Reference no: EM133551106 , Length: word count:3300

Strategic Management

Assessment: Report and Reflection

Select one of the following topics in contemporary strategic management. Apply strategy theory and discuss practice related to the topic that you selected.

Topic 1: Strategic Innovation:

• Strategic innovation involves creating and implementing new ideas and approaches to gain a competitive advantage. It often requires thinking beyond incremental improvements and embracing radical or disruptive changes. Keeping up with emerging technologies such as artificial intelligence, blockchain, and the Internet of Things can be challenging. These technologies can both disrupt existing business models and provide opportunities for innovation.
• Companies can encourage strategic innovation through dedicated R&D departments, fostering a culture of creativity, and collaborating with external partners. Developing a portfolio of innovative products or services can help maintain a competitive edge.

Topic 2: Ethical and Strategic Responsible Business:
• Ethical and responsible business practices involve conducting business in a manner that aligns with moral and ethical principles. Ethical and responsible business practices are fundamentally addressing
stakeholders' expectations or their pressing social issues, i.e. customers, employees, shareholders/owners, environment, minority communities, general public, health, sports, education and arts . Stakeholders are increasingly demanding that companies engage in socially responsible practices (CSR).
• CSR is becoming an integral part of corporate strategy. Companies can integrate ethical practices into their strategies by adopting sustainability initiatives, promoting diversity and inclusion, and engaging in beyond just philanthropic efforts. Ethical practices can enhance reputation and customer loyalty.

Topic 3: Strategic Responsible Leadership and Change Management:
• Effective leadership is crucial for successful strategic change management. Responsible leaders are transparent, inspire trust, and prioritize the well-being of employees and stakeholders during times of change.
• Leaders can engage in open communication, involve employees in decision-making, and provide training and support during change initiatives. They should also model ethical behavior. When Microsoft underwent a cultural shift under CEO Satya Nadella, he emphasized a "growth mindset" and encouraged employees to learn, adapt, and take risks. This strategic responsible leadership approach helped drive innovation and cultural change within the company.

Requirements:
• You are required to support your analysis, discussion, and critical synthesis from a minimum of ten (10) peer reviewed quality research papers.
• At the end of their report, students are required to write a page reflection. This reflection will encourage students to examine their key learning from the subject, identify any changes in their thinking, behaviour and practice from the learning and interactions with the subject learning including group work.
• Length: 3000-3500 words excluding executive summary, tables, figures and references.

• Your report will be assessed for relevant research, analytical content, and logical flow of your arguments (Please see making criteria).
• You are expected to use quality research materials, literature/s (theoretical/conceptual), theory/ies, theoretical model/s, and/or conceptual framework/s from academic journals/textbooks
to analyse/justify your analyses/arguments. Relevance is the key to using such references, not the number of references you present in your report.

Report Format and Structure

1. Title Page (Title of the Report and your details)

2. Executive Summary:
• Provide a concise summary of the purpose of the report, the main analyses conducted, key findings and recommendations of your report. This should be no more than one page and should give readers a quick overview of what to expect.

3. Table of Contents:
• List all the major sections and subsections with page numbers.

4. List of Figures and Tables (if applicable):

5. Introduction:
• Provide an introduction to the topic, explaining its importance and relevance in the contemporary business landscape.
• Clearly state the purpose of your report and the specific questions or issues you intend to address.
• Provide an outline of the report's structure.

6. Literature Review:
• Review the relevant literature on the selected topic, for example, ‘ethical and strategic responsible business'. Discuss key concepts, theories, and frameworks related to the topic.
• Highlight the major trends, challenges, and debates in this area.
• Reference and critically evaluate a selection of peer-reviewed research papers that form the basis of your analysis.

7. Business Practices and Critical Analysis:
• Explore practices relevant to the selected topic, for example: concept of ethical business practices and their significance.

• Discuss specific examples of companies or industries that have excelled or faced challenges in practicing, for example: ethical and sustainable business.
• Analyse the impact of such practices, for example: ethical and sustainable practices on corporate reputation, stakeholder trust, and long-term sustainability.
• Provide examples of companies that have successfully integrated, for example: responsible business strategies into their operations.
• Discuss the advantages of such strategic practices, for example: responsible business practices in terms of competitive advantage and stakeholder relationships.
• Include detailed case studies or examples of companies that have demonstrated the topic and practices you selected, for example: ethical and strategic responsible business practices. Analyse their strategies, challenges, and outcomes.
• Offer a critical analysis of the case studies and examples presented, for example: Apple's strategy of innovation and user-centric design aligns with its mission of "bringing the best user experience" and its vision of "changing the world."
• Consider any implications/limitations of applying theory in practice, for example: ethical dilemmas or challenges they may have faced and how they addressed them.

8. Recommendations:
• Based on your analysis, provide practical recommendations for businesses looking to improve their practice, for example: ethical and responsible strategies.
• Consider the broader implications and potential benefits of adopting these recommendations.

9. Conclusion:
• Summarize the key points discussed in the report.
• Restate the significance of the topic that you selected, for example: ethical and strategic responsible business in today's context.

10. Reflection
• This reflection will encourage you to examine your key learning from the subject, identify any changes in your thinking, behaviour and practice from the learning and interactions with the subject learning including group work.

11. References:
• List all the sources you cited in your report, following a consistent citation style (e.g., UOW, Harvard referencing style).

12. Appendices (if applicable):
• Include any supplementary material, such as additional data, charts, or surveys used in your analysis.
Ensure that each section flows logically and supports the overall argument of your report. Use clear and concise language, provide evidence from credible sources, and maintain a critical perspective throughout.