Is Business Strategy A Mixture Of Luck And Judgement, Opportunities And Design,?
Format APA Volume of 4 pages (1100 words) Firms or companies today face a broad array of risks, problems and issues internal to them and external factors relative to increased international competition due to globalization. Thus, strategic management is an activity necessary to be undertaken by firms who want to sustain their existence in today’s highly competitive environment. Firms need to develop strategies as they are managements’ game plan for growing the business, staking out a market position, attracting and pleasing customers, competing successfully, conducting operations, and achieving targeted objectives. Strategic management is the set of managerial decisions and actions that determines the long-run performance of a firm. The question however arises as to whether strategic management is an art or a science or that it is simply a mixture of luck and good judgment. Individual Project The analysis should consist of the following suggestions: 1. Provide a background of the company, type of industry, organizational structure, number of employees etc. 2. To obtain an overall understanding of the company, identify its Mission-Objectives-Strategies 3. Using tools and concepts from the text plus information from other research and sources, perform an industry and competitive analysis. If the industry has many competitors, you may pick the top three. 4. Identify the opportunities and threats that you perceive facing the company by analyzing the market environment of the firm. These may include changes in both economic and non-economic areas, technology, political and legal regulatory forces and in socio values. 5. Identify the key strengths and/or weaknesses of the company. What are the key tasks that must be performed to succeed in this industry? What are the distinct competencies of the firm relative to competition? 6. Evaluate the resources, managerial, marketing, financial, operations available to the company. Resources may be evaluated relative to competitors (industry) 7. Evaluate the effectiveness of structure (formal organization, information systems and control systems) relative to the perceived opportunity or threat. 8. Identify and evaluate personal values and skills of key executives who must contribute to strategy. Consider how attitudes toward risk, internal company climate, standards of business conduct and social issues may affect structure and strategy. Consider the unique capabilities of top managers and the effects on strategy. 9. Provide strategic recommendations that are sustainable to the overall short or long term objectives that were identified in your analysis FORMATTING THE SUMMARY PAPER 2. Introduction. Provide an overall introduction to the organization you had picked along with their mission, vision, objectives, goals, social etc. Discuss who the organization is, where they are, what product or service they provide, how many employees they have, etc. 3. Assessment of the Organization’s External Environment. This section of your paper will examine the external environment in which your organization operates. Here you will describe the opportunities and threats facing your organization as well as its competitors and others in its industry. Also, describe trends in the external environment that may be affecting the organization. 4. Assessment of the Organization’s Internal Environment. This is a necessary step to assessing the strengths and weaknesses of the organization. To accurately assess the internal environment, you will need to do primary data gathering meaning that you will need to gather data directly from the organization itself, regarding their existing strategy if its delivering on their mission. You may also use the organization online sources if primary data gathering could not be achieved due to company restrictions and timing. 5. Recommendations. Based on the course readings and assignments as well as your research findings, your job here is to provide a detailed assessment of your findings and insights of what you believe would ensure your client’s sustainable strategy for long term success.
Description
Must be 5-8 (excluding cover sheet, table of contents and reference page) double-spaced pages in length and formatted according to APA style, as outlined in A Writer’s Reference.
Must include a cover page that contains the following:
· Your Name
Module name and number
· Title of paper and company – [“A Strategic Analysis of XYZ Organization”]
· Facilitator’s name
· Date submitted
Must include a Reference List with a minimum of ten (10) references as the final page completed according to APA style, as outlined in A Writer’s Reference.
Additional suggestions for formatting the paper:
1. Table of contents. The table of contents lists each of the paper’s sections and the member’s name(s) who wrote that section.
