Strategic management is a process to control resource utilization in an organization so as to achieve its predefined goals and objectives. It is a branch of management which comprises the formulation and implementation of key objectives and proposals that are drawn by the management of an organization while taking into account the internal and external environment of the organization. The importance of strategic management assignment help is about identifying crucial objectives of the organization, creating policies and plans to attain those objectives and then after assigning resources to implement the plans.
Due to higher competition within all the industries and sectors, organizations are forming different departments for accomplishing their strategies. The departments are tasked with the responsibility to scrutinize the micro and macro environment of the organization and formulate strategies which can make the organization the most preferred one than the rest. The importance of strategic management in the real world has led all the universities to include the same as a full-fledged subject in its curriculum, and this is the reason why students look for Strategic management assignment help.
Strategic management is not only about managing strategies; rather, it is a vast area of study with a broad scope. There is a continuous act of planning and monitoring some processes in order to analyze the actual status of an organization and to ensure that the organization is able to meet its goal and objectives. Strategic management signifies the steps used for achieving the goals and objectives. The significant importance given to this area of study has led universities to amend their courses and include this topic in their regular courses. Online writing services are providing strategic management assignment help to students for completing their assignments on time as well as to educate them about the importance of the technique.
In order to write a strategic management assignment, the students are not only supposed to go through the topic details, but also investigate an organization if the topic is organization specific. The double effort required to be put in such assignments leads the student to look for some strategic management assignment help from different online tutoring sites. Total assignment help is the right place from where the students can get a quality assignment on strategic management as well as gain immense knowledge which can be applied in the real world. We have a band of qualified writers who can guarantee you the best grades in your assignment. These writers possess the required skills to analyze the strategic management decisions taken by an organization to ascertain whether the strategies applied would be able to achieve the organizations goals and objectives. We have been serving all types of assignment writing to our students from every corner of the world.
The strategic management assignments being prepared by our writers pass through all the parameters, including the particular structure adopted by different universities. The strategic management assignment help is prepared by using real organizational examples in order to have a positive impact on the teachers as well as for providing a better understanding. Students can go through strategic management assignment samples available on our website in order to judge the type of quality our experts deliver.
The most important part of strategic management is to devise strategies which could help an organization to generate profits with smart utilization of its available resources. It helps in growth and to achieve the target set by it. In the below section, we will discuss the importance of strategic management:
Planning: It is the primary tool applied by all organizations. The main objective behind planning is to provide an insight about the future of the organization, the profits and its expansion. To achieve what you have through simple planning will not help rather strategic planning should be implemented.
Futuristic thinking: When you are aware of what to do, strategies will help you to make some long term plans which will be your ultimate goals to achieve. These plans and goals are important for an organization to help it in moving ahead with time and to achieve growth.
Allocation of resources: There are certain decisions which need to be taken on an immediate basis and this call for making adjustments in the available resources. But if there is already some resources stored for contingencies, they can be used without affecting the balance, and this can only be done through strategic management.
Pros and cons: Every organization is aware of its strength and weakness, and they work upon it in so that it does not act as a hurdle in between their growth and profits. But this work is done by strategic management by filling in the gaps.
Environmental impact: Environment is an important topic being considered by all organizations. Strategic management helps in building strategies which do not affect the environment of the country in which the organization is operating.
As stated previously, strategic management in an organization is all about managing, analyzing and planning in order to achieve the goals and objectives. If an organization wants to evaluate its position, it can do so with the help of strategic management. The organization is able to allocate proportional resources in different areas of its operations. The process of strategic management in an organization includes the following:
Goal setting: It is the initial step which is undertaken in a strategic management task. Every organization has two types of goals, short term and long term goals. All the employees working within the organization should be aware of all the goals and how to achieve those goals. The motivation to achieve the goal will provide a purpose and meaning to their job responsibilities.
Analysis: In this part, every data and information related to the organization is collected and analyzed as this will help in building strategies. The analysis helps in understanding the issues which may be there in the organization. It brings out the need for making improvements.
Formulation: In this step, a detailed analysis of the operational environment of the organization is done, and then a series of strategic resolutions are taken for the progress of the organization. Various methods of analyses are used to evaluate the environment of the organization like Porter’s 5 forces, PESTLE, Benchmarking, SWOT analysis etc. Using these analyses, remedies for some significant strategic questions are sought. These remedies are then framed as a sequence of short term and long term objectives and related measures
Implementation: In this step assessment regarding what should be the measures taken to achieve the objectives formulated in the previous step should be written. Every stakeholder relating to the organization should be involved in the plan. This involves the preparation of a strategic map that recognizes key components (like market, operations, finances, work environment etc.) and directs them towards the achievement of the objectives. Here normally Balance scorecards are used to align the organizational vision and thereafter a detailed stakeholder analysis is carried out.
Strategy monitoring: At this stage, the organization is supposed to monitor the already formulated and implemented strategies. The stage helps in evaluating the performance of the strategies in order to judge whether the strategies devised would be able to achieve the set organizational goals and objectives and if it doesn’t then a new set of strategies needs to be devised and implemented. In this stage, some of the strategies which do not help in the progress of the organization will be adjusted.
Strategic management is a vast subject, so it has been divided into different parts basis its operation and market area, and these divisions are being discussed below:
Business strategy: In order to achieve an objective, certain long term strategies need to be formulated and implemented. In order to devise a strategy, a thorough study of the organization is required. Managing the brand is one of the priorities of strategic business management. Therefore we at total assignment help through our strategic management assignment help also work upon assignments related to strategic brand management.
Competitive strategy: Competition helps in surviving in an industry, and it helps to provide quality services to the consumers. Keeping a watch on the competitors and the strategies used by them, a company can build its strategies. Through strategic management assignment help, we want to educate the students about different strategies which can help an organization in overcoming the competition and also remain in an advantageous position. The strategies could be implemented through campaigns or advertisements.
Strategic management assignment help and empirical methods: Empirical methods are a major part of the strategic management assignments. The method is tough to understand as it involves some calculations so a majority of students look for help in such assignments. The method may include questions related to sales, productivity and pricing of an organization or its employees. It may also include an analysis of responses from the consumers. In this method the regression analysis technique could be applied in order to note down the cause and effect details. The method will help students in analyzing data related assignments.
Differentiation strategic management: As the name suggests, it helps in differentiating between products and services. There are organizations which are into the same line of work but still they could produce two unique products at the same time for e.g. shampoos. The products are built differently under the same name but still they are pitched to the consumers as different. The differentiation strategy may also include differentiation in cost by keeping the prices at low so that the profits could be increased. Reduced prices help in eliminating competition.
In the strategic management assignment generally, tasks are given to devise a marketing plan to achieve an organizational marketing objective. Strategic management is important for all organizations not only for their overall development but also to keep them aligned with their mission and vision. Today organizations are not limited to the place of their establishment rather they are looking at different opportunities to expand their operations and most of them have already succeeded in doing so by critically examining their strategic management decisions.
Majority of the assignments in strategic management are split up into 2 parts. In part 1 you are asked to carry out an internal and external analysis of the organizational environment. And in part 2 using the information gathered in part 1 tactics are articulated to implement marketing strategy.
The first thing that we can expect in a strategic management assignment help paper is the discussion about the vision and mission of the organization. The vision and mission should be broken down in small parts in order to better understand the idea behind them. There may be assignments which will ask the students to compile and verify the vision and mission of an organization. Secondly, strategies are not devised daily rather they are devised occasionally by a set of executives assigned with this task. They formulate the strategies and present the same to the board with an assurance that the strategies presented will benefit all the stakeholders involved in the organization.
Strategy selection is also an important part of strategic management. There are certain criteria’s to be fulfilled before selecting a strategy and these are studying the internal and external environment of the concerned organization. Studying about environmental conditions of an organization plays an important in the strategic management assignment help paper. Strategic planning basically deals with questions related to what, how and for whom and the answer to how is crucial for all organizations as it gives certain suggestions to deal with a situation.
By reading the marking rubric you may have noticed that in a strategic management assignment critical analysis, interpretation of the test, data analysis done to formulate strategic directions, and implementation of objectives using tactical actions comprise lion’s share of weightage. So, the main effort should be given in using effective analysis tools for the formulation of strategic decisions and its implementation. You should have a strong hold on the strategic management concepts and frameworks so that this portion of the assignment is drafted in a well-organized way. A student should have sound knowledge on what is strategic management process. You should concentrate on some pressure points for maximizing your outcome before asking for a strategic management assignment help.
PESTLE, SWOT analysis, and Porter’s forces are considered among the best methods to analyze the organizational environment in a strategic management assignment.
Speaking of PESTLE analysis, it is not a separate analysis, but the specifications you have to concentrate on while conducting a SWOT analysis. Although it is an external environment analysis tool, it provides a base for SWOT analysis. It is used to spot the political, economic, social, technological, legal and environmental factors. This analysis in the Strategic Management Assignment Help will help to understand and point out the external factors that are affecting the organization both in a positive and negative way.
After this step SWOT analysis is conducted to analyze both the internal and external environment of the company. This analysis is done to estimate the position of the company. It provides an outline of strengths, weakness, opportunities, and threats the company is facing.
This analysis aids to acquire understanding the internal strength and weakness and hence create objectives to create weakness while amplifying the strong side of the company.
After conducting these analyses you can conduct Porter’s five forces to determine the magnitude of competition in a business and its profitability level.
The five key components of the Porter’s five forces denote the source of competitive pressure within an industry. By conducting this analysis you can explain why the company is able to maintain various levels of profitability.
By using these methods formulation of strategy can be drafted for the assignment. You can also use analysis tools in your Strategic Management Assignment Help task like Benchmarking, Business portfolio analysis, Critical question analysis etc. for detailed study and formulation of objectives.
After generating valuable objectives from the outcomes of the analyses conducted in the Strategic Management Assignment Help, you have to throw light on how should be these objectives implemented. The widely used methods for the implementation of strategy are budgeting, preparing balanced scorecard, applying Ansoff matrix etc.
Balance scorecard is used to arrange the business activities to the vision and strategy of the organization. A balance scorecard must clarify 4 points to the manager:-
After creating Business scored a detailed Stakeholder Analysis should be done to realize how the decision may impact your key stakeholders.
While conducting these analyses in the strategic management assignment there is a great possibility that the student will end up with the false result because of the lack of knowledge about its modus operandi.
Like, while conducting PESTEL analysis a student creates a normal mistake of providing a vague goal, focusing on only one category etc. Ignoring a single component will lead to false results for the analysis. For instance, Social factors include an organization’s customers, and if you are not paying attention to this component, the organization will face a difficult time in selling products.
While conducting SWOT analysis many students make the mistake of drafting it too long-winded. A SWOT analysis should be concise and to the point.
It requires a great effort and intelligence to conduct these analyses in a strategic management assignment help paper and a slight error may lead the student to a false conclusion. It will affect the relevancy of the assignment and the student may end up with poor grades. Having the knowledge of subject isn’t enough for a student to come up with a perfect assignment. It needs a great deal of critical analysis and excellence in portraying the knowledge in your piece of writing. Strategic management assignment help possesses a vast range of experts who have PhDs in the respective field and are able to prepare a fresh strategic management assignment from scratch for you. We follow the policy of giving premium quality assignments at cheap rate. If you are struggling to prepare the assignment, give it a try to our strategic management assignment help service.
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