Monday, February 24, 2020

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

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