Reflection on strategy management tasks Essay Example | Topics and Well Written Essays - 1250 words

Reflection on strategy management tasks - Essay Example First of all, I made an approach to understand each and every aspects of the task. Then several secondary researches were executed in order to collect suitable information and data within a quick period of time. The PEST analysis was easy to implement in this study. The recent political, economical, technological and economical scenarios of the industry can be obtained easily from text books or other academic journals. These sources helped to provide reliable data and information of the specific industry. Horizon scanning was the most difficult part in this task. It is very much difficult for a manager to estimate future threat and opportunities. Inadequate detection of early signs can affect the financial stability of the firm. On the other hand, the economic and political situation is changing constantly. Therefore, this part of the task has created several initial problems. I learned several significant and important things while completing the first task. Industry analysis and Ho rizon scanning were the two most interesting parts of this task. Through the industry analysis, an analyst can gain important knowledge about the situation of external environment. On the other hand, effective Horizon scanning can increase the future estimation and analytical skill that can increase the productivity of a manager. The second task is all about the

Business Environments Assignment Example | Topics and Well Written Essays - 2500 words

Business Environments - Assignment Example Whether for-profit or non-profit, organisations embody a very diverse and rich assortment of strategic goals that are designed around a collective objective. Organisations must meet the needs of very diverse and dynamic stakeholders whilst also taking into consideration the economic policies in the region where the organisation operates, consider existing market forces that influence decision-making, and also take into account the potential cultural aspects of important stakeholders if the organisation is to have successful outputs and outcomes. The report explores a broader definition of organisations, their role in satisfying diverse stakeholders, and the market environment that influences organisational decision-making whether for-profit or non-profit. Identifying the purpose of organisations There are many different varieties of organisations, including corporations, non-profits, cooperatives, partnerships and governments. Organisations embody a very rich assortment of goals and visions, either set-up to service the needs of diverse international stakeholders, provide a valuable product or service that enhances the welfare of consumers, elicit some form of political or social change, or improve the social welfare of stakeholders linked to the mission of the organisation. Organisations require leadership and oversight in order to ensure compliance to regulatory frameworks both domestic and international and â€Å"have the ability to call upon a common heritage of committee structures or formal meetings† (Smith 2010, p.2) to ensure the organisation is meeting its long-term goals and purpose (mission). One example of this can be found with the UK-based non-profit, the Centre for Better Health, which provides well-being to consumers through counselling services and assists individuals in the London region to better develop their employability skills. This organisation is considered a social enterprise, whereby its purpose is to provide enhanced lifestyle and health promotion to stakeholders in the region. Consisting of 20 different staff members and 50 volunteers, the Centre for Better Health elicits change in social welfare for stakeholders as aligned with its mission and vision. Yet another example of how organisations meet their purpose and satisfy social welfare improvements is the UK company Marks & Spencer, a retail organisation providing valuable products that enhance lifestyle for consumer segments. The company’s mission statement drives the majority of their business practices, aligning corporate ideology with consumer social welfare improvements. The mission statement is to provide aspirational quality that can be accessible for all consumer segments, whilst maintaining a vision of being the standard by which all other retailers are judged. Marks and Spencer maintains a very dedicated focus toward providing corporate social responsibility which again serves their purpose of enhancing social welfare. Marks and Spenc er is an ideal example of how an organisation develops systems, best practices, and labour relationships to provide a social good to society. Meeting the objectives of stakeholders The external market environment, with most organisations, dictates internal policies and the necessary organisational structure required to be adaptable to these changing conditions. Contingency theory informs organisational leadership that in order to remain relevant and