Strategic Management of DL Limited Assignment Example | Topics and Well Written Essays - 4000 words

Strategic Management of DL Limited - Assignment Example The researcher states that the term ‘strategy’ is defined as the plan or the action of the organisations designed to achieve the vission of an organisation. It is performed with the help of all available organisational resources at efficient and effective manner so as to attain the objectives of the organisation. Strategies are developed or planned in order to enhance the strength of an organisation thereby reducing the potencies of the competiting firms. Thus, strategies might be of varied types such as corporate, businessunit and operational approaches among others. Strategy facilitates in augmentation of the sustianability and corporate image of an organisation in the long run among other competitors. Therefore, proper examination, selection and execution of a strategy are basic constitents of strategic management. Strategic management is odten referred as a term that deals with projected and evolving initiatives taken to augment the performance of ï ¬ rms in the ma rkets. It involves identification of the organisation's mission, vision and goals, policies and plans, intended to accomplish the future objectives thereby utilising the avalilable resources in an efficient manner. Strategic management is a continuous procedure of developement of strategies and policies that facilitates to compete with the existing rivals in the market thereby ensuring the market share and the brand distinctiveness among others in the market. ... This is a report highlighting the preparation of a strategic plan for ‘DL Limited’, thereby utilising varied ideas and knoweledges of strategic management so as to make the plan more proficient and effective. Discussion Strategic management refers a collection of decisions and operations which is accepted so as to improve the performance of an organisation.. The strategies are formulated after taking a descriptive knowledge and understanding about the environmental conditions of the market. This can be attained after conducting a SWOT analysis so as to acquire a detailed idea about the strengths and weaknesses thereby maximising the opportunities and minimising the threaths. Thus, strategic management includes planning for both present and future prospects of an organisation. Strategic management includes strategic analysis, planning and implementation so as to enhance the profitability and the marketshare among others. This can be possible only through proper decision m aking process and proper analysis of the market along with the rival competitors’ approaches and product lines so as to ensure positive future prospects for the organisation (Wells, n.d.). In this era of globalisation and industrialisation, it is essential to implement strategic planning process in order to enhance the business and its market identity among other competiting brands. Strategic planning is referred to as an organisation's procedure of defining its policies, or trends necessary for decision making so as to utilise its resources to attain the future strategies. In order to determine the future courses of an organisation, it is essential to realise the existing position and financial condition which would facilitate the