Order Instruction Please answer the following question:
Question # 1: Current Global Event
Please write one articles from a legitimate business publication or mass market media source concerning a global event and its impact on geopolitical outlooks, business climate or strategic planning. Then provide your opinion on the material and its effects on our world and lives.
Question # 2:
This week we are looking at external data and internal data…the foundation of a SWOT. I am curious what data sources are available to your organization in order to perform an environmental analysis? How reliable is this data?
Question # 3:
How has your organization’s primary competitor taken advantage of favorable conditions in its internal and external environment? Has this created competitive advantage for the competitor? Why or why not?
Question # 4:
What are some of the preliminary objectives that you may think of for the organization that is subject of your plan? How did you receive these objectives? What are the key success factors for achieving these objectives?
Reference
Pearce II, J. A., & Robinson, R. (2004). Strategic Management: Formulation, Implementation and Contol (9th ed.). : The McGraw−Hill.
Environmental Analysis and Long-Term Objectives:
INTRODUCTION:
This week introduces the concept of environmental analysis, and provides a review of the external and internal factors that drive the business environment in which a company operates. Environmental analysis is fundamental because the results of this analysis provide the context for strategic choice and implementation. No organization operates in a vacuum—this is why understanding the backdrop against which the organization operates is important.
As you learn about environmental analysis techniques this week, keep in mind that the validity of the resulting strategic plan is only as good as the information upon which the plan is based. Understanding what information is needed and how to get it helps managers prepare plans that align with reality.
This week also introduces the concept of core competencies, or strengths, which are those capabilities critical to a business achieving competitive advantage. Core competencies are not fixed, but should be modified in response to changes in the company’s environment. They are flexible and evolve over time. A firm’s core competencies consist of all the resources necessary to develop and implement a successful and appropriate strategy at all levels, while maintaining all functions.
These resources include employees, finances, external and internal resources, marketing, advertising, and global resources such as suppliers or information.
Some examples of corporate core competencies include technology, innovations, continuous cost reduction, customer focus and care, culture, and corporate image. While there are some tangible core competencies, the intangible core competencies like those mentioned above are more likely to be sustained.
THIS WEEK’S LEARNING OBJECTIVES
• Perform an environmental analysis using appropriate tools.
• Assess internal and external business environments.
• Create a set of long-term objectives from the environmental analysis.
• Align the vision and values of an organization to meet its long-term objectives.
HINTS FOR A READING STRATEGY OF THE ASSIGNED MATERIALS:
The reading this week covers not only the theoretical context of environmental analysis, but also tools that may be used to gather and summarize the information. Focus your attention on how these tools are used and how to incorporate them into consideration of potential strategy. Both external and internal audits are vital to the ultimate success of the strategic plan. Consider how these are conducted at your organization, and how the process could be improved.
SOME QUESTIONS TO ASK AS YOU HONE YOUR CRITICAL THINKING
As you read the material, consider the enormity of the task of gathering both internal and external environment information.
• Where would be a good place to find external environment information relevant to a company’s plan?
• How might a company get an honest understanding of what the company’s resources and limitations are?
• Once the competitive forces active in an industry have been diagnosed, a company may set about identifying its own strengths and weaknesses relative to the industry. Where does it stand against substitutes?
• Where does the company stand against the sources of entry barriers?
• Where does the company stand in coping with rivalry from competitors?
The answers to these questions must be the result of strategic choice.