Compare and contrast two case studies of strategic management Essay

Compare and contrast two case studies of strategic management techniques in the public sector in order to examine a) the impact of strategic leadership and b) t - Essay Example We shall try to apply theoretical knowledge to the case study research. This theoretical knowledge will become the basis for fulfilling the main purpose of the present case study. Glaxo is a health company with strong foundation into science. It is occupied with production of medicine for World health Organizations three priority diseases – HIV/AIDS, tuberculosis and malaria. The strategic management of the company consists of four steps – draw, see, think and plan. Reuters is known to be news service organization. It is necessary to mention that the company was established in 1851 by Paul Julius Reuter. Nowadays Reuters provides reports to newspapers from the whole world. But news provides only less than 10% of Reuter’s income. It concentrates on providing financial markets with necessary and essential information about new products and their trading. Their activities involve currency rates, share price and other market data. (Kay 1995) Strategic management is â€Å"the process of specifying an organizations objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans†. (Strategic management techniques) It is known that strategic management is the highest level of managerial process. This process is performed by executive team headed by CEO (Chief Executive Officer). (Kay 1996) Strategic management is also concerned as combination of formulation and implementation of company’s strategy. But there must be strong correlation between purpose and the chosen strategy. There are several steps of strategy formulation: These two processes are on-going and ever-lasting. It is a common knowledge that strategic management is really dynamic and it requires permanent reformation and improvement. It also includes patterns of complex actions and reactions,