Strategy is the art of formulating, implementing and evaluating the cross-functional decisions of business to achieve its organizational goals and long-term sustenance. Strategy closely knits the mission, vision and goals of an organization with plans and policies to achieve its objectives. Strategy can also be defined as the course of actions taken and necessary resources implemented to accomplish the predefined goals of an enterprise.
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Two major processes of strategy
Strategy specifically involves two major processes: formulation and implementation. These two major initiatives undertaken by the top managerial level in an organization is regarded as strategic management. Strategyassignment helpexperts focus on these.
Formulation refers to the analysis of the market condition and plotting adequate strategic actions respectively to gain competitive advantage against the rivals. Strategies are formulated based on the following factors and mainly highlighted in strategy assignment help material:
- The nature of organizational business
- The target market for a significant product or service
- The purchase characteristics of target customers
- The geographical scope of the business
- The differentiation capability of business
- The opportunities and possible threats of the business
It refers to the alignment of resources towards the organizational goals. Implementation depends on a number of factors that include structuring of resources, leadership arrangement, effective communication, management, performance monitoring etc. Strategy assignment help experts suggest that implementation is a useful process to evaluate the progress towards achievement of organizational goals.
Strategy assignment help primarily include these processes. Enhance your knowledge on MBA by our strategy assignment help.
Strategy at different levels of business
Business strategies exist at various organizational levels. The various types of business strategies highlighted in our strategy assignment help material are:
It considers the overall scope of business and purpose of operations in order to meet the expectations of internal and external stakeholders. This stage of business is highly influenced by the investors, hence considered crucial stage of strategy. Moreover, corporate strategy guidelines the complex decision making processes throughout the business. The mission statement of an organization is closely linked with the corporate strategy of business.
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It refers to the strategic direction offered to the functioning or operational units of an organization. Operational strategy essentially emphasize on the flaws of people, production processes, resources used, quality control, inventory control etc.
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Business unit strategy
It determines the strategies adopted to deal with individual target market in the industry. This unit of strategy encompasses strategic decisions on products, exposure to new opportunities, meeting customer expectations, to gain competitive advantage over rivals etc.
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It refers to the strategies developed by teams or groups of employees working together to accomplish the business objectives. Each department or team in an organization has distinct set of strategies to carry out the operations allocated to them.
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Three models of strategy
Linear strategy model
Linear strategy refers to the planning, integrated decision making processes and actions taken to accomplish the feasible objectives of organizations. In these strategic actions, organizations modify their range of products and services with the changing needs of consumers. Strategic planning, formulation of strategies and strategy implementation are the three chief factors associated with the Linear model highlighted in our strategy assignment help material.
It refers to the development of strategies respective to the changing or latest interest of corporate culture. Strategies in interpretive model are developed to frame references so that the stakeholders can understand business scenario and industrial environment. Based on this strategy, the stakeholders are expected to produce constructive results for the organization. To be precise, interpretive strategy emphasizes more on the promotional activities to influence the buying decisions of customers rather implementing attractive features on the products. Strategy assignment help simplifies interpretive strategy.
This mode of strategy refers to the alignment of resources and capabilities with the industrial risks and opportunities by continuous assessment of external and internal business conditions. Strategy assignment help give prominence to these.
Environment analysis and making relevant changes to it is continuous and simultaneous operations in an adaptive strategy. Moreover, Strategy assignment help include adaptive strategy that is considered to be the overlapping cycles with the three chief phases in business i.e. the phase of engineering, entrepreneurial phase and stakeholders phase. A constant need of adaption minimizes the scope of strategy planning.
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Five types of strategies development by Mintzberg
Renowned academic and author Henry Mintzberg successfully described the various viewpoints on strategy by analyzing the strategic processes. According to him, strategy is an impulsive domain depending on the situation or operations taking place.
Strategy is classified into five different types by Henry Mintzberg which is discussed in brief below. Our strategy assignment help primarily include the following.
1. Strategy as a plan
It is a planning concept in which a course of action is directed to accomplish pre-determined series of organizational objectives.
2. Strategy as a situation
It is a strategy determined by the external factors. On the basis of consumer and stakeholder’s approach, various brands, products and target market is located.
3. Strategy as a pattern
The strategy that is not preplanned, rather develop over time with experience. The pattern of strategy intended is different from the intended pattern and hence regarded as emergent strategy.
4. Strategy as a trick
This is a type of strategy developed to defeat the competitors
5. Strategy as a perspective
Strategy built in accordance to the theory and ideological perspective of business.
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Overview of strategic planning
Strategic planning refers to the various processes undertaken by a business to accomplish the strategy. The processes include defining the strategy plan, directing programs and policies, making decisions and allocation of resources to execute the predefined strategy. Strategic planning encompasses the entire process of implementing input, synthesis and obtaining of output. A strategic planning involves feedback loops in every execution process. Students seeking strategy assignment help must include all-round planning.
The chief steps involved in strategic planning are:
- Formulation of actual strategy by strategic thinking
- Analysis of business environment and potential competitors within the industry
- Guiding principles to help organization accomplish its strategic intensions
- Chief initiative or implementation of actions plans to accommodate the guiding principles
These steps are primarily included in strategy assignment help.
Tools used in strategic planning
Strategic planning involves various analytical and tools to accomplish the desired organizational results. The wide-ranging strategic planning tools are described in details below and simplified in strategy assignment help.
This analysis is done to determine the organizational strengths and weaknesses in respect to the external threats and opportunities.
Strategy assignment help give prominence to SWOT analysis.
This analysis encompasses the various environmental factors such that have strong impact on the business performance. These environmental factors include political, economic, social and technological factors. This has been further expanded to environmental and legal factors highlighted in strategy assignment help
Porters Five Forces Model
This analytical model emphasizes on five chief factors: bargain power of suppliers, bargain power of customers, threat of new entrants in industry, threat of substitute products and potential competition within the market. Strategy assignment help emphasize on chief five factors.
This planning process is implemented to determine the future prospective of business. Strategy assignment help point up this factor.
Matrix of growth share
This analytical tool is used to decide possession of productive businesses and dismiss the non-profitable one. Growth share matrix is essential in Strategy assignment help.
Why students find it difficult to manage strategy assignments?
Strategy is a complex process of high-level planning meant to achieve organizational goals. Strong grasp on the multi-dimensional characteristics of strategy would help the students to frame their assignments efficiently. However, being a non-professional personality, majority of learners confuses the applications of situational strategies in accordance to the changing scenario of industries; hence need strategy assignment help. In addition to it, formulation and implementation are two distinct processes of strategic planning that students should consider while weaving their knowledge on business studies with that of the specified case study.
Needless to say, strategy assignments are an extremely time-consuming task for which majority of students fail in their deadline and seek strategy assignment help. Even if you manage to present the assignment on time, the quality of content will go below standard. The significant problem faced by students is the inadequate availability of resources that restrict the research work on strategy. The information given in journals and books are not apt to frame a proficient set of assignment leading them to appeal for strategy assignment help.
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The globalization has huge impact on the attitude and behaviour of the customers, clients and consumers as they want more quality high brand, goods and services at compatible prices. Firms compete for customers, and management formulate strategic plans to enhance the quality, brand strength and brand image of goods and services to achieve organizational goals and objectives and to achieve sustainable competitive advantage. Organizations want to have innovative creative, challenging, and strategic work force which formulate strategic plans establish goals and objectives obtain, allocate, distribute and utilize scarce resources in the best possible manner to achieve goals and objectives effectively and create brand image, brand loyalty through enhancement in the quality of goods and services and achieve sustainable competitive advantage and create value for all the stakeholders. The managers have to anticipate the changing needs of the customers through effective market, customers, competitors, and internal external environment analysis, and formulate strategies to achieve strategic targets through quality enhancement of goods and services meeting the changing needs and wants of the customers. Strategic planning is the process of matching organizational resources and competences against desired organizational targets through external and internal environment analysis, competitors’ analysis, market analysis, market trends, and form strategies to achieve goals and objectives and create value for the shareholders, company and for all the stakeholders.
The strategic planning is a continuous process and managers consistently review strategy and form contingency plans to achieve the strategic goals and objectives of the organization. Debenhams is highly focused and committed to produce quality goods and services to its customers, and create value for all the stakeholders through effective strategic planning. Debenhams has developed an innovative system of training, knowledge sharing, and motivation, to conduct internal and external environmental analysis, competitors analysis, market analysis, trends analysis, and form contingency plans to achieve goals and objectives. Debenhams has improved the quality of its goods and services and improved its market position during the years 2008- 2012. 1.1Importance of External Factors Affecting the Organization The external environment affects the strategic planning, market position, sales and management abilities and skills to compete effectively in the changing business environment (Campbell, and Edgar, 2011). The external environments has different political, economic, social, technological, ecological, and legal factors (PESTEL) competitors’ analysis, and analysis of your own company, market analysis, and the managers form strategies to achieve goals and objectives and achieve competitive advantage.
The managers are responsible to form effective strategic plans, and managers have to see the changes in political system, microeconomic and macroeconomic environment, market trends, increases in the raw material prices, inflation, unemployment, increase or decrease in the interest rate , social environment, new technological changes in work and processes, changes ecological and demographical changes, changes in the laws and regulations, news laws, duties tariffs, competitors analysis their strategies actions their strengths and weaknesses, threats, and new opportunities available for the company. The management can achieve goals and objectives through effective internal and external environmental analysis, competitors’ analysis, and market analysis, to form strategic plans to enhance quality of goods and services and create value stakeholders. However it has been seen and observed that some managers under estimated, or overestimate the competitors’ strengths, weaknesses, their strategies, competences, their opportunities, and threats, and unable to form effective strategic plans to achieve competitive advantage.
Debenhams has improved its system and management approach in doing external and internal environmental analysis during 2009- 2012. Now Debenhams is highly focused towards external environment, competitors’ analysis, market analysis; they do internal and external analysis, form effective strategies, and alternative contingency plans, improve quality of goods and services, brand strength and achieved competitive advantage creating value all the stakeholders. Debenhams , s management is now highly focused on external environment, competitors analysis, market analysis, and management has close relations with customers, clients, suppliers, creditors, community, and they have improved the quality of goods and services, improved their sales, and market position of Debenhams has improved during the years 2009- 2012. 1.2 Needs and Expectations of Stakeholders of the Organization The changes in the external environment affect the strategic planning, strategic targets of an organization, management abilities, expectations of stakeholders (Vrontis, 2008).
Management has to make changes in strategy according to the changes in external environment, raw material prices gets higher, change in micro-economic environment, market structure, demand, competition, and change in macroeconomic environment like inflation, unemployment, changes in interest rate, new taxes, news rules and regulations , competitors strategies drive the management to form alternative strategies, and contingency plans, to meet the expectations of the stakeholders, as shareholders want more returns on their funds, customers want more quality goods and services at compatible price, suppliers expectations to pay their funds in time, creditors expect that interest and principle amount would be paid on the borrowings, government impose new laws, they expect that firm must obey rule and regulations and pay taxes, competitors are observing our strategic moves, and we (company) is observing their plans, and company has to do scenario analysis and for effective strategic plans to take competitive advantage and fulfil the expectations of the stakeholders.
But often the management ignore the key changes in external environment, and unable to do accurate scenario analysis and unable to meet the stakeholders expectations. Debenhams is closely associated with all the stakeholders through close customers relations, shareholders relations, suppliers relations, close creditors relations, and closely work and coordinate with community and achieve value for all the stakeholders. Debenhams has adopted an innovative creative approach towards the stakeholders for the last three years since 2009, as management now anticipate the customers’ needs and respond accordingly, they have improved the sales and profitability and share price has improved, they are highly focused towards community and environmental and ethical issues. Debenhams is participating in environment protection plans, and contributing in charity organizations. Debenhams has improved it,s brand image, customers loyalty through successful business operations and meeting the needs of all the stakeholders.
1.3 Analysis of Major Changes in External Environment
Companies have to form and modify strategies, form contingency plans due to the changes in the external business environment, market trends, competitors’ strategies, (Smart and Vertinsky, 2006). Organizations anticipate the changes in the external environment, changes in the microeconomic, macroeconomic environment, changes in demand and supply, inflation or deflation, unemployment, recession or boom in the market, competitors analysis, their core competences analysis, SWOT analysis of the company and the competitors, resource analysis, competences analysis, establish goals and objectives form strategies to achieve strategic targets, and form contingency plans to create value for the firm, shareholders and other stakeholders. Often management is unable to anticipate and evaluate the changes in external environment, competitors analysis, markets trends, changes in the technology and unable to form effective strategic plans to achieve goals and objectives, and competitive advantage. Debenhams has developed an innovative creative challenging approach towards the external environment as the management do strategic resource analysis, competences analysis, and culture analysis to respond effectively in response of the changes in the external environment. Debenhams has adopted a learning, knowledge sharing and feedback cultural approach in which management anticipate, learn and coordinate how to respond the changing external environment, form effective strategies, contingency plans and achieve goals and objectives efficiently and effectively.
Debenhams has improved its market position during the years 2009- 2012 through effective strategic planning and created value for all the stakeholders. 1.4Analysis of the Current Business Plans through appropriate Tools The management use value chain analysis, SWOT analysis, and Porter, s five forces analysis cope up with the challenges in management accounting and strategic planning (Dekker, 2003). Managers are responsible , to conduct internal analysis, Porter, value chain analysis, SWOT analysis, five forces analysis for strategic planning which is needed to determine the possible future strategic options by appraising the organization’s internal resources and capabilities, the audit of basic and unique resources, and competences, and to achieve long term competitive advantage. The value chain analysis is consists of secondary and primary activities like firm infrastructure, technological advancement, human resource management (HRM), procurement, outbound logistic, inbound logistic, operations, marketing and sales these analysis are very essential in strategic planning, as through effective value chain analysis, and external environment analysis companies improve the quality of goods and services, brand image, brand loyalty, to achieve competitive advantage.
But often managers ignore effective value chain analysis, as they do not share knowledge, and feedback from employees and customers, and there is a communication, gap and management is unable to form effective strategies. Debenhams has developed an innovative, creative approach, as management share knowledge through learning, take feedback of the customers and employees, improve the quality of goods and services, acquired latest technology, and developed effective procurement systems, outbound, inbound logistics, effective marketing and sales channels. The number of retail outlets has increased during the years 2010 -2012 as Debenhams has devised and developed new marketing strategies to satisfy the changing needs of customers, and achieved value for shareholders as well as for other stakeholders. 1.5 Review of Position in Current Market
The management develop innovative creative challenging strategies to improve the market position, quality of goods and services, brand strength through market share analysis, life cycle analysis (Porter, 2008). Companies use different techniques and tools to evaluate the current market position of the organization. Market share analyses are used to evaluate the market position of the company through the sales analysis of the company, what percentage of the customers is consuming the product and services of a particular company. Management use different surveys, view financial reports, and statistical data to evaluate the market share of the organization in comparison to the total market share of that particular product or service. Management uses life cycle analysis, in which overall impact of external environment on products, services and processes are evaluated, and develop strategic plans to respond to the changing external environment to achieve strategic targets, improve the market position.
But it has been seen and observed that some managers often ignore key issues in market share analysis, and life cycle analysis, and unable to form effective strategies. Debenhams is highly focused towards the evaluation of its, current market position, as management use market share analysis, through surveys, and financial reports, and devise ways to improve the sales through improvement in quality and develop strong brand, and achieve competitive advantage. Debenhams also uses life cycle analysis to evaluate the impact of external environment on products and services and developed effective strategic plans to utilize its resources competence, skills, technology, to produced high quality brands of goods and services and achieved advantage and created value for all the stakeholders. 1.6 Evaluation of Strengths and Weaknesses of Current Business Strategies in Relations to its competitive situation The management uses SWOT analysis to access the market position of the firm and competitors’ analysis, to form strategic plans to achieve goals and objectives, but SWOT analysis has some implications (Jackson and Erhardt, 2003).
Managers use SWOT analysis to evaluate the market position of the firm through strengths, weaknesses, opportunities and threats. The managers use strengths to overcome threats, and exploit new opportunities to remove the weaknesses to increase sales improve the quality of goods and services, brand strength, brand image, and achieve competitive advantage. But it has been seen that SWOT analysis have some implications, especially when the firm is dealing in more than one products and services, and operating internationally. Debenhams has developed a strategic approach in SWOT analysis of the company, competitors, market analysis, to and improve the quality of goods and services improve the brand strength, brand image and brand loyalty. Debenhams has developed an innovative challenging approach to remove, minimize weaknesses through new opportunities; new markets and have opened new retail outlets during the years 2010- 2012 improved the sales, through quality goods and services, and minimizing threats through innovative creative brands strengths. Debenhams has adopted an innovative organizational culture through learning and knowledge sharing, and build effective teams to enhance the quality, production through successful business operations.
2.1 Appropriate Modelling Tools Develop Options for Strategic Planning Resource based view of strategy (RBV) limits the opportunities for progress and growth of an organization as the management has limited options to go beyond commitment (Kraaijenbrink, 2010). The management has limited options in resource based view of strategy as management focus towards the proper or effective use of resources to achieve goals and objectives, and they cannot explore new opportunity available in the market because of the resource constraints. Hence the managers have limited approach in resource based view of strategy, because of budget constraints. However it has been seen that managers with innovative creative approach utilize available resource in the best possible manner improving the quality of goods and services, satisfying customers’ needs and wants, and achieve competitive advantage through resource based view of strategy. Debenhams has a motivated knowledgeable management which share knowledge through learning, form effective strategies to approach resource based view of strategy as the plan allocate, distribute and utilize resources in producing good quality of products and services, creates brand loyalty through brand strength and image, and achieve competitive advantage.
Debenhams has improved its strategic planning approach, improved quality of goods and services, and improved its market position during the years, 2010- 2012. 2.2 Comparative Understanding of Competitor activity from other organizations in the Market The management achieve sustainable competitive advantage through effective competitors’ analysis and market research (Porter, 2008). Management conduct thorough competitors, market analysis, knowing the new emerging trends in the market and adopt the learning culture to fulfil the changing needs of the customers and achieving competitive advantage. However sometimes the managers underestimate or over- estimates the strengths and weaknesses of the competitors and unable to form strategy to achieve desired targets. Debenhams has developed an innovative and challenging approach in evaluating the competitors’ strategies as the management teams of Debenhams conduct market research, through surveys, questionnaires, and know the market trends, competitors analysis, customers analysis, and devise effective strategic plans to achieve strategic targets and create value for all stakeholders. Debenhams has developed a system to provide training, motivation, to employees, managers, as they (managers) share knowledge, and adopted an organizational culture in which employees, managers, teams utilize their full potential to achieve goals and objectives of the organization efficiently and effectively.
2.3 Options to Form the Basis of Future Organizational Strategy The managers choose options to form basis of organizational strategy through integration of resources, competences, and skills, learning and knowledge sharing, against the desired targets and form strategic plans to achieve competitive advantage (Verbeke, 2009). Managers share knowledge, through learning, and integrate resources and competences and establish goals and objectives formulate strategies through external environment analysis, internal and external analysis, customers’ analysis, and competitors’ analysis, form contingency plans to achieve goals and objectives effectively. However in some organizations managers do not share knowledge and there is a communication gap between the different layers of management, which results the ineffective use of resources. Debenhams, s management is highly motivated and committed in knowledge sharing and learning, as they provide training to employees and managers, enabling them to do strategic planning through effective external environment scanning, microeconomic and macroeconomic analysis, internal analysis, market analysis, competitors’ analysis, balanced scorecard and form strategy to achieve goals and objectives efficiently and effectively.
Debenhams effectively create options to form the basis of future strategy through market research, internal and external analysis, doing thorough competitors analysis, and knowing the new emerging trends in the market, improving the quality of goods and services according to the demands of the customers, and achieve competitive advantage through brand image and satisfaction of the customers. Debenhams uses different options market development, diversification and differentiation strategy to achieve competitive advantage, and develop competitiveness strategies to customers’ orientation through customers’ satisfaction and creating value for shareholders and other stakeholders. Debenhams is consistently meeting the changing needs of the customers, and created high brands of goods and services and improved the market position during the years 2010 -2012.
3.1 Suitable Structure for a Strategy Plan that Ensures appropriate participation from all the stakeholders. The management achieve organizational targets through effective configuration of the organizational structure and strategy (Mintzberg, 2008). The organization structure depends on the organizational culture, as organization culture means way of doing work, way of achieving goals and objectives, way of strategy formation, knowledge sharing, performance recognition, and reward and punishment system. The organization structure consists of mission, and vision statements, corporate values and principles, what is the purpose of an organization, what organization wants to achieve in future, the desired future market position. The management uses external and internal analysis, SWOT analysis, competitors’ analysis, market analysis, to form strategies to achieve goals and objectives through, balance scorecard, and execution plan. The dynamic innovative, organizational culture facilitates dynamic and effective organizational structure.
The effective organization structure ensures the participation of all the stakeholders in policy or decision making through knowledge sharing and feedback, to adopt strategic change to achieve goals and objectives efficiently and effectively and create value for all stakeholders. However some organizations have ineffective structure due to the ineffective organizational culture. Debenhams, s mission is to provide quality goods and services satisfying the changing needs of the customers through brand image of their products and services. Debenhams has developed a challenging corporate vision to achieve quality in operations developing new innovative creative competitive strategies through effective external environment scanning, SWOT analysis of the company and the competitors, internal analysis, market analysis, achieving goals and objectives to fulfil the expectations of all the stakeholders. Debenhams is highly committed to create value for all the stakeholders through effective strategic planning and close relations with all the stakeholders. 3.2 Criteria for Reviewing Potential Options for a Strategy Plan Companies use balanced scorecard approach and value chain analysis for reviewing the potential options for a strategy plan to achieve organizational goals and objectives (Porter, 2008). The management form strategies to achieve competitive advantage, through improvement in quality and customers orientation through customers’ satisfaction.
The balanced scorecard approach focus on four perspectives, the customers perspective their changing needs wants, and customer orientation through quality and customers satisfaction , financial perspective how to utilize scarce financial resources to create value for shareholders, (SWM) through effective costs saving, quality enhancing, cost and benefits analysis, the third is the business perspective in which managers focus on how well a business is making progress and what matrices, parameters must be designed to meet the changing needs of the customers and add value to products and services, and the fourth perspective is the learning and growth how management will learn share knowledge , use latest technology to improve the cost and quality of products and services and achieve the competitive advantage and make progress and growth increasing market share and brand image to capture more market share.
The value chain analysis approach ensures an effective delivery of goods and services to get the more market share and achieve strategic goals. But it has been seen that in some organizations there is a communication gap, lack of knowledge sharing, and lack of market research, feedback due to which company face problems in achieving goals and objectives. Debenhams has an innovative challenging balanced scorecard approach, and management form strategies to achieve organizational objectives. Debenhams is meeting fast growing needs of the customers and are now well aware of the health and safety issues, and has achieved high standards of quality, health and safety in their goods and services. Debenhams has improved its operations quality of goods and services and achieved value for all the stakeholders.
3.3 Strategy Plan ensuring you include the Resource Implications The resource based view of strategy plan produce implications in strategic human resource management, strategic planning, and implementation (Colbert, 2004). The resources, human, financial resources, and technological resources, skills, actions, role and responsibility, accountability responsibilities are required to achieve organizational strategic targets. Organizations achieve competitive advantage through strategic human resource management as SHRM plan, formulate and implement effective strategies, to achieve goals and objectives efficiently and effectively. The resource based view of strategy produce implications for management, as management is bound to use scarce resources in an optimal manner, as the management has to modify strategy according to the available resources and cannot exploit any new opportunities due to the resources constraints. However the knowledgeable motivated management develop effective resource based view of strategies to take the competitive advantage through successful business operations. Debenhams has developed an effective strategic human resource management system, in which training is provided to the managers to from effective strategies to achieve competitive advantage. Debenhams has achieved value for all the stakeholders through effective strategic plans, and improved its brand strength and market position during the years 2010- 2012.
4.1 Core Organizational Values and Current Business Objectives Organization achieve sustainable competitive advantage through core competences, organizational values, corporate culture, and structure, brand image, knowledgeable human resource management (Mintzberg, 2008). The dynamic innovative, creative, corporate culture where mangers share knowledge through learning, and market research is essential for effective dynamic and efficient organizational structure, in which managers develop effective strategies, to improve quality of goods and services creating brand image and brand loyalty, and achieve sustainable competitive advantage and create value for all stakeholders. The knowledgeable motivated management establish innovative creative dynamic organizational culture through knowledge sharing, training, performance recognition, performance appraisal, reward and incentives based on performance, which enable the organization to have a dynamic and challenging organizational structure to establish goals and objectives, lay down strategies through external and internal environmental analysis, market analysis, competitors analysis, and form contingency plans, to achieve goals and objectives and achieve competitive advantage.
However often management ignore the key ethical issues and under or overestimate competitors strengths, weaknesses, opportunities and threats due to communication gap between the different layers of management. Debenhams is highly committed to have strategic workforce, which has been developed through training, knowledge sharing, has approach to anticipate the changes in external and internal environment, and meet the changing needs and wants of the customers, creating value for shareholders customers and other stakeholders. Debenhams has developed an innovative, dynamic challenging, organizational culture, through learning and knowledge sharing, which has developed a structure to respond the changing needs of customers, improved the quality of goods and services and achieved sustainable competitive advantage and created value for the firm and all the stakeholders. 4.2 Appropriate Vision and Mission Statements
The vision and mission statements of an organization enable the management to establish core values, purpose, future desired market position, and goals and objectives of an organization (Dewit, and Meyer, 2010). The mission statement shows the purpose of an organization, what an organization wants to achieve? And the vision statement shows the future aims and objectives of an organization, the future desired market position. The mission and vision statements are essential for the success and progress of an organization as these provide the direction and guidance for the management what they have to achieve for whom they have to achieve. The management of an organization establish goals and objectives according to the mission and vision statements and form strategies to achieve these goals and objectives efficiently and effectively creating value for all the stakeholders. But often some managers follow their own plans and ignore the strategic plans of the organization and organization face problems in strategic planning and targets achieving. Debenhams is highly focused and committed to their vision and mission statements as they form strategies through effective market analysis, anticipate changes in external environment, share knowledge, skills, to improve quality of goods and services, improved the quality products and services and achieve sustainable competitive advantage. 4.3 Agreed future Management Objectives
Companies form plans for the effective management of the financial, human, and technological resources to achieve sustainable competitive advantage (Johnson and Scholes, 2008). Managers are responsible for the efficient management of human, financial, and technological resources to forecast future through effective strategic planning and form strategies to manage financial, human, and technological resources to achieve competitive advantage through optimal use of resources and creating brand image of products and services. However often managers ignore the key ethical issues and effective use of resources which affects the strategic planning of the organization. Debenhams is managing financial, human, and technological resources through innovative creative roles and responsibility and form strategies to achieve competitive. Debenhams has motivated skilful management, as they plan establish, organize, and achieve organizational targets, through effective management of human, financial, and technology resources to improve quality, reducing costs and achieving sustainable competitive advantage. Debenhams is highly committed to produce high quality of goods and services, satisfying the changing needs of customers and creating value for all the stakeholders. 4.4 Measure for Evaluating a Strategy Plan
Organizations achieve strategic goals and objectives through effective planning and control (Bryson, 2004). Managers develop effective planning and control system to monitor and evaluate the achievement of goals and objectives. The control is the comparing the actual and planed results, and if there is deviation or deficiency in actual and planed results try to remove the deviation or review the plan to achieve the goals and objectives effectively. However in some organizations managers are unable to establish effective planning and control due to the communication gap, and lack of knowledge sharing which further creates problems in achieving strategic goals and objectives. Debenhams has developed an efficient control system through knowledge sharing, learning, training, motivation, market research, efficient use of resources achievement of goals and objectives, through feedback of customers and employees, knowledge sharing, and creating brand loyalty and achieving competitive advantage.
5.1 Schedule for Implementing Strategy Plan
Organizations implement the strategic plan successfully through the support of management, effective communication system, employees’ involvement through knowledge sharing training, feedback, thorough organizational planning and competitive analysis and perceived need for the strategic planning (Mintzberg, 2008). The management should involve everyone in organization to participate in the strategic planning through knowledge sharing and feedback, top management, managers, and employees share knowledge through learning, and market research, external and internal environment analysis, competitors’ analysis, and facilitate the strategic change through mutual consultation knowledge sharing. The management form strategies to improve quality, brand image and achieve competitive advantage creating value for all the stakeholders. However it has been seen that there is a communication gap, due to which employees resist strategic change and firm is unable to form competitive strategy to achieve competitive advantage.
Mission and Vision StatementPurpose of an organization and future desired market position e.g To improve the quality consistently and become a market leader in clothing (Debenhams) People and SystemPeople recruitment training and development and placement in organization. How budgets are prepared, allocation and distribution of resources, Organizational StructureManagement roles and responsibilities, authority and accountability, chain of command Corporate GovernanceSuccessful operations through strategic command and control, close employee, customers relations, closely associated with community and participation in welfare of the community Organization / corporate CultureWay of doing work / formation of strategy, establishment of goals and objectives, training, motivation, knowledge sharing, performance recognition, reward and punishment system LeadershipTop management and their role in formation, and implementation of strategy, CEO, board of directors
Strategy implementation plan
Management implement strategy through mission and vision, effective planning, organizational structure, organizational culture, and innovative creative challenging leadership, to achieve goals and objectives. Debenhams has establish an innovative challenging leadership approach to share knowledge, through learning and feedback of employees and customers, involve all stakeholders in decision making, and strategic change is facilitated to achieve organization goals and objectives and develop the organization culture in such a way to implement the strategy plan successfully. 5.2 Communication Plan to Meet the Stakeholders Needs
Communication system among members of an organization is vital, essential, and beneficial to meet the changing needs and expectations of all the stakeholders (Koch, 2011). The management should incorporate communication system among members of organization that they must be aware what they are trying to achieve and for whom to achieve. The coordinated activities of the management to achieve the organizational goals and objectives through participation of all the stakeholders and meeting the expectations of all the stakeholders to achieve sustainable advantage. However often it has been seen that there is a communication gap, among the members of the organization, managers impose their decisions on the employees and this creates problems in achieving goals and objectives. Debenhams has developed an effective communication system at all levels of management from top to bottom flow of information and communication, bottom to top, horizontal flow of communication among different managers and employees. Debenhams has a unique creative communication strategy to involve everybody, all the stakeholders, in decision making, through effective communication plans, and achieved competitive advantage.
Communications with senior executives
Highlights key issues risks
Quarterly Monthly, and weekly reports
Face to face interviews
Provide direction to project teams
Highlights tasks pending, meetings, teams briefings, what to achieve and how to achieve Tools used
Verbal communications, and non-verbal communication
Agenda, meetings, minutes, notes
E-mails, project brief, project plan
Communication to clients, functional managers, line managers Negotiations of
budgets, resources, time allocations, timescales Tools used
Statements of work
5.3 Appropriate Monitoring and Evaluation Systems for Strategy Plan Management develop effective monitoring and evaluation system for the strategic plan which is essential for the success and progress of an organization (DeWit, and Meyer, 2010). The management is responsible to develop an effective, productive monitoring and evaluation system to achieve organizational goals and objectives, form contingency plans and consistent strategic review to achieve strategic goals of an organization. The planning and control is essential to achieve desired targets, as through control management compare actual results with planed results and remove deviations or revise strategy for the effective achievement of goals and objectives. However sometimes managers are unable to develop an effective monitoring and evaluation system to implement strategy plan due to lack of knowledge sharing and internal management conflicts. Debenhams is highly focused committed to developed an innovative challenging monitoring and evaluation system through which management consistently do strategic control review, according to the external and internal environment analysis, customers analysis, financial analysis, and stakeholders analysis to form effective strategies to achieve sustainable competitive advantage. Debenhams do weekly, monthly, meetings, to achieve goals and objectives, consistent strategic review meetings to align the strategy with the strategic organizational targets to , achieve goals and objectives and create value for all the stakeholders.
References and Bibliography
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