STEP Analysis

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually

Changing your engine oil is one of the single most important vehicle maintenance acts you can perform. Over time the oil breaks down and no longer performs its job the way it did when it was new. Your engine 's oil helps absorb heat from the engine and lubricates moving metal parts that would otherwise grind together. As you drive, the oil pump circulates oil within your engine and the oil filter catches the deposits that build up over time. The oil filter performs its own type of car maintenance by keeping the oil clean. But as the oil gets older, the number of deposits in the oil continues to build and the filter is unable to extract all of the material. When this happens, the color of the oil changes and it indicates the oil should be

Technology plays a crucial role in this industry. Every organisation always strives for look atnew technological solutions in order to come up with a distinct product. Technology plays arole in production as well as marketing activities in this industry.

This article has started revolutionary thinking about what are the different forces in addition to direct competitors that affect competitive strategy of an organization and how better understanding of industry structure and these forces, also known as " Porter 's Five Forces", derive organization 's strategy to achieve sustainability and higher profitability. Author has explained the other factors that contribute for industry structure like industry growth rate, technology and innovation, external factors, government & regulations and complementary products and services. Industry structure changes while responding to changes in competitive forces. Author also discussed the framework to perform industry analysis and avoid common pitfall while conducting analysis. In this review I will summarize five competitive forces explained by Micheal E. Porter and their implication on organization 's strategy. Further, I will discuss the relevancy of Porter 's five forces framework in current scenario.

To start off, Louis Sachar writes in many different styles in the different books he writes. There are many different books that he has written and has gotten many awards. Sachar won the Newbery Medal for one of his top selling books, called Holes. Another book that he is written is called Small Steps. Small Steps is about how you have one thing at a time in life and not do so many things at once. In the book Small Steps, Louis Sachar uses figurative language, conflict to help keep the reader engaged, and uses the same character’s name in multiple of his books as his writing style.

Technological factors – New technologies may create new products and new processes (Company Regulations.com; 2011). Technology will reduce cost, improve quality and lead to innovation. Developments such as Wi-Fi hotspot in the mini buses, MP3 players, online devices

Technology Strategies for New Product Development Rationalist approaches to technology strategy, such as that of Porter,1 view technological innovation as a relatively unproblematic aspect of corporate strategy. This article will attempt to show that the development of new products by a rm is a more complex, dynamic and uncertain activity than this, dependent for success on organizational as well as technological factors. It will be argued that strategies for technological innovation are, by implication, risk management systems. Here we are referring to the introduction of some means of control over the cost and direction of new technologies,

Social factors deal with friends, family, and society. For instance, peer pressure, being surrounded by people who use drugs, and early peer rejection. To begin with, peer pressure Casey says that everyone got involved with drugs in high school and in college and it was everywhere. Peer pressure is influence from a person's peer group. Since Casey was surrounded by her high school and college friends who did drugs she wanted to. The next example about being surrounded by people who do drugs is when it says she was enclosed by everyone in the adderall web. Everyone in her college that she associated with took adderall. This made her think she wasn’t the only one and everyone else was doing it. Adding to those examples, early peer rejection happened to Ms. Szalavitz in A Portrait of

How does this family’s behaviors fall in the Hurting to Healing Behaviors chart in the text? The Stepbrothers fall under the Control to Empowerment on the chart. These two adult men still live at home. One with his mom, and the other with his dad. The parents meet and fall in love, get married and join families. The grown male children become stepbrothers, thus blame each other for interfering in the other’s lifestyle, thus causing a confrontation with each other. Of course, the actions of the stepbrothers cause tremendous stress between the newlyweds.

Social factors refer in the trend of customer which keeps changing their trend, and what the trend of their purchase. For example nowadays due to people’s work, they are really busy so they often decide to buy already cooked food.

Technological change is a fundamental driver of economic development and performance, not only at the level of firms and industries but also economies. Innovation is the organizational process through which new

The knowledge and understanding of technology is very high in this industry as technological innovation is necessary for the success of the firm in an

Firms become competitive through innovation. Innovation can include technical improvements to the product/service or to the production/service process. He proposed a model that provides conditions that have to be met for a firm to be internationally competitive and successful.

            Other environmental influences, such as competition, may fuel the company’s desire to create more and better products that could well determine their location and standing in the global market. Increase in the number of competitors for the same line of products may mean that there

Innovation offers the companies a competitive advantage. Presently and within the future, more than any time in history, the key to competitive advantage is innovation. However innovation will facilitate businesses meet all of their strategic challenges, not simply competition; to illustrate, in confronting accelerating rates of change, globalization, apace advancing technology, a additional numerous workforce, associated a modification from an industrial to a knowledge-based economy. Meeting all of those challenges helps the firm attain competitiveness, and meeting these challenges suitably depends on innovation. Innovation allows a firm to workout its challenges in distinctive ways in which build competitive advantage either through relative differentiation, a relative low-priced position, or few acceptable level of each. Innovation cannot assure success, however success cannot be achieved within the end of the day without it.