Strategic Management wk 2 Essay Example | Topics and Well Written Essays - 750 words

Strategic Management wk 2 - Essay Example In gaining the financial objectives a company has to strategise to achieve superior performance. The improvement in performance metrics, results in increased sales, greater customer satisfaction, more brand loyalty, and consequently profitability that is higher than the industry average. This is the competitive advantage of the company. The managers of the company actively strategise to gain competitive advantage and other stakeholders are its active components. An effective strategist works in close association with all the stakeholders. He can objectively conceive the corporate objectives in theory and can effectively deploy and mobilise the resources of the company for company’s objectives. He clearly identifies the corporate objectives and then chalks a corporate strategy for achievement of the goals. This involves careful analysis of the internal and external strengths and weaknesses of the organisation. The strategy is then expressed as a sequential time-bound implementation plan with clear delineation of duties and jobs. The conceptual strategic framework is then put into practice and the outcomes are dynamically monitored. The effective implementation of corporate strategy yields desired results. A strategic mission can be sold to stakeholders by projection of realistic and achievable business objectives of profitability and customer satisfaction. If we can successfully demonstrate that the company’s profitability and customer satisfaction are two sides of the same coin, and develop an organisational culture for its attainment, we can sell a strategic mission to the stakeholders. The environmental dimensions of Cquay Technologies are technological, political, and economic. The technological dimension includes the spread of web and software technology in coming times, and how the users perceive its use, in the multi-business information technology industry. The political dimensions consist of national regulatory environment of