7BSM2004: Strategic Management Research Assignment Help
Question
7BSM2004: This is a University of Hertfordshire assignment that demands the student to select an organization for which situational analysis needs to be done. The assignment comprises two sections- an Individual Coursework, and a reflection-based analysis. This will require the student to extensively research the chosen organization in context with its industry to develop a comprehensive view of the various factors associated with the company. In addition, the students are also required to reflect on the strategic options available in place for the organization.
Solution
In providing MSc Management Assignment Help, our experts have written a comprehensive report analyzing the Priory Group. Our experts have analyzed the organization using three tools PESTLE framework, Porter’s five forces, and VRINE analysis.
The solution for this assignment is divided into two sections- Part A: Situational Analysis, and Part B: Individual Reflection. We have provided a snippet of the complete solution here. If you also need help in writing your Strategic Management Report, feel free to approach OAS.
Part A: Situational Analysis
Introduction
In this section, our experts have provided an overview of what this report aims to achieve. You can read 50% of the solution below:
Organizations operate in a highly uncertain environment where several macro factors ranging from technology, consumers’ behaviour, and competitors constantly change market trends. Therefore, in order to sustain growth and competitiveness, organizations are required to engage in internal and external environment analysis. This enables organizations to identify opportunities and threats present in the environment and devise strategies to exploit opportunities and overcome challenges.
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Organizational Overview
The next section presents a foregrounding of the selected organization to orient the reader to the aim and vision of the company. Our experts engage in extensive research to provide reliable information on the company as well as the related industry.
Priory Group is a UK-based mental healthcare and adult social care service provider. The organization was established in 1980 and has been a part of mergers and acquisitions which has contributed to its expansion and diversification of services (Priory, 2023). In 2021, Priory Group merged with a Germany-based neurology, rehabilitation and orthopaedic service provider, Median. The merger was aimed at becoming the largest and leading mental health and rehabilitation service provider focused on social and health care services in the UK (Priory, 2022). Moreover, on an average, Priory Group offers care to approximately 35,000 people every year. Moreover, it offers care for 70 different health conditions including mental health, eating disorder, and addiction treatment with a network of 300 facilities spread in the UK (Priory, 2023).
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Situation Analysis
The following section provides an in-depth situational analysis of the Priory Group organization. Our experts have conducted this analysis at three levels- macro-level, micro-level, and Internal Factors Analysis. As per the assessment file, these tables have been developed using information about the organization from credible sources. You can read a snippet of this complete section below:
Macro Environment Analysis
Micro Environment Analysis
Internal Factors Analysis
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Discussion of Key Issues
Here, our experts have remarked upon the most significant challenges faced by the organization. Here, our exports have also stressed the urgency of these issues for which the organization will need to devise a plan accordingly.
From the above presented situational analysis of Priory Group, several issues have been identified which the organization must consider in order to sustain its competitive positioning. One such critical issue is price sensitivity among consumers in the UK as a result of ongoing inflation (BBC, 2023). As the inflation is rising, product and service pricing in the UK is also increasing at a rapid pace and is discouraging consumers to engage in extensive purchasing behaviour like before. Price sensitivity can have a direct impact on the purchase and repurchase intention of consumers and therefore can directly influence the sales and profitability of organisations (Abdullah-Al-Mamun and Robel, 2014). On a longer run, this ongoing price sensitivity can directly impact the success and competitive positioning of Priory Group in the healthcare industry of the UK. Therefore, this price sensitivity of consumers should be a major area of consideration for Priory Group. The second critical issue is lack of technological innovation. From VRIO analysis, it was found out that technologies owned by Priory Group are not highly innovative and rare.
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Possible Strategic Options
Next, some of the ways through which the challenges highlighted above can be resolved and which will eventually assist the organization in growth are discussed in the below section. These possible strategies are also backed up by evidence from relevant sources.
One possible recommendation for Priory Group to deal with ongoing price sensitivity among consumers and high competitiveness in the market is by achieving cost leadership. Cost leadership is one of the strategies proposed by Porter which involves becoming a low-cost producer in an industry (Josiah and Nyagara, 2015). Cost leadership can be adopted by achieving the economies of scale, having access to proprietary technology, and required raw materials (Kimiti et al, 2020). By becoming a low-cost producer in an industry, an organization not only gets competitive advantage over its competitors but it also helps in attracting maximum consumers. However, the challenge of adopting price leadership is to secure profit for the organization rather than operating at a loss (Josiah and Nyagara, 2015). In this way, cost leadership enables an organization to create a win-win situation for all. Consumers in the UK opt for healthcare services offered by NHS since they are free of cost but the services are extremely late.
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Recommended Strategy
Here, our experts have discussed one strategy, which can be most fit for resolving the issues highlighted with the Priory Group. This is supported by an evidence-based rationale for this choice, a part of which you can read below:
After thorough consideration, it was decided that the most appropriate strategy for Priory is to invest in R&D. As identified in Pitt and Koufopoulos (2012), there are four criteria for strategy selection. The first criterion is strategy relevance for the issue identified. R&D will not only upgrade the knowledge and skill of Priory Group but will also help it in creating technologies that are difficult to imitate by its competitors. Therefore, it will be able to 12 survive in a highly competitive industry.
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Conclusion
Lastly, a brief conclusion to the first section has been provided by our experts here.
In conclusion, it can be stated that Priory operates in a highly uncertain and competitive industry. External environment analysis revealed political and economic instability in the UK and high environmental impact highlights challenges, whereas technological advancements and shifting preferences towards private healthcare highlights opportunities for Priory.
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Part B: Individual Reflection
The second part of this assignment demands the student to write a reflective remark on the experience of module learning in this course. Our experts provide personalized assignments to build on the student’s personal engagement and learning in classes.
In my MBA course, one of the modules I had was Strategic Management which was aimed at teaching business strategy. My selected area was MBA Healthcare. It helped me a lot in getting familiar with the healthcare industry of the UK and how two sectors, public and private healthcare operate in it. I had knowledge regarding some of the concepts I learnt in this module such as Porter’s five forces, internal and environment analysis, and organizational mission and vision statements as I have read about them previously. However, some concepts were new to me such as different types of strategy frameworks and strategic decision-making. After learning about different types of strategic frameworks like archetype, matrix and vector and companies using them, I performed an internet search to understand how different companies have adopted different strategies and how these benefit them (Koufopoulos and Pitt, 2012). I also became familiar with a systematic approach that organizations adopt in order to identify and resolve problems and therefore sustain their performance and competitive positioning. I particularly found strategy selection criteria extremely helpful and applied it in one of my assignments as well (Koufopoulos and Pitt, 2012).
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