Reference no: EM133201535 , Length: Wrod Count: 1000 words.

Assignment: Strategic Management Paper

Learning Outcomes:

I. Exemplify and explain key concepts in the field and appraise the role and significance of these factors in the business context

II. Explain how theory informs the stages involved in the strategic management process.

III. Evaluate how certain factors influence an organisation's strategy and explain and critically appraise how strategic decisions might impact various levels of an organization.

Introduction

In order to succeed in business, it is equally important to realise how and why some companies succeed while others struggle to survive or fail. This also helps businesses to better understand their own strengths and weaknesses.

Therefore, in the workplace, it is common for management to commission reports that analyse the competition with a view to proposing recommendations to improve a company's own potential.

Task

Choose a company that is struggling or has failed, e.g. has closed down, made staff redundant, downsized. With reference to relevant theories and studies, critically analyse the company in order to better understand the reasons for its decline. Furthermore, compare the company's methods and strategies to a successful company from the same industry. Finally, make recommendations for how the company could recover in light of your findings and your knowledge of how the industry is evolving.

Structure:

There are four main sections of the report to be completed. The word counts included are for guidance only:

Section I: Introduction (200 to 300 words):

1. Purpose of the report, its structure, and potential sources of information to be used

2. Brief overview of the company that failed and the industry the company operates in

3. Brief explanation as to the reasons why the selected company failed, or it is struggling in the market.

4. Overview of the successful company including industry and products/services.

Section II: Critical Analysis (300 to 500 words): In this section you will be explaining the reasons, which in your opinion, contributed to the chosen business's failure. You will carry out research and use theoretical concepts to examine the main factors that affected the company's operations in the market. You should include:

1. What decisions/strategies led to its failure/decline

2. Relevant analysis of the external environment using elements of PESTLE, Porter's Five Forces, Strategic Drift, and any other relevant theory covered in lessons, which may have had an impact on the firm's failure.

Section III: Competitor Analysis & Comparison (750 to 1000 words): In this section you will provide a strong understanding of the market in which the failed company operates or used to operate. You will need to demonstrate knowledge of competitors, and the changes taking place in that market. You should include:

1. The effect that competition had on the failure of the company. Give an overview of their main competitors. Apply Porter's Five Forces, Ansoff Matrix, Game Theory, Scenario Analysis, and other theoretical concepts learnt in lessons, as required.

2. An examination of a successful competitor and compare and contrast their methods and strategies with those of the struggling/failed business. In addition to the theoretical concepts mentioned above, carry out a SWOT analysis of the successful company and include it as an appendix on a page before the list of references.

3. A brief summary of the importance for companies to renew or review their strategies in order to face the challenges of competitors.

Section IV: Conclusion & Recommendations (300 to 500 words): In this section you will demonstrate a good understanding of the ways in which markets evolve and how this affects the position of businesses in a given market. You should include:

1. An evaluation of how the market might evolve and the likely impacts on the selected industry. You will use the theoretical concepts learnt in lessons plus your own background knowledge and the research you conducted to complete this report for this purpose.

2. A recommendation of a potential strategy for the failing/failed company to move forward if there is a possibility to do so, or offer recommendations to existing or new firms about the factors to be aware of, to avoid strategic drift.