Strategic management practise Assignment Example | Topics and Well Written Essays - 5000 words

Strategic management practise - Assignment Example Examination of data and appropriate literature has uncovered that Sony maintains the most significant strategic issues associated with ineffective marketing strategies, a culture of power distance that forbids teamwork and collaboration, and poor positioning in its markets among competition. It is recommended that Sony work toward making a more decentralised and collaborative organisational culture, cease its process of quality and innovation positioning as part of brand management and marketing, and enact a performance management ideology that includes the 360 degree feedback mechanism as well as strategic and tactical dashboard to improve control and metrics production to guarantee more return on investment for the recommended changes. This should position Sony more competently among very diverse competitors worldwide. Strategy is the process of determining the long-run aspirations and goals of a business and deciding on the specific action plans and resource allocations required to achieve determined objectives (Nag, Hambrick and Chen 2007). Strategy is inclusive of management activities whereby direction for the firm is established, guidance provided to subordinate support staff members, and where the structure of the organisation is established. Strategic management is the development and implementation of objectives issued by a firm’s management team in order to position a business in a desirable future state. Businesses consist of many inter-dependent divisions that assist a firm in achieving its strategic goals, the firm’s value chain, which consist of marketing, production, human resources, customer service systems, technologies and other operational business components (Maritz and Salaran 2010). Strategic management is the process of aligning these divisions in the most effective and productive methodology so that the business can achieve its mission and guide the organisation toward its long-term goals. Through the proper