Assignment:
PART 1
Question 1 Write in a 250 to 300 word post, answer the following questions: What is strategic planning? How does it differ from other forms of planning? Why is the strategic planning process important to entrepreneurs in starting a new venture? Respond to at least two of your classmates' postings.
Question 2. Write in a 250 to 300 word post, respond to the following: Provide a definition of entrepreneurial thinking. What role does entrepreneurial thinking play in strategic planning?
PART 2
Question 1 In planning, one component to explore is how an entrepreneurial organization's internal competencies help to achieve a strategic advantage in the marketplace. In a 250 to 300 word response, answer the following: What steps/actions would an entrepreneur take to determine whether the entrepreneurial venture has the appropriate internal competencies to achieve competitive advantage?
Question 2 Select a company planning, one component to explore is how an entrepreneurial organization's internal competencies help to achieve a strategic advantage in the marketplace. In a 250 to 300 word response, answer the following: What steps/actions would an entrepreneur take to determine whether the entrepreneurial venture has the appropriate internal competencies to achieve competitive advantage?
PART 3
Question 1. Please watch the Forbes video entitled Top Five Startup Tips from Spanx Billionaire Sara Blakely (2010). Sara Blakely is the youngest self-made female billionaire. She is creator of the ubiquitous women's shape ware brand, "Spanx." In this video she shares useful tips for new business owners who are strategizing how to successfully grow their business. Based on the content presented in the video, please answer the following:
• Sara outlines five tips for entrepreneurs. Please list these five tips.
• Sara weighs in on the importance of "visualizing where you are headed" as well as "embracing what you don't know." Please discuss:
o What she means by these concepts, and
o Whether these ideas are inherently conflicting. In other words, please discuss whether it is realistic for an entrepreneur to both understand where his or her business is trying to go, yet simultaneously learn and respond to new "things you don't know" along the way? Is she arguing one must be both steadfast and adaptable?
Question 2 Identify an entrepreneurial venture and in a 250-300 word response, answer the following questions: What circumstances might encourage the entrepreneur to enter into a new business area by acquisition? What different circumstances would encourage the same entrepreneur to merge with another company
PART 4
Question 1. Answer the following in a 250 to 300 word post: Discuss the four main elements needed to bring an innovative idea to the marketplace. What are then some of the difficulties facing successful innovation?
Question 2. Write in a 250 to 300 word post, answer the following questions: Are there different ethical risks an entrepreneur faces if entering a market in a developed country as compared to a market in an undeveloped country? Identify those ethical risks. What recommendations would you make to such an entrepreneur about ethical risks?
PART 5
Question 1. In your lifetime, do you think companies such as Coke, McDonald's, or Google will be overtaken by new, entrepreneurial companies? In a 200-250 word response, indicate why you selected your answer.
Question 2. Select an industry. In a 250 to 300 word response, describe the strategic turning points that caused change in the industry. Identify and describe how one company within the industry successfully reacted to the need for change.
Assignment 1
Strategy Change
In a four to five page paper, not including the title and reference pages, identify an organization that has changed its strategy (e.g., moving from differentiation to low cost) in the marketplace. Describe what circumstances prompted a change in strategy by the company and how appropriate the timing of the change was. Evaluate the results of the strategic changes.
You are required to use at least three scholarly sources to support your paper
Your paper must be formatted according to APA style
Assignment 2
Assume that you are an entrepreneur who has created a successful new venture. The venture is posed to expand domestically and internationally. In an eight- to ten-page paper, excluding title and reference pages, address the following:
• Assess which strategic leadership skills are needed to grow your entrepreneurial venture. How will you evaluate the leaders in your venture to determine if they have the strategic leadership skills needed?
• In planning to take the entrepreneurial venture to another country, describe the challenges and problems the venture may face. What guidelines will you provide for managers to deal with the challenges and problems?
• Describe the current level of entrepreneurial activities in the United States and evaluate the overall entrepreneurial atmosphere in the country. Your evaluation should include strategic moves that will be made to expand the venture domestically and internationally.
• Consider the following expansion models: internal venturing, acquisitions, mergers, etc. Explain which one would you recommend as the best strategic plan for expansion and why.
• Be sure to use at least five sources. Three of the sources must be scholarly
The Final Paper
• Must be eight to ten double-spaced pages in length (not including title and references pages) and formatted according to APA style
• Must include a separate title page with the following:
o Title of paper
o Student's name
o Course name and number
o Instructor's name
o Date submitted
• Must include an introductory paragraph with a succinct thesis statement.
• Must address the topic of the paper with critical thought.
• Must conclude with a restatement of the thesis and a concluding paragraph.
• Must use at least five resources in addition to the text, including three scholarly
• Must apply APA style
Textbook
Marcus, A. (2011). Management strategy: Achieving sustained competitive advantage (2nd ed.). New York: McGraw-Hill Irwin.