Strategic management Essay Example | Topics and Well Written Essays - 2500 words - 10

Strategic management - Essay ExampleThese triplet important statements serve as a track or guideline and assist each and either individual to work in a way that not only conforms to what organization is intended to do and has stated, but also leads toward successful completion of tasks in a distinctive way.Before getting into the discourse of strategic development it is important to understand the meaning of strategy. According to Dobson et al (2004), it is about achieving matched advantage through distinctiveness- delivering a unique value addition to the customers, and having a clear view of how to sit yourself uniquely in your industry.In order to make the concept clear I will cat light on passing Bull a famous energy drink on which a lot of work was done in order to tactically develop proper and advantageous securities industry strategies. To tailor this product according to the diverse need of individuals, they positioned the drink as an energy drink linked with advent urous advertisements and sponsorship of famous sports known as formula 1 (F1). Whenever an organization plans to make any strategy, it needs to carry out an analysis in a way that not only takes into account the enduringness and weaknesses of the organization but also the environmental factors that might act as a stimulator or may hinder their performance (Joyce and Woods 2001). This analysis is very much useful and is mandatory to be carried out.Red Bull saw growth potential in western markets and launched their product by making changes in the old THAI product. However, while launching their product they had to face few limitations as well. There was a huge criticism regarding the Red Bull energy drink in terms of its ingredients. When the product was eldest launched it took about 3 years for the approval of its sales in Austria, however, Hungary became its first foreign market in 1992. The exotic nature of its ingredients was one of the reasons