CHAPTER 1

INTRODUCTION

1.1. Nature of Strategic Management

Strategic management, at its core, embodies the essence of organizational leadership

in a rapidly evolving business environment. Understanding the nature of strategic
management involves delving into its fundamental characteristics that set it apart as a
dynamic and integral aspect of organizational functioning.

1.1.1. Future-Oriented Perspective

Strategic management is inherently future-oriented, emphasizing the significance of

long-term planning and foresight. It involves anticipating and responding to changes in the
external environment, market trends, and competitive landscapes. Organizations engaging in
strategic management seek to position themselves advantageously in the future, making
decisions today that will yield sustainable success tomorrow.

1.1.2. Holistic and Integrated Approach

Strategic management is not a standalone activity but a comprehensive and integrated

process. It permeates through all levels of an organization, aligning various functions and
departments towards common goals. From top leadership to operational staff, everyone plays
a role in the strategic management process. This integrated approach ensures that the entire
organization works cohesively towards a shared vision and mission.

1.1.3. Continuous and Adaptive Process

Unlike static planning, strategic management is a continuous and adaptive process. It

recognizes the dynamic nature of the business environment and necessitates a constant cycle

1
 of planning, implementation, and evaluation. Organizations engaging in strategic
management are agile, ready to adjust strategies based on evolving circumstances and
feedback. This adaptability is critical for survival and competitiveness in an ever-changing
marketplace.

1.1.4. Multifunctional and Multilevel Activity

Strategic management is not confined to a single department or level within an

organization. Instead, it is a multifunctional and multilevel activity that involves the active
participation of leaders, managers, and employees across various departments. It integrates
diverse perspectives and expertise, ensuring that strategic decisions consider the broad
spectrum of organizational capabilities and challenges.

1.1.5. Proactive Orientation

A proactive orientation is a hallmark of strategic management. Instead of merely

reacting to external forces, organizations practicing strategic management actively shape
their future. This proactive stance involves seizing opportunities, mitigating risks, and
creating a favorable competitive position. Strategic management empowers organizations to
be architects of their destiny rather than passive observers of market dynamics.

1.2. Understanding the Strategic-Management Process

In the dynamic and competitive landscape of business, strategic management plays a

pivotal role in guiding organizations towards success. It involves a systematic and
comprehensive approach that encompasses three crucial stages: strategy formulation,
implementation, and evaluation. This chapter explores the intricacies of these stages, shedding
light on the strategic-management process that is essential for organizational survival and
growth.

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1.3. The Three Pillars of Strategy: Formulation, Implementation, and Evaluation

Effective strategic management unfolds in three interconnected phases: strategy

formulation, implementation, and evaluation. Each stage demands careful consideration and
deliberation. Strategy formulation involves the development of long-term goals and objectives,
crafting a viable strategy to achieve them. Implementation is the execution phase where plans are
put into action. Finally, evaluation involves assessing the outcomes and making necessary
adjustments. This chapter delves into the significance of each stage, unraveling the complexities
of creating and sustaining a successful strategic plan.

1.4. Balancing Analysis and Intuition: The Art and Science of Strategic Management

Strategic decision-making is a delicate balance between rigorous analysis and insightful

intuition. The need for integrating both facets is paramount in navigating the uncertainties of the
business environment. While analysis provides data-driven insights, intuition allows for a
nuanced understanding of complex situations. This chapter explores why the fusion of analysis
and intuition is crucial in strategic management, illustrating how successful leaders leverage both
to make informed and agile decisions.

As we embark on the exploration of strategic management concepts and cases, it becomes

evident that a holistic understanding of the strategic-management model, the benefits it offers,
and the potential pitfalls is essential for managers and leaders aiming to steer their organizations
towards sustained success.

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 CHAPTER 2

LITERATURE REVIEW

2.1. Definition of Strategy

Strategy refers to a comprehensive plan of action designed to achieve a specific goal. It

involves making choices and allocating resources to attain a competitive advantage. Strategy is
important because the resources available to achieve goals are usually limited. Strategy generally
involves setting goals and priorities, determining actions to achieve the goals, and mobilizing
resources to execute the actions. A strategy describes how the ends (goals) will be achieved by
the means (resources). Strategy can be intended or can emerge as a pattern of activity as the
organization adapts to its environment or competes. It involves activities such as strategic
planning and strategic thinking.

Henry Mintzberg from McGill University defined strategy as a pattern in a stream of

decisions to contrast with a view of strategy as planning, while Henrik von Scheel defines the
essence of strategy as the activities to deliver a unique mix of value – choosing to perform
activities differently or to perform different activities than rivals. while Max McKeown (2011)
argues that "strategy is about shaping the future" and is the human attempt to get to "desirable
ends with available means". Vladimir Kvint defines strategy as "a system of finding,
formulating, and developing a doctrine that will ensure long-term success if followed faithfully."

2.2. Definition of Strategic Management

Strategic management is the art and science of making decisions that shape the direction
of an organization. It involves formulating, implementing, and evaluating strategies to achieve
long-term objectives. Strategic management provides overall direction to an enterprise and
involves specifying the organization's objectives, developing policies and plans to achieve those

4
objectives, and then allocating resources to implement the plans. Academics and practicing
managers have developed numerous models and frameworks to assist in strategic decision-
making in the context of complex environments and competitive dynamics. Strategic
management is not static in nature; the models can include a feedback loop to monitor execution
and to inform the next round of planning.

Michael Porter identifies three principles underlying strategy:

a. creating a "unique and valuable (market) position"

b. making trade-offs by choosing "what not to do"
c. creating "fit" by aligning company activities with one another to support the chosen
strategy

2.3. Literature review on Strategic Management

The field of strategic management has evolved significantly since the early 20th century,
gaining coherence in the 1960s as a distinct stream of management research. This development
marked a shift towards a more contingent perspective, emphasizing the need for organizations to
adapt to their external environment (Furrer et al., 2008). The 1970s witnessed the emergence of
research-based approaches, categorized into two strands: a process approach and research aimed
at understanding the relationship between strategy and performance, with a focus on the
environment's interaction with organizations. The 1980s acknowledged the significance of
internal resources, leading to two major research streams: transaction costs economics and
agency theory (Furrer et al., 2008).

In 1980, the establishment of the Strategic Management Journal reflected the growing
importance of the field. Key scholars, including Porter (1980) and Schendel and Hofer (1979),
contributed to the transition from reliance on toolkits to a systematic, theoretical analysis of firm-
level strategy (Nurer et al., 2008). The 1990s saw a shift from environmental and strategy-based
research to a focus on financial and resource-based research and a return to an internal
perspective (Furrer et al., 2008).

Understanding strategic management is crucial for comprehending policy and strategic

development within organizations. Scholars argue for exploring the relationship between stated

5
 strategic intentions and operational reality to inform evidence-based approaches to organizational
change and development (Johnson et al., 2008). Mintzberg and Walker (1989) propose viewing
strategic management as a pattern of deliberate and emergent actions, emphasizing the reality of
strategy implementation.

2.4. Importance of Strategy in Manufacturing

Manufacturing, as a critical sector of the economy, relies heavily on strategic decision-

making to ensure efficiency, competitiveness, and sustainability. The importance of strategy in
manufacturing cannot be overstated, as it encompasses various aspects ranging from production
processes to supply chain management. In this section, we will delve into the key reasons why
strategic planning is essential for manufacturing businesses.

2.4.1. Enhancing Operational Efficiency

Strategic Decision Example: Adopting Lean Manufacturing Practices

One of the primary objectives of strategic planning in manufacturing is to enhance

operational efficiency. By adopting lean manufacturing practices, companies aim to eliminate
waste, reduce production time, and optimize resource utilization. For instance, a car
manufacturing company implementing a just-in-time (JIT) inventory system strategically
minimizes inventory holding costs and ensures a streamlined production process.

2.4.2. Meeting Market Demand and Changing Trends

Strategic Decision Example: Agile Manufacturing Strategies

Manufacturers need to align their strategies with market demands and changing trends.
Strategic decisions, such as implementing agile manufacturing strategies, allow companies to
quickly adapt to shifts in consumer preferences. This is particularly crucial in industries where
product life cycles are short, like in electronics or fashion.

6
 2.4.3. Cost Leadership for Competitive Advantage
Strategic Decision Example: Implementing Cost Reduction Programs

Cost leadership is a common strategic approach in manufacturing. Companies strive to

become the low-cost producers in their industry, enabling them to offer competitive prices and
potentially gain a larger market share. Implementing cost reduction programs, optimizing supply
chains, and negotiating favorable supplier agreements are strategic decisions that contribute to
achieving cost leadership.

2.4.4. Product and Process Innovation

Strategic Decision Example: Investing in Research and Development (R&D)

Manufacturers must innovate to stay competitive. Strategic decisions related to investing in

research and development (R&D) allow companies to develop new products, improve existing
ones, and enhance manufacturing processes. For instance, a pharmaceutical company investing in
R&D to create new formulations demonstrates a strategic commitment to innovation.

2.4.5. Supply Chain Management

Strategic Decision Example: Establishing Robust Supplier Relationships

In the realm of manufacturing, effective supply chain management is a critical aspect that
significantly contributes to the success of a company. The strategic importance of supply chain
management in manufacturing cannot be overstated, especially when it comes to ensuring
operational efficiency, cost-effectiveness, and responsiveness to market demands. One strategic
decision that exemplifies the importance of supply chain management is the establishment of
robust supplier relationships.

7
2.5. Importance of strategy in Service

The importance of strategy in the service industry cannot be overstated, as it plays a

crucial role in shaping the success and sustainability of service-oriented businesses. Here are
some key reasons why strategy is vital in the service sector:

Competitive Advantage: Developing a well-defined strategy helps service providers

differentiate themselves from competitors. It allows them to identify and leverage their unique
strengths, creating a competitive advantage in the market.

Customer Satisfaction and Loyalty: A strategic approach enables organizations to

understand customer needs and preferences better. By aligning service delivery with customer
expectations, businesses can enhance customer satisfaction and build long-term loyalty.

Resource Allocation: Efficient resource allocation is essential in the service industry

where resources such as time, personnel, and technology are critical. A clear strategy helps in
prioritizing and allocating resources effectively to maximize operational efficiency.

Innovation and Adaptability: Service environments are dynamic and subject to constant
changes in technology, customer expectations, and market trends. A strategic framework
encourages a culture of innovation and adaptability, allowing service providers to stay ahead of
industry shifts.

Risk Management: The service industry is inherently vulnerable to various risks,

including economic fluctuations, changing regulations, and unforeseen challenges. A well-
developed strategy includes risk management components, helping businesses anticipate and
mitigate potential threats.

Operational Excellence: Strategy guides the development of efficient and effective

operational processes. Service providers can optimize their workflows, reduce costs, and
improve overall performance, leading to higher productivity and profitability.

8
 Brand Image and Reputation: A carefully crafted strategy contributes to the establishment
and maintenance of a positive brand image. Consistent and high-quality service delivery, aligned
with strategic goals, enhances reputation and fosters trust among customers.

Employee Engagement and Motivation: Employees play a critical role in service

delivery. A well-defined strategy provides employees with a clear sense of purpose and
direction, fostering engagement and motivation. This, in turn, positively influences service
quality.

Expansion and Growth: Strategic planning is essential for expansion and growth
initiatives. It helps organizations identify new market opportunities, develop entry strategies, and
adapt their services to meet the needs of diverse customer segments.

Financial Performance: A sound strategy contributes to improved financial performance.

By aligning business objectives with financial goals, service providers can enhance revenue
generation, control costs, and achieve sustainable profitability.\

2.6. Importance of strategy in Marketing

In the context of marketing, strategy plays a crucial role in guiding the efforts of a
company to achieve its marketing objectives and gain a competitive advantage. Here are some
key reasons highlighting the importance of strategy in marketing:

Market Positioning: Strategic marketing helps in defining and establishing a unique

market position for a product or service. It involves identifying the target audience,
understanding their needs, and positioning the offering in a way that distinguishes it from
competitors.

Competitive Advantage: A well-developed marketing strategy allows a company to

identify and leverage its competitive advantages. This could include factors such as superior
product quality, unique features, better pricing, or effective branding.

Target Audience Focus: Marketing strategy guides businesses in identifying and

understanding their target audience. By tailoring marketing efforts to specific demographic or
psychographic segments, companies can enhance the effectiveness of their campaigns.

9
 Brand Building: Strategic marketing is essential for brand building. It involves creating a
consistent and compelling brand image that resonates with the target audience. This can lead to
increased brand loyalty and recognition.

Product Development and Innovation: Marketing strategy often involves assessing

market needs and trends, which can inform product development and innovation. Companies can
align their product offerings with customer demands, staying ahead in a competitive market.

Resource Allocation: Marketing strategy helps in allocating resources effectively. By

identifying the most promising market segments and channels, companies can optimize their
budget, ensuring that resources are allocated to activities that yield the highest return on
investment.

Communication and Messaging: Strategy guides the development of consistent and

impactful communication messages. Whether through advertising, public relations, or social
media, a well-defined strategy ensures that the company communicates its value proposition
clearly to the target audience.

Adaptation to Market Changes: Strategic marketing involves ongoing monitoring of

market trends and consumer behavior. This enables companies to adapt quickly to changes in the
business environment, ensuring that their marketing efforts remain relevant and effective.

Customer Relationship Management: Marketing strategy often includes plans for

customer relationship management. Building and maintaining strong relationships with
customers can lead to repeat business, positive word-of-mouth, and increased customer loyalty.

Measuring and Improving Performance: A strategic approach to marketing includes

setting measurable objectives and key performance indicators (KPIs). This allows companies to
track the performance of their marketing initiatives and make data-driven adjustments for
continuous improvement.

In essence, marketing strategy provides a roadmap for how a company will navigate the
market landscape, connect with its audience, and achieve its business goals. It's a dynamic

10
process that adapts to changing market conditions while keeping the organization focused on its
long-term vision.

2.7. Importance of Strategic Management

Strategic management holds paramount importance in the contemporary business

landscape, serving as a compass that guides organizations toward their goals and helps them
navigate the complexities of the dynamic environment. The significance of strategic management
can be encapsulated in several key aspects:

A. Competitive Advantage and Success:

Distinctive Positioning: Strategic management enables organizations to identify and

exploit their unique strengths, thereby creating a distinctive position in the market.

Adaptability: It equips organizations to adapt swiftly to changes in the external

environment, fostering resilience and ensuring long-term success.

B. Integration of Business Functions:

Holistic Decision-Making: By integrating various business aspects like management,

marketing, finance, production, research, and development, strategic management facilitates
holistic decision-making. This ensures that decisions align with overall organizational objectives.

C. Guiding the Decision-Making Process:

Vision and Mission: The formulation of vision and mission statements provides a clear
sense of purpose, guiding decision-makers and aligning the entire organization toward a common
goal.

Strategic Planning: The strategic-management process offers a structured framework for

decision-makers to plan, implement, and evaluate strategies, promoting a systematic approach to
achieving objectives.

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D. Leadership and Role of Strategists:

Critical Leadership Role: The chapter emphasizes the pivotal role of strategists,
particularly CEOs and Chief Strategy Officers, in shaping the direction of the organization. Their
ability to gather, analyze, and organize information influences the strategic decision-making
process.

Adaptability and Ethical Leadership: Strategists must embody adaptability and ethical
leadership, setting the tone for the entire organization, especially during times of change.

E. Continuous Improvement and Adaptability:

Strategic Management Model: The strategic-management model underscores the dynamic

and continuous nature of the process. It emphasizes the ongoing cycle of identifying the current
state, determining the desired state, and outlining the path to get there.

Environmental Factors: The model acknowledges the impact of business ethics, social
responsibility, environmental sustainability, and global issues on strategic decisions, reinforcing
the need for organizations to stay adaptable and responsive.

F. Financial and Nonfinancial Benefits:

Proactivity and Control: Strategic management empowers organizations to be proactive,

shaping their future and exerting control over their destiny.

Empowerment and Positive Organizational Culture: The process empowers individuals,

fosters creativity, and contributes to a positive organizational culture.

G. Risk Management and Informed Decision-Making:

Anticipating Change: Through strategic management, organizations can anticipate short-

and long-term consequences, engaging in systematic planning to prepare for future fluctuations
in their environments.

Risk Minimization: Strategic management minimizes the effects of adverse conditions

and changes, enhancing an organization's ability to navigate challenges effectively.

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2.8. The Strategic Management Processes

The strategic management process is a systematic and dynamic framework that

organizations employ to formulate, implement, and evaluate strategies, ensuring alignment with
their overall objectives. The chapter provides insights into the strategic management process,
highlighting three key stages: formulation, implementation, and evaluation.

2.8.1. Formulation
Vision and Mission Development: Organizations begin by articulating their vision and
mission, answering fundamental questions about what they aspire to become and their enduring
purpose. These statements guide the strategic direction and decision-making process.
SWOT Analysis: An essential step involves conducting a SWOT analysis (Strengths,
Weaknesses, Opportunities, Threats) to assess internal capabilities and vulnerabilities, as well as
external opportunities and threats. This analysis lays the foundation for strategy development.
Setting Objectives: Long-term objectives are established based on the insights gained
from the SWOT analysis. These objectives provide a clear target for the organization to strive
towards, encompassing what it aims to achieve over an extended period.
Alternative Strategy Generation: Strategies are formulated by generating various
alternatives that align with the organization's mission and objectives. This involves considering
different approaches to capitalize on opportunities and address challenges.
Strategy Selection: From the pool of alternative strategies, organizations select specific
strategies that best align with their goals and competitive environment.

2.8.2. Implementation

Setting Annual Objectives: The formulation stage is followed by setting annual

objectives, breaking down the long-term objectives into manageable short-term milestones. This
step provides a roadmap for achieving the broader strategic goals.
Policy Development: Policies are guidelines that support the execution of formulated
strategies. These policies guide decision-making and actions, ensuring consistency and alignment
with the overall strategic direction.

13
 Resource Allocation: Implementation involves allocating resources, both human and
financial, to support the execution of strategies. This includes assigning responsibilities,
establishing budgets, and creating a framework for resource utilization.
Motivating Employees: Successful strategy implementation requires the motivation and
commitment of employees. Leaders play a crucial role in inspiring and aligning the workforce
with the strategic goals, fostering a shared sense of purpose.

2.8.3. Evaluation

Reviewing Internal and External Factors: The evaluation stage involves a comprehensive
review of internal and external factors that may impact the organization's performance. This
includes monitoring industry trends, assessing market dynamics, and understanding changes in
the competitive landscape.
Performance Measurement: Organizations measure their performance against the set
objectives and key performance indicators (KPIs). This step provides insights into the
effectiveness of the implemented strategies and helps identify areas for improvement.
Corrective Actions: Based on the evaluation results, organizations take corrective actions.
This may involve adjusting strategies, realigning objectives, or revisiting resource allocation to
address emerging challenges or capitalize on new opportunities.
The strategic management process, as depicted in the chapter, is not a one-time event but
rather a continuous and dynamic cycle. It emphasizes adaptability, responsiveness to change, and
the integration of various business functions to achieve and maintain a competitive advantage in
the ever-evolving business environment.

14
 CHAPTER 3

EMPRICAL RESULT

3.1. Strategic Management Application of Ooredoo Myanmar

3.1.1. Background:

Ooredoo Myanmar was established in 2013 as part of the liberalization of Myanmar's

telecommunications sector.
The company secured licenses to provide mobile and fixed-line telecommunication
services.We are on a mission to empower customers across our global footprint to access and
enjoy the best of the Internet in a way that is personal and unique to them.

3.1.2. Vision and Mission Statements of Ooredoo Myanmar

The vision and mission statements of Ooredoo Myanmar states “We are on a mission to
empower customers across our global footprint to access and enjoy the best of the Internet in a
way that is personal and unique to them.

We continue to invest in our networks to ensure seamless connectivity that caters to our
customers’ growing digital needs.

We are working as a real digital enabler across our markets and our aspiration is to help
people simplify their lives and enjoy exciting and rewarding digital experiences”.

3.1.3. Strategists and Chief Strategy Officer (CSO)

15
 The CEO of Ooredoo Myanmar acts as the key strategist, overseeing the gathering,
analysis, and organization of information.

The company has recognized the importance of strategic planning, leading to the
appointment of a Chief Strategy Officer (CSO) to focus on long-term planning, industry trends,
and competitive positioning.

3.1.4. External Opportunities and Threats

Ooredoo Myanmar monitors external factors such as regulatory changes, technological

advancements, and shifts in consumer behavior.

Opportunities: Expanding mobile internet usage, growing demand for digital services.

Threats: Regulatory challenges, competition from new market entrants.

3.1.5. Internal Strengths and Weaknesses

Strengths: Strong network infrastructure, established customer base.

Weaknesses: Limited geographic coverage, potential need for technology upgrades.

3.1.6. Long-Term Objectives and Strategies

Long-Term Objective: Achieve a 20% increase in market share within the next five years.

Strategies: Expand network coverage, invest in 5G technology, and enhance customer

experience through personalized services.

3.1.7. Annual Objectives and Policies

Annual Objective: Increase data revenue by 15%.

Policies: Implement targeted marketing campaigns, optimize pricing strategies.

16
3.1.8. Strategic Management Model

Ooredoo Myanmar follows a dynamic strategic management model, regularly assessing

the current state of the telecommunications industry, determining desired future states, and
outlining flexible paths to adapt to changes.

3.1.9. Benefits of Strategic Management

Proactive control: Ooredoo Myanamr proactively shapes its future by anticipating

industry changes

Financial Success: Systematic planning contributes to increased profitability and market

share.

Empowerment: Employees are empowered through a clear understanding of the

company's mission and objectives.

17
 CHAPTER 4

CONCLUSION

In conclusion, this paper has provided a comprehensive exploration of strategic

management, emphasizing its dynamic and integral nature in the organizational context. The
nature of strategic management was dissected, highlighting its future-oriented perspective,
holistic and integrated approach, continuous and adaptive process, multifunctional and multilevel
activity, and proactive orientation. The understanding of the strategic-management process,
encompassing strategy formulation, implementation, and evaluation, was expounded upon as
three pillars crucial for organizational survival and growth.

The literature review delved into the definitions of strategy and strategic management,
tracing the evolution of the field and emphasizing the importance of internal and external
perspectives. The study then explored the strategic importance of manufacturing and service
sectors, elucidating the role of strategy in enhancing operational efficiency, meeting market
demands, achieving cost leadership, fostering innovation, and managing supply chains.

Undoubtedly, strategic management emerged as a compass guiding organizations towards

success. Its significance was underscored in the context of competitive advantage, integration of
business functions, leadership, continuous improvement, and risk management. The strategic
management model was presented as a cyclical and adaptable process, emphasizing the
interconnected stages of formulation, implementation, and evaluation.

The empirical results provided a practical application of strategic management principles,

focusing on Ooredoo Myanmar. The case study highlighted the company's vision and mission,
the role of key strategists, external opportunities, and threats, internal strengths, and weaknesses,
long-term objectives, and strategies. The dynamic nature of Ooredoo Myanmar's strategic
management model, coupled with the tangible benefits of proactive control and financial success,
demonstrated the real-world applicability and effectiveness of strategic management.
18
 In summary, this research contributes to a holistic understanding of strategic management
concepts, illustrating its benefits and potential pitfalls. As organizations navigate the
complexities of the business landscape, a strategic approach becomes imperative for sustained
success. Managers and leaders, armed with this knowledge, are better equipped to steer their
organizations towards a future that is shaped, not merely observed, by strategic foresight and
adaptability.

19
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