MGT657 Strategic Management Assignment Answer Malaysia

MGT657 Strategic Management is a course that examines the process of making and implementing informed decisions about an organization’s strategic direction. The course topics covered include environmental scanning, strategy formulation, implementation, and evaluation. Students will learn how to analyze an organization’s strengths and weaknesses, understand its competitive position and develop strategies for long-term success.

This course is designed for students who want to learn how to think strategically about organizations. It will be of particular interest to those who want to pursue careers in management or consultancies.

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My Assignment Help professionals have solved many assignments on strategic management for the students of this university and know what is expected in such papers. The experts have designed this MGT657 Strategic Management Assignment Sample UiTM keeping all the requirements of students in mind. Take a look at it to know what all sections you need to include in your paper.

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We’ll go through the tasks in this section. The following are present here:

Assignment Task 1: Explain Theories Of Strategic Management.

Strategic management is the process of developing and implementing plans to achieve an organization’s objectives. It involves making decisions about what goals to pursue, how best to achieve them, and allocating resources accordingly. 

There are a variety of different theories of strategic management, each with its own insights and perspectives. Here are some of the most important ones: 

1. The Resource-Based View (RBV) holds that organizations can create a competitive advantage by leveraging their unique resources and capabilities. This theory focuses on identifying and exploiting organizational strengths, rather than trying to fix weaknesses. 
2. Michael Porter’s Five Forces framework is a tool for analyzing an industry’s competitiveness and attractiveness. It takes into account the five main forces that shape competition: buyer power, supplier power, competitive rivalry, the threat of new entrants, and the threat of substitute products. 
3. The Value Chain is a framework developed by Michael Porter for understanding the sources of an organization’s competitive advantage. It consists of a series of activities that add value to a product or service at each stage of the production process. 
4. Ansoff’s Matrix is a tool for businesses to identify growth opportunities. It does this by considering the product/market matrix, which maps out the four possible combinations of existing and new products in existing and new markets. 
5. The Balanced Scorecard is a performance management system that helps organizations track and improve their progress towards strategic objectives. It does this by measuring progress in four key areas: financial performance, customer satisfaction, operational efficiency, and employee engagement.

There are many other theories of strategic management, but these are some of the most important ones. As you can see, each theory offers a different perspective on how organizations can create a competitive advantage.

Assignment Task 2: Determine Relevant Strategic Decision Making.

Strategic decision-making is the process of identifying and choosing among alternatives in order to achieve desired outcomes. In order to make the most effective decisions, it is important to understand the environment in which the decision will be made, as well as the organization’s strengths and weaknesses. Additionally, it is important to have accurate data upon which to base decisions.

Once all of this information is gathered, potential solutions can be evaluated and a course of action can be chosen. Close communication among team members is essential for successful strategic decision-making, as is a willingness to change course when new information arises.

Assignment Task 3: Demonstrate Managerial Skills Related To Strategic Management.

Managerial skills related to strategic management typically involve setting long-term goals for the organization, creating a vision for the future, and developing a plan to achieve those goals.

Effective strategic managers are able to look at the big picture and see how all the pieces fit together. They understand that changes in one area of the business can impact other areas, and they’re able to make adjustments as needed. They’re also able to think ahead and plan for potential problems or opportunities.

In order to achieve their goals, strategic managers must be effective leaders and motivators. They need to get their team on board with the vision and motivate them to work towards achieving it. And they need to be able to adapt as conditions change and make decisions that will keep the organization moving forward.

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