FINANCIAL ANALYST

MARKETING AND STRATEGIC RESOURCE MANAGEMENT

Marketing and Strategic Resource Management

CONTENTS

S. No. Description Page No

1. Strategic Management 3
   1. Scope of Strategic Management 3
      1. Domestic Business 3
      2. International Business 6
      3. Global Business 7
   2. Globalisation of Business 7

1.3 Influence of International Business Environment 8

1.3.1 Direct Influence 8

1. 1. Wider Influence 9
2. Techniques for Analysing Business Environment 10

2.1 Overview of Business Environment 10

2.1.1 Internal and External Environment 10

2.1.2 Competitive Environment 11

2.2 Composition of External Environment 11

2.2.1 Economic Environment 12

2.2.2 Socio-Cultural Environment 12

2.2.3 Political and Legal Environment 13

2.2.4 Technological Environment 13

2.3 Micro and Macro Environmental Factors 13

2.4 International Business Environment 15

2.5 Techniques for Environmental Analysis 16

2.5.1 Competitors’ Analysis 16

2.5.2 Customers’ Analysis 16

2.5.3 Porter’s “Five Forces Method” for Competitive Analysis 17

2.5.4 Environment Audit (PESTLE) 17

2.5.5 Porter’s Diamond – The Competitiveness of Nations 18

2.6 Business Strategies for Managing the Environment 18

1. Strategic Management

Strategic Management is the process and organizational arrangements which allow a council to plan for success over the long-term. By their nature, strategic plans tend to be complex in nature, ie multi-perspective, multi-service and multi-interest. They may require decisions to be made in the face of uncertainty or ambiguity and will certainly involve change. Business planning – the processes which allow a council’s strategic vision, objectives and priorities to be translated into operational action plans. A corporate business plan will identify what needs to happen in all service areas to achieve success, what resources will be required for delivery, the outputs and outcomes that are anticipated and any other contributory factors (eg actions by partner organizations, risks, resource assumptions etc). Underpinning this, most council will usually have individual service plans for each defined area of council business which provide greater detail and specify a range of performance targets for those delivering services or improvements.

1.1 The Scope of Strategic Management

• Management process – Management process as relate to how strategies are created and changed.
• Management decisions. The decisions must relate clearly to a solution of perceived problems (how to avoid a threat; how to capitalize on an opportunity).
• Time scales. The strategic time horizon is long. However, it for company in real trouble can be very short.
• Structure of the organization. An organization is managed by people within a structure. The decisions which result from the way that managers work together within the structure can result in strategic change.
• Activities of the organization. This is a potentially limitless area of study and we normally shall centre upon all activities which affect the organization.

1.1.2 The Nature and Value of Strategic Management All organizations engage in the strategic management process either formally or informally. Strategic management is equally applicable to public, private, not-for-profit, and religious organizations. An attempt is made in this thesis to show the applicability of strategic management to all types of organizations, but the emphasis is on private-enterprise organizations.

Organizations usually employ one of the three general decision-making processes….

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