Q1.Operational management involves decision-making that is responsible for the transformation of resources into an organisations goods and services. This occurs in many different areas of an organisations operational business environment. For any two (2) of the following areas, research the key issues of decision-making in each area. Then evaluate how the issues are likely to impact the strategic management practices of a global automotive organisation in its contemporary operating environment.i. Product/Service Design
ii. Quality Management
iii. Process & Capacity Design
iv. Location Strategy
v. Layout Design Strategy
Note: Please ensure that you refer to the Assessment Glossary (Page 3) with regards to the meaning of both research and evaluate. Also ensure that your answer demonstrates clear evidence of applying concepts/theories learned from a wide range of materials, such as relevant textbooks, academic journals or articles, media reports, annual reports, company’s website and/or reputable online sources.
(Approx. 450 Words)
Q2a.) Briefly critique the relevancy of Professor Michael Porter’s Competitive Five Forces model as an approach for strategic management practice in the contemporary business environment.
Q3.) Apply Professor Michael Porter’s Competitive Five Forces model to P&G Ltd, as an approach that they can use for strategic management practice in their contemporary operational environment.
(Approx. 225 Words,)
Q4) Briefly critique the relevancy of Professor Michael Porter’s Value Chain model as an approach for strategic management practice in the contemporary business environment.
Q5)Apply Professor Michael Porter’s Value Chain model to IKEA as an approach they can use for strategic management practice in their contemporary operational environment.
(Approx. 225 Words,)
Q6)There are different frameworks and methodologies for strategic management practice in organisations. Whilst there are no absolutes regarding the most appropriate one to adopt, most of them follow a similar pattern of four (4) set phases with similar common shared attributes global technology organisation
1) Analysis and Assessment: is where an understanding of the current internal organisational environmental and external environmental factors impacting an organisation are developed.
2) Strategy Formulation: is where a high level strategy is developed and where the organisational level strategic plan is documented.
3) Strategy Implementation: is where the high level strategic plan is translated into operational planning with actionable and measurable outcomes.
4) Strategy Evaluation: is where the ongoing iteration and evaluation of organisational performance against the implemented strategic plan occurs
(approx 225words each aspect as 225 Analysis and assessment225,Strategy Formulation225,Strategy Implementation225,Strategic Evaluation225)
Kindly use APA Format