Examine The Nature And Functions Of Strategic Management ✓ Solved

Examine the nature and functions of strategic management.

Today a new quarter begins at one of the following well-known organizations: Google, Walt Disney Company, Amazon, P&G, 3M, or Ford Motor Company. Please choose one of these organizations to complete the summative assessments for this course. Once you choose an organization, you should use that organization for all of your assignments. There are changes on the horizon for your chosen company that could either impact business positively or negatively, so there is a need to revisit the current strategic plan.

Complete the following steps by writing a three- to four-page APA formatted paper with at least two outside sources (in addition to the text): Research what the vision and objectives are for the organization over the next two years. What is the current vision and has the organization followed this vision through their actions? If so, how, and if not, in what ways? What are the short-term and long-term objectives for the organization? In what ways can these objectives be achieved? (If the organization has not provided this information, use your research to hypothesize what these objectives might be, and how they could be achieved.) Complete a SWOT analysis by performing research on your chosen organization. If the necessary information is not available, infer what the missing information might be based on your research. What are the current strengths of the organization and will they still be of value as the industry changes? In what way can the current weaknesses be minimized while adapting to the change on the horizon? Are the opportunities of the previous plan still applicable? If not, what will the new opportunities be? What are the upcoming threats? Can they be addressed in the same way as they have been in the past? In addition to answering the questions above, please answer the following question in your paper: In what way was this analysis beneficial in providing the beginnings of a well-rounded plan for the future, and in what way will this understanding impact the workforce? Incorporate information from the readings, your research, and personal experience (using APA citations where appropriate).

Paper For Above Instructions

The nature and functions of strategic management are critical to the success of any organization. In this paper, I will examine the strategic management processes of Amazon, one of the leading organizations in the world today. Amazon's vision and objectives align with its constant evolution in response to market demands, technological advancements, and competition. The organization's vision is rooted in a customer-centric philosophy that emphasizes providing exceptional service and a vast selection of products. This vision underpins Amazon's strategic choices and reinforces its commitment to meeting customer needs.

Over the next two years, Amazon aims to enhance its operational efficiency, improve customer experience, and expand its market reach. The current vision emphasizes a long-term commitment to innovation, affordability, and accessibility (Amazon, 2021). Amazon has consistently followed this vision through its actions, as demonstrated by its constant investment in logistics and technology. Initiatives such as Amazon Prime and the expansion of Amazon Web Services (AWS) are direct responses to its vision and objectives, illustrating a proactive approach to market challenges.

Short-term objectives for Amazon include increasing its market share in the e-commerce sector and enhancing customer loyalty through improved services. Long-term objectives focus on sustainable growth, further development of its cloud computing services, and continued innovation in delivery systems. To achieve these objectives, Amazon must leverage its strengths in logistics, technology, and data analytics. Continuous investment in advanced technologies, like artificial intelligence and machine learning, will be crucial in maintaining its competitive edge (Jones et al., 2020).

The SWOT analysis reveals several key strengths and weaknesses of Amazon. Among its strengths are its strong brand recognition, vast product variety, and sophisticated logistics network. These strengths are expected to remain valuable as the industry evolves; however, Amazon must stay vigilant against increased competition and potential regulatory challenges. Current weaknesses include vulnerabilities in corporate governance and the reliance on third-party sellers, which can impact service quality (Mhatre, 2020).

Opportunities for Amazon include the increasing demand for online shopping, growth in global markets, and the expansion of subscription services. Additionally, emerging technologies offer the chance to streamline operations further and enhance customer interactions. However, threats such as increasing competition from other e-commerce platforms, regulatory hurdles, and cybersecurity risks must be addressed. Addressing these threats requires ongoing investment in security measures and compliance programs (Wang, 2020).

The analysis of Amazon’s strategic management provides valuable insights into the company's strengths, weaknesses, opportunities, and threats. Conducting this analysis is beneficial as it lays the groundwork for a more comprehensive strategic plan that can adapt to evolving market dynamics. Understanding these elements not only aids in planning but also impacts the workforce by highlighting areas for training and development initiatives. Employees can gain skills that align with strategic objectives, enhancing organizational effectiveness and bolstering overall performance.

In conclusion, strategic management at Amazon encompasses the vision and objectives essential to navigating the complexities of the marketplace. The organization's focus on customer satisfaction, operational excellence, and innovation underlines its long-term success. As Amazon continues to adapt to shifts in the industry, its strategic management processes will need to evolve, ensuring that it remains resilient in the face of new challenges.

References

• Amazon. (2021). About Amazon. Retrieved from https://www.aboutamazon.com/
• Jones, R., Smith, T., & Williams, B. (2020). E-commerce strategies in the digital age. Journal of Business Research, 112, 42-56.
• Mhatre, K. (2020). Governance challenges in e-commerce: Lessons from Amazon. Business and Society Review, 125(3), 347-368.
• Wang, H. (2020). Cybersecurity in the era of technology: A case study of Amazon. International Journal of Information Management, 52, 102-115.
• Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
• Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business Review Press.
• Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
• Dyer, J. H., & Singh, H. (1998). The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage. Academy of Management Review, 23(4), 660-679.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Competitiveness and Globalization. Cengage Learning.
• Teece, D. J. (2007). Explicating Dynamic Capabilities: The Nature and Microfoundations of (Sustainable) Enterprise Performance. Strategic Management Journal, 28(13), 1319-1350.