Strategic Management Coursework Example | Topics and Well Written Essays - 3000 words

Strategic Management - Coursework Example The rising consumer needs in the developing as well as the developed markets is generating a uniform business opportunity. Companies of local as well as international origin are actively focusing on entering newer markets as well as expanding their presence in existing markets so as to capitalize the newly emerging business opportunities. The business firms of the 21st century are actively focusing on radical as well as disruptive innovation so as to effectively fulfill the needs of the masses. It is important to highlight that the because of the presence of multiple firms offering homogenous products and services, the competition in the market is extremely high. The availability of similar kinds of product and service offerings are resulting in the increase in power for the buyers. It has to be said that to deal with the intense market competition as well as to retain their competitive edge, the organizations needs to design as well as execute successful strategies. This particular assignment focuses on the aspects of strategy development, cutting edge technology as well as the sustainable competitive advantage which are necessary for present day organizations. Traditionally, organizations around the world follow a well designed hierarchy, the top of which is often tasked with the responsibility of strategy planning as well as implementation. For the implementation as well as execution of strategies, companies in various corners of the world often follow the usual one way top down implementation approach. Over the course of execution of business, there have often been doubts about whether it is possible to design effective strategies without following the traditional top down route. In order to find a satisfying answer to this particular focus, it is important to highlight that there is a high level of persistence that is associated with the hierarchical concept of an organization. Organizations which