Duties and Responsibilities of a Business Manager

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

(1) The management team must adopt a strategic management plan. First of all, they have to develop a clear vision and a mission statement to inspire and motivate all the frameworks for the company’s future strategic planning. According to “Mission Statements and Vision Statement” (2011), “by crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future” (p.1). The management team should create a mission statement that describes the company’s purpose and primary objective. For the vision statement, it should include the company’s value and purpose of the company. With a clear vision and mission statement, management and employees would be able to follow the right direction as a team. They also need to define “who their customers are, what products and services it supplies, and how these products and services are provided” (BUSN 460 Week 1 video, slide 3).

Strategic planning is an extroverted approach to long term planning. The top-level management generally achieves the vision of the business by using this process. Strategic development is concentrated towards the planning of vision, mission, and oppositions of the business. The analytical process examines the macro and microenvironment. This process defines the question of where the organization wants to be in the future and what needs to be done to lead the company towards its final goal. This procedure is not to be implemented for one specific department but instead, for the entire business. The SWOT Analysis, PEST Analysis, Porter’s 5 forces Analysis, BCG Matrix and Portfolio Analysis are tools that help the executives design the strategy

Strategic Management is the theory and practice of making decisions that shape the future of the firm. This course looks at the content and process of strategic decision making from the perspective of managers who are responsible for an entire business unit. These may be individuals who are acting in the capacity of a Chief Executive of a company, divisional General Managers, or departmental heads. It is also the perspective most

Lafley and Martin (2013) define strategy as “an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition”. A vision and mission can set the strategic intent of the organization. The strategic intent represents a declaration of where the business or organization would like to be at some future time. The vision and mission establish both the future euphoric state and communicate the current reason for organizational existence.

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

David, F. (2013). The Business Vision and Mission.  Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt

A strategic report provides shareholders of the company with information that will enable them to evaluate how the directors have performed their duty to promote the success of the company. A strategic report will always contain information that is material to its shareholders just like an annual report. A strategic reports main objective is to provide an understanding into the company’s business model and its main strategy and objectives. It also provides the users about the risks faced by the company and its impact in the future. The companies past performance is also analyzed in the strategic report. Various users like the management, employees, shareholders, creditors, investors and customers use a strategic report internally and externally. In this essay I will be discussing on how the strategic report is useful to these users with

Strategic decisions are impressively portrayed as the choices made at corporate level, which incorporate high capital investments with more chances to yield profit, expanded risk, and expanded necessity for flexibility and long run prospects. Strategic decisions are additionally described as the decisions made at functional level, which incorporate usage of suitable techniques at the business and corporate levels, retaining low risk and activity oriented operational issues. Owing to social

The mission and vision statements of an organization must be linked to its overall strategic plan. Establishing this connection is pivotal when discussing how BJ 's Wholesale Club Inc. value statements are aligned to its proposed strategic plan. Furthermore, in this paper the Internal and external analyzes are two essential phases in the strategic planning process of BJ 's. Significantly, when formulating relevant and feasible plans it is imperative for strategy makers to have a thorough understanding of the organization 's direction

One thing can be sure that rapid, volatile and discontinuous change is focusing on strategic management process operation. However, it is difficult to predict accurate future development (Thompson & Martin, 2010). Because every company has their own situation, so that managers have to consider the change occurring in the external political, economic, social and technological environment and do internal and external analysis according to the particular situation. Some models can be applied by managers to assess their companies’ external environment to improve the current business strategies, and then have more fit in the global market changes. When the companies fail to respond efficient strategic management, they also fail to facing the threats from external environment changes. Moreover, under the rapid, volatile and discontinuous change global environment, strategic management was built and developed in different way comparing with the last decades. For instance, to manage the complexity, dynamism and unpredictability environment is the topic in strategic management (Ambrosini, 2009). Additionally, analysis of SWOT had been combined into the operating strategic management because of the discontinuous change occurring in the world.

In developing an effective strategic plan, it often times contribute to a successful organization. The organization becomes geared with the proper vision and mission, if the conceptual goals are aligned with those important components. Lynne MacDonald believes, “ The development of a vision and mission statement is an essential part of the strategic management process. Having clearly defined the vision and mission of the organization, managers then can set strategic objective that are aligned with the company strategic planning. (1) Function deals with vision and mission on being able to understand how things operate (2) Improvise creates an infrastructure on development through each layer of the process (3) Use SWOT Analysis becomes predicated around strengths, weakness, opportunities, and threats. The SWOT process helps build that strong foundation within the infrastructure for creating a more dynamic effective strategic plan. (4) Strategic equal methods envisioning goals and defining systems.

Besides being the international business manager for Conair Group, I am also the general manager for the company’s Latina Americas branches. I am responsible for managing the sales division of the company in the named regions. Additionally, I am also responsible for strategy integration in these branches, taking directives from the organization’s top management. My roles encompass more than supervising sales agents, as it involves the development of sales and marketing strategies that suit the locations in which our organization operates. This situation being the case, I delegate some of my responsibilities, which are not core to the business. I am also entrusted with the role of promoting cultural integration while managing a diverse workforce. Likewise, I am also responsible for all legal and business complications encountered by our branches in the various countries, which include Argentina, Uruguay, Mexico, Brazil and most Caribbean countries, where our penetration is still in progress.

The first step of the strategic-planning process is the vision statement, which is a broad statement about the company’s value, purposes, and future direction. The mission statement conveys eight key components about the firm, including target customers and markets, products and services, geographic domain, etc. The article states, “The finance component is represented by the company’s commitment to survival, growth, and profitability” (Kono & Barnes). The long-term financial goals represent the firm’s commitment to a strategy. The analysis is the third step and comprises of the firm’s business trends, external opportunities, internal resources, and core competencies. Porter’s five forces model, industry evolution model, value-chain analysis, and a SWOT analysis can be used within the analysis step. The next step is strategy formulation, which can be done using Porter’s generic strategies model to help the firm aim for one of the competitive advantages. Lastly, is the strategic implementation and management step, where the balanced scorecard (BSC) has become the most effective management instruments used to implement and monitor strategy execution and align the strategy with expected performance. The BSC stresses the importance of establishing financial goals for a firms employees, functional areas, and business units by translating the strategy into objectives, operational actions, and financial goals by focusing on financial factors,

It is important to comprehend general definition of corporate strategy in context of management. Grant (2010) describes strategy as “the pattern of objectives, purposes, or goals and the major policies and plans for achieving these goals, stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be.” (Grant, 2010, p.17) Corporate generally undertake planning and strategy through using SWOT (Strength, Weakness, Opportunity and Threat) where inner strength and weakness and outer opportunity and threats are identified using framework. There are advantages and disadvantages that SWOT analysis is embedded with. (Johnson, 2007, pp.100-102)