ASSIGNMENT: THE IMPORTANCE OFSTRATEGIC MANAGEMENT: A CASESTUDY OF ZARAAIM OF RESEARCHThe major aim of this research study is to explore the importance of strategic management inthe case of Zara UK.OBJECTIVES OF RESEARCH• To explore various dimensions of strategic management and its benefits to theorganization.• To identify the challenges in strategic management.• To examine the significance and role of strategic management in Zara UK.RATIONALE FOR STUDYStrategic management is the process of devising and implementation of organizationalobjectives and initiatives with the consideration of resources and business environment inwhich the organization operates. The strategic management provides apt direction to theorganization and develop competitiveness by which the organization could reach into definitebusiness height (Hanasini Athapaththu, 2016). Wheelen and Hunger’s (2006) definesstrategic management as the set of decisions and activities of the management that regulatesthe organizational performance. It includes the strategy formation, environmental analysis,strategic implementation, evaluation as well as control which are utmost requirement for theorganizational effectiveness. Among the various aspect of organization, the rationale forchoosing the strategic management is its coverage of broad arena and the role strategicmanagement play in the growth and development of the organization. As strategicmanagement cover wide area by which it will be interesting as well as challenging to conductresearch on this broad subject matter which is one of prime reason for the researcher tochoose present topic. Various studies and research has been conducted in regards to thestrategic management shows that strategic management is the crucial in any organization. Asper the journal of James Whelan and James D. Sisson (1993), the organization excellencycould be obtained by the formulation and effective implementation of those strategy which isthe core function of strategy management. Jones et al. (1981) on base of their study arguedthat strategic management is one of the major area of management which is the set ofmanagement activities that help the managers to maintain organization consistency to thebusiness environment as well directs correct way for development. Similarly, Bowman et al.(2002) sates that with the strategic management organization emphasis on the sustainingcompetitive advantage. These studies shows that strategic management are the significantaspect of the organization which shouldn’t be ignored. Conducting research in major aspectof business management would be an exploratory venture in the field of businessmanagement. Although, there are many studies in the field of strategic management, thisstudy will endeavour to fill the gap of the previous study and will explore a completely newdimension the study.RESEARCH APPROACH OR METHODOLOGY PROPOSEDThis study will uphold the positivism research philosophy as it is helps the conduction ofresearch on the base of factual findings with the empirical study. For exploring thesignificance of strategic management, quantitative research method will be used in this study.The prime reason for choosing quantitative research method is that quantitative method helpsto quantify the statistical data and allow the generalization of result obtained from samplepopulation by which the findings derived from this study can be generalized. In addition,quantitative method allow the inclusion of survey method. Likewise, in this study bothprimary and secondary sources of data will be collected. Secondary data will be collected bythe extensive literature review from various research paper, journals, articles, books, reportsand other web sources in relevant to the strategic management and survey method will beused for collection of primary data. This study will employed the survey questionnairetechnique as it is one of the suitable method for collection of wide range of information fromlarge number of respondent in a short period of time. A questionnaire survey will be collectedamong the 40 managers of Zara outlets in UK. The participants for the survey will be selectedby the use of convenience non-probability sampling techniques in which sampling is done onthe basis of convenience and reach of the researcher. Moreover, ethical consideration will bemaintained throughout this research study.REFERENCE LISTHanasini Athapaththu, H.K.S. (2016) An Overview of Strategic Management: An Analysis ofthe Concepts and the Importance of Strategic Management. International Journal ofScientific and Research Publications, 6 (2).Hijji, K.Z. Al (2014) Strategic Management Model for Academic Libraries. Procedia – Socialand Behavioral Sciences, 147, pp.9–15.Huiru, D. (2011) THE IMPORTANCE OF STRATEGIC MANAGEMENT The importanceof strategic management, Case study of H&M Type of project Thesis.Kamasak, R., Yavuz, M., Karagulle, A.O. & Agca, T. (2016) Importance of StrategicFlexibility on the Knowledge and Innovation Relationship: An Emerging Market Study.Procedia – Social and Behavioral Sciences, 229, pp.126–132.Oboh, C.S. & Ajibolade, S.O. (2017) Strategic management accounting and decision making:A survey of the Nigerian Banks. Future Business Journal, 3 (2), pp.119–137.Pamfilie, R., (Draghici), A.J.P. & Draghici, M. (2012) The Importance of Leadership inDriving a Strategic Lean Six Sigma Management. Procedia – Social and BehavioralSciences, 58, pp.187–196.Şentürk, F.K. (2012) A Study to Determine the Usage of Strategic Management Tools in theHotel Industry. Procedia – Social and Behavioral Sciences, 58, pp.11–18.Sołoducho-Pelc, L. (2015) Searching for Opportunities for Development and Innovations inthe Strategic Management Process. Procedia – Social and Behavioral Sciences, 210,pp.77–86.Striteska, M. & Jelinkova, L. (2015) Strategic Performance Management with Focus on theCustomer. Procedia – Social and Behavioral Sciences, 210, pp.66–76.Zafar, F., Babar, S. & Abbas, H. (2013) THE ART OF STRATEGIC MANAGEMENT-AKEY TO SUCCESS IN CORPORATE SECTOR. European Journal of Research andReflection in Management Sciences, 1 (1).
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