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Thornton's Strategic Choices - Essay Example
Author : vschaden
Pages 18 (4518 words)
Thornton’s Strategic Choices Table of contents 1. Introduction 3 2. Strategic Choices of Thornton 5 2a. Analysis of the strategic position of Thornton 5 2b. Identification of the major strategic options facing Thornton 11 2b1. Ansoff matrix 11 2b2. Strategy clock 14 2c…
18 References 21 (Words 4997) 1. Introduction The identification of successful strategies is a key challenge for managers worldwide. Usually, the ability of managers to locate strategies that are able to respond to organizational needs is differentiated, according to the personal skills and perceptions. Also, each organization’s external environment is likely to affect, more or less, the progress of strategies of the particular organization. In this context, the establishment of an effective strategic management framework can help an organization to increase its efficiencies and stabilize its market position. Kew and Stredwick (2005) note that three are the key elements of all strategic management frameworks: ‘the strategic analysis, the strategic choice and the strategic implementation’ (Kew and Stredwick 2005, p.205). The first of these elements, i.e. the strategic analysis addresses the following two issues: ‘which is the organization’s current position and where the organization wants to go’ (Kew and Stredwick 2005, p.205). At the next level, the strategic choice refers to the need for the identification of appropriate strategic options, as appropriate, for responding to the organization’s needs, as they have been identified through the strategic analysis process (Kew and Stredwick 2005). ...