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Improvement Project of Science Construction CS

Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi...
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Why Strategic management is important?


Strategic management applies to organizations that have a monopoly over their industry and also organizations that have many similar competitors. For example, the United States Postal Service is the only entity authorized to deliver mail. However, they still need to employ strategy to combat the emergence of electronic mail and internet communication in general. This has taken the form of increased convenience features like tracking and "Informed Delivery" service that shows customers photo scans of what will be in their mailbox on any given day. Departing from their traditional model has proven to be a challenge, much like the FedEx example in Chapter 1 of Strategic Management (2012), because thieves have started to use the feature to steal credit cards (Ingram, 2019).
Strategic management is especially important for companies that have many similar competitors like McDonald's or Dell. Each company has competitors who offer the same product for similar prices. Companies have to use strategy to set themselves apart from the competition and attract customers to choose them over other options while having only  an incremental increase in benefits to the consumer. Advertising strategy, positioning, and ploys all help these companies achieve their short and long-term goals (Ketchen & Short, 2012). Therefore, the definition of strategic management, based on my own research, is the implementation of a course of action designed to overcome obstacles and achieve a specific goal.
References
Ingram, A. (2019, June 21). Thieves are now using USPS to steal credit cards. Retrieved June 22, 2019, from https://local12.com/news/local/thieves-are-now-using-usps-to-steal-credit-cards
Ketchen, D & Short, J. (2012). Strategic Management: Evaluation and Execution. Retrieved from: http://jsmith.cis.byuh.edu/books/strategic-management-evaluation-and-execution

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