Strategic Management

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etitive strategy (400 words)

Identify how Hershey Company should compete and explain how/why their competitive strategy will be:

Externally and internally consistent [USE McKinsey 7S for the internal elements that need to be aligned with the external environment, i.e. all elements aligned].

Make it 2 paragraphs: external consistent (200 words) and internal consistent (200 words)

Support with 6 academics (i.e journal articles) references.

Sample Solution

The management of an organization’s resources to meet its goals and objectives is known as strategic management. Setting objectives, examining the competitive environment, studying the internal organization, reviewing strategies, and ensuring that management implements the plans across the organization are all part of strategic management. There are various schools of thought when it comes to strategic management. A prescriptive strategy management approach specifies how strategies should be produced, whereas a descriptive strategy management approach focuses on how strategies should be implemented. These schools disagree about whether strategies are formed through an analytic process that takes into account all dangers and opportunities, or if they are more like general guiding principles that can be implemented.

It is also evident from in-depth analysis of the Chairman’s report published in the annual report of Access Intelligence that the company wants to provide integrated solution for communication. The company has also been focusing on increasing quality contracts and release loss making contracts. This is one of the most important reasons where there were sales decline in the year 2017. Since the company wants to make product for the future ; it is aiming to develop product which shall enable to disrupt the reputation & Communication management industry which will help to augment the artificial intelligence capabilities, for recommending clients with the most suitable communication strategy and at the same time building communication platforms for the future. The company is also well aware of the different kinds of risk that they are exposed such as competitive, liquidity and credit risk. Key personnel risk and capital risk both are also seeking attention of the brand. It is for mitigating these risks, the management team of Access Intelligence takes appropriate measures such as risk in the product that they are marketing. This shall enable them to become market leader in the industry segment , grow the sales team across the group in a controlled manner and also putting emphasis on training and development of the personnel. As a measure for the credit risk, the company constantly tracking the clients for payments. In order to mitigate the capital risk, Access Intelligence is disposing non-core assets and makes a proper investment decisions through incorporating various techniques for evaluating the investments in projects. Therefore, Access Intelligence is aiming for developing product which shall enable to provide an integrated automated and decision making capability based on communication software products, power of artificial intelligence and through machine learning. This will enable to disrupt the industry by empowering clients with cutting edge communication management product for managing brands. So by enabling a competent product development and proper emphasis on sales force, the company is aiming to deliver best value for the investor’s investment in the company.

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