Introduction

It may be implied that managing strategy, operation and partnership is one of the most important things in business activity as without these activities it will be extremely difficult to manage the operation of a business. In addition to that, the module is also essential for a student as a student may learn the way to use the strategic decision to stimulate the business activities of a company. The previous assessment has discussed the role of strategic decisions and operations during the pandemic situation. Additionally, a student may also learn the importance of strategic decisions in maintaining the flow of the business in a company as the problems and issues of an organization such as Supply Chain Management issues have been discussed in the previous assessment. In addition to that, self-reflection will also play an important role as if a student attends the module then the student will definitely be benefitted to understand the impact of several strategic planning in the growth of an organization

Moreover, their self-reflection will identify the strengths and weaknesses of a student as the module will also be extremely useful for the professional growth of a student as this study also covers the importance of strategic decisions in the business activities of Walmart. Furthermore, there is an intimate relationship between vision and strategy as many entrepreneurs’ use developing strategies that are extremely essential for an impactful and sustainable future (Rothauer, 2018). Additionally, the reflection will also discuss the issue of a student which may hamper the professional growth of the student and in addition, the reflection will be also impactful to present an action plan which will help to mitigate the issues of a student.

Critical reflection

I also believed that the module was immensely essential for my growth in the professional arena as I have learned several things in the module. In addition to that, I have learned the way to manage the business activities of a company during the Covid-19 and the role of Human Resource Management (HRM) of a company to reduce the bad impact of the pandemic. I also observed that my self-awareness skills were extremely poor as after attending the module I learned the way to improve my self-awareness skill which is extremely impactful to take strategic decisions in a business. Moreover, self-awareness is directly connected with the challenges of leadership gaps as in the workplace soft skills are also needed which helps to achieve success in the workplace. In week 1, I have also learned about the importance of strategy making and the role of the strategic dimension in the workplace. I also gained knowledge about several theatres which are related to external threats such as industrial threat, international threat and organizational thereat (Refer to Appendix 1). I may stand that there is a huge importance of corporate level and business level storage in a business as it also helps to stimulate the flow of business activities during a pandemic.

I have to summarise from the SWOT analysis that my self-management skills were extremely poor at the beginning of this model while after the end of the module I have improved my self-management skills as I want to improve more in this segment to understand the effectiveness of strategic decision and partnership in an organization. Additionally, there are many benefits of competitive strategies as it helps to increase the customer perceived value while sometimes a gap is created to perceive the value of the customer and at this stage, an analytical model needs to be developed to mitigate this gap (Echchakoui, 2018). Moreover, in the week I have also learned about competitive advantage and industrial analysis although a successful strategy always helps to improve the competitive advantage of a company which helps to fulfil the organizational goals of that organization (Refer to Appendix 2). I have realized that there are many ways to gain a competitive advantage as the management of a company may use a cost leadership strategy to enhance the competitive advantage in the global market. Furthermore, it is required to be argued that there is a huge function of innovation in creating and enhancing the competitive advantage of a company (Distanon and Khongmalai, 2020).

I also think that during the pandemic it is difficult to gain a competitive advantage while if the HRM of a firm implements and makes an effective strategic decision then it may help the company in the global market. In addition to that, with the help of SWOT analysis, I have to develop my interpersonal skills such as time management skills, or else I will not be able to understand international business strategy. I have expected that I will learn more about strategic planning and decision, as this module is essential for me to understand the certain business activities of an organization. I may state that I have also learned about the importance of Supply Chain Management through this model as SCM has a greater role to enhance the competitive advantage of the company. An organization needs to give a clear and transparent strategy through impeding SCM as the strategy needs to be executed with detailed understanding or else it may harm the performance expectation of the company (Blanchard, 2021). This model has helped me a lot to identify the relation between the international business and local responsiveness while one of the biggest challenges of the SCM of an organization is to harmonize the management of the operation.

Table 1: An action plan for next steps

(Self-created)

I may state that it is extremely important for me to improve these skills for the better development of my professional life as it will also help me understand the importance of strategic planning in international business activities. According to me, improving self-awareness skills will help me smile a lot as it will help me to understand the importance of operating performance and strategy formulation. In addition to that, I need to develop time magnet skills while if I was unable to enhance my time mage skills then I will not be able to implement proper strategic planning for the growth of my professional life. I also realized that there is a huge role in managing innovation to improve the growth of the business activities of an organization while an improved strategic decision will help to implement the innovation in an organization. Along with that, self-management skills are also needed for the optimum growth of professional life while if I am unable to improve my managerial skills then it may hamper my job. I also think that the structural transformation and socio-economic factors impact the current business activities of an organization. In the modern era, the complexity in the organization is increasing day by day as if I am able to improve my problem-solving skills then it will help me to reduce the complexity in the workplace.

Conclusion

It may be derived that this model is extremely impactful to understand the strategic formulation in global business as it has been observed that many organizations use risk management theories to identify and resolve the upcoming risk of an organization. In addition to that, in this competitive era, an organization needs to perform well as it will help the companies to survive (Elbanna and Naguib, 2009). It has been mentioned that strategic planning of an organization has a greater impact on the performance as it will also help to control the variable of the business activities.  In addition to that, the decision magnet of a company plays a crucial role while the decision management of the company needs to be innovative to handle and manage the complexity of the organization.

It is required to be concluded that it is the duty of the HRM of the company to take early decisions or else it may hamper the business activities of the company which resulted in the loss of the company in the long term. The pricing strategy of an organization needs to be flexible while the company needs to fix the price of the products before analysing the environment of the market. Moreover, every organization in the world wants to earn more profit while the strategic planning of the company needs to be effective.

Reference

Blanchard, D., 2021. Supply chain management best practices. John Wiley & Sons.

Distanont, A. and Khongmalai, O., 2020. The role of innovation in creating a competitive advantage. Kasetsart Journal of Social Sciences, 41(1), pp.15-21.

Echchakoui, S., 2018. An analytical model that links customer-perceived value and competitive strategies. Journal of Marketing Analytics, 6(4), pp.138-149.

Elbanna, S. and Naguib, R., 2009. How much does performance matter in strategic decision making?. International Journal of Productivity and Performance Management.

Rothauer, D., 2018. Vision & Strategy. Birkhäuser.

Rubens, A., Schoenfeld, G.A., Schaffer, B.S. and Leah, J.S., 2018. Self-awareness and leadership: Developing an individual strategic professional development plan in an MBA leadership course. The International Journal of Management Education, 16(1), pp.1-13.

Tang, T., Vezzani, V. and Eriksson, V., 2020. Developing critical thinking, collective creativity skills and problem solving through playful design jams. Thinking Skills and Creativity, 37, p.100696.