Strategic Management

To achieve its long-term objectives that would enable an organization, strategic or institutional management is the conduct of implementing, evaluating cross-functional decisions and drafting. In order to design and achieve these objectives and then allocating resources to implement the programs, projects, plans and policies, it is the process of specifying the organization’s objectives, mission and vision, developing policies and plans, often in terms of projects and programs. Companies often evaluate the overall performance of the business and its progress towards objectives through a balanced scorecard.

See Chapter 1, Exhibit 01: Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages:

Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.

This report demonstrates the evaluation of current performance of JD Sports Company. Method of Analysis includes Ansoff’s matrix and Porter’s generic growth strategies to discuss the nature of the market which JD Sports invest in. The financial methods are including the flexibility and stability of JD sports which judged by the liquidity, current ratio, operation capital, gearing and profit margin of this company. These figures could be collected from the annual report or balance sheet. This report analyzed the JD sport’s position in the market, and used generic and external growth method to expand market size. Such as acquired a lot stores to improve business profitability. Obviously, JD has expanded to the European

"The strategic management process centers on the belief that a firm's mission can be best achieved through a systematic and comprehensive assessment of both its internal capabilities and its external environment." (Pearce and Robinson, 2004). The planning process begins with the mission statement.

To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper, managers need advanced processes they feel will facilitate the optimal positioning of the business in its competitive environment. Such positioning is possible with strategic management because this process improves preparedness for unexpected internal or competitive demands.

The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.

Globalization changes have impacted Burger King in the following ways; since the company began in 1953 with its first restaurant in Jacksonville, Florida and opened several locations across the United States, the company began its international expansion in 1969 with its first international franchise location in Canada, followed by Australia in 1971, and Europe in 1975. The setting up of franchises outside the United States was as a result of fast food opportunities arising outside the United States. So as to fully integrate in the international market, Burger King had to adopt and embrace

The strategic management process helps institutions identify what they intend to achieve and how they will accomplish outcomes. The term strategic management is used to refer to the entire decision-making process. Strategic management must evolve by predicting the future (more effective planning), thinking strategically (increased responses, evaluation of strategic alternatives and dynamic allocation of resources) and creating the future (strategic planning through orchestration of all resources to create advantage) (Gluck, Kaufman & Wallach, 1980). Therefore the orchestration of all resources within an institution, strategically driven by a flexible planning process

Strategic management can be defined as a bundle of decisions and acts which a manager need to do to achieve better performance and a competitive advantage for their organization. Also, strategic management is a continuous process that evaluates and controls the business and the industries in which an organization is involved. First need to evaluates its competitors and sets goals and strategies to meet all existing and potential competitors; and then reevaluates strategies on a regular basis to determine how it has been implemented and whether it was successful or does it needs replacement. Moreover, strategic Management gives a broader perspective to the employees of an organization and they can better understand how their job

Strategic planning clearly defines organisations’ objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track (Bradford et al, 2008). According to Robbins and Coulter (2005), the strategic management process model is given below:

Strategy literature offers many techniques and models suited for systematic strategic analysis. The SWOT analysis, the PESTEL analysis, the Five Forces analysis framework are the prime examples of techniques that can be adopted for strategic analysis. This assignment will use PESTEL and Five forces model to analysis the environment of CRH plc.

In every organization strategic management has a direct impact on its business. Strategic Management helps to attain superior performance and competitive advantage for an organization. Through competitive

It is important for organisations to achieve their goals, as this can assist them to reach a competitive advantage, which is a highly attractive position for a firm to be in.

Future- oriented: Strategic management encompasses forecasts, what is anticipated by the managers. In such decisions, emphasis is placed on the development of projections that will enable the firm to select the most promising strategic options. In the turbulent environment, a firm will succeed only if it takes a proactive stance towards change.