BB320 Business Strategy
|Title Page, Abstract and Introduction||10%|
|Main Body (3 sections)||50%|
|References and Appendices||10%|
|Writing, Grammar and Presentation||10%|
You are required to write a review of the literature on business strategy. Select one of the following topics for your literature review:
You are to submit your report via turnitin on moodle, by close of business (COB) on the Friday of Week Six (6).
LITERATURE REVIEW GUIDELINES
A literature review is a critical analysis of published sources, or literature, on a particular topic and is a method of identifying, evaluating and interpreting the work produced by researchers, and often involves a critical appraisal of a piece of work.
Your literature review should describe, compare, contrast and evaluate the major theories, arguments, themes, methodologies, approaches and controversies in the scholarly literature on the topic of business strategy.
And the literature review has the following functions:
Components of a Literature Review:
Your literature review should consist of the following sections:
Presentation of a Literature Review:
Introduction (250 words)
FACTORS INFLUENCING STRATEGY IMPLEMENTATION
The particular research has enhanced brief evaluation of factors affecting strategic implementation. In the particular study, the researcher has tried to analyze the different issues of failure of strategies in the market that declines business and product performances. In relation to elaborate research issue, researcher inputted different literature assessment to observe the forces that are usually missed by entities that assist in putting a successful business strategy implementation to achieve specified goals and objectives. In relation to evaluating the proper implication of research, the researcher has prepared different literature review tables, that has helped to track specific articles and journals to support the theoretical contents engaged in the literature section. On other side, the researcher has also used a reliable flow chart that assisted process for choosing, evaluating, extracting and imputing information and ideas from different journals and articles on a particular research topic.
The implementation of strategies includes different tactics such as participation, planning, intervention and persuasion that helps to develop the strategies to the app in a more dignified manner. There are different themes there observed to be factors that influence strategic implementation are resource availability, communication, operational planning and control and feedback
The commitment and organizational structure are other forces that influence the strategic implementation of entities in the market. A transitional commitment includes befits, goal and target setting for the introduction of new changes that help to make the growth of the business. In business strategy, there are several theories, models, concepts and observation that are designed, planned and implemented by entities to enhance performance of products and services From the literature, it has evacuated that elaborating on strengths, weaknesses, threats and opportunist, organization able o develop basic activities to improve their positioning in the market. In concern to evaluate competitive advantage, the business firms develop porter’s five force model that increase learning on the competitive averment for specific product or services.
The purpose of the particular research study is to evaluate and analyze issues and impact of factors influencing strategy implementation in business organization (Al Shobaki, Amuna & Naser 2017). In the context of the application of strategy implementation for a product or service, it is important to vault different determinants that define and affects business strategy in the business marketplace. The strategy implementation is a process that is used for achieving the goals and objectives of business in the market. The rationale for choosing the topic is to evaluate issues related to business strategy failures that are witnessed the loss of product position or product launch in the market (Barreto & Drummond, 2017).
|Database & time limit||Language ||Search Date||Search terms||Number of|
|2016 and onwards articles from Google Scholar||In English||resource availability, communication, operational planning and control and feedback||45||35||20||15|
In relation to carrying out proper literature analyses, the literature review flowchart has been evaluated and designed as follows:
|Reference||Title||Study Aims & Objectives||Research Design||Sample||Data c collection methods||Findings are relevant to the review.|
|Chen, J., Li, C., Huang,the T., & Yang, X. (2017).||Global stabilisation of memristor-based fractional-order neural networks with delay via output-feedback control||The aim is to the presentation of stabilization of memories tor-based fractional-order neural networks to reduce delay in outputs||Secondary research||random||Descriptive statistics||Different issues reflect a lot of outputs. However, the Lyapunov function and comparison principles can solve issues related to output problems|
|Al Shobaki, M. J., Amuna, Y. M. A., & Naser, S. S. A. (2017).||Strategic and Operational Planning As Approach for Crises Management Field Study on UNRWA||Aim to evaluate operational and strategic management approaches of the business||Primary research||random||Survey data collection||There are rationales between the implementation of strategic planning and operational planning that need proper coordination of activities.|
The literature review includes different themes such as resource availability, communication, operational planning and control and feedback, which has helped to develop a critical summary of literature table that has presented as following:
Resource availability and Strategic Implementation
Hitt Xu & Carnes (2016) proposed a paper which concluded the Resource-based theoretical approach to operational management. This factor has been researched about in an in-depth manner which provides application and development in strategic planning. The authors tried to contemplate the phenomena by evaluating the research journals over a span of six years. The findings suggested that richness to the efficiency of the organization can be achieved after the implemented of research-based theoretical approach. According to the works of Lemarleni et al. (2017), the allocation and attainment of the resource are required in all field even in the maintenance of law and regulation. This paper provides the documents that influence of resource impacts the services provided by the police department of Kenya. The sources of the resources obtained are generally in the form of Information, Communication and Technology (ICT). The findings suggested that the headquarters and the vigilance houses gained positive outcome and higher security with the use of automobiles, phones etc. another study conducted by the Ross et al. (2016) showed that the utility of the resource availability is not limited to any specific fields. The health industry has benefitted from the availability of the resources. The e-health services have much since improved based on the efficiency of the quality of care provided to the patients and the reduction of the costs. This form of a collection of patient data had been derived from the Consolidated Framework for Implementation Research (CFIR) with regards to the categorization and the meta-ethnographic considerations. The findings suggested that the planning implementation in the e-health systems and provided useful guidance systems for the empirical test. A similar paper on the pharmaceutical industry authored by Obeidat et al. (2017) stated that the operational processes of the affected the efficacy of the Middle Eastern pharmaceutical countries. The authors studied the communication, resource availability, operational planning and feedback along with controlling processes. A survey was conducted which included 330 questionnaires, from employees, managers and which had 78% responses. The findings suggested based on the analysis of the responses collected from the participants depicted that the resource availability to maintain the efficiency was the most important driving force among all four variables in the strategic planning.
Communication and Strategic Implementation
According to the research provided to the Obeidat et al. (2017) the study conducted among the pharmaceutical companies in the Middle East in the form of a questionnaire about the four variable of operational management. According to the research finding communication is a big influencer in the business especially in the operational management where the employees need to understand the roles and responsibilities to provide optimum service. Another study showed by Kernbach et al. (2015) showed that the creation of awareness regarding the strategic plan within the workforce is very crucial in the different hierarchies of the organization. The employees must be treated audience, and the scorecards must be maintained at all times. The encouragement of participation can also be provided to the employees for better efficiency according to the opinion of Mayfield et al. (2015). The variable that needs to be considered when it comes to communicating with the employees is the target audience, which is being addressed by the communicator. The specification and sedimentation of the audience groups will be provided with the message according to a study by Jamil & Fathi (2016) at a construction site in Malaysia. The proper explanation of the roles and responsibilities of the business purpose of communication is needed to be addressed clearly. The process will allow the leader to engage the stakeholders for a particular change and gain confidence. The effectiveness of the communication is dependent on the appropriation of the time and place. The direction and the instruction may have to repeat for the sake of clarity among the employees.
The operational planning includes the procedure of enhancing operational activities of the business about meet goals and objective of business. In the operational planning, business processes, orientation, guideline of activates and resource availability are planned as per blueprint assessments (Wolf & Floyd, 2017). The operational planning is one of the basic sets of implementation of the strategic plan as per the goals and objectives targeted by a business entity for future developments. In the operational planning, the basic purpose of the particular strategic term is to provide an approach of the outline of the line of activities that require to be practised in relation to achieving the desired goals and objectives of the entity. In the operational, strategic planning, it covers different areas of business such as financial, operational, administration and managerial attributes. Sehr & Bitmead (2017) motioned that the course of implementation of the operational planning of business, there are different levels of plans that require to be adopted. In the strategic, operational planning, organizations designees the mission and vision for achieving organizational goals in the near future. This phase is usually executed b top-level management of business entities. In the second phase, a tactical plan is executed, in which specific activities and tasks are allocated to the middle level management to meet targets on time frame. The last phase of operational planning includes a lower level strategic plan that states specific targets to employees settled by middle and top-level management of organization to achieve the specified goals (Klein & Robinson, 2018).
Control and feedback
Bouchard et al., (2017) stated that control and feedback provide information on business activities that are involved in meeting certain goals are working efficiently and applied effectively. This is termed as one of the basic factors that influences the strategy implementation in the business organization. The involvement of control and feedback approach helps management of entities to evaluate practices and activities that involved has the ability to give desired results or outcomes at the end of the strategic implementation (Chen, Huang & Yang, 2017). On the other side, the feedbacks play a vital role in observing the success and impact of strategies emerged by the firm on the product or different organizational goal. The development of feedback helps entities and management to investigate about the success and failure of particular strategies in course of achieving reliable goals of the organization. The 360 degree feedback model is one of the models that are applied by management in relation to evaluate the implementation of business strategy in the market. In the 360 degree feedback, the organizational performances are evaluated thou comments of employees, subordinates, supervises, managers and other individuals working directly with the firm (Ando, Takehara & Kobayashi, 2017). It certainly helps management to evaluate strengths and loopholes of a strategy that can be further developed for better achievement and improvements.
The particular study has enhanced basic evaluation of factors that influence business strategy implementation. In the particular research report, the researcher has engaged literature concept to enhance basic attributes, forces and determents that matter in the course of development of a business strategy in the market. The evaluation of business strategies is necessary for organizations before application and implementation. In the process of evaluation, it helps to assess the impact and possibility of success or failure of selected strategy specific product or services. The internal consistency helps to evaluate the targets, media selection and segmentation of the product. On the other side, the external environment evaluation facilitates competition, trends and customer requirements to put the product in the right place and right market. It has certainly helped the business entities to evaluate and analyze different aspects of theories, models and attributes of business strategy. The research has tried to meet the rationale of different issues related to failure and improper marketing strategies that include huge loss of the business market. In the analysis of literature, there are forces such as communication, decision making, commitment, the relationship between departments and strategic foundations that have included in the business organization. It has stated that these are basic forces that usually missed out by business entities, that might result in the failure or unsuccessful of strategies and developed and implemented by business entities.
Appendix 1. Summary Table for Literature Review
|Reference||Research Question/ Purpose||Search Strategy/ Inclusion/ Exclusion Criteria||Search Terms||Detail of Literature/Study Selection||Quality Assessment (where applicable)||Data Synthesis (where applicable)||Findings/ Conclusions|
|(Hitt Xu & Carnes, 2016)||To understand the resource-based theoretical approach in the development of strategic implementation.||An exceptional development of RBT, conceptual distinction, rigour and robustness of the methods of research||Resource-based theory Operations management Strategic management||Resource-based theory development, Complementarily of RBT and OM foci, Operations strategy, Performance management, Product/service innovation||High quality||Secondary research||Richness in the operations can be provided with the implementation of the RBT strategies.|
|(Lemarleni et al., 2017)||To study the effects of resource allocation in the maintenance of security in Kenya Police||The target population was the police force in Kenya, middle management, and stratified sampling.||resource allocation, strategy implementation, Kenya Police Service, Nairobi County||McKinsey 7S Framework, The Resource-Based View Theory,||High quality||Secondary research||The findings of the research show that significant positive correlation was obtained from dependent and predictor variables|
Appendix 2. Summary Table for Non-Research Literature (e.g. Policy Documents) included in Review
|Reference||Title||Type of literature||Peer- reviewed||Purpose||Content||Quality||Credibility||Recommendations||Reference|
|(Obeidat et al., 2017)||Factors affecting strategy implementation: A case study of pharmaceutical companies in the middle east|
Jordan, Knowledge management, Strategic management, Middle East, Pharmaceutical companies, Strategic implementation
|Yes||To determine the operational factors that influence strategic management in the maintenance of strategic implementation.||The importance of resource availability is most important over other variables of strategic implementation of planning.||High quality||Pharmaceutical company efficiency||None||(Obeidat et al., 2017)|
|(Kernbach et al., 2015)||The use of visualization in the communication of business strategies: An experimental evaluation||strategy visualization, strategy communication, visual metaphor, temporal diagram, bulleted list||No||To determine whether visualization was better the communication strategies of the instruction was useful in strategic implementation.||The authors researched by showing a presentation to the managers about the company data.||High quality||University of St. Gallen, St. Gallen, Switzerland||None||(Kernbach et al., 2015)|
|(Mayfield et al., 2015)||Going one's way: drivers in developing business models for sustainability||business models; business models for sustainability; sustainability; leadership; value creation||No||The purpose of the study observed the importance of business models for improving business sustainability.||In the paper, it describes, factors, functions and procedure of business models to enhance the business sustainability.||High quality||Institute of Systems Sciences, Innovation and Sustainability Research||None||(Mayfield et al., 2015)|