Strategic Management Corporate Strategy Essay Example | Topics and Well Written Essays - 1750 words

Strategic Management Corporate Strategy - Essay Example Do you think your final report based upon the 5 steps chosen in question 1 above would be a valid strategic management process b. What precautions might you want to attach for readers as they read and interpret the report Yes. The final report based on these five steps listed in the earlier question will make up a valid strategic management process. However there are certain points of caution, which the readers should have in their mind. They are: 1. The strategy works towards continuous improvement of the processes or actions to reach the targets set and not to change the target itself in the name of improvement. 2. The strategy choice is based on various factors that make up the corporate strategy. However, the reader should be cautious that the alignment of this strategy to the corporate objective is as per the visualizations done. There could be gaps in them and this needs to be straightened out. 3. The reader should also note that the action plans and functional tactics are based on the various parameters that are available and the experience of the person evaluating the scope of work. There are bound to be some errors and mistakes in this evaluation. 3.(25 points)a. Compare and contrast the nature of external factors with the nature of internal factors. Give three examples each of external and internal factors. b. Discuss an example where an organization might be able to increase its control/influence over an external factor. c. Since external factors can impact the profitability of an organization, why do we have financial performance as an internal factor d. How does misclassifying an internal factor as an external factor in the EFE impact the analysis External factors that considered during analysis are: Opportunities and threats. For... The final report, that was discussed in the essay and based on the five steps, that were listed in the essay will make up a valid strategic management process. However, the researcher states that there are certain points of caution, which the readers should have in their mind. They are: The strategy works towards continuous improvement of the processes or actions to reach the targets set and not to change the target itself in the name of improvement. The strategy choice is based on various factors that make up the corporate strategy. However, the reader should be cautious that the alignment of this strategy to the corporate objective is as per the visualizations done. There could be gaps in them and this needs to be straightened out. The reader should also note that the action plans and functional tactics are based on the various parameters that are available and the experience of the person evaluating the scope of work. There are bound to be some errors and mistakes in this evaluati on. In the end of the essay, the researcher aims to compare and contrast the nature of external factors with the nature of internal factors and also gives three examples, both of external and internal factors, that can impact the profitability of an organization. In conclusion, the researcher discusses how to thoroughly analyze the proposed strategy selection of strengthening the strengths of the company and to capitalize on the same to cash in on the opportunities has been done after a detailed analysis of the existing scenario.