Strategic Management
In this assignment, you will decide on a company's strategic intent, its mission, and the role of stakeholders in developing an organization's strategy.
You have learned that stakeholders have profound impact on the direction and the success of a company. Based on your readings and learning, complete the following tasks:
• Define the various classifications of stakeholders in a company and their role in strategic management decisions.
• Explain the connection between stakeholders and competitive advantage.
You learned that strategic intent is an extension of a company's organizational culture and the cornerstone of the firm. Based on your readings and learning, complete the following tasks:
• Discuss the importance of strategic intent and its impact on organizational success.
• Discuss why it is important and how an organization can move from intent to implementation.
Based on your readings and learning, complete the following tasks:
• Describe the attributes of an effective strategist.
• Explain how you would create and sell a strategic mission to stakeholders.
We cannot always control political, technological, economic, or cultural issues. Given that, answer the following questions:
• How often would you reevaluate your business strategy to maintain a competitive edge in the market place?
• What factors would you use to evaluate the need for change, and what tools would you use to make the changes?
• While performing an external environmental analysis, how important is it to use all four components and why?