Strategic Management Essay Example | Topics and Well Written Essays - 3000 words - 6

Strategic Management - Essay Example The main strategy of the company was to keep secret the principal ingredient of the Drambuie production and keep to the line with the Scottish heritage. The management of the enterprise was always performed by the family members. Theoretical marketing and strategic management state, that management of the company should be highly qualified and have enough expertise in the field of management and strategic development. The lack of skill in managing the company, especially in the case with the Malcolm and Duncan MacKinnon, who have become the heads of management after the middle of 1970s, facing the inexorable decline in sales as well as lack of strategy. It is no doubt, that their activity in expanding the general portfolio of the expensive brands was a good step, but in the view of the general sales decline it was necessary to pay more attention to the brands and marks, which are more popular and were affordable by the average consumer. Traditionally the company was trying to target average and higher population, offering brands which were both affordable and high-quality. Through the decline of sales it would have been more profitable to develop the strategy of attracting the average consumer back to the brands through refreshing the product, making it new. One of the key principles of the strategic management is making the product in the line with the requirements of time and consumers. This principle has been forgotten by the previous management of Drambuie and it was the factor which made the company understand the necessity of hiring new experienced CEO.