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CMI Assignment Help > Blog > CMI Level 7 > CMI 704 Assignment Example

CMI 704 Assignment Example

  • March 7, 2025
  • Posted by: Scarlett
  • Category: CMI Level 7
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CMI 704 Assignment Example

Assessment Question

Learning Outcome 1 Understand how to develop strategy

AC 1.1 Critique the factors which drive the development of organisational strategy

Creating an effective organizational strategy is key to business success. It starts with understanding the unique factors that influence it. External factors like economic changes, new technology, customer demands, and social trends play a big role in shaping strategy. These factors affect product design, marketing, and operations.

At the same time, assessing internal strengths is just as important. This includes reviewing financial resources, employee skills, facilities, and workforce capacity to ensure they align with external goals. A company’s mission and objectives should also be considered to provide clear direction for future planning.

To stay competitive, businesses must be open to change and continuously explore their strengths when setting strategic goals. AC 1.2 Critically appraise approaches for the development of strategy Carefully evaluating different approaches to strategy development is crucial to ensure they are practical, achievable, and aligned with the organization’s goals. A structured approach involves researching the external environment, analyzing the industry, assessing internal strengths, generating strategic options, selecting the best choice, and planning implementation. This process takes time and relies on

ies on managers making informed decisions. Strategic options should be realistic, with clear objectives that fit within available resources. Regular monitoring and feedback are essential to track progress and make adjustments when needed. Since strategy development is an ongoing process, continuous evaluation is key to ensuring successful execution. AC 1.3 Discuss the challenges of developing and leading organisational strategy Developing and leading an organization’s strategy is a complex task that requires a comprehensive understanding of the market, budgeting, resource allocation, and effective strategies to achieve success. Strategic leaders must anticipate future challenges, such as economic downturns or industry shifts, to respond appropriately. They also need to articulate a clear vision and direction, inspiring their teams to embrace the mission despite potential internal resistance. Managing stakeholder expectations is another critical challenge, as leaders must balance company objectives with the interests of those invested in the organization’s well-being. All these factors demand significant effort and insight from leaders aiming to develop effective organizational strategies. Frameworks like the McKinsey 7S Framework can aid in this process by analyzing seven interdependent elements—strategy, structure, systems, shared values, skills, style, and staff—to ensure alignment and effectiveness within the organization. Additionally, in...

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