Online Strategy Assignment Help
A strategy is both an art and science of formulating, evaluating, and implementing viable ideas that can help an organization achieve its goals. It encompasses a company’s mission, vision, plans, and policies that define the course it should take to realize its objectives. Also, a strategy often outlines the necessary resources that are required to accomplish the predetermined goals.
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The two main processes of strategy
A strategy involves explicitly two initiatives that are taken by the top management of the company. Our strategic assignment help professionals have explained them below:
In the formulation stage, the management analyzes the market condition and comes up with strategic ideas that can help the company gain a competitive edge over its rivals. There are several factors considered when formulating a strategy. They are:
- The nature of the business done by the firm
- The target market of the product manufactured by the company
- The purchase patterns and characteristics of the customers
- The geographical location of the business
- Product differentiation ability
- Opportunities and threats
Implementation is the alignment of resources with the strategy to help the company attain its goals. Before implementing any strategy, the top management must consider factors such as resource structuring, leadership style, communication channels, management, performance monitoring, etc.
Companies need to evaluate and take control measures towards the achievement of objectives. Our strategy assignment help can help you understand these concepts better. Place your order with us today and receive first-class assistance from Ph.D. qualified MBA experts.
Strategy formulation at different business levels
There are a variety of strategies formulated and implemented at different levels within an organization. We have highlighted some of them below:
- Corporate strategy
This type of strategy involves the evaluation of the overall scope of the line of business and the purpose of operations of the organization. A corporate strategy aims to fulfill the expectations of both the internal and external stakeholders. It is very crucial to get it right when formulating strategies for this business level because it is highly influenced by investors. Furthermore, corporate decisions are complex and should conform to the mission statement of the organization.
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- Operational Strategy
Operational strategy gives direction to the functional units of an organization. It focusses on the flaws of employees, resources used, the process of production, inventory control, and quality control.
- Business Unit Strategy
This is the strategy adopted to handle individual target markets. A Business unit strategy considers the new opportunities available, customer expectations, and decisions on products, among other factors that can help the company gain a competitive advantage.
- Team strategy
A team strategy is formulated by a group of employees working together or in the same department to accomplish their objectives. In any company, every department is assigned a distinct set of targets and goals that they must meet. As a result, it is vital that they come up with robust team strategies to guide them.
- Linear Strategy
A linear strategy is the process of planning, making decisions, and taking actions regarding the feasible objectives of an organization. In this type of strategy, the company improves and modifies the products they offer in the market while taking into account the changing needs of consumers. Linear strategy is associated with three significant factors:
- Strategy planning
- Strategy formulation
- Strategy implementation
- Interpretive Strategy
It involves the formulation of strategies in regard to the latest interests and culture of the organization. In the interpretive strategy model, strategies are developed to help the stakeholders understand the environment and scenario the business is operating in.
- Adaptive Strategy
This model involves the alignment of the available resources and the capabilities of the firm with the opportunities and threats. It refers to the continuous assessment and evaluation of internal and external factors an organization faces.
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Types of strategies development according to Mintzberg
Henry Mintzberg was a renowned author and academic expert. He successfully ventured into the field of strategies and did an outstanding analysis. Mintzberg classified strategies development into five types. Our online MBA tutors have expounded them below:
- Strategy as a plan
This is a concept where a course of action is developed to accomplish the predetermined objectives set by the organization.
- Strategy as a situation
This type of planning and strategy is formulated based on the external factors of the organization.
- Strategy as a pattern
This type of strategy is not preplanned. It is developed based on past experiences. It is also known as an emergent strategy.
- Strategy as a trick
This is a strategy that is meant to help the company beat its competitors.
- Strategy as a perspective
The ideological perspective and theories of the organization guide the formulation of this type of strategy.
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Strategic Planning: The Overview
Strategic planning involves several processes undertaken by the top management of an organization to come up with a proper strategy. The process requires a strategy plan definition, directing policies and programs, making decisions, and allocating resources to execute the predetermined strategy.
Strategic planning is broad. It encompasses the entire process of developing and putting a strategy into action. The significant steps involved in strategic planning are:
- Conducting strategic thinking to formulate an actual plan
- Analyzing the business environment of the enterprise and potential competitor within the market
- Setting guiding principles to help attain the organization’s objectives
- Initiating the implementation process
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Strategic Planning tools
A myriad of tools are used in strategic planning. Our strategic assignment experts say that these tools are essential in helping an organization achieve its desired objectives. The most popular strategic planning tools include:
- SWOT Analysis
This analysis focusses on the strengths, weaknesses, opportunities, and threats of the organization.
- PESTEL Analysis
Analysis of environmental factors that have a substantial impact on the performance of the business. These factors are political, economic, social, technological, environmental, and legal.
- Porter’s five forces model
This analytical model majors on five significant factors which are; the bargaining power of customers, threat posed by new companies making entry into the market, bargain power of suppliers, the threat of substitute products, the type of competition in the target market.
- Planning scenario
This process involves planning to determine the prospects of the business.
- Matrix of growth share
This is an analytical tool used to determine whether the business is productive and can grow. The growth matrix is essential because it helps the management get rid of non-profitable lines of business.
Why MBA students find it hard to write their strategy assignments
Professors usually allot assignments for students to evaluate their knowledge and writing skills. The only way to prove that you understood what was taught in class is to submit a well-researched and well-written paper. Unfortunately, students pursuing management still find it extremely difficult to prepare quality solutions for all their strategy assignments successfully. At Eduassignmenthelper.com, we are here to make sure that the following challenges are history in your academic life:
- Complex concepts in strategy assignments
There are a plethora of theories and assumptions that form the building blocks of this subject. Most of these topics are difficult to understand. If you do not understand the multi-dimensional characteristics of strategy or the high-level planning process, you are likely to face hurdles with your assignments. However, we have assembled an adept and dedicated team of highly-qualified MBA experts to assist you with your homework. They can help you understand the applications of situational strategies according to the changes in industries. Get in touch with us and get to submit excellent write-ups that can impress any professor.
- Multiple tasks
MBA students usually have a lot to do during their academic careers. Sometimes, they have to write numerous assignments, get a part-time job, and also create time for their hobbies. Since most students are not good time managers, they struggle to accomplish all these tasks without any compromise. At Edu Assignment Helper, we have hired experts to help you meet your stringent assignment deadlines and secure decent grades.
- Lack of resources
Strategy assignments require textbooks, journals, and other research materials. If you do not have these resources at your disposal, you will either submit content that lacks sufficient information or one with the wrong solutions. You do not have to lose crucial marks by submitting a poor quality paper. Get our strategy assignment help and receive an extensively researched and authentic writing.
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