Strategic management paper free essay sample

In the student syllabus the week one assignment asks students to describe the primary components of a strategic management process along with indicating why a strategic management process is necessary in a company. Students must also choose a company in which they find interesting to relate to the company’s strategic process. Description of Primary Components The four basic elements of strategic management consist of environmental scanning, strategy formulation, strategy implementation, and evaluation, and control. According to Wheelen, and Hunger, (2010, p. 16), â€Å"environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. † The easiest way to conduct environmental scanning is through SWOT analysis. Wheelen, and Hunger (2010, p. 17), state â€Å"strategy formulation is the development of long-range plans for the effective management of environmental opportunities and threats, in light of corporate strengths and weaknesses. However, with this a company will define their mission statement, their achievable objectives, develop strategies, and set their policy guidelines. We will write a custom essay sample on Strategic management paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page According to (Wheelen, Hunger, 2010, p. 21), â€Å"strategy implementation is a process by which strategies and policies are put into action through the development of programs, budgets, and procedures. Lower or middle class management are the employees who complete the implementation process. This is also known to many managers as operational planning. According to evaluation and control is a process in which corporate activities and performance results are monitored so that the actual performance can be compared with desired performance. † However, managers use this information to solve problems or make important decisions. â€Å"The company’s past strategy to diversify its product offerings into â€Å"storage, printers, and televisions, had not worked as planned† (Hunger Wheelen, 2010, p.23). Furthermore, when Dell uses evaluation and control, they are refocusing their companies’ efforts to show a long-term success. By renewing their strategic process, â€Å"Dell is now focusing on expanding its market share in China through the use of research and retail centers in the country† (2010, p. 1). In conclusion, the strategic management process allows companies to see what areas they are successful in and which areas they need to improve. Strategic Management Paper free essay sample Brief Description of the Company Pepsi-Cola Products Philippines Inc. is a company Mission Statement Analysis Mission: â€Å"We [Pepsi-Cola Products Philippines Inc. ] will continue to market a portfolio of international and home-grown branded quality products at prices that provide good value to our consumers in key Food Beverage categories. We are committed to expand the business and provide healthy financial returns to our shareholders, opportunities for growth and enrichment to our employees, business partners and the communities where we operate. † Analysis: Component Remark/Comment Customers Products/Services Markets Technology Concern for Survival, growth and profitability Philosophy Self-concept Concern for Public Image Concern for Employees PEST Analysis Political Economic Social Technological Industry Analysis: EFE Matrix Competitive Profile Matrix (CPM) Summary of Financial Ratio 0. Liquidity Ratio a. current b. quick 1. Leverage Ratio a. debt to total assets b. debt to equity c. long term debt to equity d. times-interest-earned 2. Activity Ratio a. inventory turnover b. We will write a custom essay sample on Strategic Management Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page fixed assets turnover c. total assets turnover d. account receivable turnover e. average collection period 3. Profitability a. gross profit margin b. operating profit margin c. net profit margin d. return on total assets (ROA) e. return on stockholder equity (ROE) 4. Brief Assessment/Description of the Total Financial Condition of the Company SWOT Analysis Strengths Worldwide brand recognition Huge distribution network Strong market position Strong brand name/brand folio Strong growth capacity Weaknesses Cannot outdo Coca-Cola because of its stronger market positioning Cannot be differentiated from other products because the cola for instance, tastes the same with their other competitors Coca-Cola products are preferred over Pepsi-Cola mainly because competitor has established a stronger brand than Pepsi-Cola products. Opportunities Threats Internal Factor Analysis (IFE) TOWS Analysis External Opportunities (O) External Threats (T) Internal Strengths (S) SO (Maxi-Maxi Strategy) ST (Maxi-Mini Strategy) Internal Weakness (W) WO (Mini-Maxi Strategy) WT (Mini-Mini Strategy) Space Matrix Balanced Scorecard Strategy Map McKinsey 7S Analysis Porter 5 Forces Analysis