N. Limited is a small family-controlled manufacturing company. In its 40-year history, the company has grown to the extent that it now employs 35 staff, producing a wide range of household goods and utensils. The company has increased in sized from its small original base. However, it has never employed a strategic management approach for its development and has relied on operational decision making to determine priorities. N. Limited has never gathered any marketing information relating to its market. In recent years, the company has experienced a reduction in turn-over and profitability and is assessing how it might redress the situation. The directors of N. Limited have now decided to introduce a strategic management approach which will assist in the selection of appropriate strategies for the future development of the company. Required: Explain how strategic management differs from operational management Define development and explain why the writer argues that the outputs of N. Limited is equivalent to development? State samples of strategic planning practices mentioned in the case Discuss the cultural and organizational changes which N. Limited will need to implement in order to successfully introduce strategic management According to the case, mention the type officers’ organizations who are mandated to initiate strategic planning in organisations

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Related questions

Concept explainers

Question

N. Limited is a small family-controlled manufacturing company. In its 40-year history, the company has grown to the extent that it now employs 35 staff, producing a wide range of household goods and utensils. The company has increased in sized from its small original base. However, it has never employed a strategic management approach for its development and has relied on operational decision making to determine priorities. N. Limited has never gathered any marketing information relating to its market. In recent years, the company has experienced a reduction in turn-over and profitability and is assessing how it might redress the situation.

The directors of N. Limited have now decided to introduce a strategic management approach which will assist in the selection of appropriate strategies for the future development of the company.

Required:

Explain how strategic management differs from operational management
Define development and explain why the writer argues that the outputs of N. Limited is equivalent to development?
State samples of strategic planning practices mentioned in the case
Discuss the cultural and organizational changes which N. Limited will need to implement in order to successfully introduce strategic management
According to the case, mention the type officers’ organizations who are mandated to initiate strategic planning in organisations

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions