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Management 1

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Also other factors such as customer relationship management and customer query management needs to strong. Dpending upon the country of operation and its external environment the company may take up either FDI or joint venture to expand. I is important that within next few years the company develops a core competency for itself. Terefore in order to develop it the company must focus on a number of aspects. Sme of the possible aspects on which competency can be achieved are variety in dishes, athenticity of the ingredients, abience of outlets, fee home deliveries, secialized or localized menu etc.

Te company should implement information technology into their system of operations. B implementing IT into their system the company will be able to introduce various other options. Fr example it can introduce online order processing system, iventory management system, cstomer relationship management and also automation of a number of store activities. Nvertheless strategic planning can also be an effective tool, i properly utilized by the company. I this context the board of directors for the company must consider one among sanding and contingency plans.

Ater determining the best possible solution and based on the evaluation, i should prioritize the plans in a systematic manner. Te implementation of the plans should be the next step. Te company should also consider controlling the implemented strategies. Srategic planning is defined as the process by which organizations decides about the objectives of the company and also decides upon the appropriate courses of action required to achieve the objectives (Cambridge Dictionaries Online, n Strategic planning is an effective tool, i it is properly utilized the company.

Aart from this strategic planning is a management tool that ensures each employees of the organization are working towards the common objective (Namac, n It involves disciplined and deliberative work culture in the organization (Bryson, 2011, pWhile on the other hand scenario development is a strategic planning method that is used by various organizations in order to formulate a long term and flexible plan. Senario development is an essential part of strategic planning process. Te primary reason behind developing scenarios in the strategic planning process is to any issues with the strategy.

Dveloping a scenario helps a company to makes its strategies resilient, rbust,...

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preview essay on Management 1
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Management
  • Level: Masters
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