Discussion Post: Strategic Management and Competitiveness
In this discussion post, you will decide on strategic management plans, a company's strategic competitiveness, and the best model for above-average returns.
In current market conditions, companies need to gain and then maintain a competitive edge over their competitors. They do this by employing a compelling and dynamic strategic management process to create a strategy that helps them achieve their goals before one of their competitors does.
Select any two of the main questions and address all of their bullet points:
Question I:
Discuss the following questions in relation to strategic management:
o What factors make up this process?
o How important is it to change, and what criteria determine the changes in a strategic management plan?
Question II:
Discuss the following questions in relation to strategic competitiveness:
o How would you describe the twenty-first century competitive landscape and the various challenges it brings to businesses?
o Why will a traditional mindset not lead a company to strategic competitiveness and what values must managers adopt to overcome these challenges?
Question III:
Discuss the following questions in relation to above-average returns:
o What are the differences between industrial organization (I/O) and resource-based models of above-average returns?
o Which is a more successful model?
o Which model will you use to help shape your strategic management plan and why?
Question IV:
Applying your understanding of strategic management, answer the following questions:
o How can business-level and corporate-level strategies be best used to gain a competitive advantage and earn above-average returns? Explain.
o What are the advantages and disadvantages of competitive rivalry?
o How can a company use competitive rivalry to its advantage? Provide examples.
o Under what conditions would you choose a single or dominant business corporate-level strategy versus a more diversified strategy and why? Discuss.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.