The paper "Key Areas of Strategic Management - QANTA, Facebook, Fortes Cue, Australian Supermarket" is an outstanding example of management coursework. Strategic planning is a process that involves setting and making analysis of long-term goals and objectives of an organization or business. Strategic planning is done effectively and efficiently through the process of analyzing and studying what is known as SWOT analysis. This process and analysis involve the study of the strengths or pillars of the business organization and also the weakness are drawbacks that the business organization experiences. This study also involves analyzing the opportunities and the threats that the business organization is exposed to.
All these analyses aid successful strategic planning in the organization. Strategic management involves the study and analysis that managers undertake in order to achieve the best and success in their organizations. The summary below expounds on the key areas of strategic management in the six case studies provided. Summary of the six case studies Case Study 1 Facebook adopted two of Whittington’ s theories of strategy. From case one it is very clear that Facebook adopted the Evolutionary and processual theories of strategy.
The Evolutionary theory of strategy emphasizes the differences in the behaviors of the companies the mechanisms they use to select their markets. Here is clear that the performance of the company is associated with the combination of forces in the selection of markets and processes that come with positive feedback. When Facebook was developed in 2004 at the Harvard University, the neighboring colleges like the application. At that time it was known as TheFacebook. After a while, a lot of people were learning about the application. This contributed to the widespread of the application to various people in the world.
Through the positive feedback from the users, Facebook, therefore, gained popularity and therefore got popular in the world (Collins and Montgomery 1998, pp 75). Case Study 2 Corporate social responsibility is a very important issue both for stakeholder management and the company at large. It governs issues to do with ethics, economic performance and improvement of the living standards of the workers. The kind of corporate social responsibility depicted by QANTA is very unfair. The management has greatly over the years failed to take corporate responsibility.
The first instance is whereby the engineers in the company go for a strike for about 3 months. This is basically due to lack of job satisfaction. Qantas management must put in place all measures necessary to ensure all stakeholders are satisfied with their jobs. QUANTA’ S have depicted a clear picture of transnational strategy. This strategy is a part of the global strategy but the company majors on a specific nation of choice. Quanta’ s has majored in Asia. They have established a full-service airline based in Asia.
This service is under a new brand. This means that they analyzed various factors and realized the need for this change. This kind of business strategy is aimed at maximizing profits in the selected areas. It was a good and smart move for Quanta’ s especially with the new brand (Birkinshaw 2004). Case Study 3 The first source of competitive advantage to Fortes Cue is the fact that they have a very highly skilled manager. Forrest is experienced and well averse and networked in issues pertaining to politics and financial matters.
To have such a qualified manager in a company is a great advantage. The company is located in the Pilbara region. This region has an awesome and conducive environment for mining and investment. The company has been in good relationship with the local communities here. This has translated to best and encouraging performance by the company of the years (Collins and Montgomery 1998, pp 75).
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