1.1An overview of Zhujiang Iron and Steel Company (ZISCo) and Gulf Craft Centre Maldives1 1.2Rationale1
Strategic management defined and its process2
1.4Triple loop learning3
2Process of strategic management followed at Zhujiang Iron and Steel Company (ZISCo)3 2.1Strategic factors3
2.5Gap in strategy formulation7
2.6Strategic options available for ZISCo7
2.7Implementation of gap in ZISCo8
2.8Paradigm of an operation8
2.9The change in the paradigm (new recipe)8
2.10Recommendation and justification9
2.11Use of balance scorecard at ZISCo10
3Application to Gulf Craft Service Centre Maldives Pvt. Ltd11 3.1Critical issues at Gulf Craft Centre Maldives11
3.2Critical comparison of ZISCo with Gulf Craft Centre Maldives11 3.3Recommendations and justifications13
3.4Evaluation of performance of GCCM.14
The main objective of this assignment is to critically evaluate the process of strategic management of Zhujiang Iron and Steel Company and organisation of my own choice. For this assignment Gulf Craft Centre Maldives has been taken.
1 An overview of Zhujiang Iron and Steel Company (ZISCo) and Gulf Craft Centre Maldives
Zhujiang Iron and Steel Company (ZISCo) - a Chinese state-owned enterprise is a subsidiary of Guagzhou Iron and Steel Company (ZISCo). The subsidiary was established in 1997. It is a steel manufacturer and produces a range of steel sheets and plates used in manufacturing containers, industry-used gas bottles, steel pipes, white good appliances and automobiles. The organisation which is chosen for critical comparison is Gulf Craft Centre Maldives. Gulf Craft Service Centre was open in Maldives on 2nd of August 2001 as a subsidiary of UAE based Gulf Craft Inc and as quickly built itself an enviable reputation for the production of high-quality fibreglass speed boats as well as the re-fit, repair and maintenance of a wide diversity of vessels. However today they are facing tough competition from vessel exporter in Maldives (www.gulfcraftinc.com).
Traditionally organisations have been using intended strategy to match the organisation with the environment. An intended strategy is planned and deliberate. According to Parthasarthy (1992) intended strategy is the set of intentional acts that is contemplated and planned to accomplish a goal. An intended strategy is also sometimes called a deliberate strategy. The rationale behind this type of formulation of strategy was the environment was very static in those days. However, nowadays most of the organisations are using emergent strategy to match with the environment. Emergent strategy can be a plan, posture, position or patterm that will yield performance in the long term that satisfies the needs of all stakeholders (S, Kotha, 1995). The rationale behind it was the environment that business operate is more complex and dynamic today (Refer appendices 2 and 13).
Strategic management defined and its process
Strategic management is the superordinates and the continuous organizational process for maintaining and improving the firm’s performance by managing, that is, enabling, formulating, and realizing, its strategies (Farjoun, 2002). The process of strategic management consist three broad steps. (1)Strategic analysis where the elements of external environment, industry, the strategic capability of the organisation and the expectations of the stakeholders are analysed. (2) Strategy formulation where corporate, business and operational level strategies are formulated. (3) Strategy implementation where strategies are turned into action. The entire assignment is prepared by using the...