Strategic Management

Paper Summary:

This research paper is divided into two parts. The first part outlines the major lessons learned from a graduate strategic management course. This includes the entire strategic planning process involving the hierarchical levels of strategy PEST analysis, strategic development and implementation, organizational structure, and leadership. The remaining part of the paper discusses advantages and disadvantages of strategic partnerships, ethical considerations in implementing strategy, and the contribution of SWOT analysis in strategic planning and other issues.

From the Paper:

"Thus from the discussion above, it is evident that it is not sufficient for the companies to survive the tough competition by identifying and reviewing their internal issues including strengths as well as weaknesses and their external issues including opportunities and threats (Ferrell et al., Marketing Strategy, 1998). For the adequate, fruitful and productive application of the SWOT analysis in the strategic planning process, it is highly significant for the companies to realize the need to diminish weaknesses as well as the possible threats that include expected and the unexpected hazards (Ferrell et al., Marketing Strategy, 1998). In addition to the above, weaknesses must be considered as possible converters for strengths."

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