Strategic Management

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1)Best Buy can successfully convey its objectives to staff members, and investors by creating a strategic vision and mission. This clarity gives a sense of direction and purpose, inspiring workers to work toward common goals. This enhances coordination and teamwork and ensures efforts are concentrated on the key factors influencing business performance. The organization can assess its progress and adapt as necessary with the help of strategic objectives, ensuring that it keeps moving toward its strategic vision.Best Buy's ability to execute its strategy depends on its ability to create a strategic vision, mission, and objectives. These activities offer a distinct feeling of purpose, bring stakeholders together, and direct resource allocation. They assist Best Buy in keeping focused on its long-term objectives and making adjustments to the rapidly evolving consumer electronics market.

2) I am analyzing Pfizer Inc. for my project. Due to Pfizer's sheer size and magnitude, they are likely using a matrix organizational structure. Pfizer has operations worldwide and has had to create a certain type of structure to accommodate to its global scale. On a general scale, Pfizer is organized around its healthcare offerings: human, consumer, and animal. Within those product offerings there are five different divisions: R&D, pharmaceuticals, manufacturing, animal health, and consumer healthcare, all of which have global operations. Given this information, there is a lot of cross-unit or cross- division communication required and each unit or division has a separate organizational structure. There are many employees across all of these organizational units that need to communicate with each other at each step of the operational process, making this structure rather complex.

3) For my project, I am analyzing Microsoft, a multinational technology company renowned for its software products, hardware devices, and cloud services. From the three areas mentioned (Staffing, Acquiring, or Structuring), I have chosen to focus on "Structuring" and will discuss Microsoft's initiatives in this area based on textbook information. . Microsoft has restructured its operations to become a cloud-first and mobile-first company. They developed Azure, a cloud platform, to capture a larger market share. Additionally, they integrated their software and hardware divisions with products like Surface. Strategic acquisitions, such as LinkedIn, strengthened their enterprise software and services. Overall, Microsoft's restructuring efforts align them with industry trends and position them for continued growth.