Business Managment: The Strategic Management process

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Comment on the tools used to express strategic intent of each company. Over the last few decades business strategy has evolved substantially. Management of any business must constantly evaluate and analyze internal environment strength and weaknesses, and monitor external environment for threats and opportunities. Firms must define their positions and develop sustainable competitive advantages in the face of these competitive challenges and threats. (Casadesus-Masanell, R and Enric Ricart, J, 2010) It’s expected of management to consider these changes and adjust strategy as and when needed. Strategic management is about change, and planning to survive amid change. (Smit, PJ et al., 2007). According to Thompson (2012) developing a strategic vision and mission, setting objectives, and crafting of a strategy are basic direction setting tasks. Combined they form strategic plan or strategic intent to move organisation to achieve goals. Strategic Management process consists of five interrelated managerial stages (Thompson, AA et al., 2012) Stage 1 : Developing a strategic vision, a mission, and a set of values Stage 2: Setting objectives Stage 3: Crafting a strategy to archive those objectives Stage 4: Executing the chosen strategy Stage 5: Monitor strategic developments, evaluating execution performance, and making adjustments Above process will be used to evaluate selected organizations current strategic management process. We will also look at alternative tools used by same organizations to express their strategic intent. For the evaluation we have used mentioned three Company’s websites and annual reports. Stage 1 of strategic management process. The vision Every organization requires an inspiring vision to lead them to what th... ... middle of paper ... ...here are opportunities for growth, especially in sustainable environmental friendly products. There also exists strong growth potential in African Countries. Lifting of consumption tax in Angola, for example, increased sales volume for beverages exceptionally well. (Nampak Website – Operational Report) Nampak Limited trading profit from operations in 12 African countries year to September 2013, soared 60% to R506m, resulting in 26% of group trading profit. If you include exports from South Africa, Africa produced 36% (R690m) of group trading profit. By comparison, Shoprite in its year to June 2013 generated a trading profit of R613m from its African operations — 11,4% of the group total (Thomas, S 2013) The packaging industry definitely offers attractive profit opportunities for current packaging businesses. Its however not a market easily assessable for newcomers.

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