Benefits and limitations of strategic management

Benefits and limitations of strategic management The overall objective of any strategy is to ensure long-term survival. Strategic management is the process determined by specific persons to establish and implement the integrated concept that has already been described.† (Philip, Roland, & Nils, 2008, p.14). Strategic management emphasizes the strategic positioning and operating system efficiency, and it is generally regarded as the modern enterprise’s success. Each company will take appropriate strategies based on external environment and internal resources. After the implementation of these strategies, some will become potential benefits, while some will be the limitation to restrict development of enterprises instead of promoting. In the report, Tiger Airways Australia was chosen as the object of study. Tiger Airways Australia, a Singapore based subsidiary of Tiger Aviation, is a low cost airline currently servicing the Australian domestic market. Tiger Airways Australia commenced operations on 24 November 2007 as a domestic airline from its principal base at Melbourne, Victoria. Tiger made different strategies to enter the aviation in Australia to gain market share and win customers. Tiger have to face competition from Virgin Blue and Jetstar. The report discussed its strategies and the potential benefits and limitations can be analyzed in such different ways. The understanding of strategic management Strategy and strategic management have long been viewed as the concept and process that link an organization and its competitive environment. The traditional approaches to strategic management are in keeping with Newton’s mechanistic model of the universe and Fayol’s view of the management function. (Thomas, Marius, & Sven, 2006, p.68). The existing strategic management system -including defined purpose (vision, mission, objectives, etc.), organizational structure, planning processes, measurement practices, core competency focus, human resource management, culture norms, and evalua tion and reward systems – is more a source of organizational inertia than a proactive force for dynamic change (Thomas et al., 2006, p.73). Strategic management is necessary to position the firm a way that will assure its long-term survival in a competitive environment. (Paul, Ken, & John, 2004, p.3). Innovation always point to the reformulation of the strategies of a firm, therefore, strategic management is also about innovation. (Manikant ,2008, p.235) Components of strategic management process The various components of the strategic management process are including strategic planning strategy process, strategic decisions, strategy formulation, strategy implementation, and strategy change. The planning, balancing and positioning approaches to strategic management can be grouped as outward-in approaches, i.e. first analyzing the external environment and then analyzing and competitively gearing the internal environment. (Thomas et al., 2006, p.71). The strategic management pr ocess is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. (Michael, R, & Robert, 2009, p.6) Tiger Airways Australia was chosen as the object of study. Australian market continued to be attractive for existing operators based on strong economic growth. Economic growth would benefit to development of the aviation industry (â€Å"Australia in brief†, n.d., 2008).And Tiger chose appropriate time to enter Australian aviation market. From the external transactions, Tiger gains the support of the state, has a very strong financial support and makes good use of economic forces. It took low-cost strategy. The potential benefits and limitations are analyzed as following through the implementation of internal and external strategic management. The ultimate goal of strategy is to create value for the firm, while the role of strategy analysis is to identify and exploit the sources of this value. (G rant, 2010, p.63)

FaceBook And Romantic Relationships Essay Example | Topics and Well Written Essays - 1000 words

FaceBook And Romantic Relationships - Essay Example A recent debate over a local radio station caught my attention when the discussion revolved around a woman who felt cheated and silly over a love affair that started over the face book and hardly lasted two months before she invited the lover (man) into her place of residence. She only learnt that after engaging in romance that the man left her, no more communication while she could easily identify that the man was now hooked up in another romantic relationship over the social media. The phone calls that were made into the studio in contribution to the motion surprised me the more on how many people fall into the trap of exposing their romantic lives over the social media and only to fall prey to such ‘romantic stalking’ persons whose intention is only to have personal gratification and nothing of a long lasting relationship. This therefore gave me the challenge to research deeper into the long lasting effects that Face book, among many other social media has to persons especially concerning romantic relationships. This paper hence intends to evaluate the impacts of face book to personal lives and how such negative effects can be dealt with the ever-increasing need to have face book for ease of communication and keeping circles of friends. Justification Social media has been acknowledged in the past for the positives it brought about in people’s lives especially in matters of communication and sharing of information. It was highly accepted that face book in particular has attracted very many people who find it cheap and convenient manner to keep circles of friends when compared to the means that were in use previously such as through mails, print and digital media as well as through telephone services. Face book was credited of communicating with millions of friends worldwide through just the click of the mouse at once convenience. Equally, receiving feedback from face book is such an easy task as compared to the other communication ways hen ce the ease of adoption (Vitak, Ellison and Steinfield, 2011). Nevertheless, despite such numerous advantages in use of face book, the social plat form has continuously faced critiques because of the increasing negatives that are stemming from the same. For instance, the increasing exposure of personal information through posting personal profiles online increasingly put people into threats such as security and such. People are increasing becoming targets of cyber crime due to the personal information that one shares on the platform. One emerging trend is the use of face book to establish and maintain romantic relationships. Technology has been blamed on failing to conceal personal sensitive information and as such exposing such an individual to high risks. Therefore, this study would be timely in that it would look into detail the impact of face book on personal lives with special attention to romantic relationships and evaluate probable solutions to such shortcomings (Flynn, nd; R aalte et al, nd). Literature review There are various studies that have been done in regard to the revolution that face book and such social platforms have brought in people’s lives. This section therefore looks into some different studies that have been done in the past and establish their contributions to the study topic under analysis. Utz and Beukeboom sought to understand the effect of social media into romantic relationships concerning happiness and jealousy. They pointed out that social network sites expose too much of individual romantic relationship information which has both positive attributes (happiness) as well as negative attributes (jealousy) associated with it. The emotional traits associated

Training and Development in Tesco Assignment Example | Topics and Well Written Essays - 1000 words

Training and Development in Tesco - Assignment Example This is aimed at the analysis of instilling a sense of inclusiveness in the workers as well as their commitment. Since Leahy’s resignation announcement, drastic changes were witnessed in its stock market, which witnessed a sharp drop in the value of Tesco’s shares. From the above, it was evident that Tesco needed to instill confidence in its customers and the public hence there was a re-engineered customer service mechanism in operation for sustenance of Leahy’s transformational leadership style that saw Tesco’s unprecedented rise in the last one and a half decade (Bass,1990) . Tesco has further undertaken transformational change in its organization so as to become the carbon-zero company. This change has been through reducing energy usage and then getting the rest of the energy it uses from renewable sources. In the last few years, a Tesco has developed a supermarket that is zero carbon in its operation, but not its build. Tesco has extended its effort to both its supply chain and its customers’ carbon footprint. Tesco also wants to make it easy for staff to understand how they can change the way they work to promote carbon reduction. More so over the last three years Tesco has committed huge resource in its training and development programme. It has made progress toward achieving this by being the first supermarket to have its apprenticeship training programme accredited. This has been eating achievement for the company. This is in line with its strategy of improving its workforce and getting the best out of it. Tesco further introduced Tesco club card which is a kind of customer loyalty card.