This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
Firms or companies today face a broad array of risks and challenges in there day to day activities or running's of the company be they Strategic, Operational, Financial, Competitor Vendor, Customer just to name a few. Globalization has brought to the fore front major competition with the various continents of the world due to increased economic integration in the world at large. Experts in the field of management to be precise have advised or argued time and again that firms or companies should respond to environmental changes in the modern business environment, such as increased competition, by engaging in systematics or strategic management planning to anticipate and respond to changes in the modern business environment using information as a basic tool to changes and unforeseen events or circumstances. The reason behind this is because formal strategic planning have been proven to enhance a firm or companies performance (multidepartment stores spar).Thompson et al (2006) explain that a firm or companies strategy is its management game plan for growing the business, staking out a market position, attracting and pleasing customers, competing successfully in a modern business environment, conducting operations, and achieving targeted objectives or goals lead down by the strategic manager.(Thompson et al,2006)
TABLE OF CONTENT
Critical Analysis of the major initiatives of a strategic manager information and technology driven in multidepartment stores in a competitive business environment……………………………i
The core issues and challenges faced by a strategic manager in modern business environment and solutions to these problems or initiatives taken to improve output? ………………………………ii
Analysis of the major initiatives of the strategic management of spar multidepartment store information and technology driven in a competitive business environment
These are two of the major initiatives taken by the strategic manager of Spar departmental store information and technology driven in a business environment listed below it also includes subs for each of the major initiative given.
1, Strategic evaluation and choice
Mission and scope - These are the major initiatives taken by a strategic manager in a business environment The strategic management analyzes the major initiatives taken by the companies top management on behalf of owners ,involving resource's and performance in external environment . This has to do with the stake holders specifying the company's mission, vision and objectives with this information the strategic manager knows what exactly the company is aimed at achieving in spar departmental stores they have two major initiatives their aim is first and foremost food for freshness what this simply means is to make sure that the store is able to provide fresh produce to its customers products like vegetables, frozen food like chicken, fish, beef, generally food stuff etc. The second major initiative is customer care this initiative is very important to spar departmental store because without the customer there would be no existences of the store there must be customers to patronize them before their dreams become reality that's why the managers made sure that there is a very effective communication channel between the organization and its customers to ensure customer satisfaction the major communication tools put in place by the management team is a very simple but effective way to pass information or communicate which are (catalogue, radio, mail, telephone).After understanding the mission and vision of spar departmental stores The strategic managers now come up with development polices and plans to suite this initiative of the company in a technology driven environment.( Nag, R.; Hambrick, D. C.; Chen, M.-J 2007)
Suitability - this is another initiative that must be taken by the strategic managers to ensure that the overall rational of the strategy is suitable for the company or firm (spar departmental stores) this simply implies that whatever that is decided must be in favor of the firm to meet its target and mode of operation.
The initiatives or strategic plan has to address the mission or requirements of the company given by the stakeholders to meet expectation of its customers that is given out quality product, service, or results to its customers in the case of spar food for freshness and quality customer service.
It also has to reflect the organization's capabilities in its service delivery to its customers that's why spar has made sure that its number two mission is customer care and they made sure that they put in place facilities with information technology to enhance its product delivery to the consumers.
Recently a modern centralized camera was put in place to cub shrinkage in the company .shrinkage simply means loses that can be coursed by different factors for example theft, miscalculation etc.in this case the managers have to put something in place to cub or reduce this problem faced by spar the measure they took is i.t related setting up a centralized camera to monitor the whole branches here in Mauritius of course this cost a lot of money to put in place but first the manager has to strategize and plan to see if it makes economic sense by using information technology in a business environment will this be too expensive for the company to maintain or would this bring about a major boost in the company's revenue. In the case of spar departmental store it was a welcome development because after installing the facility the next week two people where cut in the act of shop lifting since then there has been an increase in sells and decrease in loses.
Evaluation tools: The strategic manager must use these evaluation tools to ensure the company's progress or success the major focus would be on the (swot analysis).
Strength, weakness, opportunity ,threat(SWOT)analysis
Balanced scorecard tools
Supply chain analysis
Data quality management etc.
The swot analysis of spar multidepartment store will be broken down further below for more insight into the company's progress and short coming for better understanding before we go further into more details on the strategic managers' role in modern business environment information driven.
Strengths of spar departmental stores: first and foremost on the list are strong management, spar departmental stores has a very strong and effective management team which propels the organization to reach its potential by utilizing this strength and eliminating its weakness.
Weakness: one of the major weaknesses is work inefficiencies on the part of the cashier in the aspect of what they sweet hearting this simply means the cashier not take record of the goods bought by the customer due to the fact that the cashier knows him or her (customer)
Opportunities: spar stores are found all over the world spar is an international brand there by creating new opportunities to expand the business and increasing sells and also diversify their customer base.
Threats: there are other departmental stores this serves as a major threat to spar because they can entice customers away with their superior products and also international competitors are difficult to combat because they have competitive advantage and also they are numerous.
Feasibility - feasibility is concerned with whether the company has the resources required to implement the strategy .Resource include human, time, market, expertise, capital
Evaluation tools include:
Cash flow analysis and forecasting
Resource development analysis
2, STRATEGIC IMPLIMENTATION AND CONTROL
The second initiative been taken by spar departmental store is as mentioned above strategic implementation and control the management team has to strategies effectively to meet up with the developing trends in the sense of meeting up to global demand to enable this and make it very effective information technology is one of the tools we use in effecting our implementation e.g. online news, online radio broadcasting, online magazines, etc. while in the case of control the resources brought in by our journalist, or any material we import is effectively checked by our editors. They go through the materials to be published in our media organization scrutinize it properly to make sure it meets up with the standard expected of us and also if its meet the regulation standards put in place by the Government.
These are some of the measures we put in place in spar multidepartment store to effect implementation and control
Our strategic management team in spar department store have been able to meet the expected goals ensuring that the company is information and technologically driven in this modern world of ours with the initiative mentioned above. (Nag, R.; Hambrick, D. C.; Chen, M.-J 2007)