This MGT5STR Strategic Management Assignment Answers code will let the postgraduate students to understand and examine about strategic management. It will focus on the ways of top managers and the leaders of an organization in order to develop and implement different strategies in a different organizational context.
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The concept of MGT5STR assignment answers strategic management is nothing but the way of managing activities in such a way so that it can give benefits and can help in generating revenue in a better way. The management of activities in a strategic way goes for all management processes of workers, employees and different other resources and stakeholders. Based on both internal and external conditions, an organization needs to measure their strong and weak points and accordingly strategic measurements need to be taken into consideration.
Understanding the capabilities, resources, the nature of firms, competencies, competitors, globalization and different other things also falls under the strategic management. This MGT5STR assignment answers course has been associated with the La Trobe University where students from management and other areas can also participate on enrolling themselves in this MGT5STR assessment answers course to get into the depth of strategic management.
Study level:- Master Degree
Unit code:- MGT5STR
This MGT5STR Strategic Management Assessment Answers module will discuss about both the factors associated with the internal and external condition and those factors can be included in different ways. An example for MGT5STR assessment answers can be effective to understand the real scenario such as an organization wants to expand their business globally, therefore the first and foremost things that they needs to consider is the political factors.
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Every country across the globe are having certain political rules and regulations and in order to incorporate into that country, an organization needs to obey those rules and regulations. It is not always that an organization is having a brand image and reputation globally means they can enter in any country, rather which depends on the political stability and surrounding competition among industries within that.
If it has been found that the incorporation of an organization can reduce unemployment to any country can upgrade the economical power, then that country can get the chances of entry for the benefits of both the organization and the country. In addition to that the tax policies, the rate of import and export and the other factors that depend on the political factors to a certain country based on which an organization can strategies to enter into a foreign business market. Along with that the change and leadership, different trade policies of foreign countries, de-regulation and regulation trends and other factors can be effective to understand the consideration of expansion in other countries.
In addition to Political factors, there are other factors such as Economical factors where based on the economical growth of a country, a business can ensure or have the desire the incorporate into other markets. This is because the more a country is financially developed, the more the business can generate revenue from selling products and services at high cost, whereas the underdeveloped countries people will not be willing to expand more on expensive things that can negatively impact on the business organization.
Along with that other factors such as the interest and inflation rate, unemployment and job growth, the cost of labour where based on the low labour cost an organization can have more profit after having the operations cost aside. The income of consumers also depends on the selling demand of the organization because the more consumers will income, they will have the desire and trend to buy expensive products and that can increase the sales and revenue. Then comes another factor in MGT5STR assessment answers called Social factors where based on the demographics within a country an organization can ensure whom to target for the services and products.
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Understanding of the behaviour and attitude of the consumers is one of the key considerations for a business organization to reach to an effective target audience. The growth rate of population and the patterns of employment can help in developing the business growth into any market. In addition to that considering the cultural and social trends, the standards of living and many more other factors can also ensure about the effectiveness of the business performance.
On the other hand, there are other external factors in MGT5STR assessment answers course such as Technological factors were based on starting from the production of services and goods and ending with reaching to target consumers needs to have technological power in this present world of digitalization. Therefore the more a country will be technologically developed, the more a business organization can incorporate themselves in different operational activities in the proper way.
The way of distributing and promoting goods in digital ways can help in attracting more target audience and for that the people within the country should have the utilization of smart devices and internet services. Considering these an organization can strategize for the expansion process. An organization also needs to make sure that their ways of producing and reaching to consumers do not impact on the environment because the issues of the environment are increasing day by day.
In addition to that the scarcity of raw materials and different sustainable and ethical considerations also need to keep in mind for the betterment of the business and operations. Also an organization needs to different CSR activities to make sure that foreign people are getting attracted by their positive work for the social and communal work. The last factors are the advertising standards, equal opportunities, health and safety, consumer's laws and rights and the other factors that can have impact on the business operations and that also needs to take care of.
MGT5STR Task Solution course has been discussed about the elaboration of the strategic management that an organization can take into consideration in order to have a competitive advantage in the market. Different external and internal factors related to the MGT5STR Task Solution strategic management also have been stated in the module in an effective way.
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