401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

Table of Contents
QUESTION 1 ............................................................................................................................................ 1
1.1 “A strategy is not a plan”. Briefly debate this statement. .......................................................... 1
1.2 Discuss the four elements of a strategy...................................................................................... 1
1.3 Discuss the role of leadership in strategic management, and provide examples of how
effective leadership can influence the success of a company's strategy. .............................................. 2
1.4) Briefly describe how customers and staff members influence strategy ......................................... 2
1.5) How does strategic management assist an organization in marketing a product? ........................ 3
QUESTION 2: ........................................................................................................................................... 4
2.1 Outline the strategic decision-making framework? ......................................................................... 4
2.2 In your own words explain the concept of strategic thinking .......................................................... 5
QUESTION 3: ........................................................................................................................................... 7
3.1) Explain how well the organization’s products/services solve their customer’s problems and meet
their demands? ....................................................................................................................................... 7
QUESTION 4: ........................................................................................................................................... 9
4.0 Discuss some of the business strategies that are enabling Samsung to maintain its market share. 9
REFERENCES:......................................................................................................................................... 10

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

QUESTION 1

1.1 “A strategy is not a plan”. Briefly debate this statement.

A strategy is a high-level, long-term approach designed to achieve specific goals or

objectives while a plan is a detailed, tactical outline of how to execute a strategy. It breaks
down the strategy into actionable steps, specifying who is responsible for each task, what
resources are required, and when these actions should be taken. A strategy spans several
years or even decades and provides a long-term vision for the organization. Plans have
shorter time horizons and are more focused on the immediate future, often detailing
actions for weeks, months, or a fiscal year. Strategies are broader, outlining the "what" and
"why" of an organization's actions. Plans are detailed, specifying the "how," "who," "when,"
and "where" of executing the strategy. (Hart, 2019)

1.2 Discuss the four elements of a strategy.

Mission Statement
The mission statement is the foundational element of a strategy. It defines the core purpose
and identity of the organization. It answers the question, "Why does the organization exist?"
A well-crafted mission statement should be concise and inspiring, reflecting the
organization's values and long-term aspirations.
Vision Statement
The vision statement outlines what the organization aims to become in the future. It paints
a vivid picture of the desired state or outcome that the organization is working towards. A
strong vision statement provides direction and motivation for the organization and its
stakeholders.
Goals and objectives
Goals and objectives are specific, measurable targets that an organization sets to achieve its
mission and full-fill its vision. These are the concrete outcomes that the strategy aims to
deliver. Goals are typically broader, long-term aspirations, while objectives are specific,
short-to-medium-term milestones that help track progress.
Strategic Initiatives and Actions:
This element outlines the specific actions, tactics, and initiatives that the organization will
undertake to achieve its goals and objectives. It involves the allocation of resources,
assigning responsibilities, and setting timelines for implementation. Strategic initiatives
should align with the overall mission, vision, and goals of the organization.
(Wright, 2022)

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

1.3 Discuss the role of leadership in strategic management, and provide examples of how
effective leadership can influence the success of a company's strategy.

Roles of leadership:

• Vision Setting and Alignment - Effective leaders are responsible for setting a clear
and compelling vision for the organization. Example Steve Jobs, the co-founder of
Apple Inc., had a visionary leadership style. His vision of creating innovative and
user-friendly technology products, like the iPhone and iPad, led Apple to tremendous
success.
• Strategic Planning and Implementation - Leaders are responsible for developing and
communicating the organization's strategy. They ensure that the strategy is aligned
with the company's mission and vision. Example Elon Musk, the CEO of Tesla, is
known for his hands-on approach to strategic planning and implementation. His
leadership has driven Tesla's focus on electric vehicles and sustainable energy
solutions.
• Monitoring and Adaptation - Leaders continually monitor the progress of strategic
initiatives and are willing to adapt the strategy in response to changing market
dynamics, customer preferences, and competitive landscapes. Example Tim Cook,
the CEO of Apple, has overseen the adaptation of Apple's strategy by expanding its
services and wearables segments, responding to shifts in consumer behaviour and
market trends.
• Resource Allocation - Leaders make critical decisions regarding resource allocation,
including budgeting, staffing, and investment priorities. Effective leaders allocate
resources in a way that supports the strategic goals of the organization (Indeed
Career Guide, n.d.)

1.4) Briefly describe how customers and staff members influence strategy

Customers:

• Customer Preferences and Needs: Understanding customer preferences, needs, and

feedback is essential for shaping a successful strategy.
• Market Research: Customer behaviour and market trends drive strategic decisions.
Comprehensive market research helps organizations identify opportunities, threats,
and emerging trends, allowing them to adjust their strategies to remain competitive.
Staff Members:

• Employee Expertise: Employees possess valuable knowledge and expertise about the
organization's operations, customers, and industry.
• Employee Engagement: Engaged and motivated staff members contribute to a
positive workplace culture and can be more innovative and productive.

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

• Talent Management: Recruitment, training, and talent development strategies are

critical for ensuring that an organization has the right skills and capabilities to
execute its strategy effectively. Employee recruitment and development initiatives
align with strategic goals.
(CintTM, n.d.)

1.5) How does strategic management assist an organization in marketing a product?

Market Analysis: Strategic management encourages a thorough analysis of the market,

including customer needs, preferences, and trends. This analysis helps in identifying target
markets, understanding customer segments, and assessing competitive forces.
Competitive Advantage: Through strategic management, organizations can identify their
unique strengths and capabilities, which can be leveraged to create a competitive
advantage. This advantage can be translated into unique selling propositions (USPs) that
differentiate the product in the market.
SWOT Analysis: A key component of strategic management is conducting a SWOT
(Strengths, Weaknesses, Opportunities, Threats) analysis. This analysis helps in identifying
internal strengths and weaknesses related to the product and external opportunities and
threats in the market. This information guides marketing strategies and tactics.
(BSBI, 2019)

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

QUESTION 2:
2.1 Outline the strategic decision-making framework?

1) Establish the strategic goal:

• Clearly state the overarching aim or purpose that the choice should serve.
• The mission, vision, and values of the organization must all be adhered to.

2) Obtain Information:

• Gather pertinent information, facts, and insights from both internal and external
sources.
• Analyze the existing situation, the market, the competitors, and other important
variables.

3) Choose Alternatives:

• Make a list of probable choices or solutions to meet the strategic goal.

• Think about a variety of options, including both conventional and cutting-edge fixes.

4) Consider the alternatives:

• Consider the advantages and disadvantages of each possibility with regard to how
they might affect the strategic goal.
• To analyse options, use analytical tools like SWOT analysis, cost-benefit analysis, or
scenario planning.

5) Prioritize and establish criteria:

• Establish precise standards for assessing and contrasting alternatives.

• Sort the criteria in order of importance to the strategic goal.

6) Choose the Best Option:

• Use the predetermined standards to rank or grade each choice.

• Select the solution that most closely adheres to the strategic goal and evaluation
standards.

7) Create a plan of action:

• Make a thorough plan for carrying out the selected alternative.
• Describe the duties, deadlines, and resources that will be needed.

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

8) Risk evaluation and mitigation:

• Determine any possible dangers and ambiguities connected to the selected option.
• Create plans to lessen or minimize these risks.

9) Implementation of the Decision:

• Implement the plan of action and keep a careful eye on results.

• Adapt as necessary as the plan develops.

10) Mobilize and Communicate:

• Make sure that everyone involved is informed about the choice and its effects.
• Mobilize resources and support for successful implementation.
(Bishop, n.d.)

2.2 In your own words explain the concept of strategic thinking

A person uses strategic thinking as a mental or intellectual strategy to accomplish a goal or

set of goals. It causes thought because it is a cognitive activity. Strategic thinking is the
production and use of unique business insights and possibilities designed to give a company
or organization a competitive advantage. This is done as part of an organizational strategic
management process. It can be carried out both alone and cooperatively by influential
individuals who have the power to change the course of an organization. By encouraging
proactive and creative discourse where people can learn other people's viewpoints on
important and complex issues, group strategic thinking may add more value. In today's
fiercely competitive and rapidly evolving business environments, this is viewed as
advantageous. (Kruger and Maritz, 2017)
2.2.1 Explain the relationship between Strategic Directions and the Vision of a company?
The vision sets the long-term destination and purpose for the company, while strategic
directions outline the specific routes and actions needed to reach that destination. A
company's vision and its strategic directions are closely related and are essential to
determining the long-term success of an organization. They are connected in the following
ways and are a part of the larger strategic planning framework:
Alignment: Strategic directions are designed to align with and support the company's vision.
Each strategic direction should contribute to the realization of the overarching vision.
Clarity: While the vision provides a high-level, aspirational statement, strategic directions
offer clarity on how the vision will be achieved. They define the specific areas or aspects of
the business that need attention and action.

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

Implementation: Strategic directions are the practical steps and initiatives that need to be
undertaken by the organization to move closer to its vision. They provide a practical guide
for decision-making and resource allocation.
Adaptation: Strategic directions can evolve over time as the external business environment
changes or as the organization's internal capabilities and resources develop. However, any
changes to strategic directions should still align with the overall vision.
(Indeed Career Guide, n.d.)

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

QUESTION 3:
3.1) Explain how well the organization’s products/services solve their customer’s problems
and meet their demands?

An organization's success and customer satisfaction depend on its ability to effectively solve
customer problems and meet their demands. This involves understanding customer needs,
developing relevant products or services, and ongoing efforts. These points outline the
essential components for an organization to effectively address customer problems and
meet their demands through its products or services:
1. Market Research and Customer Insights:

• Organizations should conduct thorough market research to understand their target

audience, their pain points, preferences, and evolving needs.
• Collecting and analysing customer feedback, conducting surveys, and using data
analytics can provide valuable insights into customer behaviour and expectations.
2. Product/Service Development:

• Based on the insights gained, organizations should develop products or services that
directly address customer problems and demands.
• This may involve innovating new solutions or improving existing offerings to better
align with customer needs.
3. Customer-Centric Design:

• Employing a customer-centric approach to design ensures that products and services

are user-friendly, intuitive, and tailored to meet customer expectations.
• Usability testing and user feedback are essential for refining product/service design.
4. Quality Assurance:

• Ensuring the quality and reliability of products/services is crucial for meeting

customer demands.
• Quality control processes should be in place to identify and rectify any defects or
issues that could hinder customer satisfaction.
5. Continuous Improvement:

• Organizations must be committed to continuous improvement by staying agile and

responsive to changing customer preferences and market dynamics.
• Regularly soliciting and acting upon customer feedback is vital for making necessary
adjustments.
6. Customer Support and Engagement:

• Providing excellent customer support helps address any issues or questions that
customers may have, enhancing their overall experience.
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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

• Engaging with customers through various channels (e.g., social media, email, live
chat) allows organizations to stay connected and gather real-time feedback.
7. Monitoring and Analytics:

• Using data and analytics tools, organizations can track customer behaviour, assess
product/service performance, and identify areas for enhancement.
• Key performance indicators (KPIs) should be established to measure the success of
products/services in meeting customer demands.
8. Competitive Analysis:

• Organizations should keep an eye on competitors and benchmark their offerings

against industry standards to ensure they remain competitive and relevant.
9. Adaptation and Innovation:

• As customer needs evolve or new problems arise, organizations should be willing

and able to adapt their products/services and innovate to stay ahead of the curve.
10. Communication:

• Effective communication is essential in conveying how products or services address

customer problems and meet their demands.
• Marketing and messaging should be aligned with customer needs and emphasize the
value of the offerings.
(courses.lumenlearning.com, n.d.)

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

QUESTION 4:
4.0 Discuss some of the business strategies that are enabling Samsung to maintain its market
share.
Samsung's success can be attributed to its product diversification, investment in research
and development, vertical integration, strong brand presence, competitive pricing,
partnerships, and customer-centric approach. The company operates in various industries,
including smartphones, consumer electronics, semiconductors, and home appliances,
allowing it to adapt to market fluctuations and maintain revenue. Samsung's commitment
to innovation has resulted in cutting-edge products like the Galaxy S and Note series
smartphones, QLED TVs, and semiconductor technology. The company's vertical integration
ensures a consistent supply chain, reduces costs, and enhances quality control. Samsung's
marketing campaigns highlight product features, catering to both tech enthusiasts and
everyday consumers. The company also collaborates with other companies to strengthen its
offerings, such as Google for Android integration and content providers for smart TV
ecosystems. Samsung's customer-centric approach ensures products meet the needs and
desires of their target audience. The company's global presence allows it to adapt to
regional preferences and market conditions. Samsung's commitment to sustainability,
continuous improvement, and robust after-sales support further enhances customer loyalty.
Strategic acquisitions, such as Harman International, further expand Samsung's capabilities
and product offerings.
(buildd, 2023)

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401907116 AZEEM SATHAR ITSM 732 ASSIGNMENT 1

REFERENCES:
1. Bishop, A. (n.d.). An Effective Framework for Strategic Decision-Making. [online]
blog.hellostepchange.com. Available at: https://blog.hellostepchange.com/blog/an-
effective-framework-for-strategic-decision-making.
2. BSBI. (2019). The Role of Strategic Marketing in an Organisation. [online] Available
at: https://www.berlinsbi.com/blog/the-role-of-strategic-marketing-in-an-
organisation [Accessed 1 Sep. 2023].
3. buildd (2023). Samsung’s Marketing Strategy: How Samsung became a Pioneer in the
Electronics Industry despite all odds. [online] buildd. Available at:
https://buildd.co/marketing/samsung-marketing-strategy.
4. CintTM. (n.d.). Why Market Research Is Important | Benefits Of Market Research.
[online] Available at: https://www.cint.com/blog/why-market-research-is-
important/.
5. courses.lumenlearning.com. (n.d.). The Role of Customers in Marketing |
Introduction to Business. [online] Available at:
https://courses.lumenlearning.com/suny-hccc-introbusiness/chapter/the-role-of-
customers-in-marketing/.
6. Hart, M. (2019). Strategic vs. Tactical Planning: The What, When, and Why. [online]
Hubspot.com. Available at: https://blog.hubspot.com/sales/strategic-vs-tactical-
planning.

7. Indeed Career Guide. (n.d.). 11 Examples of Strategic Leadership (With Relevant

Skills). [online] Available at: https://ca.indeed.com/career-advice/career-
development/examples-of-strategic-leadership.
8. Indeed Career Guide. (n.d.). 7 Types of Strategic Direction. [online] Available at:
https://www.indeed.com/career-advice/career-development/strategic-direction.
9. Kruger, J.-P. and Maritz, R. (2017). A STRATEGIC THINKING APPROACH TO THE
DELIVERY OF A CREATIVE AND ADAPTIVE STRATEGY. [online] Available at:
https://repository.up.ac.za/bitstream/handle/2263/65490/Kruger_Strategic_2017.p
df?sequence=1&isAllowed=y.
10. Wright, T. (2022). Corporate Strategy: The Four Key Components. [online]
www.cascade.app. Available at: https://www.cascade.app/blog/corporate-strategy.

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