Learning Outcomes
a) Describe and evaluate the objectives, aims and the primary aspects of a strategic plan whilst taking into account the vision and mission of the organisation.
b) Discuss and evaluate the processes and forces that influence the strategic decision-making process in relation to business strategy.
Context:
An organisation typically achieves superior returns when it has a sound strategy that is well implemented. A key part of determining an organisation's strategy is a clear understanding of the environment in which it operates. Evaluating the external environment is a critical part of the strategic management process, and this assessment requires that you undertake an analysis of the industry environment that Qantas Airlines is currently facing. To do so, you are required to apply Porter's Five Forces model to Qantas Airlines and reflect, using an academic article of your choice, on how analysing the environment in this way can help to inform managers in creating the organisation's strategy.
Instructions:
This assessment requires that you consider each of the following:
- A brief summary of the theory of Porter's Five Forces model.
- An application of each of the five forces to Qantas Airlines, in which you identify whether the existence of each force is high, medium or low, providing an overall summary of the industry's attractiveness regarding profitability.
- Your opinion on the usefulness and limitations of the five forces model, using an academic article of your choice, and the analysis that you have undertaken of the industry environment that Qantas Airlines is currently facing, to inform managers in creating the organisation's strategy.
This assessment is a ‘reflective essay' which means:
- It is an academic analysis, using your own opinions as well as those of others. It still follows typical essay conventions, for instance, it should have a logical series of paragraphs and is structured with a beginning, middle, and end.
- You need to critically reflect on your own thoughts and rationale, then integrate these reflections with appropriate theoretical concepts.
- It should be written in both the first and third person as directed in the suggested structure below.
To prepare for this assessment, the following steps are advised:
- Step 1 - Read the subject materials:
o Understanding the organisation's environment (module 2).
o Evaluating an organisation's external environment (module 2.1).
- Step 2 - Watch the following video on Porter's Five Forces
- Step 3 - Familiarise yourself with current information about Qantas Airlines
- Step 4 - Undertake additional research on the airline industry and source additional readings, including at least one additional journal article that may support your answer.
A suggested structure for your essay is as follows:
- Introduction (approx. 100 words). Define the purpose and scope of your essay, including what you intend to cover. Identify, in a compelling way, why the topic is important. Explain its context. This section should be written in the first person.
- A brief summary of Porter's Five Forces model (approx. 200 words). Clearly and succinctly outline the theory underpinning the approach (does not have to be detailed). Use a number of academic references to support the description provided. This section should be written in the third person.
- Application of the model (approx. 450 words). Here, taking each force in turn, describe and analyse Qantas Airlines, using each force. Be purposeful and specific in explaining exactly why you believe each force impacts in the way you do. Integrate relevant academic references, including at least one specific journal article into your analysis as appropriate. This section should be written in the third person.
- Usefulness and limitations (approx. 150 words). Explain how both, your and the industry analysis in general, can help Qantas Airlines to make decisions about its future strategy. Note, that the model does have critique and that other ways of analysing the environment are also important. Use references to support and justify your position. This section should be written in the first person.
- Conclusion (approx. 100 words). Summarise what you have undertaken in the essay along with the relevant conclusions and your own opinions. This section should be written in the first person.
Attachment:- Assessment_Brief.rar