Strategy is the formulation, implementation and evaluation of decisions and actions to achieve objectives of business with a long-term view. Strategy of an organisation is closely connected with its mission, vision and objectives. Strategy is also considered as the ways and means of utilising the limited resources to achieve the goals defined by the company.
Assignments and essays on business strategy would need to be considered based on an organisational perspective. Usually one organisation is taken for analysing its strategy and recommending new strategies. Within the organisation, strategies can be differentiated as corporate strategy, operational strategy, business unit strategy and even team strategy.
An assignment or essay on organisational strategy would initially have to analyse the business of the organisation, the target market, products and services, target customers, geographical scope, swot analysis, PESTEL analysis, capabilities of differentiation, existing strategy, competitors and so on. Based on these factors, the existing strategy of the organisation can be identified and porters generic strategy model can be implemented or are used to analyse its existing strategy.
Recently strategic thinkers have enhanced the perspective and spectrum of analysing the organisation which now includes leadership, communication, performance monitoring, motivation and so on. While these are important factors, the organisation must consider its internal as well as external resources and this can be gained from a swot analysis.
The flow of strategy can be visualised as a top-down approach or a bottom up approach. In a top-down approach the corporate strategies developed first by the top levels of the organisation which is then broken down to business level strategy and tactical level implementation. In a bottom up approach, the tactical and business level factors are considered and strategies formulated at this level and stage which then contributes to the overall corporate strategy.
There are various models and frameworks used for strategic analysis of organisations. Ansoff matrix is one model used very commonly for business strategy essays and assignments. Under Ansoff strategy, there is a matrix formulated to identify the potential for development with one axis being the markets and the other is the products and services. The company can choose its existing markets or products and services for penetration or expansion, diversification and new product development market development. While Ansoff matrix was only a 4×4 matrix, it has now been expanded to a 6 x 6 matrix with the help of limited or partial diversification along the axis of products and services or even markets.
The strategic alignment model considers the external and internal factors and the business domain and information technology coming. Information Systems play an important role in modern organisations as it affects its internal and external functions of the company. The model by Venkataraman concentrates on Information Systems, infrastructure and processes which is an internal function and is connected to the business strategy.
The objective of any strategy is long-term shareholder value creation. The strategic thought can be considered from a customer perspective for an internal perspective. The strategic considerations from a customer perspective would be to increase the customer value proposition by focusing on price, quality, availability which are product or service attributes. The relationship based attributes such as functionality, service, partnership are also considered from a customer perspective. Branding is another function to be considered from a customer as well as an internal perspective, although some authors considers granting purely from a customer perspective. While the product related attributes are improving the cost structure and increasing the asset utilisation which is generally considered a productivity strategy, there is the corresponding opposite called growth strategy which is based on relationships and image related factors. Within the broad scope of relationship and image related attributes, strategies to ensure expanded revenue opportunities and enhance customer value which contributes to improved growth.
In any strategy management assignment is to consider porters five forces model, although in the recent periods there are several criticisms to the application of this model. This model considers the competitive advantage enjoyed by an organisation within an industry or the attractiveness of an industry. Hence it is a broad level framework for analysing whether an industry is favourable to the organisation and even all the organisations in it. Porter’s five forces model enables the better understanding of the various forces affecting the industry and the organisation. It considers the bargaining power of customers, the threat of new entrants, bargaining power of suppliers, the threat of substitute products and the internal competitive rivalry. Based on the porters five forces model, an organisation’s profitability and sustainability can be analysed.
The exploration of strategy model considers strategic position, choices and actions. Under the strategic position, the four functions differentiated as environment, purpose, culture and capability. These are necessarily internal dimensions. Based on the strategic position, the choices for the organisations are differentiated into five. Considering the choices available the action plans are formulated which are evaluated processed, organised, changed and practised.
There is another model called strategy implement and operations (SIO model for business). In this model is the strategy is considered as a portfolio of activities which isn’t implemented under the pillars of culture and infrastructure. The programs when implemented convert to operations for the company.
Clearly an assessment of the strategy of an organisation is very complicated and there is a range of models. Some of the models are provided above. The models to be used in strategy management assignments and essays are watched. Any student faced with difficulties in formulating their business strategy assignments can contact me. I offer assignment and essay writing services for business management and MBA students in the UK. I am an independent freelance assignment writer for MBA and business management students. I work on all the assignments myself and I have a two stage payment system.