A successful strategic management essay employs rigorous theoretical reasoning in order to extract necessary information from a given economic environment and use that information to maximal effect.
Strategic management is geared to locating the most efficient means of achieving growth and sustainability in the business sector. As a result, a quality strategic management essay will evidence an understanding of how to steer a company toward such success, plotting a specific plan of action – or strategy – to realise the intended outcome.
On paper and in practice, business success requires capability in the many diverse areas which play a role in economic relations. Hence a strategic management essay will likely draw on insights from many fields, including, among others, marketing, economics, econometrics, statistical theory, management theory, as well as specific knowledge related to the sector in question.
Remember, at base, strategic management is concerned with strategy. Accordingly, the various elements of research summoned must have an immediate application to an overall plan for market success. This means your essay will offer convincing, reasoned arguments for any and all provisions it suggests. Nothing will be foggy or conjectural; all will be logical and evidence-based. You therefore need to be systematic in your thought, giving your essay a cogent through-line where one focused approach is always contained within the various tactical components of the overall strategy.
A compelling managerial strategy, then, will lay out a lucid and realisable course of action for processes that enable a business to advance its position in the relevant market.
Your essay should therefore detail processes that allow for maximum preparedness for all outcomes. Good strategy covers all potential bases; this works to minimise risk. Your essay needs to exhibit a plan for risk reduction as well as profit maximisation. Because your essay has a direct operational function, its purpose is clear. Thus you want to be unambiguous in prose; this makes your strategy easier to implement.
A good strategy encompasses a comprehensive vision for advancement that is understood by all relevant parties. Because the world of business offers numerous avenues of approach, you want to undertake wide-ranging research; this will help you to alight on the most effective strategy for your given environment.
A good way of establishing the theoretical validity of a suggested strategy is by analogy. You could adduce an example of a strategy that was effective in an economic environment similar to the one toward which your essay is directed; this could serve as evidence for the practical benefits of a suggested position.
Finding precursor examples will be important for your essay. Historical case studies make for tangible resources. These, in turn, are best suited to extrapolation – to forecasting results based on previous events – because they offer the most plausible estimation of future outcomes. You need your essay to be solidly backed-up with empirical evidence and reliable data. The less you leave to speculation the more convincing your essay will be. Indeed, a first-class strategic management essay will not be speculative but, rather, a collection of logical assessments based on hard evidence.
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