Coursework notes
Q: Discuss the importance of Strategic Management to the future success of Doncaster Airport.
A report of no more than 1500 words, fully referenced and with a reference list provided that:
• is a well-structured and presented report that addresses the task, and
• demonstrates critical thinking and makes correct use of the case material
A Strategy is a long-term plan of action designed to achieve a particular goal.
Points to consider:
A definition and explanation of strategic planning:
• Levels of Strategy (where does Strategic Management fit?)
– Strategic
– Tactical
– Operational
• How is strategic planning different to long-term planning?
• How is strategic planning different to Tactical and Operational planning?
• What is the relationship between strategic planning and coordination and implementation of strategy?
• What is meant by Strategic Analysis and what tools are available to help with this process (e.g. PESTLE, SWOT and Porter’s Five Forces)
• The role of finance (stakeholders, e.g. banks and venture capital)
• What are Contingency Plans and why are they important?
What Strategic Management does:
1. Enables management to think through a goal in a logical and structured way and to set out the stages in achievement of business objectives
2. Enables management to plot progress against a plan
3. Ensures that both the resources needed to carry out the strategy and the time that they are required are identified
4. Is a way of making all employees aware of the business’s direction (communication of Mission and Vision)
5. An important document for discussion with potential investors, e.g. banks and venture capitalists
6. Important for short-term budgeting
Strategic Planning Process Overview (usually 3-5 Year time frame)
1. Develop Mission and Vision
2. Strategic Analysis
a. PESTLE
b. SWOT
c. Porter’s Five Forces
d. Stakeholder analysis (who are they; what is their influence and impact?)
3. Formulate Strategy
a. Determine Objectives (Short; Medium; Long term) – building blocks to achieving your Mission/Vision
b. Division of work within your organisation to achieve objectives (Tactical level)
c. Contingency Planning
i. Plan B if things go wrong
ii. Time and Resources (people, equipment, finance)
iii. Cost Benefit Analysis – bearing in mind the cost is the risk work taking?
4. Implementation and Evaluation
a. Tactical and Operational Management
b. Benchmarks and Targets set to achieve Objectives
c. Control and Monitoring systems implemented to evaluate progress and monitor deviation
5. Review
a. Evaluate the process to inform future strategic planning
b. What have we learned from it?
i. What went well?
ii. What didn’t work?
Long-term Planning
Over a period of years and aimed at the long-terms accomplishment of corporate goals
• Often based on the premise that the environment will remain stable
• For example: the long-term corporate goals of Peel Holdings, who own Doncaster Airport
Tactical and Operational Planning
Operations Management is responsible for achieving the various objectives set forth in the strategic plan. These objectives are achieved through day-to-day business operations that set short-term goals.
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