Integrating strategy requires acknowledgement of environmental forces. Companies such as Netflix made several attempts to implement a strategy; consequently, an inadequate assessment of the environment did not prepare them for the loss of revenue as a result of negative consumer feedback. There are approximately five components of strategic management leaders should utilize prior to moving forward.© BrainMass Inc. brainmass.com October 25, 2018, 9:40 am ad1c9bdddf
Strategic management is a mechanism of a comprehensive assessment. Leaders are compelled to observe every possible disruptive subtraction of value significant or otherwise. Strategic management hinges on the brink of control and market classification. Leaders must determine a differentiated specialty before the implementation of a strategy. In most cases, leaders differentiate the organizations strengths and weaknesses and concentrate on further strengthening their strongest position. It is my belief that strategic management should focus on strengthening their weakest area to alleviate all forms of weaknesses to ensure the organization is a well-rounded organization of high quality standards, which creates an even stronger competitor than the competition.
Take Netflix, for example, in 2012, the company struggled to maintain relationships with companies such as Starz, Sony pictures, and a few other organizations responsible for contributing to Netflix's movie library. As a result, movies were automatically removed from the streaming library. In a conversation with an anonymous Netflix representative who states, "Netflix's license and contract issues with former production companies will in no way interfere with the companies quality of service." After a year or so later, the company decided to initiate their own entertainment ventures by producing original series such as; House of Cards, Orange is the New Black, to name a few, to contribute to their library in addition to current movie and television titles.
Strategic management is the tool that causes organizations to compensate for whatever is lacking in the current business model. Netflix is a prime example of strategic management. Another example is Netflix's price increasing approach. The company stated in a ...
To effectively integrate a strategy, leaders must take inventory of competitive business practices to identify the most effective processes in which consumers are receptive. Some organizations neglect to evaluate the market because leaders automatically assume they know what's best for consumers. Blatant disregard of consumer needs is a mistake of most organizations.
Change Analysis in an Organisation
Find a change situation within your own organization (where you work now or where you worked in the past) to analyze.
The following format should be used:
a. Briefly explain the strategic change initiative
b. Briefly explain the importance of the Images or Vision concepts and its application to a strategic change initiative
2. Application Analysis
a. Gather information within your organization that supports the strategic change initiative.
b. Address each concept and apply it to the strategic change initiative based on the information you gathered or found in the case.
3. Lessons Learned
a. Briefly explain what you have learned by applying the concept to the strategic change initiative.
b. Based on what you learned, explain in some detail how a practicing manager could use this knowledge to better manage change.
c. Identify any mistakes that were made in using the change concept and how you would fix the situation.