In this report, there is proper information about the business strategies. In strategic management there is also formulation, implementation and evaluation of the main goals of the company. Moreover, the most important part for the company is to understand the target audience. If the target audience is not clear then it will become extremely difficult to apply strategies. There is complete information about the strategic management of the firms in the given questions.

Question 1
Part a: It can be noted that in strategic management there is development of strategic vision and mission. Moreover, it will also adjust the goals and objectives of the organization properly. In strategic management there is also formulation, implementation and evaluation of the main goals of the company. The next fact is that if company applies strategic management then it will become simple to achieve vison and mission. For that case, the company is required to analyse each process of the strategic management. In the next step, there is some information about key steps in the strategic management (Bambang Baroto, 2012).
Key steps related to the strategic management

The first step is related to the development of strategic vision, mission and objectives. This is because whenever any organization wanted to achieve the strategic goal then there is requirement of determining these goals for the company. All of these goals will be achieved for the future of the company.

The next step is related to the analysis of organizational environment. This step is playing an important role in the strategic management. This is because company can easily analyse external and internal environment. For external environment they will analyse social, political, environmental, economic and technological factors of the market. All of these factor will affect the progress of market in the future. Therefore, companies are required to analyse all factors so it will become easy to achieve goals and also work according to the vison and mission (Kessler, 2007).

The next step is related to the formulation and implementation of the strategy. For that case, managers will make different strategies to achieve these goals before time and according to the vision and mission of the company. Moreover, the next step is related to the evaluation and control of the strategy. This is because when strategy is formulated and implemented then managers will evaluate it properly. Furthermore, the evaluation of problem must be continues process if they wanted to implement strategy in a proper way for the company (Chaston, 2012).

Part 2: The three main indicators of strategic failure are given below

The first one is related to clarity in objective. This shows that if the main objectives of the company are not clear then it will be a huge strategic failure. This is because after implementing strategy company is not able to achieve its goals. Moreover, the most important part for the company is to understand the target audience. If the target audience is not clear then it will become extremely difficult to apply strategies (Kessler, 2007).

The next indicator is related to the finance problem. This shows that finance is extremely important part of the company. Moreover, a company must contain adequate cash flows so they can easily stable in the market. If a company do not have proper cash to maintain their business then it will move towards failure.

The last indicator is related to the management. If the management of the company is poor then they are not able to achieve goals and objectives of the company. The poor management will lead towards failure in strategic management. This is because they are not able to control employees and task in a proper way. This will result in failure in the strategic management of the company (Lacasse & Nadim, 2009).

Question 2
Part a: It can be noted that banking institutions are considered as important part of the value chain activities. The primary activities of the banking institution is related with the transformation of inputs into outputs and delivering and supporting the required output. In the primary activities, there are a lot of operations that involved outbound, inbound logistics operation, post-purchase services and sales and marketing. But the main fact in the banking sector is that its primary activities are somehow different and they are given below (Gekonge, 2013).

The first one is related to marketing. It can be noted that marketing is extremely important for any business. The next point is that competition is increasing in the banking sector due to this marketing has become an essential part for minimizing the competition in the market. Due to this fact, banks are involved in making perfect brand image for their customers.

The next primary activity is related to sales. It can be noted that sales is also important for improving the banking value chain in a perfect way. The main fact is that banking industry is highly competitive so sale function is playing an awesome role for them. The sale management team of banks is highly efficient. This is the reason why they can easily increase their sales properly (McGrath, 2013).

The next activity is related to product and transaction. Moreover, it can be observed that product is also a main part of the banking value chain. The banking products are in the form of loan, deposits and other kind of activities. The next point is that banking industry is offering high amount of product and services for the customer. Moreover, transaction is also an important activity in the value chain of banking industry. This activity is improved by the addition of essential technology (Lacasse & Nadim, 2009).

Part b

According to the fact, it is not easy to implement strategies and objectives for the global and multinational companies. Moreover, implementation of strategy is considered as a huge process. There are a lot of activities are involved in the strategy. This shows that it is considered as a long process if any multinational company wanted to implement a strategy. This is because multinational companies are present in different parts of the world. Due to this, every country contain different requirement. Therefore, these companies are required to analyse the required problem present in the company. For that purpose, they started to analyse the supply chain and production process. On the other hand, in simple companies strategy implementation is an easy process. This is because company has to develop goals and objective and started working hard to achieve it. In multinational companies, it will take 2 years for implementing strategy according to goals. Moreover, it can be implemented within 2 months in small companies (Malobi Mukherjee, 2014).

Question 5
Explanation about nature of merges and acquisitions

It can be noted that term merger is concerned when two organizations are consolidated together and make a new company with same rules and regulations. The next fact is that mergers are uncommon and also many organizations are not using it. Moreover, the fact is showing that due to this company can easily improve its strategies properly. This term can be explained with and example. This means that one company is going to dominate the other one in terms of revenue and position. These companies are belonging from the same industry. Due to this they started to merge and become one company. The dominate company will be the leader. Moreover, another fact is that mergers and acquisitions considered as best way to drawn out business strategies. For that case, new partners or business takeovers are involved in making different strategies. The main aim of these mergers is to provide essential refection on the main strategies of the company. But for that case, there is a need of unique approach to implement these strategies.

This shows that companies must be ready to face any kind of challenge in the market. Moreover, companies are increasing and decreasing risks according to its activities. Due to this portion of its activities will fall completely flat. The next point is that executives of the company has to work on the flexibility of the strategy that is going to implement in a company (Gekonge, 2013).

Role of mergers and acquisitions in strategy development

It will help to fill main gaps in the services and product contributions. The fact is that when there is change in commercial centre due to political activities and law enforcement. Due to this there is a huge gap in the basic contribution of the company. This will become a huge opportunity for the merger.

Moreover, it is also considered as important approach for obtaining talent and intellectual property. There are many companies that are looking for great talent in different department of the company. Furthermore, there is need to protect the company from different cybercrime issues.

Despite this, it will also provide a huge opportunity to leverage cooperative energies. This means that a key merger is able to develop strategies and apply some changes. It can be noted that there are about two main kinds of M and A related cooperative energies. This include income and cost.

The next important role is related to apply another action plan. There are some companies that are completely depended on the billable-hours plan of action. But it can be seen that it is not only choice. There are a lot of firms involved in producing fixed expanse income. Moreover, there are also some that are using membership models. Moreover, it will also save important time of the company for absorbing information. This means that companies are able to introduce new services for solving different problems effectively (Lacasse & Nadim, 2009).

Conclusion of Exploring Business Strategy

Summing up the discussion from above, it is concluded that strategic management is extremely important for the companies. The next fact is that if company applies strategic management then it will become simple to achieve vison and mission. Furthermore, the evaluation of problem must be continues process if they wanted to implement strategy in a proper way for the company. The poor management will lead towards failure in strategic management. This is because they are not able to control employees and task in a proper way.

References of Exploring Business Strategy

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