"Running head: STRATEGY StrategyName of the Student:Name of the University:Author note:STRATEGY 1Strategic management is one of the integral elements for the success of entireorganization. It comprises the formulation and implementation of the planning for businessactivities so that the organization can attain pinnacle of business achievements. The strategicmanagement is also quite effective for assisting the organization to achieve long-term objectives.The strategic management can be influenced by various factors such as industry attractiveness,resource based view and competitive advantage. The current paper is focused on evaluating theimpact of these three factors on the strategic management. In order to evaluate the strategicmanagement Johnson & Johnson has been selected. The company has been in recent news due toa controversial strategic management issue, which has caused punitive damage to theircustomers. The evaluation would also help to recommend several crucial ways to enhancestrategic management by improving the application of industry attractiveness, resource basedview and competitive advantage.According to the traditional sense, the industry attractiveness refers the ease andmagnitude of the industry that can provide extensive profit to the organization (Pulles et al.,2016).In this context, it can be easily assumed that the level of ease in the industry wouldeffectively influence the strategic management of Johnson & Johnson. In addition to that, theJohnson and Johnson would be also bound to adopt innovating strategic management with therising risks within the industry. The strategic management is highly dependent on various factorsthat are related to the external market environment (Grant, 2016). The most significant factorsthat have the capability to impact the strategic management approaches are rate growth indemands of services and goods; width of margins; as well as number and strength of thecompetitors. STRATEGY 2On the other hand, the strategic management is also extensively dependent on theresource based view of the organization. The application associated to the tangible as well asintangible resources, which are at the disposal of Johnson & Johnson greatly defines the strategicmanagement of the company (Lin, & Wu, 2014). The company needs to make their businessdecision on the basis of their resources in order to gain proper success in the corporate world.The major goal of the strategic management is attaining competitive edge against thecompetitors. In this context, the resource based view is most effective approach that evaluates theorganization’s capability for attaining success (Kiss & Barr, 2015). It immensely assists toundertake proper decision in regards to attaining strategic management approach efficiently andsuccessfully.In today’s world, each organization operates in a highly competitive industry, and henceit must adopt strategies that can help it outperform its rival organizations. Herein lays theimportance of the competitive advantage of an organization (Dobbin & Baum, 2014). Johnson&Johnson intends to outperform its competitors of the market, and consequently the organizationkeeps on modifying its strategies. While the organization has been mostly popular for the babyproducts and hygiene products, the organization has recently initiated and adopted the marketdiversification policy. Hence, the organization has expanded its market by including newpharmaceutical products (Hill, Jones & Schilling, 2014). Besides, the geographical expansionstrategy is also a new strategy of the organization. Since Johnson & Johnson has been encountering stiff competition from organizationssuch as Bayer UG, Eli Lilly & Co., the organization is trying to strengthen its geographicalpresence by expanding further in Japan, the second largest pharmaceutical market of the world(Carroll, 2015). Thus, the organization is able to expand its target market, gain greater STRATEGY 3recognition, and enjoy competitive edge. Besides, the change in the strategy management of theorganization is also caused by the recent accusation brought against the organization that claimsthat the products are responsible for causing cancer. It has effectively helped the organization togain the competitive advantage over its competitors, which is most essential factor for sustainingin the contemporary competitive market. Hence, the organization has adopted a set of new CSRpolicies (Herper, 2017). The CSR policies form an integral part of the strategic management ofthe organization, as by implementing the CSR policies, the organization intends to improve itsreputation and regain consumer reputation. In addition to that, CSR policies would be alsohelpful to attain the competitive advantage over the competitors.The organization has recently committed itself to the purpose of improving the lives ofthe underprivileged women and children of the rural parts of the world, and building healthcarecapacity for training the health care experts of the underprivileged countries (Thompson et al.,2013). Besides, the organization has also started a few disease prevention campaigns as well.The adoption of these effective CSR policies, backed with effective promotion, helps theorganization gain competitive advantage over the new organizations, and helps it in gainingconsumer goodwill among the residents of different countries (Ward &Peppard, 2016). In order to achieve most desired success, Johnson & Johnson need to undertake severalmajor steps that would immensely improve its strategic management approach. First of all, theorganization needs to evaluate the market in a detailed manner and with the help of properscientific tools. This way the organization would be beneficial, as it would gain most usefulinformation for critical decision making. The critical decision making would be also benefitedwith the help of evaluating the organizational capability. In order to do that, the organizationhave to analyses its resource based strengths and weaknesses. It will help Johnson & Johnson to STRATEGY 4undertake necessary decisions for responding to the rising risks. At the same time, theorganization has to also increase its brand image around the market. The organization wouldneed positive brand presence among the customers’ perception. In order to do that, theorganization should incorporate the idea of CSR in the operation of its business activities, whichcan help it regain consumer faith. This will evidently increase the competitive advantage and theorganization would be helpful to fight the competition of the contemporary world. With the helpof these several steps, Johnson & Johnson will be improve its strategic management approacheventually. "