KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY
STRATEGIC MANAGEMENT AND POLICY
YOU HAVE RECENTLY BEEN EMPLOYED AS A BUSINESS DEVELOPMENT
MANAGER IN A REPUTABLE COMPANY IN GHANA. DUE TO INTENSE
COMPETITION WITHIN THE BUSINESS ENVIRONMENT AND THE CHANGING
TRENDS IN THE CONSUMER TASTES AND PREFERENCES, YOU HAVE DECIDED TO
DEVELOP A STRATEGY FOR THE FIRM. WITH YOUR KNOWLEDGE IN STRATEGIC
MANAGEMENT PROCESS, DISCUSS THE STEPS YOU WILL FOLLOW TO DEVELOP
THE STRATEGY.
By:
Obed Kwabla Ametefe
PG4551620
MSC STRATEGIC MANAGEMENT AND LEADERSHIP
Year: One
LECTURER: PROF. AHMED AGYAPONG
6TH MARCH, 2021
1
,Table of Contents
1.0 Introduction..........................................................................................................................3
2.0 Levels of Strategy Within an Organisation..........................................................................5
2.1 Corporate Strategy............................................................................................................5
2.2 Business Strategy .............................................................................................................6
2.3 Functional Strategy...........................................................................................................6
2.4 Operational Strategy.........................................................................................................7
3.0 Brief Profile of Melcom Ghana Ltd.....................................................................................7
4.0 Steps to Consider in Developing Strategy............................................................................8
4.1 Environmental Scanning...................................................................................................9
4.1.1 Identify Your Strategic Position..............................................................................10
4.1.2 Conduct Competitive Analysis................................................................................12
4.2 Formulate a Strategic Plan..............................................................................................17
4.2.1 Market Penetration...................................................................................................18
4.2.2 Product Development...............................................................................................18
2
, 4.2.3 Market Development................................................................................................19
4.2.4 Diversification..........................................................................................................19
4.3 Strategy Formulation......................................................................................................19
4.3.1 Steps to Follow in the Formulation Process............................................................20
4.4 Strategy Implementation.................................................................................................23
5.0 Strategy Evaluation............................................................................................................24
6.0 Conclusion..........................................................................................................................24
7.0 REFE RENCES..................................................................................................................25
1.0 Introduction
Every business operates and is affected by the external environments and technological
changes (Min, Kim, and Vonortas, 2020). As such, there is the increasing need for any well-
meaning organisation to develop strategies that can stand the test of time and help in
achieving competitive advantage and excellence. This is because competitive advantage
makes a firm stay relevant in today’s constantly changing competitive landscape which
requires the capacity of the firm to continually learn, evolve and grow into a better and more
valuable version of what the firm does or used to do. Strategy is about creating and delivering
the future (Warren, 2008). It is about leading the organization to a future in which the
organisation is able to compete more effectively and to achieve prosperity and sustainability
3
STRATEGIC MANAGEMENT AND POLICY
YOU HAVE RECENTLY BEEN EMPLOYED AS A BUSINESS DEVELOPMENT
MANAGER IN A REPUTABLE COMPANY IN GHANA. DUE TO INTENSE
COMPETITION WITHIN THE BUSINESS ENVIRONMENT AND THE CHANGING
TRENDS IN THE CONSUMER TASTES AND PREFERENCES, YOU HAVE DECIDED TO
DEVELOP A STRATEGY FOR THE FIRM. WITH YOUR KNOWLEDGE IN STRATEGIC
MANAGEMENT PROCESS, DISCUSS THE STEPS YOU WILL FOLLOW TO DEVELOP
THE STRATEGY.
By:
Obed Kwabla Ametefe
PG4551620
MSC STRATEGIC MANAGEMENT AND LEADERSHIP
Year: One
LECTURER: PROF. AHMED AGYAPONG
6TH MARCH, 2021
1
,Table of Contents
1.0 Introduction..........................................................................................................................3
2.0 Levels of Strategy Within an Organisation..........................................................................5
2.1 Corporate Strategy............................................................................................................5
2.2 Business Strategy .............................................................................................................6
2.3 Functional Strategy...........................................................................................................6
2.4 Operational Strategy.........................................................................................................7
3.0 Brief Profile of Melcom Ghana Ltd.....................................................................................7
4.0 Steps to Consider in Developing Strategy............................................................................8
4.1 Environmental Scanning...................................................................................................9
4.1.1 Identify Your Strategic Position..............................................................................10
4.1.2 Conduct Competitive Analysis................................................................................12
4.2 Formulate a Strategic Plan..............................................................................................17
4.2.1 Market Penetration...................................................................................................18
4.2.2 Product Development...............................................................................................18
2
, 4.2.3 Market Development................................................................................................19
4.2.4 Diversification..........................................................................................................19
4.3 Strategy Formulation......................................................................................................19
4.3.1 Steps to Follow in the Formulation Process............................................................20
4.4 Strategy Implementation.................................................................................................23
5.0 Strategy Evaluation............................................................................................................24
6.0 Conclusion..........................................................................................................................24
7.0 REFE RENCES..................................................................................................................25
1.0 Introduction
Every business operates and is affected by the external environments and technological
changes (Min, Kim, and Vonortas, 2020). As such, there is the increasing need for any well-
meaning organisation to develop strategies that can stand the test of time and help in
achieving competitive advantage and excellence. This is because competitive advantage
makes a firm stay relevant in today’s constantly changing competitive landscape which
requires the capacity of the firm to continually learn, evolve and grow into a better and more
valuable version of what the firm does or used to do. Strategy is about creating and delivering
the future (Warren, 2008). It is about leading the organization to a future in which the
organisation is able to compete more effectively and to achieve prosperity and sustainability
3
