Strategic Management Assessment - Strategic Audit 'Project'
Learning outcomes -
a) Describe various key strategic management processes (strategic inputs, strategic actions and strategic outcomes).
b) Discuss, assess and analyse the internal and external environments of an organisation to determine resources, capabilities and core competencies.
c) Develop and critique the implementation of strategic responses to current and future issues facing the global business environment.
d) Evaluate business and corporate level strategy and identify the key risks associated with these strategies.
e) Evaluate an organisations ability to effectively implement business/corporate strategies.
f) Demonstrate an ability to think strategically about an organisation, its position in the marketplace and how it can gain a sustainable competitive advantage.
Part A (1000 words approximately)
Introduction: Background of the company and focus of your report.
External analysis: In this section you should outline what you think are the main opportunities and threats facing the organisation. You should analyse the general, industry and competitor environments of the company. Analyse all elements of the external environment. However, in writing up this section, it is important that you concentrate on a few main elements and explain why they are significant (keep in mind the word count). You have to support the most significant elements of the external environment by references from the business media, industry publications and other relevant websites.
Internal analysis: In this section you should outline what you think are the main strengths and weaknesses of the organisation. As with the external analysis, you need to try to identify and explain the main issues rather than list a wide variety of factors. You should explain what resources and capabilities contribute into a competitive advantage of the company. Your analysis should be supported by relevant information from the company's web site, annual report (if available) and the media.
Part B: (1500 words approximately)
Summary SWOT: This will be based on the strength, weaknesses, opportunities and threats you identified as part of your internal and external analysis in Part A.
Strategy evaluation
Evaluate four current strategies. Consider all relevant strategies and select four. This could include all or many of the following: business level strategy, diversification, acquisitions/mergers, international strategy and/or co-operative strategies.
Problems/Challenges and recommendation
Identify three main strategic issues.
In this section you should outline a range of strategic actions for the company: where to from now to resolve the three significant strategic issues/challenges identified. You should consider the threats, weaknesses and risks of strategies in identifying strategic issues/challenges. You should recommend some alternative actions and justify your choice in terms of the company's SWOT analysis. To link together the results of the external and internal environmental analysis, you could use the TOWS matrix.
Conclusion (major results of your analysis and recommendations with regards to the mainstrategic issues identified)
The report (Part A and B) should be prepared in a professional manner. This means that the report should be concise, incisive, and literate and include appropriate supporting tables, charts, and exhibits.
PLEASE NOTE: This is a very important assessment and is being done individually. You have to select ONE of the following companies for your audit: Uber or Tesla or Zara.