Strategic Management - Dick Smith Case Study
Dick Smith Foods is an Australian known organisation that appeals to the Australian
population to buy its products over cheap international imports. Strategic management and
strategy is a key factor when trying to compete and the external and internal environment
needs to be analysed to do it effectively. By using business level strategy Dick Smith can
compete with its competitors and achieve its goal of being one of the main brands that
Australians prefer to buy.
Strategic management is defined as dealing with the major intended and emergent initiatives
taken by general managers on behalf of owners involving utilization of resources to enhance
the performance of firms in their external environment (Harrington and Ottenbacher, 2010).
By using strategic management firms can gain a competitive advantage over other firms
and compete with them. Blumentritt (2006) explains that strategic management is a process
of beginning with a mission and vision. After its goals are set analysis and planning begins
followed by implementation. An evaluation takes place at the conclusion. The nature of
competition in many world industries is changing; there is a new landscape in the 21st
century. There is hyper competition like never before, technological advancements are at
a high and investments are becoming enormous. Technology is constantly changing so
businesses must adapt to stay up to date and use their resources wisely. Fleck (2008) talks
about disruptive technologies and how they caused problems. He explained that disruptive
technologies bring a new value proposition to the market and offer different features. The
rate of technological improvements tends to be faster than the improvement demanded
by customers. Ngamkroeckjoti and Johri (2003) describe hyper competition as rapidly
escalating competition arising from strategic decisions made by global and innovative
competitors. Dick Smith foods is in a difficult
population to buy its products over cheap international imports. Strategic management and
strategy is a key factor when trying to compete and the external and internal environment
needs to be analysed to do it effectively. By using business level strategy Dick Smith can
compete with its competitors and achieve its goal of being one of the main brands that
Australians prefer to buy.
Strategic management is defined as dealing with the major intended and emergent initiatives
taken by general managers on behalf of owners involving utilization of resources to enhance
the performance of firms in their external environment (Harrington and Ottenbacher, 2010).
By using strategic management firms can gain a competitive advantage over other firms
and compete with them. Blumentritt (2006) explains that strategic management is a process
of beginning with a mission and vision. After its goals are set analysis and planning begins
followed by implementation. An evaluation takes place at the conclusion. The nature of
competition in many world industries is changing; there is a new landscape in the 21st
century. There is hyper competition like never before, technological advancements are at
a high and investments are becoming enormous. Technology is constantly changing so
businesses must adapt to stay up to date and use their resources wisely. Fleck (2008) talks
about disruptive technologies and how they caused problems. He explained that disruptive
technologies bring a new value proposition to the market and offer different features. The
rate of technological improvements tends to be faster than the improvement demanded
by customers. Ngamkroeckjoti and Johri (2003) describe hyper competition as rapidly
escalating competition arising from strategic decisions made by global and innovative
competitors. Dick Smith foods is in a difficult