Strategic management assignment Essay Example | Topics and Well Written Essays - 1250 words

Strategic management assignment - Essay Example Now-a-days the organizations are bringing rapid, volatile and discontinuous changes. It makes strategic management more multifaceted and challenging. There are two principal drivers that influence the nature of competitors’ background. These will help the organizations to adopt and maintain that change. Technology and global economy are two important drivers of businesses. Therefore, substantial changes in these drivers can affect the strategic management process of an organization. Several models can help the CEOs to respond to the discontinuous changes. The combination of those two change approaches is suitable for the transformation of the organizations. This approach is considered as holistic approach. This holistic approach will help to produce effective flexibility to the businesses to counter the uncertain situations. It is necessary to have a strategic change plan that can be learned in order to relieve the fear of this change among the employees. Critical learning is indispensable. It will help to create a knowledge based work environment of understanding the critical problems. Moreover, transfer of knowledge will help to enhance the decision making ability in a situation of sudden change. Rapid, Volatile and Discontinuous Change Rapid and volatile organizational change is an intentional and structured approach that helps to transit the employees, groups and organizations from a current position to a significant future position. On the other hand, discontinuous change can be defined as sudden, unintentional and non-incremental change that threatens the power structure and existing traditional authority (Hubbard, 2004). The organizations implement rapid and volatile changing process to improve the internal structure of an organization. This process helps the management of the organization to capitalize on the potential opportunities and to meet with the changing customer demand rapidly by effective redesigning of product and services (Foster & Br owne, 1996). On the other hand, the objective of the discontinuous change process is to identify and rectify the current organizational problems. The organizations implement this change to establish new strategies to improve the organizational performance. Leading organizations around the globe are trying to capitalize on the potential opportunities by implementing these changes. Moreover, continuous changes in the organization required for any changes in external environmental factors help the organization to maintain a healthy work environment and achieve competence in the industry. It is important for the information managers to review the environmental factors and identify the current trends. This strategic audit planning will help the organizations to understand the external and internal information services (Sutton, 1999). PEST analysis is a common tool that helps the organization to assess the external factors, such as political, social, technological and economical changes. Another important common strategic audit tool is SWOT analysis. It helps the organization to assess the internal factors. This SWOT analysis considers internal strengths, weaknesses and external opportunities and threats. Following is the strategic management model that used to assess the role, impact and implication of rapid, volatile and discontinuous organizational change. An important principle of strategic managem