STRATEGIC MANAGEMENT Assignment Example | Topics and Well Written Essays - 3000 words

STRATEGIC MANAGEMENT - Assignment Example It involves in developing policies and fulfils organisational objectives. The organisations develop many framework and models based on the competitive and complex environment to develop strategic management system. It is not static in nature. It keeps on changing with the market scenario. The models in the strategic manage sometimes included a loop for giving feedback for monitoring the plan and developing the next level of plan. It helps to develop a systematic co ordination, mission, and vision of the business. It transforms plans into system which provide performance and feedback helping in the growth of the business. In this case study a large telecommunication company is used namely Apple. The company has developed many new products and has used its strategies very efficiently that the businesses generate maximum revenue from that. Although Apple is successful and globally renowned brand, but the strategy they have used for their business in line of vision is quite different wit h respect to other telecommunication companies. The strategies of Apple have been analysed of the basis of models like McKinsey’s 7-S Framework, Porters Generic Strategies, and Porter’s Diamond Strategies to understand their way of thinking. Where is there are lot of firms in existence in today’s market place only few can call themselves to be profitable and the rarest of rare can enjoy a global position, recognition and aura around them as Apple. Although there are many factors that determine the success of one company and failure of another selecting an effective strategy may be termed as the first step (Tallman, 2010). Porter’s generic Strategies go on to describe how a company applies a particular strategy to establish its competitive advantage over its rival. According to Porter there are three types of generic strategies: Lower cost, Differentiation and focus. The