Friday, February 28, 2020

Strategic management Essay Example | Topics and Well Written Essays - 3250 words - 5

Strategic management - Essay Example f the most effective is with respect to performing a PESTEL analysis; weighing the unique threats and likely impacts of Political, Economic, Social, Technological, and Legal effects that the firm faces and could likely face in the future. Rather than laboring through a PESTEL analysis within the body of this strategic needs and future approach, the PESTEL analysis itself has been relegated to the appendix of this analysis; with only the responses to the way in which strategy can and should be formulated as a means of addressing the key weaknesses and opportunities that it denotes in the body of the analysis. Furthermore, whereas a PESTEL analysis is a perfect tool for measuring the external environment, a SWOT analysis has been engaged as a means of measuring the internal environment of ABB and delineating what Strengths, Weaknesses, Opportunities, and Threats exist for it. Therefore, through an examination of both of these measurements and a discussion of their requisitve parts, it is the hope of this author that the reader will gain a more informed understanding not only with respect to the operational realities and strategy that the firm should engage but also with regards to appreciating the dynamics of what has led ABB to experience such a level of success up until this point in time. As such, defining these issues and promoting a further discussion and analysis of operations and strategic management will hopefully engage a more full and complete understanding of the key steps that could be engaged to seek to promote ABB to a level of renewed vigor and dynamic business strength within the coming years. Ultimately, with regards to strategic analysis, there are two unique approaches that can be taken. Firstly, and external environmental approach can help to be definitive with regards to the way in which the firm itself operates within the environment of competition and other definitive compliments of the outside world. As such, Porter’s Five Forces and

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