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MGT 498 Week 1 Individual Assignment Strategic Management Process Paper

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Running head: STRATEGIC MANAGEMENT PROCESS PAPER 1
Strategic Management Process Paper
MGT 498
University of Phoenix

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STRATEGIC MANAGEMENT PROCESS
PAPER
2
Strategic Management Process Paper
Abstract
Strategic management serves a crucial role in today’s business environment. Consequently,
organizations are instantly constrained to formulate strategic practices of environmental scanning,
assessment of strengths and weaknesses, and the ability to identify resourceful means of acquiring a
competitive niche. The McDonald’s corporation is regarded as one of the leading organizations within the
global marketplace. As a result, the preceding discussion will analyze the organization’s strategic
management process and the benefits of having an effective strategic management process
Irrespective of the products or services an organization offers, the importance of strategic
planning in today’s business environment is crucial. Organizations are suddenly required to
establish systematic ways of studying the environment, assessing their strengths and weaknesses,
and identifying areas of opportunities to extend their competitive advantage. As Hill and Jones
(2008) points out, an organization’s strategic management process approach can be defined as
the steps it takes to ensure that the reduction of value creation costs and value creation
performance are formulated in ways that consumers are willing to pay more for the product than
it costs to produce it.
The strategic management process is a nine-step progression that encompasses the
identification of the organization’s current mission, objectives, and strategies, environmental
analysis, SWOT analysis, strategy formulation and implementation, and lastly, the evaluation of
results (Robbins & DeCenzo, 2005). This nine-step strategic management process can be seen in
Appendix A.
Once the organization’s objectives, strategies, mission, organizational, and environmental
analysis – the company subsequently evaluates any information collected in terms of
opportunities which can be utilized and any possible threats that lie ahead. In other words,

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STRATEGIC MANAGEMENT PROCESS
PAPER
3
opportunities are positive external factors and threats are negative factors. Additionally, the
aforementioned step in the strategic management process prompts an organization to evaluate its
strengths and weaknesses by appraising its internal resources.
The identification of an organization’s strengths and weaknesses is a critical core element
where strengths and weaknesses are influenced differently, as well as the firm’s competitive
advantage outcome on its strategy. The McDonald Corporation recognizes the significance of
comprehensive strategic management approaches and its central role in facilitating the
organization to sustain their competitive edge in the global marketplace (Thinking Made Easy,
2009).
The three core strategies McDonald’s have implemented to maintain their competitive
advantages are the value of its customer, customer suitability, and having optimal business
controls. Together with technical strategies, McDonald’s can develop the latest ground-breaking
ideas for the organization. McDonald’s franchises are described by many as mini facilities built
for manufacturing because they effectively and efficiently utilize varying marketing and
management approaches in their overall operations (Thinking Made Easy, 2009).
Moreover, McDonald’s improvement and functionality of their franchises have sustained
their competitive niche by keeping up-to-date with our new socially and technologically savvy
culture of consumers, combined with convenience and customer satisfaction. One of the essential
aspects of this movement towards functionality is the inclusion of Wi-Fi capabilities in their
franchises. As a result, this has become one of the highest sought-out services for their
customers. Additionally, the McDonald Corporation is unlike any other fast-food franchise in
that they effective utilize technology in combination with efficient real-time communication
means by allowing employees to immediately regulate menu prices and items in response to the

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