Question

In: Operations Management

the importance of Strategic Management for a successful business expansion based on an actual business that...

the importance of Strategic Management for a successful business expansion based on an actual business that has gone from brick-and-mortar only, to offer its products and/or services in an online environment and/or in an international environment

Solutions

Expert Solution

A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.

The importance of strategic management for successful business expansion would be explained below by taking an example of Coca-Cola Inc. who went from brick-and-mortar only to the international environment.

1. Competitive advantages: Strategic management has helped the company to get a competitive advantage over other rivals by formulating the strategies that are unique and provide better services and products from its rival companies. It helps to gain knowledge regarding the potential competitors and existing competitors at the time of expansion internationally.

2. Environmental studying: Properly assessing strategic management helped the company to know everything about the environment of any international market, telling them about their strength and weaknesses as compared to other rivals, their chances of survival and success, and an opportunity that is prevailing in the environment that they can exploit.

3. Future planning: Good strategic management has helped the company to established successfully their long term goal and conduct future planning for the organization for the international markets in a manner that would be beneficial for the company in terms of customer satisfaction, profit levels as well as completing their competitors.

4. Better performance: Strategic management has helped the company to perform better in international markets. The company successfully evaluated the needs and wants of customers of the new international markets with the help of strategic management and evaluated the tastes and preferences of the customers regarding their product, and added or reduced the flavors of their drinks according to that.


Related Solutions

• You have to write a strategic proposal on the importance of Strategic Management for a...
• You have to write a strategic proposal on the importance of Strategic Management for a successful business expansion based on an actual business that has gone from brick-and-mortar only, to offer its products and/or services in an online environment and/or in an international environment. • You are free to choose the company you want to. • The strategy document must have two parts: o Audit:Analyzethebusinessofyourchoice,itspastandpresent,andhowisitcurrentlyperforming. o Proposal:ProposeyourownStrategyforthebusiness,bearinginmindthatyou’relookingforinternationalexpansionwiththeaidofdigitalmeans. • You may serve from the different authors, models and theories reviewed...
. Ownership and management objectives in the process of strategic management - What is the importance...
. Ownership and management objectives in the process of strategic management - What is the importance of ownership objectives and what is their position in management of a business? - Specify managerial objectives and the role of managerial objectives in strategic management. - What is the difference between ownership, management and corporate strategy?
Discuss the importance of strategic management with adding your opinion?
Discuss the importance of strategic management with adding your opinion?
Explain why Human Resource Management is of strategic importance to modern firms.
Explain why Human Resource Management is of strategic importance to modern firms.
Write about the importance of top management support for successful IT projects in 300 – 350...
Write about the importance of top management support for successful IT projects in 300 – 350 words. If you support your discussion with the articles from the Internet, then you MUST provide the references. The last paragraph should include your opinion on this topic.
Write about the importance of top management support for successful IT projects in 300 – 350...
Write about the importance of top management support for successful IT projects in 300 – 350 words. If you support your discussion with the articles from the Internet, then you MUST provide the references. The last paragraph should include your opinion on this topic.
1.) What is the importance of risk management to the business enterprise?
Introduction to Business Law:1.) What is the importance of risk management to the business enterprise?2.) How does insurance aid the enterprise in managing risks?3.) Describe the value of having a will or a trust.
Explain the importance of Credit Collection Management to a business entity
Explain the importance of Credit Collection Management to a business entity
Write a brief management consulting analysis describing your recommendations for the successful future strategic direction of...
Write a brief management consulting analysis describing your recommendations for the successful future strategic direction of Doordash.
Wahda had made a successful IPO. The entrepreneurs are now thinking about expansion of their business....
Wahda had made a successful IPO. The entrepreneurs are now thinking about expansion of their business. Guide them by explaining in your own words various growth strategies
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT