryanair Corporate Strategy vs. EasyJet: Competitive Strategy Analysis (Compare & Contrast Essay) Ryanair enjoys a dominant market share in the European low-cost airline market because it was among the first companies to adopt this strategy in the region.
• Analysis of Google’s Corporate Strategy Nonetheless, despite the complexity of Google’s strategy, it is important to understand that the main component of the company’s strategy is advertising.
• Business Strategy Essay The organization has to define the nature of the business that is to be pursued, state a clear mission of the business, set strategic goals and the expected performance, formulate a business strategy, implement the […]
• PepsiCo Inc. International Business Strategy The company was first established in the 1890s in the state of Delaware and has since expanded over the years to become a multinational corporation.
• Corporate Social Responsibility in International Human Resource Strategy This means that the application of CSR in the global business environment is likely to increase in the future. In a nutshell, incorporating CSR in human resource management is beneficial to the firm and all […]
• Marks & Spencer Irish Business Strategy The absence of a business strategy that would have helped the organization to become instantly recognizable and gain the trust and support of new customers is the main contributor to M&S’s failure in Ireland. The […]
• McDonald’s and Its Blue Ocean Business Strategy In contrast to the blue ocean, in the red ocean there is so much input but the profits keep on reducing because of the bloody competition.
• Royal Caribbean Company: Business Strategy Analysis The same broad business strategy has seen the company offer multiple cruise packages to suit the needs of different types of clients.
• Jaguar Land Rover Business Strategy and Ethics This study evaluates the internal and external environments using different tools and techniques, including the PEST and four corners models to study the impact of CSR in line with the Jaguar Land Rover business strategy.
• Business Strategy About Blackberry The management of BlackBerry has been struggling to expand its telecommunication services to various parts of the world beyond North America.
• Irene Rosenfeld at Mondelēz International: Corporate Strategy The CEO of Mondel z International has managed not only to introduce a positive change to the corporate setting but also to cement the specified alterations with the help of her global vision and the […]
• Tesla Inc.’s Business Strategy Analysis The significance of the reference to the 21st century is in the company’s intention to address the issues the new age brings first and foremost, the environmental situation.
• Delta Air Lines’ Business Model and Strategy The VRIO framework is the tool to be used to comprehend if the company under analysis succeeds in choosing actions, articulating its goals, and making the decisions that influence the quality of life of the […]
• Majid Al Futtaim Properties LLC: Business Strategy In addition, it has cinema business with more than 180 screens across the MENA region; it generates the highest profit from the operation of the national market; at the same time, Egypt, Bahrain, and Qatar […]
• Business Strategy – Haier Group The analysis has indicated that in devising a business strategy, it is vital to understand the internal and external factors of a business.
• Southwest Airlines Business Strategy One of the factors that have made the airline succeed under the low-cost structure entails the usage of the Boeing 737 as the company’s aircraft type.
• Nail Salon’s Business Strategy In spite of the fact that the new business can become an efficient competitor to La Belle Nail Salon, it is more relevant to purchase the existing business and use the selected strategy in order […]
• Nike Company Corporate Structure and Strategy This is why in order to stay competitive and hold the positions in the business arena the companies have to be flexible, and the managers need to frequently come up with ideas for changes in […]
• Business-Level Strategy: Alibaba On the other hand, the grand strategy of Alibaba is to expand its market in the future and get as many users as it can.
• Business Level Strategy and TOWS Matrix of Google To curb these competitors, the company has also employed a grand strategy of product development from time to time to rebrand its products and services so that they remain appealing and attractive to their customers.
• Volkswagen Business Strategy During Crisis The actions of VW have a number of consequences. For the environment, this fraud means that the actual emission of the harmful NOx has been much bigger than expected.
• The WRSX Group’s Business Strategy The formulation of the appropriate strategic objectives, the maintenance of sound interrelations and communication between the organisational units, goal-oriented execution, elaboration of tactics for the strategy implementation, and the level of employees’ commitment influence the […]
• Google Business Strategy The search engine is the main business of the firm. Google has built its business through the differentiation strategy of its core business, which is the search engine.
• Google Inc.’s Business Strategy and Company Analysis Google was founded in 1996, and in 11 years become one of the leading search engines and advertising companies in the world.
• International Business Strategy International business strategies are the policies that are laid down to govern and harmonize international businesses, which have become the order of the day in the world we are living in.
• Southwest Airlines: Point-To-Point Business Strategy The company had to increase its charges for both domestic and international services in order to survive in the industry. Another problem is the current security threats that face the company and other players in […]
• Ford Motor Company’s Human Resource and Business Strategy Therefore, Ford should provide all employees with an explanation of the benefits that diversity brings to them and the company. According to the One Ford truth of Ford’s corporate culture, all company employees should rely […]
• The Emirates Group at the Beginning of 2014: Business Strategy The key goal for the Emirates Group for 2014 is increasing the number of customers by 50% by 2015. The subsequent goal is raising customers’ awareness concerning the EG benefits.
• Aramex: Aligning Supply Chain With Business Strategy Alignment of the Aramex’s supply chain management with strategic goals of the company compels it to embrace the perspectives of sustainable supply chains.
• Citibank’s E-Business Strategy and Competences Citibank has incorporated the use of e-business in its operation so that it can meet the needs of its customers and to withstand the market pressures which have been changing drastically.this paper has established the […]
• Fragrance Villa: Business Strategy Fragrance Villa intends to be among the top ten perfume retailers and wholesalers by the end of its third year of operations.
• British American Tobacco Company’s Corporate Strategy The objectives of the company include increase of its products that is its brands, building worth of its dealing, enhance efficiency in production, and to implant the main beliefs of corporate social responsibility in all […]
• What Is Business Strategy? Evaluation of the repercussion of decisions that are left out in the development of the main strategy helps to eliminate cases of failure.
• International Business Strategy: Nestlé S.A. The institution-based view is a type of international business strategy that encompasses the elements of industry-based and resource-based strategy, as well as adding the analysis of societal differences and cultures added into the mix.
• Ericsson Telecommunications Company Business Strategy Analysis It analyzes the attributes of strategic change that took place in the company during the 1980s and illustrates how the elements of strategic innovation may surface from the periphery of a company. In terms of […]
• Etihad Airways’ Business Environment and Strategy The recognition of Etihad Aviation Group’s excellence by the international community indicates the strong position of the organization in the industry.
• Business Strategy’s Effect on Total Compensation The total compensation system of each firm depends on the chosen business strategy as it determines the organization’s finances, human capital needs, and staff performance.
• Cisco Global Business Strategy One of the major strategic challenges that the company is facing is the fact that sales in the USA market are declining as time goes by.
• Lego Company’s Business Strategy and Information Resources In this paper, a business model for Lego will be developed regarding the business strategies and the information resources the company could use to stay competitive and successful in front of the existing technological and […]
• Southwest Airlines’ Corporate Strategy In my view, SWA’s core competencies lie in the measures to contain operational costs, focus on customer service, and innovative HR practices.
• General Electric’s Corporate Strategy Analysis The firm is also organized to exploit its strategy. GE embraces modern practices in order to conserve the natural environment.
• Lenovo: The History and Corporate Strategy In order to have good reputation on the market the firm is planning to enter, it is better for it to narrow the range of the manufactured products and to concentrate on the development of […]
• Esprit Company: Business Strategy Esprits casual should be of designer quality for the young. The brand image should also be impressive to the middle age and the learned.
• The Business-Level Strategy of Starbucks The mission of Starbucks Coffee Company is to “inspire and nurture the human spirit, one cup and one neighbor at a time”.
• New Balance Focus to Develop an Integrated Corporate Social Responsibility Strategy It is possible that in the process the image of the company improves but the major objective of the company is not marketing.
• Harpers Ferry’s Digital Business Strategy The ambitious Harpers Ferry wants to increase the number of excursions and activities available to meet the different needs of visitors. The value proposition of the city is vast and varied, which is of interest […]
• The Epix Firm’s Managerial Economics and Business Strategy Currently, the subscribers in the movie channels are price sensitive and less likely to see the value of the new program tiers or media channels.
• External Influence on Walmart’s Corporate Strategy Walmart Inc, as one the largest retailers in the US, cannot ignore all of the mentioned forces to stay afloat and prosper as a business. During the pandemic, Walmart has started to be seen as […]
• Chipotle Mexican Grill: Business Strategy The continuous opening and closing of the Chipotle restaurant chains indicated a failure to curb the gap of eradicating the issue, which deterred customers from returning.
• The Johnson & Johnson Firm’s Corporate Strategy In the light of the recent complications in the Johnson & Johnson company’s reputation due to the lawsuits addressing product quality and its effect on human health, a shift in corporate strategy implementation is required.
• ETA’s Swatch’s Business-Level Strategy Understanding the genuine value that a product holds for its customers is the core of a firm’s proper competitive placement. The second part of ETA’s strategy in revolutionizing its Swatch brand was to differentiate products […]
• The General Motors Firm’s Business Strategy Therefore, it is crucial to create the pyramid of GM employees’ needs:   It is also essential to motivate people and maintain collective employee morale.
• The Business Strategy Elements and Principles According to Collins and Rukstad, it is critical that managers determine a specific competitive advantage since it is the primary means of achieving goals in business.
• The Business-Level Strategy of Du Company In 2006, the company entered the market dominated by Etisalat to prevent the telecom monopoly in the country. Since 2006, Du has been actively increasing the quality and scope of its products, which has allowed […]
• Business Strategy for a New Organisation in the Kingdom of Saudi Arabia By narrowing its business focus to being a subcontractor, the tour and travel agency will fit in Ionica’s description of how such agencies operate.
• Fun Times Mobile Application’s Business Strategy It can be argued that there is still plenty of activities that can be done to further the sub-section of stand-up comedy in the entertainment industry in the UK.
• The Grill-Café-Club MONO’ene’: Business Strategy The aim of the business plan is to bring a coordinated effort to the new enterprise, adjusting and balancing its resources, and producing programs of logical action.
• Dubai Coffee Experts: Business Strategy It is important to define the objectives given that the decision has been made about starting a coffee shop in the city of Dubai.
• Corporate Strategy of JSC Katavsky Cement JSC Cement is one of the most influential Cement companies in the region. Its technical aspects are also lacking in that the company’s fuel and electricity usage must be monitored by the installation of a […]
• Airline Business Approach to Corporate Strategy In improve the present situation, it is necessary to consider the new strategies and the way they influence the plane industry and services.
• Business Strategy in Profit-Making Process The primary resource for this strategy and its implementation is an understanding of its importance and significant experience in improving and realisation of it within the scope of the business model of the company.
• Express Scripts Company Business Strategy Express Scripts have an advanced technical support team and have even gone to great lengths to offer resources such as PDFs on “Tips for Using the Express Scripts Call Center and website” to clients and […]
• Xerox Business Strategy: Benefits and Disadvantages In order to encourage the managers and employees in following and implementing rules and guidelines, the human resource professionals should introduce awards to companies which follow these directions and reprimand those who do not.
• Business Strategy: Mountain Bank The paper will also discuss the cooperate responsibility of employees in the bank: the employees have a responsibility to ensure that they provide better services to customers in order for the bank to market itself […]
• JetBlue Airways Business Strategy At Jet Blue airline, Neeleman, the CEO and president of the airline, stresses on the importance of customers who forms the bulk of their business.”JetBlue is true to its business model, in which it promises […]
• Pfizer’s Strategy and Knowledge Management As the government continues to support efforts to have more participants in the provision of health for the people, the barriers to enter the industry are being minimized and this is exposing Pfizer to more […]
• Reevaluating Business Strategy to Succeed: Merck & Co. The following questions allow us to analyze the Merck strategy and discuss the main challenges faced by it in the implementation of a new strategy and also discuss the application of strategy development and implementation […]
• Business Strategy: China and Yahoo China is a populous country which can make up a good portion of the overall profit as the probability of selling there is quite high.
• Watani: E-Business Strategy In order to assess the efficiency of the methods used by the management of this organization, it is necessary to pay extra attention to such criteria as the degree of customization, the accessibility of products, […]
• Importance of Business Strategy in Companies It is a plan created from a reasoned analysis of the current market, competitors and the company plus an extrapolated vision of the future based upon current trends.
• Understanding Business Strategy The company can use environmental mapping as one of the techniques intended to capture the key characteristics of the environment in which the business operates.
• Corporate Strategy and Management in Business The process of strategic analysis is one of focusing down layer by layer’ to develop a clear understanding of the factors which effect the corporate and the market in which it operates.
• Business Strategies – Transnational Strategy The advent avails low cost and high speed for business and other individuals based on universal capability for instantaneous and low-cost communication with very high flows of information and a high degree of independence from […]
• Corporate Strategy and Applications of Methods Through this, companies will be able to secure market for their products because no other competitors are providing the same services The use of the proactive element by continuously reviewing and improving the standard of […]
• Business in Saudi Arabia: Optimal Exit Strategy and IPOs vs. M&A When a firm is faced with the reality of exiting a given market, Ramady argues that it is important to choose the optimal strategy that would protect the interest of stakeholders.
• Costco Wholesale Corporation’s Business Strategy & Policy The retail industry is one of the most competitive sectors of the economy not only in the United States but also in other parts of the world.
• General Electric Conglomerate’s Corporate Strategy Due to the focus on diversification of its products and the use of a well-developed, vertically and horizontally integrated supply chain, the organization is likely to succeed in the global market.
• Atrium Health Organization’s Corporate Strategy Therefore, the rationale that the managers at Atrium Health use to guide staff members and align their actions with the corporate goals as a part of the grand scheme of the company’s functioning is to […]
• Family Business, Its Philosophy and Strategy In this regard, the leader may be confused because of the need to react in the most proper way to benefit both the family and business.
• Boston Consulting Group and Brown Bag Films: Business Strategy Boston Consulting Group Matrix is a two by two matrix that was developed by the Boston consulting group to help businesses understand the different investment opportunities among its portfolio of activities with regards to growth […]
• Finding the Right Corporate Legal Strategy The article, based on the analysis of legal functions in firms like Nokia, Disney, and Microsoft, suggests a framework for developing the right legal strategy for a company.
• Business Strategy for Promoting a Promising Market Emphatically, the deliberation on the market performance is conducted with the context provided below: A summary of Period 0 situation for Firm ‘A’ and employed an initial strategy; Firm A’s performance objectives and actual performance; […]
• Work-Life Programmes in Business Strategy In a business world that is exemplified by high levels of competition, it would be prudent for management teams to focus on understanding various work and life issues that could impact their staff.
• Amazon Company’s Corporate Strategy One of the major characteristics of Amazon’s corporate strategy is the company’s strict orientation toward the needs of consumers. The aforementioned losses resulted in the occurrence of additional threats to Amazon’s business.
• Lululemon Company: Business Strategy Since the latter is recognized as a violation and is subject to punitive actions, it is to be excluded from the preferred strategies.
• Information Technology and Business Strategy Gap As previously noted, the business IT gap may originate from a failure to communicate effectively between the business and IT departments.
• International Business Strategy: Institution-Based View Again, China is a good example, as it does not have the same concept of IP as the western countries The competitiveness of a country in an industry is in many ways determined by the […]
• Ramada Plaza Hotel’s Business Strategy Analysis Considering that the hotel provides unique services and products to a specified niche market audience, the threat of substitute is low.
• Business Strategy Constituents The strategy is the plan of action, the business perspective, the firm’s strategic positioning as well as pattern and direction the firm would like to follow in order to attain the desired objectives.
• IKEA Strategic Management and Branding in the US The compatibility between IKEA’s products and similar goods that were manufactured in the US was the major problem that hindered the success of the company in the American market.
• Institutions in the Context of Business Strategy A cognitive pillar in the context of business strategy defines the organizational propositions and values that govern the internal and external environment of a firm.
• Singhania and Partner Company’s Business Strategy The managers consider the contribution that an employee makes to the firm. The firm has adopted the latest technology and infrastructure to manage its business.
• JetBlue Airways Corporation’s Business Strategy The destinations are not limited to the US, and the general public has an opportunity to refer to JetBlue when flying to Mexico, the Dominican Republic, the Bahamas and other places.
• Co-Opetition as a Business Strategy Co-opetition is a term that refers to a business strategy whereby competitors in the same business simultaneously engage in competition and cooperation with the aim of gaining more business advantage.
• Axel Springer SE: Corporate Strategy and Business Environment The Strengths- the notable strengths that contributed to the survival of the Springer Company in Europe include its longtime market reputation, its effective marketing techniques of the paper and digital media, and its powerful management […]
• BP Energy Company’s Business Ethics and Strategy This essay reviews the ethical issues involved in the strategy of the BP Energy Company with the special reference to the April 20 explosion of Deepwater Horizon offshore drilling rig.
• Customer Service as a Part of Business Strategy The use of the term “customer service” requires delineation to ensure that there is not confusion with other aspects of customer care in the business. The important issue in regards to the definition of customer […]
• Google Inc’s Corporate Strategy Due to dynamic and competitive nature of technology market, Google endeavours to articulate its vision and mission in a bid to align to recurrent market forces.
• HP Corporate Level Strategy To indentify HP diversification strategy, it is imperative to analyze the major products and services offered by the company. Some of the diversifications are related to the product that HP specializes in and they are […]
• Corporate Brand Image and Strategy The brand of a corporate is extremely important in an organization; it is directly connected to alternative entities and brands. As far as success in an organization is concerned, it is important to consider the […]
• Corporate Responsibility as a Business Strategy The entry mode requires that the Banyan tree hotels and resorts form an alliance with similar firm in the foreign country in order to attain the greater position in the market.
• Business Ecosystem as a Strategy All the companies involved in the manufacturing and distribution of a product form a business ecosystem. The productivity of a company can be used to determine how healthy a business ecosystem is.
• Universal Agencies Company Changes in Business Strategy To achieve this I need to carry out a research on what the employees would expect if a change was to be implemented, the benefits and the challenges that are expected to come with the […]
• Comparison of Adam Smith and Albert Carr’s Views on Business Strategy The distinction between a normal choice and an ethical one is that the latter requires one to exercise the duty of weighing virtues and arriving at a judgment in a case that is unique from […]
• Global Business Strategy: United Parcel Services The name UPS was rebranded in 2003 with the aim of showing the world its intentions to be the world largest and most efficient supply logistic service provider in the world.
• Business Strategy: ConocoPhillips Alaska The approach relies on the interpretation of the company’s mission and vision, in addition to the use of internal and external business analysis tools as summaries in the company strategy summation in the next section.
• Aramex International Business Strategy In the Arabian Gulf, Aramex has become the company of choice in the logistics and other related services. The company aims to repeat its model used in the Gulf region in the other parts of […]
• Business Strategy: Clipboard Tablet Co. As the company moves into the future, there is a need to review strategies deployed in the past to move the company into the future.
• Business Strategy of IKEA, Dell, 7-11 Companies Sustainability of businesses depends upon the ability of the firm to supply the right quantity of goods with high quality to the right customer base at the right time.
• Power Water Corporation (PWC): Compiling a Business Strategy Analysis of internal capabilities based on McKinsey’s 7’s of strategy and the balanced scorecard concept In this section, the author decided to apply the theoretical frameworks derived from the above change diagnostic and measurement tools […]
• Managing Business Strategy of Apple, Inc. The analysis of the strategic direction of Apple, Inc.clearly address the issues that are facing the organization and analyze the situation by the means of applying the concepts and tools taught in the leading to […]
• International Business Entry Strategy The paper also observes the organizational systems and the controls that the company may adopt to succeed in the new market.
• Business Strategy Formulation and Utilization The first part of the paper focuses on the process of analyzing internal and external environment of the firm. Additionally, the strategy will help the firm to mitigate the negative impacts of threats in the […]
• Shaping a Business Long-Term Growth Strategy Through differentiation, it is possible to determine the quality of a product which is supposed to be proportional to its price. In the first stage, it would be necessary to determine the fees required for […]
• Green Business Strategy Approach The adoption of this plan will enable the community and management of Princeton Mart to work collaboratively to protect the environment and responsibly utilize the natural resources through an elaborate environmental stewardship program.
• Enabling Business Strategy With IT at the World Bank The decision to incorporate advanced information technology services in its operations was one of the main strategies of achieving the objectives and fulfillment of the mandates of the bank.
• Business Strategy Pepsi SWOT Analysis The economic forces which influence the company development include the purchase power, the rate of unemployed and the interest rates in the organization.
• Global Business Strategy: SAS Also the company’s strategized connection of all its flights to European and Asian hubs which helped in the process of facilitating passenger flights, SAS connected its flights to most of the secondary hubs which gave […]
• Verizon Mobile Service Provider Business Strategy Additionally, the report founded that Verizon communication is the core owner of world’s largest infrastructure of next-generation information technology infrastructures, one of the telecom industry pioneer in providing CDMA and GSM wireless services in the […]
• Business Innovation and Strategy Technology can be used in new ways to ensure that these innovative ideas are implemented in the beauty and cosmetics industry, hence enhancing the competitive advantage of the business.
• Computer-Based Information Systems and E-Business Strategy The following are the information needs of the three categories of managers. The adoption of an e-business strategy is likely to affect the information systems function of a company.
• Zara’s Business Strategy and Market Approach Lastly, if a company started out in the low-end of the market, changing its strategy to become more fashion-driven may confound the company’s image and thus cause buyers to look elsewhere; this is what happened […]
• Business Strategy and Competitive Advantage To recap it all, it is vital to reiterate that an excellent business strategy should be in a position to meet the market demand and the intended purpose.
• Corporate Social Responsibility Strategy Development Both the customers and the suppliers would see the firm as a member of the society who is concerned with a positive transformation of the society.
• Business Strategy of Blue Nile INC Through its high quality products and state of the art services, the company has been able to satisfy the needs of its customers.
• Cultural Aspect as the Peculiarity of the Successful Business Strategy of Multinationals in Foreign Countries THESIS: An adaptation of the corporative culture of the international company to the national traditions of a foreign country is necessary for business development.I.
• Business Strategy for EasyJet I would like to point out that strategic tools of the company are to be improved due to ICTs. It means that the company is to cooperate with various partners.
• Role of Mergers and Acquisitions in Achieving a Corporate Strategy – InBev As a result, it should be noted that it was a good corporate strategy for the CEO of InBev to invest in the acquisition of Anheuser-Busch Company at the time.
• International Business Strategy: Chery Automobile Company At the same time, it is established that firms from developing economies prefer strategic alliances as a way of being uncertain of foreign environment, intend to reduce costs and risks, and strategy to learn and […]
• Business Strategy Concept Approaches Referring to the peculiarities of the emergent approach as the ‘hustle as strategy’, Bhide affirms the critical importance of this approach to strategy in a financial services business firm.
• Cisco Company’s Corporate Strategy The vision is “to be the Best in Class for Cisco’s Investors and Analysts and to be the Strategic Partners for Management”.
• Wal-Mart Warehouse: Business and Supply Chain Strategies The role of these trucks is to transport goods and merchandise from the company’s warehouses to the respective retail centres which are regarded as customers of the warehouses.
• Google Corporation’s Efficient Business Strategy The Company’s success is attributed to factors such as Google’s design to suit the final user and its simplicity in terms of design that has attracted many internet users over the years.
• Schneider National Business Strategy In order to win the satisfaction of the customers on the new system, the company had to ensure that their representatives understood how it functioned.
• Branding as a Significant Business Strategy On the same note, the success of a given brand may not be attributed to the brand of the company that manufactured the product.
• Growth Strategy Titles
• HRM Research Ideas
• Information Management Paper Topics
• Managerial Economics Essay Topics
• Performance Management Ideas
• Business Structure Titles
• Talent Management Questions
• Business Intelligence Research Topics
• Chicago (A-D)
• Chicago (N-B)

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Strategic Planning: How to Write a Strategic Plan That Works

Learn the essential steps to writing a strategic plan that delivers real results and aligns with your business objectives. Contact us for more information!

Strategic planning is essential for any organization aiming to achieve its long-term goals and sustain growth. ClearPoint Strategy offers a powerful platform that streamlines the strategic planning process, making it easier for your organization to develop, implement, and monitor your strategic initiatives.

See ClearPoint Strategy in action! Click here to watch a quick DEMO on the software

“Why isn’t my strategy working?”

Statistics around the failure rates of corporate strategies vary—some put it as high as 9 out of 10 while others say nearly 7 out of 10.

It doesn’t matter which number is right; both estimates are higher than they should be. That means the majority of organizations are floundering when it comes to crafting and executing their strategy. Many executives, when faced with these stats, are wondering, “How do I avoid coming up short in my strategy?”

But don’t worry—these abysmal statistics don’t mean you’re doomed to failure. You can be in the small percentage of businesses that actually achieve the goals in their strategic plans, and we’re here to tell you how. (You’re already a step ahead of your competitors simply by taking the time to research the problem!)

Over the years, we’ve helped hundreds of clients beat the odds using the steps outlined in the guide below. It covers everything you need to know about strategy planning and execution, from beginning to end, in each of the three critical phases:

• Preparing for strategic planning
• Creating your strategic plan
• Putting your strategic plan into practice

Based on our experience, we know that following this three-phase approach will significantly increase your odds of getting high-quality results. ‍

So let’s get started.

What is Strategic Planning and Why is It Important?

Strategic planning is an organization's process of defining its direction and long-term goals, creating specific plans to achieve them, implementing those plans , and evaluating the results. On one hand, that definition makes strategy planning sound like a Business 101 concept—define your goals and a plan to achieve them. Unfortunately, the strategic planning process isn’t as straightforward as it seems, especially for large companies.

Some experts say there’s a simple explanation behind the dismal statistics mentioned above: companies are failing to strategize at all. They may talk a good game and be able to explain an innovative new mission, but they cannot articulate the processes and business models that will make it happen.

As a result, nothing about their way of doing business—including their priorities, projects, or culture—changes. Months or years later, strategic leaders are left wondering why the company never achieved what was intended.

This absence of a strategic plan demonstrates why having one is so important.

The strategic planning process is about looking forward, outside the immediate future for your organization, to reach a particular set of goals. But as noted in the definition above, it also involves laying out—step-by-step—how you’re going to get there. Without this foundation in place, you’ll either continue on a path to nowhere, or get caught up in a tornado of urgent activities that may not actually benefit your organization in the long term. Neither of these scenarios will give you the competitive edge you hoped for.

Why Strategic Planning Fails

There are also plenty of organizations that do take steps to fulfill the requirements of strategic planning, yet still fail to see results. These strategies fail for many reasons, including:

• Lack of communication : This is a big one. Research shows that 95% of most companies’ employees don’t understand their organization’s strategy, and 85% of executive leadership teams spend less than one hour per month discussing strategy.
• Poor research around customer trends, organizational threats, and market opportunities : Companies tend to spend more time on internal issues (resolving conflicts and reconciling budgets) than they do analyzing important external information.
• Lack of management support : Organizations neglect to rally support for middle managers, who are key to making sure strategy is executed on a daily basis.
• Ineffective or inefficient performance evaluations : Organizations dedicate all their time to coming up with a plan, but either forget to follow through by tracking progress or have no organized, reliable way to track performance data.
• Lack of clear priorities : Organizations try to do too much at once and/or fail to identify the right activities that will help them achieve their strategy.
• Insufficient resources : Companies don’t acquire new resources, or shift existing resources, to support identified priorities.
• Disjointed departmental goals and activities : There’s no alignment of departmental goals with organizational strategy. Without everyone working together, goals become more difficult to reach.

Whatever is preventing you from meeting your strategic goals—whether it’s the absence of a strategic plan altogether or an imperfect plan execution—it’s worth your time to address the issue.

Analysis has shown that strategic planning has a positive and significant impact on organizational performance. Most importantly, it enhances an organization’s ability to achieve its goals, but there’s more to it than that. Because strategic planning forces companies to adopt a long-term view, it helps them better prepare for the future, setting them up to initiate influence instead of just responding to situations.

It also strengthens communication between employers and employees. The participation and dialogue that takes place among managers and employees throughout the strategic planning process improves transparency and engagement on everyone’s part.

However, the same team that conducted the above analysis also noted that, for strategic planning to work, it requires some specific ingredients, including formal analysis of the internal and external environment, consideration of several strategic options, and careful consideration around whom to involve during the different steps of the strategic planning process. We’ll go through all these ingredients—and more—in the strategic planning guide that follows.

Claim your FREE eBook on 8 effective strategic planning templates here

1. preparing for strategic planning, - gather your team, set up meetings, and create a timeline, get the right people involved.

Let’s get one thing straight right now: If your organization has turned to you (or your department, a colleague, etc.) and requested that you “make a strategic plan and then report back to the leadership team when you’re done”—stop right where you are. That’s not an effective plan. Why? You need to have buy-in across your organization, and so you need leadership involvement from the beginning.

Now let’s talk about the major player needed for this process: The strategic planner. The strategic planner’s job is to align thoughts from the leadership team with a process the organization can use to execute on their strategy. If this is your role (or even if you’re just highly involved in the process), this guide will be immensely helpful as you navigate the coordination of the strategy.

The strategic planner will also need the help of a cross-functional team that involves members of the board or leadership, along with representatives from finance, human resources, operations, sales, and any other critical functions. We’ll discuss this further when we talk through the Office of Strategy Management.

Set up your strategy review meetings

This is also a good time to think about your strategy review meetings, which are a necessity for staying on track over the long haul. However, try to avoid adding yet another meeting onto everyone’s plates; instead, there may be a current meeting you can replace or redesign to make time for strategy discussion.

For now, decide how often you’ll meet and who should be involved. As for timing, there are three types of strategy review meetings:

• Monthly , where you review progress on projects and initiatives
• Quarterly , where you review progress on strategy and discuss key action items
• Annually , where you review year-to-date performance and adjust the strategy as needed

For each of these, you’ll want to send out calendar invites in advance and make sure people know these meetings are a top priority.

Monthly meetings typically include department heads and subject matter experts. Quarterly review meetings may include department heads and upper management. Annual refresh meetings may include upper levels of management and occasionally board members.

Download your FREE 40-page eBook to lead effective Strategy Review Meetings

Create a reasonable timeline.

Next, you need to work out a timeline in which you can complete your strategic plan and move through the process. Reasonable is the key word here, as that depends on your organization’s maturity level with regard to strategic planning.

• If you refresh your strategic plan every year, you might be able to work through this process in 4-5 weeks .
• If you’ve never done strategic planning before, 6 months could be more realistic.

Whatever the case, don’t expect this to be done by the end of the week. You’ll be disappointed.

It’s important to understand strategy vs. tactics . Strategy is focused on the destination and how you are going to get there, and tactics are focused on the specific actions you plan to take along the way.

So while this whole process is focused on your overall strategy (i.e. your long-term goals and how you’ll achieve them), we’ll be placing a lot of emphasis on the smaller steps (i.e. practices, resources, initiatives) you’ll take to get there. Make sure your leadership team knows the difference between strategy and tactics going forward!

Sometimes it is smart to keep leadership out of the tactics, but other times, you might need a strong hand to guide the organization through some details.

- Gather the inputs to your Strategic Plan

Get appropriate background information for your strategic plan.

Now it’s time to dig into your internal and external information.

• Internal inputs : Do you know if one branch of your business is growing faster than another? If so, does this mean you’ll focus more energy on the faster growing area, or shift to help the underperforming areas? These are key questions you’ll have to assess. ‍
• External inputs : You may find that parts of your business have shifted, or outside factors are playing a role in where your business is headed. For example, in the late 1990s, the music industry evolved from albums to streaming, impacting many businesses who were associated with the industry. Or if you’re in the manufacturing industry and do a great deal of business overseas, political unrest or a trade dispute between your country and the foreign one you operate in could impact your strategy.

Once you’ve gathered up the quantitative data from the sources above, you’ll also want to get feedback from a number of different sources:

• Discuss the above findings with your leadership team and managers to see what their thoughts are about the future of the business.
• Talk with board members, customers, and industry experts to see what they think your organization is doing well and what needs improvement. These suggestions could deal with anything from operations to company culture.

Combined, all of this data will help you get a better grasp on the future of the business.

‍ Don’t reinvent the wheel—use our assortment of strategic planning templates to get your strategy up and running more easily. See our most popular templates here.

‍ A SWOT Analysis stands for Strengths, Weaknesses, Opportunities, and Threats. This exercise offers a helpful way to think about and organize your internal and external data.

• What are your organization’s strong points?
• What are your organization’s weak points?
• Where are your biggest opportunities in the future?
• What are the largest threats to your business?

Sometimes it is helpful to use the SWOT analysis framework to organize your interview questions for your qualitative data gathering.

‍ Porter’s Five Forces is another tool used to find these inputs. It’s a time-honored strategy execution framework built around the competition in your industry. Who are your rivals? What are they doing? You then need to look at the threat of substitutes. Is there another product consumers could purchase instead of your industry’s product, for example, substituting natural gas or solar for coal when it comes to electricity generation?

Now that you’ve prepared for your strategy...

• You have a team of people who can help you with the strategic planning process.
• You have the raw material for strategy evaluation, including internal and external data.
• You can organize your raw data into a SWOT analysis, Porter’s Five Forces, or another strategy planning framework as you begin to create your strategic plan.

Pro tip You may have researched risk assessments, core competencies, scenario planning, or industry scans as part of your strategic planning. If you’re wondering where these tools fit, they’re all relevant to this first stage of strategic planning. They help you prepare to create the strategic plan. If you have worked through one of these tools before, the results can act as inputs to help you in the next stage.

2. Creating your strategic plan

You now have all the background information necessary to create your strategic plan! But this plan doesn’t live in a vacuum—so we’ll start by revisiting your mission and vision statements and then get into the nuts and bolts of the planning process.

- Confirm your mission and vision statements.

Mission & vision.

If you haven’t created formal mission and vision statements, this is the time to do so.

• Your mission statement describes what your company does and how it is different from other organizations in your competitive space
• Your vision statement describes a future state of what your organization wants to achieve over time.

Where the mission is timeless, your vision is time-bound and more tangible.

‍ Two tools that will help build your mission and vision statements:

• OAS statement : OAS stands for Objective, Advantage, Scope. Talking through these concepts as they apply to your organization will help formulate a vision that is tangible and interactive. Note that while this exercise may be helpful to you, it is optional. You can read more about creating your OAS statement here .
• Strategic shifts: A second tool some people find helpful is called Strategic Shifts. These are exercises for the leadership team to help them define today’s strategic priorities vs. tomorrow’s . For example, your leadership team may say, “We want to shift from central control to autonomy when it comes to our decision-making capability.” If the whole team can get on the same page with these shifts, it can help tremendously once you define your objectives, measures, and projects.

If you’ve already created mission and vision statements, confirm that both are aligned with your current strategy before proceeding to the next step.

During your search for strategic planning tools, you’ve almost certainly come across a Strategy Pyramid (shown below). This pyramid can be visualized in countless different ways, the order of the pyramid isn’t what’s important. The importance lies in ensuring you’ve chosen the elements in the pyramid that work best for your organization, and making sure those components are going to help you achieve strategic success.

- Build out your five-year plan

Develop the framework that will hold your high-level priorities.

You can use your OAS or Strategic Shift exercises to help you define your priorities and objectives—but more importantly, you need a way to manage these elements. The way to do that is by selecting and developing a strategy management framework that will bring all your priorities together in one cohesive format.

Using a framework such as Balanced Scorecard (BSC), Theory of Change (TOC), or Objectives and Key Results (OKR) is critical to your strategic success. Many management teams fail at this point simply because of their disorganization!

Note: Choose only one of these three frameworks, as they have numerous similarities!

The Balanced Scorecard

The Balanced Scorecard , developed by Robert S. Kaplan and David P. Norton, has been one of the world’s top strategy management frameworks since its introduction in the early 1990s. Those who use the BSC do so to bring their strategy to life, communicate it across their organization , and track their strategy progress and performance.

‍ The BSC divides up your objectives by perspectives—financial, customer, process, and people—and themes, like innovation, customer management, operational excellence, etc. (The idea of perspectives is fully developed in Norton and Kaplan’s book The Balanced Scorecard: Translating Strategy into Action .) Here’s an example:

• Financial goals —“What financial goals do we have that will impact our organization?”
• Customer goals —“What things are important to our customers, which will in turn impact our financial standing?”
• Process goals —“What do we need to do well internally, to meet our customer goals, that will impact our financial standing?”
• People (or learning and growth) goals —“What skills, culture, and capabilities do we need to have in our organization to execute on the process that would make our customers happy and ultimately impact our financial standing?”

For an in-depth look at how your organization could use the BSC, check out this Full & Exhaustive Balanced Scorecard Example .

Claim your FREE Balanced Scorecard Excel template for better strategic management

Theory Of Change (TOC)

The Theory of Change is a logic model that describes a step-by-step approach to achieving your vision. The TOC is focused on how to achieve the change you’re looking for , and is popular amongst mission-driven organizations who are describing a change they’re making in the world instead of putting change in their pockets.

The idea behind TOC is that if you have the right people doing the right activities, they’ll affect change on your customers, which will impact your financials, and bring you closer to your vision. A great example of a this theory of change is the nonprofit RARE .

According to the Harvard Family Research Project , the steps to create a TOC are:

• Identify a long-term goal.
• Conduct “backwards mapping” to identify the preconditions necessary to achieve that goal.
• Identify the interventions that your initiative will perform to create these preconditions.
• Develop indicators for each precondition that will be used to assess the performance of the interventions.
• Write a narrative that can be used to summarize the various moving parts in your theory.

Objectives & Key Results (OKR)

OKR was originally created by Intel and is used today in primarily two ways: At the enterprise/department level and at the personal performance level.

• Objectives are goals.
• Key results are quantitative measures that define whether goals have been reached.

Claim your FREE Excel OKR template to set and achieve key objectives here

The idea is that your defined objectives and measurements help employees, managers, and executives link to and align with overall strategic priorities. Not only does OKR strive to measure whether objectives are successful, but also how successful they are.

Define your objectives, measures, and projects.

‍ The strategic planning frameworks above are all meant, in different ways, to help you organize your objectives, measures, and projects. So it’s critical that these elements are well thought-out and defined.

Here’s how objectives, measures, and projects interact:

‍ You have a high-level goal in mind—your objective. Your measures answer the question, “How will I know that we’re meeting our goal?” From there, initiatives, or projects, are put in place to answer the question, “What actions are we taking to accomplish our goals?”

‍ We’ve defined each of these concepts more thoroughly below with a few business strategy examples:

• Objectives are high-level organizational goals. The typical BSC has 10-15 strategic objectives .

Examples include:

• Increase Market Share Through Current Customers (Financial)
• Be Service Oriented (Customer)
• Achieve Order Fulfillment Excellence Through On-Line Process Improvement (Internal)
• Align Incentives And Rewards With Employee Roles For Increased Employee Satisfaction (Learning & Growth)
• Measures help you understand if you’re accomplishing your objectives strategically. They force you to question things like, “How do I know that I’m becoming an internationally recognized brand?” Note that while your measures might change, your objectives will remain the same. You may select 1-2 measures per objective, so you are aiming to come up with 15-25 measures at the enterprise level.
• Cost Of Goods Sold
• Customer Satisfaction & Retention
• Percentage Of Product Defects
• Percentage Of Response To Open Positions
• Initiatives are key action programs developed to achieve your objectives. You’ll see initiatives referred to as “projects,” “actions,” or “activities outside of the Balanced Scorecard.” Most organizations will have 0-2 initiatives underway for every objective (with a total of 5-15 strategic initiatives).
• Develop Quality Management Program
• Install ERP System
• Revamp Supply Chain Process
• Develop Competencies Mode

- Create your strategy map or graphic strategic model

Whether or not you’re using a Balanced Scorecard as your strategy framework, you’ll benefit from using a graphic model to represent your strategic plan. While many people use a strategy map (shown in the example below), you could also use icons or a color-coding system to visually understand how the elements of your strategy work together.

If you’re just becoming familiar with how strategy mapping works, this article will teach you exactly how to read one—and what you need to do to create one.

Get your FREE eBook with Balance Scorecard strategy maps for better strategic visualization

Now that you’ve created your strategic vision...

• You have a fully-defined mission and vision to use as you move forward with your strategy implementation process.
• You have chosen a strategic framework that will hold your five-year strategic plan.
• You have defined objectives, measures, and projects, and you know how they work together.
• You have a graphic representation of your strategic model.

Feeling the strategic fatigue? It’s okay! This is a tiring process—so be careful to tailor everything in this section to what those in your organization will tolerate. Putting your strategic plan into practice (our final step) is the key to making it all work during the strategy implementation plan, and getting these details 80% right in a timely fashion is much more important than getting them 100% right in a year.

3. Putting your strategic plan into practice

You’ve made it this far—now you have to be sure you launch correctly! To do so, you need someone from the Office of Strategy Management to push that process, ensure resources are aligned to your strategy, put a solid strategy communication program in place, and get technology to keep you organized.

- Launch your strategy

Ensure the office of strategy management (osm) is pushing things forward.

The Office of Strategy Management is comprised of a group of people responsible for coordinating strategy implementation. This team isn’t responsible for doing everything in your strategy, but it should oversee strategy execution across the organization. Typically, the OSM lives in the finance department—or it could be its own separate division that reports directly to the CEO.

Create your internal and external strategy communication plan

Internal— Be sure all elements of your strategy—like strategy maps or logic models—are contained within a larger strategic plan document. (If you use strategy software , the strategic plan document will likely be contained there.) A great way to be sure your leadership team has a firm grasp on your strategy is to ensure they each have a copy of this document, and they can describe the strategy easily to someone who wasn’t involved in the creation process .

More broadly, the strategy must be communicated throughout your organization. You should be shouting it from the rooftops to keep it top-of-mind across your organization. People won’t give it a passing thought unless you engage them—so every department head should be charged with explaining how their team fits into the strategy and why it matters. For actionable tips, check out this article that highlights how you can effectively communicate your strategic plan across your organization.

‍ External— You also need to be sure you have a plan for communicating your strategy outside the organization—with board members, partners, or customers (particularly if your organization is municipal or nonprofit). Think through how it will be shared, and which parts of it are relevant to outside parties.

Align your resources to your strategy

In the short term—which would be your next budgeting cycle or something similar—work to structure the budget around the key components of your strategy. You don’t need to completely rewire your budget, but you do need to create direct linkages between how your resources are allocated and how those efforts support your strategy. Over time, the areas that contribute less directly to strategic goals will become clear, and you can work on gradually aligning everything you fund.

But even if your budget only extends through the fiscal year, consider how you’ll align your strategy to projects in the future. For future resource allocation, link your operations (what some refer to as the “work planning process”) to your strategy. Your expectation should be that the process of aligning your resources to your strategy can happen within year two of your strategic planning execution.

- Evaluate your strategy

At this point, your strategy has been launched: Now you need to know whether or not you’re making progress! Here’s how to do that.

Claim your FREE Measure & Goal Evaluation Toolkit for streamlined analysis

Create reports to highlight your results

Ten years ago, you may have evaluated your strategy annually. But in today’s business environment, that’s not a feasible option. At a minimum, you should be reporting on your entire strategy on a quarterly basis, or breaking down your strategy into pieces and reporting on one of those pieces each month.

The report you use should highlight progress on your measures and projects, and how those link to your objectives. The point is to show how all these elements fit together and relate to the strategic plan as a whole.

Hold regular strategy meetings

Report on strategy progress via the quarterly or monthly review meetings you scheduled early in the process.

It’s important to note that throwing together an impromptu meeting to go over results isn’t going to get you anywhere. Instead, your strategy review meetings should be meticulously organized and accompanied by an agenda. (See this article for a sample agenda.)

‍ Your meetings should revolve around three key issues:

• What is your organization trying to accomplish? This may include reiterating your mission and vision to add context around the conversation.
• Are you making progress toward these goals? You might review key metrics and the status of initiatives and milestones.
• What actions need to be taken to continue making progress? If metrics are off-track, for example, what can be done to get back on course.

Encourage candid dialogue and make sure the discussion stays focused.

You may want a facilitator for the first few meetings, and you may want to script a few open discussions where a goal owner explains why they are behind schedule (red) on their goal, and the business leader offers support, not criticism. This will generate the atmosphere you need for everyone to start reporting honestly and working together to achieve the organization’s goals.

Deploy strategy reporting software (if you haven’t already)

To make strategy execution work, reporting is unavoidable. While you might be able to track your first strategy meeting in Excel or give your first presentation via PowerPoint, you’ll quickly realize you need some kind of software to track the continuous gathering of data, update your projects, and keep your leadership team on the same page.

If you want to learn more about the major areas of responsibility you should be covering in your strategy management process—and how strategy software can help with that— take a look at our ClearPoint tour .

Here are two additional helpful pieces of content as you move forward:

You’ve probably seen reference to the “Plan, Do, Check, Act” framework before. If you want to integrate this checklist, this is the time to do so. Here’s a breakdown on what it means:

• Plan refers to creating your strategic plan.
• Do refers to making progress on or executing on the plan.
• Check refers to the reporting and monitoring process.
• Act refers to taking action through projects, work plans, or the budgeting process to continue to manage and execute on the strategy.

The Benefits Of Strategic Planning (& Challenges You Should Be Aware Of)

Done right, strategy planning can benefit your business tremendously, but a certain degree of stick-to-itiveness is required to get the job done. (As we noted at the beginning of this guide, organizations that actually meet their strategic objectives are in the minority. Don’t worry, though, yours can be one of the success stories.) But those that develop a disciplined approach to both planning and execution have been shown to improve performance significantly.

‍ Why is strategic planning so effective? Because it fosters healthy organizational practices that drive better outcomes. Engaging in strategic planning will benefit you in multiple ways:

1. You have quality data available to support better decisions

Setting goals and choosing the relevant metrics to track progress toward achieving them means you always have meaningful data to reference. That naturally leads to faster, more efficient decision-making, especially when that data is readily accessible to employees at every level.

Timely, valid, and actionable information is especially valuable in situations where organizations need to react quickly, so they can make the best decisions possible for all their stakeholders.

2. You allocate resources more effectively

In Chapter 3, we discussed structuring the budget around the key components of your strategy. Doing so helps ensure resources are allocated correctly, and in a way that aligns with your goals.

Tying the budget directly to goals also makes it easy to adjust when necessary, if circumstances change and new goals are prioritized over old. For example, a local government may have had a goal to develop a green infrastructure plan at the beginning of 2020, but then had to pivot with the onset of COVID-19.

To support a new goal of developing a COVID-19 response plan, they could simply review the resources used by current projects, evaluate those projects’ priorities and budget needs in comparison to the new goal, and reallocate funds as necessary.

3. You maintain focus

Having a strategic plan brings your main focus points to the forefront, so you don’t have to dig into the details of everything your organization is doing. That means there’s no time wasted analyzing irrelevant and extensive data points in strategic meetings; instead, everyone stays focused on what is most important or where improvements need to be made.

4. You improve communication and build employee engagement.

Strategic planning is intended to create a single, focused vision of where an organization is headed. When that shared vision is communicated clearly and consistently, it inspires employees to take ownership over their role in the plan, and they are typically more motivated to do their best work. High engagement will directly impact your organization’s financial health and profitability.

3 Things To Consider Before You Embark On A Strategic Plan

Having helped hundreds of organizations—for-profit, nonprofit, and local governments included—navigate through the strategic planning and implementation process, we’ve seen firsthand the many challenges that arise along the way. There’s no “typical” scenario, but there are some common pitfalls that have the power to make or break your chances of success. Below are three things you should be aware of going into the process.

1. Everything about strategic planning takes time

Don’t expect your plan to materialize after a few meetings. The initial planning activities usually unfold over the space of several months, but strategy execution itself is an ongoing process. Anticipate devoting extensive time and effort in particular to:

• Choosing the appropriate planning model . Before you can even begin to articulate your strategy, you need to choose a strategy framework that fits your organization’s needs. All models can be customized to suit the way your business works, but this is a key decision that will shape all your efforts going forward.
• Creating a plan that everyone agrees on. It’s crucial for your leadership team to support the plan’s objectives if you want it to be adopted. Making sure everyone on the team has been heard and gaining a consensus is a time-consuming process.
• Getting “buy-in” for the plan. Research shows that, on average, 95% of an organization’s employees don’t understand its strategy—there’s no surer way to guarantee failure than to neglect communicating your goals to your employees. You must continuously keep your strategy top-of-mind in a creative and meaningful way over the long term to gain the buy-in you need to succeed.

2. There is a danger of “analysis paralysis”

Data and analytics are an integral part of strategic planning. And while it may be tempting to use all your available metrics, charts, and graphs for every business decision, doing so unnecessarily can be a detriment to the decision-making process. It’s easy to find yourself drilling deeper into data when perhaps only a high-level view of the information is needed. Avoid squandering time and energy on excessive analysis by making sure the right people are focusing on the right data and actions:

Leadership should focus on organization-wide goals and progress. Teams should focus on the individual projects and daily tasks that are helping to accomplish those goals (and the data that goes with them).

3. Having a plan doesn’t mean your organization will execute on it

Good planning is only half the battle; the lion’s share of forward progress is in executing that plan. But the execution stage is where many organizations stumble. They aren’t prepared for the work involved with follow-through, both in terms of the time commitment and the tools necessary to support performance improvement. Strategy consultants are excellent guides for plan creation, but most offer no guidance on how to carry it out; as a result, organizations are left floundering.

It’s imperative to have a system in place that will measure and monitor your progress toward goals during the execution phase. Performance management tools like ClearPoint allow organizations to track a variety of metrics related to strategic projects, helping to maintain focus over the long term. And our team of strategy implementation experts is always available to provide guidance on every aspect of execution, from setting up an efficient management process to using our reporting tools optimally.

With the right plan in place, tools to support it, and committed leadership, every organization has a good chance of seeing their strategy come to life.

See ClearPoint Strategy in action! Click here to watch our quick 6-minute demo

You’ve made it through these steps…..

...but be sure to place a great deal of emphasis on rightsizing this process for your own organization.

Did you recently do a SWOT analysis and create new vision and mission statements? Don’t do it again.

Do you already manage with a robust set of KPIs ? Use them.

Do you currently create reports for your board and management team? Modify them or use a strategy evaluation framework to make sure they’re focused and move on.

Rather than doing everything, it’s more important to realize there is overlap between these steps. Understand how they all fit into your own strategic planning process, and then move forward with the sections you’re missing.

And if you have any questions along the way, get in touch with us. We live and breathe strategic planning and are here to help!

Transform Your Strategic Planning with ClearPoint Strategy Software

Struggling with the execution of your strategic plans? You’re not alone. ClearPoint Strategy is here to turn your strategic planning around.

Our software is designed to address the common pitfalls in strategy execution, such as poor communication, misaligned goals, and ineffective tracking. By booking a demo with us, you’ll see firsthand how ClearPoint can enhance transparency, improve alignment, and boost execution efficiency across your organization.

Don't let your strategic efforts fail—discover how ClearPoint Strategy empowers you to be among the few who successfully achieve their strategic goals. Book your demo today and start making your strategy work for you!

Book your FREE 1-on-1 DEMO with ClearPoint Strategy

What are strategic planning tools.

Strategic planning tools are methodologies and frameworks that help organizations formulate, implement, and monitor their strategic plans. Common strategic planning tools include:

- SWOT Analysis: Identifies strengths, weaknesses, opportunities, and threats. - PESTEL Analysis: Examines political, economic, social, technological, environmental, and legal factors. - Balanced Scorecard: Links strategic objectives to performance metrics across financial, customer, internal processes, and learning and growth perspectives. - Porter’s Five Forces: Analyzes competitive forces within an industry to understand its attractiveness. - Scenario Planning: Envisions different future scenarios to plan for uncertainties. - Gap Analysis : Identifies the gap between current performance and desired goals.

What are strategic planning techniques?

Strategic planning techniques are methods used to develop and implement strategies effectively. These include:

- Visioning: Creating a clear, compelling vision of the future state. - Benchmarking: Comparing performance against industry leaders or best practices. - Stakeholder Analysis: Identifying and understanding the needs and influences of stakeholders. - Environmental Scanning: Systematically analyzing external and internal environments. - Strategy Mapping: Visualizing the relationships between different strategic objectives and actions. - Resource Allocation: Determining the best use of resources to achieve strategic goals.

How can strategic planning improve the performance of an organization?

Strategic planning can improve the performance of an organization by:

- Providing Direction: Clarifies the long-term vision and mission, guiding all organizational activities. - Aligning Resources: Ensures that resources are allocated efficiently and effectively to priority areas. - Enhancing Coordination: Fosters better communication and collaboration across departments. - Facilitating Decision-Making: Supports informed, data-driven decisions aligned with strategic goals. - Tracking Progress: Establishes benchmarks and performance metrics to monitor progress and make necessary adjustments. - Encouraging Innovation: Promotes creative thinking and innovation to achieve competitive advantage.

What is strategic planning in healthcare?

Strategic planning in healthcare involves developing long-term goals and strategies to improve healthcare delivery, patient outcomes, and operational efficiency. It includes:

- Assessing Needs: Evaluating patient demographics, healthcare trends, and community needs. - Setting Objectives: Defining specific goals related to patient care, quality, and efficiency. - Resource Management: Allocating resources such as staff, technology, and funding to meet healthcare goals. - Implementing Policies: Developing and implementing policies and procedures to enhance healthcare services. - Monitoring Outcomes: Continuously tracking performance metrics to ensure goals are being met and to identify areas for improvement.

Why is strategic planning important in business?

Strategic planning is important in business because it:

- Provides Clarity and Focus: Establishes clear goals and priorities, aligning efforts toward achieving them. - Enhances Competitiveness: Helps businesses identify opportunities and threats, enabling them to stay competitive. - Improves Resource Allocation: Ensures that resources are used efficiently to achieve the most significant impact. - Fosters Long-Term Thinking: Encourages a forward-looking approach, preparing the organization for future challenges and opportunities. - Increases Accountability: Sets clear expectations and performance metrics, holding individuals and teams accountable for results. - Drives Growth and Innovation: Supports the development of new products, services, and processes to drive growth and innovation.

Ted Jackson

Ted is a Founder and Managing Partner of ClearPoint Strategy and leads the sales and marketing teams.

Table of Contents

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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

• This discussion invites conversation on race, which might require additional monitoring and involvement from instructors. This blog post from the Choices Program at Brown University contains links to helpful resources to facilitate talking about race in the classroom: "Approaching Race in the Classroom, Actively" ↵
• Assignments. Provided by : Lumen Learning. License : CC BY: Attribution
• Pencil Cup. Authored by : IconfactoryTeam. Provided by : Noun Project. Located at : https://thenounproject.com/term/pencil-cup/628840/ . License : CC BY: Attribution

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What Is Strategic Management?

• How It Worls
• The 5 Phases

Why Is Strategic Management Important?

• Strategic Management FAQs

The Bottom Line

• Business Essentials

Investopedia / Alex Dos Diaz

Strategic management is an approach to the management of an organization’s resources in order 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 set 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, a company can then identify the objectives, or how the goals will be reached. During this phase, a 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 they need to remain competitive. Analytical tools, such as SWOT analysis , are helpful during this phase.
• Based on the results of the analysis, a company can then develop its strategy, outlining how it will achieve its goals. In this phase, the company will identify the people, technology, and other resources it needs; 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. It should continue to monitor the business landscape and internal operations, as well as maintain strategies that have proven effective.

Example of Strategic Management

Let's say 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.

The purpose of strategic management is to help a company find ways to be more competitive. To that end, putting strategic management plans into practice is the most important aspect of this approach. Some action steps that companies may take to execute their strategic management plans include identifying benchmarks, realigning resources (financial and human), and putting leadership resources in place to oversee the creation, sale, and deployment of products and services.

Strategic management allows a company to analyze areas for operational improvement. In many cases, it may follow an analytical process—identifying specific threats and specific opportunities—unique to the company.

Or a company may choose to just abide by general strategic management guidelines that are applicable to any company.

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 company 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 this goal, the company will develop a strategy, communicate the strategy, apply it across various units and departments in the organization, integrate it 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. 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 the firm 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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Strategic Management Assignment Sample

Strategic Management Assignment Help This is an era of globalization and cut throat market competition. It becomes of paramount importance for organizations to use their resources strategically so that they can meet their predefined goals by maximizing their internal strengths and stay afloat in the market. The process adopted by organizations to achieve this is known as strategic management. Strategic management is a vast area which includes proper planning in advance, creating a schedule of each and every task, monitoring the whole process and once all the tasks completed analyzing if the idea is working or not by comparing previous results with current performance. We, at Best Assignment Experts, provide strategic management assignment help for students to help them gain significant knowledge from our top experts who have vast theoretical knowledge as well as practical business experience. We help students to write their strategic management assignment in a structured manner which is explained below –  Problem – Any strategic management assignment will definitely have a problem which you will be trying to solve with your managerial skills and knowledge. In this section, you will be defining the problem which you are aiming to solve. You will need to explain the problem to the readers so that they are aware of the situation.  Solution – Our experts will help you to define an approach which you will be used to provide a solution for the mentioned problem. You will need to explain the method you will be using to effectively answer the question. Experts will help you to research and try to ascertain how this problem was solved effectively previously and if they are of any help in your situation.  Analytics – It is very important to provide an analytical approach in your assignment as you will be talking about huge data. You need to talk about every aspect in detail as just scratching the surface wouldn’t be sufficient for strategic management assignment.  Assumptions – Since you will be discussing the future goals of an organization, you will be making assumptions based on your market study and analysis of the current situation. Our experts will help you to come to an assumption which will work for the organization. Their years of experience will come in handy for you to state estimates and goals in your assumption.  Creativity – More often than not people assume that there is no place for creativity in academic writing. This is completely wrong as creativity in any field will work positively for you. Our top experts always suggest following a structure for writing strategic management assignments with scope for creativity. This will not only keep readers interested but will also show your enthusiasm towards solving a problem. Our strategic management assignment help follows a structure so that you will be able to express your thoughts and findings in a manner which will definitely work for your institution/professor. We offer 24x7 help for students so that they don’t feel the pressure of working on such a serious assignment all by themselves. We take special care of quality for your assignment with plagiarism free work and we abide by the university rules.

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Don’t Set Your Goals in Stone — Mold Them Like Clay

• Lauren Kuykendall
• Valerie Tiberius

Everything is malleable and can change depending on where you are in your life and career.

A popular analogy compares our goals to rocks in a jar: put the big rocks (your most valued goals) in the jar first, or else the smaller (less important) rocks will take up all the space. But goals aren’t rocks; in fact, they’re more like balls of soft clay that require molding as much as prioritizing. To better mold your goals to your stage in life and what’s important to you, work through a four-step process that breaks your goals into values and definitions of success. The flexibility this molding facilitates will not only help you understand what’s really important to you, but will allow you to change and adjust your goals over time.

Take a moment to reflect on your goals. If you’re like us, they probably include getting your work done to a high standard, spending time with partners, friends and children, exercising, finding moments of mindfulness, eating well, and many other things large and small. It’s also common to have multiple goals that are in some degree of conflict; everything on the previous list competes for our time and resources.

• LK Lauren Kuykendall is an Associate Professor of Industrial-Organizational Psychology at George Mason University. Her research explores organizational and individual strategies for promoting well-being.
• Valerie Tiberius is the Paul W. Frenzel Chair in Liberal Arts and Professor of Philosophy at the University of Minnesota. Her most recent book is What Do You Want out of Life?: A Philosophical Guide to Figuring Out What Matters (Princeton University Press, 2023).

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