Convincing Features
Assignment Type
Subject
Uploaded by Malaysia Assignment Help
Date
Objective:
The objective of this assignment is to enhance learners’ knowledge on the understanding of concepts in strategic management.
Requirement:
According to William F Glueck (2022), the development in business policy arose from the evolution in the use of planning techniques by managers. Starting from day-to-day planning in earlier times, managers tried to anticipate the future through preparation of budgets and using control systems such as capital budgeting and management by objectives. With the inability of these techniques to adequately emphasize the role of future, long-range planning came to be used. Soon, long-range planning was replaced by strategic planning, and later by strategic management, a term that is currently used to describe the process of strategic decision making. In business policy responsibilities of senior management, the crucial problems that affect success in the total enterprise, and the decisions that determine the direction of the organization and shape its future.
Answer the following:
a. Explain the limitations of business policy and why it evolved into strategic management as a more comprehensive discipline.
b. Critically evaluate the characteristics and strategic focus of each phase in the four phases of development in strategic management, highlighting how increasing organisational complexity influenced this evolution.
c. Analyse the strategic roles of top management in each phase and explain how their responsibilities have evolved over time.
d. Discuss the value created through effective strategic management from different stakeholder perspectives (e.g., shareholders, employees, customers, and society). Support your discussion with theoretical arguments, practical organisational examples, and critical evaluation of strategic management as a dynamic discipline.
[Total: 30 marks]
Online Class Participation
Discuss the following topic(s) in the forum and submit proof of your participation in the online discussions:
1. Briefly discuss the key activities in the strategic management process.
2. “To be a leading, competitive company, recognised as a preferred corporate citizen, employer, and supplier”.
Discuss this vision statement. Does it fulfil the characteristics, principles, and guidelines for developing an effective vision? If you believe improvements are necessary, propose a revised vision statement.
3. Explain the role of stakeholders to influence operational success, reputation, and long-term sustainability of a
4. How does leadership affect strategy formulation in a business organisation? Discuss.
[Total: 10 marks]
[GRAND TOTAL: 40 MARKS]
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