Essays on Strategic Management: Competitiveness and Globalization Assignment

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The paper "Strategic Management: Competitiveness and Globalization" is a perfect example of an assignment on management. Robin Hood’ s like many other organizations may wish to thrive well in the business environment with no cases of being unable to cope with the current conditions of the environment. Many businesses though it is hypothetical like being ever at the top in every undertaking (Comai & Tena, 2007). This means efficient production and marketing therefore counting down profits all the time. An entrepreneur is always positive-hearted in all the risk-taking projects the entrepreneur invests in.

This is the case with Robin hood’ s being commenced with fewer resources and no good organization structure but the one who initiated the project was an entrepreneur who in mind it was either success or success. This means the entrepreneur gave no room to fail. Firms manage to grow like Robin Hood’ s but when it comes to the point of maintaining the rank, it proves to be a bit hard (Comai & Tena, 2007). Such organizations should dwell on three factors hence they will be able to remain viable in the current environment.

The factors include: drawing a strategic plan and thereafter implementing it, working under strategic leadership, and trying to determine the competitive advantage the firm may have in the environment. The advantage will always be over other firms and therefore, the firm will always remain at the forefront in its undertakings. Employing the tactics in the firm and having a good look at them guarantees the firm that it is going to remain in its current position or maybe it is going to move ahead further (Hitt & Hoskisson, 2013). Robin Hood may have started the strategy formulation process by first carrying out the planning process.

This is done closely together with major decision making. The organization developed the goals and objectives that are required to achieve in the forthcoming projects. This assisted Robin Hoods in laying down the plans that it used to make the firm intact (Hitt & Hoskisson, 2013). In the formulation of the strategy, Robin Hood did stay set the required forces like capital for example to assist in putting the plans into action.

The firm should also do put in place the measures that ensured the effectiveness of the plans and management looked for personal initiative and the required skills. Robin Hood used to run its processes in a logical manner. In an implementation, the firm generally used its own organizational and managerial tools in directing the resources for it to achieve its basic mission of remaining viable (Comai & Tena, 2007). This was possible through changes in the leadership of the human resource, scanning the environment to determine whether the plans will work, developing the necessary control measures, and scanning the presence of threats that can hinder the implementation process, identifying the strengths, weaknesses, and opportunities available.

These were the major concerns done during the implementation process. The organization ensured that the leaders of this process were motivational and they had the leadership traits hence implementation was clearly done (Jan 2002). Robin Hood should be considering a change in strategy as there is a lot of technological change. Technology is core in many firms. Due to daily dynamism in technology, many firms are taking the tread of changing technology to enhance efficiency.

Most of the firms are adopting new technology to enhance and increase their output. Such a change should call for change in strategy that Robin Hood’ s had earlier applied (Hitt & Hoskisson, 2013). The second concept that calls for change in strategy is the changes in the economy like trading conditions becoming tough and economic downturns. These will require attention as the firm is still relying on the economy. Other reasons are government legislation which may have been initiated requiring some certain areas to be varied, entry of new organization behavior and skills hence may be more additional skills are required and also the challenges the firm may have encountered in its previous trading periods (Jan 2002).

Once there is a change in the strategy the above factors will be taken care of and hence the firm will be able to continue with its day to day business activities. This will also enhance the firm in remaining in the current business rank or may be able to do better hence achieve more output.

References

Comai, A. and Tena, J. (2007). Early warning systems for your competitive landscape. Society of Competitive Intelligence Professionals, Volume 10, (3).

Hitt, M. & Hoskisson, R. E. (2013). Strategic management: competitiveness & globalization. Concepts and cases / Michael A. Hitt, R. Duane Ireland, Robert E. Hoskisson. Mason, OH: South-Western Cengage Learning.

Jan, Y. (2002) A three-step matrix method for strategic marketing management, Marketing Intelligence and Planning, Vol. 20 Issue 5, pp.269-272

Pearce, J. and Robinson, R (2005). Strategic Management. New York: McGraw-Hill

Rothaermel, F. T. (2013). Strategic management: concepts / Frank T. Rothaermel. New York: McGraw-Hill Irwin.

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