Strategic Management Assignment Example | Topics and Well Written Essays - 750 words

Strategic Management - Assignment ExampleThe existing laws and regulations have to be followed by the cheek and the display panel of directors implementing corporate governance does not have any say in such laws. Corporate governance is a complex process that takes into account solely the activities within the system of rules and possibly even outside the organization. It directly impacts the perceived quality of the organization among the consumers as well as the community therefore the organization uses this as a benchmark for developing the culture and rules within the organization. PART B According to me, strategy is the purpose of the organization and it aims to make sure that the organization is able to develop an edge in the market despite the increasing competition. Strategy needs to align with the vision and missionary station of the organization and it would be a collective effort rather than a collection of initiatives undertaken by different managers. If managers are free to develop their own strategy, they may risk losing the vision and mission of the organization. If however, the initiatives taken by the managers are being taken after considering the aims and vision of the organization then the action may be defined as a strategy. Strategic Management is indeed the level of managerial activity that falls between goals and tactics. It is the goals of the organization that define the strategy of the organization and strategic management on the other hand influences the tactics that the organization adopts in order to fulfill the goals identified. PART C a) Corporate governance is greatly dictated by impertinent regulation. This is because the organization has to answer to a number of stakeholders which includes the external and the internal stakeholders also. These stakeholders demand that the organization acquiesce with the external regulations. For example, the employees within the organization would demand that the organization comply wit h the Equal Employment Opportunity Act. If the organization fails to comply with such acts it would likely be held accountable by the law. Thus, an organization needs to consider external regulations forward forming or revising its own corporate governance. b) Gamble is quite correct in his view that strong wits lead to good corporate governance. This is because it is the responsibility of the board to develop corporate governance which would later impact all level of the organization including the culture of the organization. However, Gamble did not take into account the fact that power structure within the organization often limits the power of the board in ensuring that the rules and regulations developed in the corporate governance are being followed properly and in the sprightliness that they are meant to be followed (Hill and Jones, 390). PART D In my opinion, there are only three generic strategies which are cost leadership, differentiation and segmentation. Some may incre ase the categories to be five in number but I believe they are just repeating the same strategies, albeit minor changes. I do not think stuck in the middle is a strategy. I am saying this because a mix of strategy would be no strategy at all. By incorporating all aspects of the three generic strategies, the organization would lose its control over either one of the strategies. For example, consider the fact that LOreal introduces mascara that is believed to add purposeless length to the lashes as a