Objective: Examine strategic management best practices of successful, dynamic organizations.
Strategic management is crucial to building a successful business. It involves developing a game plan to guide a company as it strives to accomplish its mission, goals, and objectives, and to keep it on its desired course. Think of the companies that have been most successful in our time Google, Apple, Nike. All managed to create a competitive edge by revolutionizing their industries. In this essay, you will evaluate the importance of strategic management by examining successful companies and practicing the tools and techniques of the strategic management process. This essay project should expand your in-depth studies on best practices impact change in organizations and their industries.
The essay for this lesson is required to be a minimum of 750 words that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (https://owl.english.purdue.edu/owl/). A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list.
Perform the following steps:
Step 1: Explain competitive advantage and how this impacts small businesses and their marketing position.
Step 2: Describe the characteristics of a unique competitive advantage position.
Step 3: In what ways can entrepreneurs address the challenges of setting their companies apart from larger ones?
Write your essay to address all the questions above.
Use these writing guidelines:
Include a cover page and references in addition to your required word count.
Use correct APA format.
Use size 12 pt. Times New Roman type.
Use section headings to organize. (optional)
Include in-text citations.
Use correct spelling, grammar, sentence structure, and verb tense
Nine Steps to Effective Strategic Planning from Melcrums Practitioner Guide to Strategic Planning for Internal Communication (2012). Learn the importance of strategic best practices and nine steps in the strategic planning process (pp. 48-50).
The Secrets to Successful Strategy Execution from Neilson, G., Martin, K, and Powers, E. (2008) Harvard Business Review, 86(6), pp.60-70