Strategic Management and Competitive Advantage Concepts

Question: Discuss about the Strategic Management and Competitive Advantage Concepts. Answer: Introduction The Max Lionel Reality was founded in 2008 that aims to achieve the highest return for the clients and deliver them with the best experience. The project highlights the project brief and the scope that helps to understand the topic in details. The stakeholder analysis is performed to understand the roles and the responsibilities of the stakeholders. The project plan, the risk management and the budget of the company is prepared in the project. Project brief: The study discusses the stakeholder analysis that helps to understand the role of the different stakeholders in the company who helps to achieve the organisational goals and objectives. The communication plan, the project plan and the risk management plan of Max Lionel Reality will be discussed in order to provide the clients with the best possible services and outcomes. Project scope: The project aims to provide Max Lionel Reality with distinct plans that allow the managers to achieve the organisational goals within the allocated budget (Longenecker et al. 2013). The scope of the study is to provide Max Lionel Reality with a competitive advantage over its competitors. Stakeholder analysis: The stakeholders of the company are classified into internal and external stakeholders that include the managers of organisation, the clients, the suppliers, the investors and the stakeholders (Saunders and Lewis 2014). Stakeholders Stakeholders interest Impact level Managers Implement strategies High Clients Good service for all and using user friendly services High Suppliers No cuts in the services Medium Investors Generation of extra funding High Communication plan: Communicate what Purpose Frequency Communicate to Communication method Progress report Increase efficiency Monthly Shareholders Meeting Update schedule Mitigate risk Weekly Trainers Email Evaluation report Evaluate the organisational performance Monthly Sponsors/ Managers Meeting Roles and responsibilities: The different stakeholders of the company carry out a number of responsibilities. Max Lionel, the CEO of the company oversees the business, the strategic decisions, manages the risk and the financial transactions. The chief financial officer, Riz Mehra is responsible for preparing the financial statements and the budget. Kim Sweeney, Operations General Manager manages the coordination and the sponsoring projects that affect the organisation. The human resource manager is accountable for the productive capacity and the welfare of the individuals in the organisation (Robbins Coulter 2012). The residential agents activities are managed by the Manager Residential Realty. The Manager Commercial Realty manages the commercial realty. Manager Investments maintains all aspects of investment realty within the organisation that helps to determine that investment from obligations to residential and commercial clients are separated. Project plan: Objectives Performance measures Task Time duration Raise the organisational profile and improve client satisfaction performance Number of clients complaints Number of customers with positive reviews Analyse the training needs of the agents Conduct surveys 3 months Increase revenue Total income Agent income Investment income Investigate resourcing needs Fulfil resourcing needs as per policies 3 months Reduce direct and indirect operational cost General ledger accounts Financial statements Renegotiate with suppliers. Research potential new suppliers 2 months Risk management plan: Risk Intensity Measures Time duration Failure to recruit qualified real estate agents High Reviewing and updating the equipment monitoring and maintaining IT security 2 months Inadequate insurance cover High Periodic reviews of the agent performance 3 months Loss of knowledge and capability through departing staff High Developing ethical charter that includes principles for the agents to follow 1 month Low level of staff engagement and morale High Developing of HR related policies 2 months Budget: As per the Max Lionel Realty 20132014 budget, the net income before the payment of the tax earned by the company was $1,592,373. The amount reflects that the company earns a profit level that ensures sustainability of the organisation in the competitive market (Barney and Hesterly 2015). Thus, it can be inferred that the budget of the next financial year would be $3,272,701. Particulars Amount Wages, salaries and on costs $1,810,539 Consultancy fees $83,000 Communication expenses $62,235 Staff travel, transport and Accommodation. $68,670 Premises expenses $283,000 Capital expenditure $241,500 Depreciation and amortisation $193,503 Office supplies $62,187 Professional fees $85,146 Total budget $2,889,780 References Barney, J.B. and Hesterly, W., 2015. Strategic management and competitive advantage concepts and cases. Pearson. Longenecker, J.G., Petty, J., Palich, L.E. and Hoy, F., 2013.Small business management. Nelson Education. Robbins, S., and Coulter, M. 2012. Management. Saunders, M. N., and Lewis, P. 2014. Doing research in business and management: An essential guide to planning your project. Pearson Higher Ed.