Strategic Management
Author:
Genre: Business

Critically evaluate the potential benefits and limitations that strategic management plays in a business or organisation that you are familiar with.

About the Book

Strategic Management

Strategic management for an organization is a long term plan that they would chart out to ensure that they stay in the competition ensuring that they have an edge over the competition. It would mean the top management planning at an integrated level to ensure that all the departments within the organization is in sync with the goals that they have set for the organization. Any organization would determine its strategic plan basis its internal capabilities and the external environment that they are in. This is a dynamic process and the senior management will have to alert to the fact that they have to react to the market situation and make the strategic plans nimble and flexible enough so that they can deal with the changes in the market. For each and every organization, strategic planning is an important activity as this would decide how the future would turn out for the company and how effectively they can stay ahead of the competition. In this report we would take a look at the Tiger Airways Australia and their strategic plans. We would look at the advantages and the potential limitations of the strategic management plan for them.

Tiger Airways Australia is a subsidiary of the Singapore based carrier and have made its entry into the low cost airline market that was already facing huge competition from the existing players in the market. They had to be different for the customers to choose a new comer over the existing ones so that they could gain acceptance in the market and win customers especially when they are in such a sector where customer loyalty matters the most (Dutrénit, 2000).

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