...The article focuses on the main aspects of Ansoff analysis. The four strategic options entailed in the Ansoff matrix are discussed along with the risks inherent with each option. The article includes tips for students and analysts on how to write a good Ansoff analysis for a firm. Moreover, sources of findings information for Ansoff analysis have been discussed. The limitations of Ansoff analysis as a strategic model have also been discussed. Introduction The Ansoff matrix presents the product and market choices available to an organisation. Herein markets may be defined as customers, and products as items sold to customers (Lynch, 2003). The Ansoff matrix is also referred to as the market/product matrix in some texts. Some texts refer to the market options matrix, which involves examining the options available to the organisation from a broader perspective. The market options matrix is different from Ansoff matrix in the sense that it not only presents the options of launching new products and moving into new markets, but also involves exploration of possibilities of withdrawing from certain markets and moving into unrelated markets (Lynch, 2003). Ansoff matrix is a useful framework for looking at possible strategies to reduce the gap between where the company may be without a change in strategy and where the company aspires to be (Proctor, 1997). Main aspects of Ansoff Analysis The well known tool of Ansoff matrix was published first in the Harvard Business Review (Ansoff...
Words: 3236 - Pages: 13
...10.8.2 Diversification 10.8.3 Modernization 10.8.4 Merger 10.8.5 Joint Venture Crisis in Business Growth Summary Glossary Self Assessment Questions Further Readings 10.7 10.8 10.9 10.10 10.11 10.12 10.13 10.0 INTRODUCTION In earlier units we discussed the processes involved in the setting up of commercially viable and technically feasible small scale enterprises (SSE). We also examined the processes of finding an ideal location and layout for a SSE. In this lesson we will take a view of different alternatives available for the growth of a small scale enterprise. Business growth is a natural process of adaptation and development that occurs under favorable conditions. The growth of a business firm is similar to that of a human being who passes through the stages of infancy, childhood, adulthood and maturity. Many business firms started small and have become big through continuous growth. However, business growth is not a 137 homogenous process. The rate and pattern of growth varies from firm to firm. Some firms grow at a fast rate while others grow slowly. Also, not all enterprises survive to grow big. This may be due either to the nature of the firm or the entrepreneur. Some entrepreneurs do not want to grow their ventures, choosing instead to pursue other interest, spend more time with family or develop other business activities. 10.1 OBJECTIVES After going through the lesson you should be able to: • Explain the meaning and need for growth • Discuss the benefits...
Words: 6665 - Pages: 27
...STRATEGY IS AN ILLUSION. DISCUSS 1.0 INTRODUCTION Every business organisation exists for the purpose of fulfilling certain goals and objectives as outlined by them. The fulfillment of these goals and objectives may bring benefits to the organisation and to various stakeholders such as shareholders, customers, the general public, the government, etc. In order to implement these goals and objectives in a systematic and orderly manner, management must evolve a game plan to do this. This game plan is known as strategy. According to the Oxford Pocket Dictionary, strategy is defined as “the art of war especially, the planning of movements of troops and ships into favourable positions, plan of action or policy in business” Scholes & Johnson (2001) also define strategy as “the direction and scope of an organisation over the long term; which achieves the advantage for the organisation through its configuration of resources within a changing environment, to meet the needs of the markets and to fulfill stakeholder expectations” Thompson & Strickland (1998) also generally define strategy as competitive moves of business approaches to produce successful performance. It is management’s game plan for: * running the business * strengthening the firm’s competitive position * Satisfying customers * Achieving good business performance * Position a company in its chosen market In effect, without strategy the shaping of an organisations business activities coordinated...
Words: 2724 - Pages: 11
...gerry JoHnson KeVan sCHoles rICHard WHIttIngton Fundamentals oF strategy ACCESS CODE INSIDE unlock valuable online learning resources Once opened this pack cannot be returned for a refund Welcome to FUNDAMENTALS OF STRATEGY Strategy is a fascinating subject. It’s about the overall direction of all kinds of organisations, from multinationals to entrepreneurial start-ups, from charities to government agencies, and many more. Strategy raises the big questions about these organisations – how they grow, how they innovate and how they change. As a manager of today or of tomorrow, you will be involved in influencing, implementing or communicating these strategies. Our aim in writing Fundamentals of Strategy is to give you a clear understanding of the fundamental issues and techniques of strategy, and to help you get a great final result in your course. Here’s how you might make the most of the text: ● Focus your time and attention on the fundamental areas of strategy in just 10 carefully selected chapters. Read the illustrations and the case examples to clarify your understanding of how the concepts of strategy translate into an easily recognisable, real-world context. Follow up on the recommended readings at the end of each chapter. They’re specially selected as accessible and valuable sources that will enhance your learning and give you an extra edge in your course work. KEY CONCEPT AUDIO SUMMARY ● ● Also, look out for the Key Concepts and Audio Summary icons...
Words: 129967 - Pages: 520
...opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades | Grade Descriptor | Indicative characteristics | Contextualisation | M1 Identify and apply strategies to find appropriate solutions, by using complex problems with more than one variable have been explored | Effective judgements have been made.An effective approach to study and research have been applied | M1: To achieve M1 you need to identify some of the types of benchmarking strategies used by organisations and analyse at least four of the stages used in Benchmarking, state some of the advantages of using the technique OR Identify and analyse the 7 elements in McKinsey’s model (Task1) | M2 Select/design and apply appropriate methods/techniques, by using a range of sources of information | Appropriate learning methods/techniques have been applied | M2: To achieve M2 you need to compare, strategies and demonstrate how they (PESTEL and Porter’s Five Forces ) influence your chosen organisation or as (Task2) | M3 Present and communicate appropriate findings by using an appropriate structure and approach | Coherent, logical development of principle/concepts for the intended audience. | M3: To achieve M3 Present or communicate your choice or chosen strategy using any structured method or approach. (Task 2) | D1 Use critical reflection to evaluate own work and justify valid conclusion | Conclusions have been arrived at through synthesis of ideas and have been justified.Realistic...
Words: 4266 - Pages: 18
...the following ) 1.1 Discuss the role of strategic marketing in an organization. For AC1.1, learners need to show that they understand the difference between strategic and tactical marketing. They need to use established models and definitions to develop theirdiscussion. 1.2 Explain the processes involved in strategic marketing. For AC1.2, learners will be expected to understand and explain the processes involved in strategic marketing. This will involve looking at a range of processes and learners may wish to draw on their own experiences in the workplace to amplify their points. 1.3 Evaluate the links between strategic marketing and corporate strategy For AC1.3, learners are expected to understand that the process of strategic marketing does not take place in a vacuum. They will need to show that they can evaluate the links between strategic marketing and corporate strategy and provide examples of those links. 2.1 Assess the value of models used in strategic marketing planning. For AC2.1, learners need to research the models used in strategic planning. They will need to make judgments and assess the value of the models for strategic marketing planning. 2.2 Discuss the links between strategic positioning and marketing tactics. For AC2.2, learners need to understand that when strategic plans are put into operation, dayto-day tactical decisions have to be made. In their discussion, they need to provide examples of how tactics are related to strategic positioning decisions...
Words: 7427 - Pages: 30
...Strategic Analysis for Crocs, Inc. To Increase Competitiveness in Shoe Industry Unit Code and Name: MGW1010 Introduction to Management Lecturer: Dr Esther Chong Tutor: Ms Aziana Word Count: 3300 word, excluding header and reference Contents Executive Summary i 1.0 Introduction 1 1.1 Purpose 1 1.2 Company Information 1 1.3 Assumption 1 1.4 Methodology 1 1.5 Plan of Report 1 2.0 SWOT Analysis 3 2.1 Identification of Strengths 3 2.1.1 Well recognized and financially sound 3 2.1.2 Have propriety rights over CrosliteTM material 3 2.2 Identification of Weaknesses 3 2.2.1 Expansion is a dilemma 3 2.2.2 Seasonal usage 3 2.3 Identification of Opportunities 4 2.3.1 Further exploration of the Asian market 4 2.3.2 Online sales 4 2.4 Identification of Threats 4 2.4.1 Replicas and imitation 4 2.4.2 Anti- Crocs Sentiment 5 3.0 Evaluation of Alternative Strategies 6 3.1 Proposed Alternative Strategies 6 3.1.1 Pursue diversification 6 3.1.2 Pursue vertical integration 7 3.2 Selection of Best Strategy 9 4.0 Implementation of Selected Strategy 10 4.1 Controlling Function 10 4.1.1 To implement feedforward control 10 4.1.2 To implement concurrent control 10 4.1.2 To implement feedback control 10 4.2 Organising Function 11 4.2.1 To introduce departmentalization 11 4.2.2 To execute formalisation 12 4.2.3 To implement decentralization 12 5.0 Conclusion 13 6.0 Reference List ii Executive Summary The purpose...
Words: 4855 - Pages: 20
...STRATEGIC MANAGEMENT Page No. 01. Syllabus 03 02. The Nature of Strategic Management 04 03. Management Accounting Business Strategy 21 04. Q & ANS : Business Environment 39 05. Q & ANS : Business Policy & Strategic Management 48 06. Q & ANS : Strategic Analysis 57 07. Q & ANS : Strategic Planning 65 08. Q & ANS : Formulation of Functional Strategy 71 09. Q & ANS : Strategy Implementation & Control 79 10. Q & ANS : Reaching Strategic Edge 85 11. Case Studies 93 12. Short Questions 99 Paper 6: Information Technology and Strategic Management (One paper – Three hours – 100 Marks) Level of Knowledge: Working knowledge Section A: Information Technology (50 Marks) Section B: Strategic Management (50 Marks) Objectives: (a) To develop an understanding of the general and competitive business environment, (b) To develop an understanding of strategic management concepts and techniques, (c) To be able to solve simple cases. Contents 1. Business Environment General Environment–Demographic, Socio-cultural, Macro-economic, Legal/political, Technological, and Global; Competitive Environment. 2. Business Policies and Strategic Management Meaning and nature; Strategic management imperative; Vision, Mission and Objectives; Strategic levels in organisations. 3. Strategic Analyses Situational Analysis – SWOT Analysis, TOWS Matrix, Portfolio Analysis – BCG Matrix. 4. Strategic Planning Meaning, stages, alternatives...
Words: 44130 - Pages: 177
...STRATEGIC MANAGEMENT Page No. 01. Syllabus 03 02. The Nature of Strategic Management 04 03. Management Accounting Business Strategy 21 04. Q & ANS : Business Environment 39 05. Q & ANS : Business Policy & Strategic Management 48 06. Q & ANS : Strategic Analysis 57 07. Q & ANS : Strategic Planning 65 08. Q & ANS : Formulation of Functional Strategy 71 09. Q & ANS : Strategy Implementation & Control 79 10. Q & ANS : Reaching Strategic Edge 85 11. Case Studies 93 12. Short Questions 99 Paper 6: Information Technology and Strategic Management (One paper – Three hours – 100 Marks) Level of Knowledge: Working knowledge Section A: Information Technology (50 Marks) Section B: Strategic Management (50 Marks) Objectives: (a) To develop an understanding of the general and competitive business environment, (b) To develop an understanding of strategic management concepts and techniques, (c) To be able to solve simple cases. Contents 1. Business Environment General Environment–Demographic, Socio-cultural, Macro-economic, Legal/political, Technological, and Global; Competitive Environment. 2. Business Policies and Strategic Management Meaning and nature; Strategic management imperative; Vision, Mission and Objectives; Strategic levels in organisations. 3. Strategic Analyses Situational Analysis – SWOT Analysis, TOWS Matrix, Portfolio Analysis – BCG Matrix. 4. Strategic Planning Meaning, stages, alternatives...
Words: 44130 - Pages: 177
...Section B: Strategic Management (50 Marks) Objectives: (a) To develop an understanding of the general and competitive business environment, (b) To develop an understanding of strategic management concepts and techniques, (c) To be able to solve simple cases. Contents 1. Business Environment General Environment–Demographic, Socio-cultural, Macro-economic, Legal/political, Technological, and Global; Competitive Environment. 2. Business Policies and Strategic Management Meaning and nature; Strategic management imperative; Vision, Mission and Objectives; Strategic levels in organisations. 3. Strategic Analyses Situational Analysis – SWOT Analysis, TOWS Matrix, Portfolio Analysis – BCG Matrix. 4. Strategic Planning Meaning, stages, alternatives, strategy formulation. 5. Formulation of Functional Strategy Marketing strategy, Financial strategy, Production strategy, Logistics strategy, Human resource strategy. 6. Strategy Implementation and Control Organisational structures; Establishing strategic business units; Establishing profit centres by business, product or service, market segment or customer; Leadership and behavioural challenges. 7. Reaching Strategic Edge Business Process Reengineering, Benchmarking, Total Quality Management, Six Sigma, Contemporary Strategic Issues. The Nature of Strategic Management The Concept of Strategy: 1. Strategy. ‘A course of action, including the specification of resources required, to achieve...
Words: 44277 - Pages: 178
...reproduced in any form or by any means, without the prior consent of one of the copyright owners. Initial enquiries should be addressed to RDI Consultants Ltd. The right of RDI as the authors of this workbook has been asserted in accordance with the Copyright, Designs and Patents Act 1988. First published in 2003 for RDI Consultants Ltd RDI Midland Management Centre 1A Brandon Lane Coventry CV3 3RD rdi Business Strategy Contents How to use this workbook Introduction Unit 1 Strategic Planning Introduction Strategic contexts and terminology An evaluation of the strategy framework Differing approaches to strategy The planning process Strategic planning summary References 1.1 1.2 1.18 1.25 1.30 1.36 1.37 Unit 2 Strategy formulation Introduction Environment auditing Assessing current market position Strategic direction The internal audit The formulation of strategy Strategy formulation – summary References 2.1 2.2 2.7 2.24 2.34 2.49 2.52 2.53 Unit 3 Strategic implementation Introduction The realisation of strategic plans to operational reality Resource allocation Review and evaluation Unit summary Module summary References 3.1 3.2 3.14 3.25 3.27 3.28 3.29 rdi How to use this workbook This workbook has been designed to provide you with the course material necessary to complete Module 8 Business Strategy by distance learning. At various stages throughout the module you will encounter icons as outlined below which indicate what you are required to do to help you learn. This Activity...
Words: 29797 - Pages: 120
...Japanese cars gets assembled and marketed in America. Virtually everybody is connected through Internet throughout the world. The world around us seems completely borderless. (Steger, 2009) The globalization of food retail super market industry has developed extensively in the supply chain retailing. It has made a greater impact on the public consumer market. The globalization has forced the local food retailers to think beyond retailing in the domestic markets for sustainable growth and presence. The global food retailing industry is a complex collection of diversified supermarket chains, independent food stores, and direct-to-consumer services that supply much of the food consumed today. The successful food retailers usually follow two strategic formats which are as follows: * Discount Outlets These kind of global food retailers work in same format in all the divisions regardless of what country they are operating in. They also keep the same products for retailing. This system usually follows adopting the same distribution channels and maintaining centralized distribution centres. The prime examples of this format of global food retailers are Lidals and Aldi. * Hypermarkets In this...
Words: 3699 - Pages: 15
...International Human Resource Management 2 University of London Course Introduction and Overview Centre for Financial and Management Studies 3 1 Course Objectives This course aims to introduce you to the study and practice of International Human Resource Management (IHRM). To benefit from this, you need, of course, to have a basic understanding of Human Resource Management (HRM) itself. HRM has developed from personnel management, but instead of concentrating primarily on the hiring and firing of staff, it is the strategic and coherent approach to the overall management of an organisation’s most valued assets – the people working there who contribute to the objectives of the business1. Its main aim is to develop personnel policies that improve employee relations at work. This course will, therefore, begin with an examination of the history and nature of Human Resource Management, before embedding it in its international context. In Unit 1, you will learn about the main tasks involved in HRM: • human resource planning • job...
Words: 8611 - Pages: 35
...definitions(tell about several definitions and about resources and goals). Rule of successful management .Difference between management and administration Management definitions: * The process of organizing methods ,manpower and other resources to achieve organizational goals * Is more than art and science Managing is working with and through people to accomplish the objectives of both the organization & its members. * It means art or skills of directing human activities and physical resources in the attainment of predetermined goals. * According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, to coordinate, and control”. * According to Louis Allen, “Management is what managers does in the organisations”. * Is the process of using what you have { RESOURCES }, to do what you want to do …. {GOALS} 6 categories of resources: * People, Money, Time, Work Procedures, Materials, Equipment GOALS * Profit Levels or Maximum cost levels ,Maintenance or growth of financial strength, Quality standards, Management concerns, Professional obligations, Societal concerns WHAT IS MANAGEMENT? Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively. Coordinating and overseeing the work of others is what distinguishes a managerial position from a non-managerial one. However, this doesn’t mean that managers can do what they want anytime or in any...
Words: 12027 - Pages: 49
...UNIT 1 i Overview of strategic management Unit 1 BMG 303/05 Strategic Management Overview of Strategic Management ii WAWASAN OPEN UNIVERSITY BMG 303/05 Strategic Management COURSE TEAM Course Team Coordinator: Dr. Chuah Poh Lean Content Writer: Dr. Hasliza Abdul Halim Instructional Designer: Mr. Khoo Chiew Keen Academic Member: Ms Lum Li Sean COURSE COORDINATOR Ms. Loo Saw Khuan EXTERNAL COURSE ASSESSOR Associate Professor Dr. Haji Hamzah Dato Abdul Rahman, Universiti Utara Malaysia. PRODUCTION Editor: Pelangi Sdn. Bhd. In-house Editor: Mr. Khoo Chiew Keen Graphic Designer: Deam Enterprise Wawasan Open University is Malaysia’s first private not-for-profit tertiary institution dedicated to adult learners. It is funded by the Wawasan Education Foundation, a tax-exempt entity established by the Malaysian People’s Movement Party (Gerakan) and supported by the Yeap Chor Ee Charitable and Endowment Trusts, other charities, corporations, members of the public and occasional grants from the Government of Malaysia. The course material development of the university is funded by Yeap Chor Ee Charitable and Endowment Trusts. © 2013 Wawasan Open University All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from WOU. Wawasan Open University (KPT/JPT/DFT/US/P01) ...
Words: 23866 - Pages: 96
