Strategic Management Essay Example | Topics and Well Written Essays - 3500 words - 3

Strategic Management - Essay Example This assists various firms to get by its complexity thus competing with a variety of factors that influence the operation of business in a specific area. The marketing system of a company must operate within the framework of forces that are made up of the system’s environment. The core environmental forces are external variables, which are not easily manipulated by the board of directors of the organization. Adequate planning must be put in place in order to make sure that the business environment is suitable enough and ready to put the firm or rather organization to the excellent position in the market region. In case a business structure is not well conversant of the environment in which it operates, then it will definitely face challenges that arises from the increasing complexity of the environment within the parameter of operation. The simplest and best method to conduct the analysis of the complex environment in which a business operates is through the PEST analysis concept that simply analyses the elements of Political, Economic, Socio-cultural and Technological factors that causes impact to the organization. The extern al environment entails variables of opportunities and threats that the top management within the organization cannot control within the short-run. This concept involves monitoring and evaluation of information from external and internal sources. This is always done in order to know the position of the organization within its environment of operation. Through this, an organization will know whether it has a competitive advantage or it is on the position that is not favourable. Through this process, the organization will face challenges arising from the complexity of the environment of operation. The concept of understanding the management strategy and effectiveness of an organization is not that easy since it