Strategic Management Part 1
Question #1
Strategic Management focuses on firms and the different strategies that they use to become and remain successful.Chapter 1 reveals that multiple views of strategy may exist, and the 5 Ps described by Henry Mintzberg enhance understanding of the various ways in which firms conceptualize strategy.
For this Learning Assignment please identify each of these 5 viewpoints and describe why each is important in crafting an effective strategic plan.Also comment on the concept of "Intended" and "Emergent" strategies relative to the creation and implementation of a strategic plan, and why this may be problematic for each of these 5 strategic viewpoints.
Question #2
Discusses the importance of Mission Statement Goals, and suggests that they should be:
· Specific
· Measurable
· Aggressive
· Realistic, and
· Time-bound
The video Overview of the Strategic Planning Process (from above viewing list ) discusses how these goals within the context of developing a strategic plan. The video describes how organizational goals and objectives are applied at the corporate and departmental levels in an organization.
In this discussion provide an example of how a specific corporate goal might be implemented as a specific departmental strategy in a strategic plan. Be specific, and be sure to identify some problems a department manager might face in developing and implementing that specific strategy.
Strategic Management Part 2
Question #1
Using the "External Factor Evaluation (EFE) Matrix" in the supplemental reading material and reflecting on the content in the reading material in Chapter 3, you will perform a "mock" evaluation of the external environment for a nationally-recognized company.
For this post you will create and discuss an External Factor Evaluation (EFE) Matrix for a company of your choosing and discuss the external environmental factors within the following perspectives:
· Social, cultural, demographic, and environmental variables:
· Economic variables
· Political, government, business trends, and legal variables
Be sure to post the matrix you create.
Question #2
In light of the material in the chapter reading on Porters Five Forces, and reflecting on the paper "Five Forces Model" by Michael Porter and the Michael Porter Video "The Five Competitive Forces that Shape Strategy" (both in the supplemental materials) please respond to the following points:
· Which of the Porter's forces do you think is most important to strategic analysis and planning. Why?
· Describe how you would apply that force to the company you discussed in Learning Activity #1 above?
· "Barriers to Entry" measure how easy or difficult it is for new entrants to enter into the industry. Identify a barrier of entry that might be associated with the company you discussed in Learning Activity #1 above, and describe how one might address or overcome that barrier.
Strategic Management Part 3
Question #1
This week, using the "Internal Factor Evaluation (IFE) Matrix" in the supplemental reading material and reflecting on the content in the reading material in Chapter 4, you will perform a "mock" evaluation of the internal environment for a nationally-recognized company. (See Note below)
For this post you will create and discuss an Internal Factor Evaluation (IFE) Matrix for a company of your choosing and discuss the internal environmental factors, considering the major strengths and weaknesses in functional areas of a business
Be sure to post the matrix you create.
Question #2
For the same company, and brand develop a SWOT Analysis as well as a Grand Strategy Matrix form for four strategic quadrants for that company.
(Note: A good company information resource for this project would be Yahoo Finance. Locate and click on the call letters for a public company and then view the information topics in the left column. Larger companies have a broader range of information including Business Strategy, Industry, Competitive, etc. An annual report may also be available under Sec Filings.)
Strategic Management Part 4
Question #1
For this exercise, and using the topic material presented in Chapter 6, please identify a trend, void or need that currently exists in the U.S. market that would be conducive to launch a new business concept via either a Blue Ocean or Bricolage strategy. Be sure to identify which of these two strategies you have chosen and why.
Question #2
Using the Business-Level Strategies described in Chapter 5 of this week's readings (namely, cost leadership, differentiation, focused-cost leadership, and focused differentiation) identify how a nationally-known company has effectively used this strategy as part of its value proposition.
Be sure to substantiate your selections with reference-supported commentary.
Strategic Management Part 5
Question #1
Considering the five basic options listed below that are available for competing in international markets, discuss in detail the factors that a firm must consider when selecting each of these strategic directions.
1. Exporting,
2. Creating a wholly owned subsidiary,
3. Franchising,
4. Licensing, and
5. Creating a joint venture or strategic alliance.
Question #2
A disruptive strategic move by a company can create chaos within industry. Identify a discuss some counter strategies a firm might consider in order to re-establish a competitive position under a move that disrupts normality within an industry under each of the following disruptive moves:
a) Adopting new innovative technology.
b) A dramatic decrease in price.
Strategic Management Part 6
Question #1
Executives must select among the four types of organization structures (simple, functional, multidivisional, and matrix) available to organize its operations. Each structure has unique advantages, and the selection of structures involves a series of trade-offs. In this discussion:
· Please identify and discuss some of the more significant tradeoffs that a company faces with each of these various organization designs.
· Identify a business scenario where a specific structure you select might be a good fit.
Question #2
Identify a public company (e.g., one traded on the NY Stock Exchange or NASDAQ) and comment on the organization structure of that company. Be sure to incorporate concepts discussed in Chapter 9.
a) Why is this structure appropriate for that company?
b) What organizational changes have occurred in this company in the last 5 years?
Strategic Management Part 7
Question #1
This week's chapter explains the role of boards of directors in the corporate governance of organizations such as large, publicly traded corporations, focussing on their ethical behaviour and social responsibility performance.
a). Conflict of Interest was identified as a potential ethical issue that may confront a board member of a corporation.
· For this exercise discuss three ways a corporate board member might engage in inappropriate ethical behavior.
· Describe how could this have been avoided?
b). Moral reasoning was also cited as an issue that might influence corporate behavior. Also discuss an example of why this might be a problem for an organization.
Question #2
Corporate social responsibility impacts a number of a company's stakeholders including: a) Communities, b) Consumers, and c) Employees. For this exercise:
· Provide a specific example a company you know or have read about has demonstrated social responsibility.
· Explain how has this activity impacted the company (be specific).
Strategic Management Part 8
Question #1
After a Strategic Plan has been developed, approved and implemented, it needs to be monitored, reviewed and evaluated. Describe, in detail, the process of developing a strategic review process and provide an example of "one hypothetical strategy" and how the strategic review process might be conducted to monitor an review that strategy.
Question #2
Strategy Monitoring is the final (and ongoing) aspect of strategic planning. For this learning activity please discuss in detail how managers can effectively:
1. Monitor the strategies that have been formulated, and
2. Respond to strategy performance in light of Corporate Objectives
Please focus your responses on the various tools and methods discussed from this course and from other courses in the Business program.
Be sure to use specific examples in your discussion.