Focusonunderstandingtheassignmentbrief

Question Assignment briefing ?Seetheassignmentbriefingfordetails Exercise Splitintogroupsofbetween3and5 Discusshowyouwill carryouttheassignment. Focusonunderstandingtheassignmentbriefselectionof anorganisationuseofthe toolshowtodraw conclusions. Assignment Brief: ?Conducta thoroughstrategicanalysisofyour organisation?sexternalenvironmentandcritically evaluatehowtheidentifiedissues mightimpactonthe organisation?sbusinessstrategy. ?(Ifyouarenotcurrentlyworkingthenyoucanusean organisationwithwhichyouarefamiliar.) Format ?2500 words ?Reportformatrecommendedbut this is an academic reportand so argumentsMUST be underpinnedby evidenceand academicsources ?Suggestedstructure onassignmentbriefing ?Fullyreferenced usingHarvardreferencingstyle ?Proofread and spell check?ifit doesn?t make senseI cannotmark it! ?Conductathoroughstrategicanalysisof yourorganisation?sexternal environment and criticallyevaluatehowtheidentified issuesmightimpact on theorganisation?s businessstrategy. ?Conductathoroughstrategicanalysisof your organisation?sexternalenvironmentand criticallyevaluatehowtheidentifiedissues mightimpactontheorganisation?sbusiness strategy. Overto you… How willyou tackle the assignment? Whichorganisation willyou use? Whichmodels willyouuseandwhy? Stages ?Identifyorganisation ?Thismaytakesometime?you mightstarttoinvestigate theorganisationandthendecide tochangedue tolackof information ?Considermodelsyouwishtouse ?Supporttheirchoice withacademicevidence ?Undertakefurtherresearchontheorganisation ?Applythemodelstothecompany ?Writethereport Session3 ? Generatingandevaluatingstrategic options Learningobjectives Afterstudyingthistopicyou shouldbeableto: 1. Understandthekeyinfluenceson anorganisationsavailable strategyoptions; 2. ApplytheAnsoffmatrixtoevaluatethestrategicoptions availabletoan organisation 3. Usearangeofconceptstoevaluatetherelativemeritsof onestrategyoptionagainstanothertodeterminethemost appropriatechoiceforan organisationat agiven time. DeterminantsofStrategy ?Industrylife cycle stage ?Industrystructure ?Competitiveposition ?Competitorbehaviour ?Companyinnovation ?Organisationalresources ?Customerneeds Business strategy Johnsonet al(2011:197) ree genericstrategies Th Johnsonet al(2011:199) Source:AdaptedwiththepermissionofThe FreePressa DivisionofSimon&SchusterInc. fromCompetitiveAdvantage:CreatingandSustainingSuperiorPerformance byMichaelE. Porter.Copyright?19851998byMichaelE. Porter.Allrightsreserved Strategyclock Johnsonet al(2011:208) Source:AdaptedfromD.FaulknerandC.BowmanTheEssenceofCompetitiveStrategyPrenticeHall1995 OtherStrategies ?StrategicLockIn ? usersbecomedependentonasupplierandareunabletouseanother supplierwithoutsubstantialswitchingcosts. ? Controlling complementaryproductsorservices. ? Creatingaproprietaryindustrystandard. ?Hypercompetition ? Nolongerabletoplanforsustainablepositionsfor competitive advantage?needtoactfasterthancompetitors ?Co-operatingwithrivals ? Collaborationcanprovideadvantage(butbecarefuloflegal considerationsiecollusion) Strategy andLifeCycle Stage1 EMERGENCE GROWTH STRATEGIC ISSUES MARKETING TASKS u Marketdefinition u Technologyuncertain u Lowentrybarriers u FinancingR&D u Firstmoveradvantages u Researchthemarket u Raiseawareness/interest u Induceconsumerstotry/buy u Developchannelrelationships u Educatetargetedsegments u Financingexpansion u Experienceeffects u Newentrants u Technologyalliances u Improveproductquality u Extendproductline u Enternewsegments u Accesswiderchannels u Buildthebrand u Cutpricesatrighttime 1.Adaptedfrom KotlerMarketing Management?chapteronMarketing strategiesforDifferentStagesof thePLC. Strategy andLifeCycle Stage MATURITY DECLINE STRATEGIC ISSUES MARKETING TASKS ?Rivalryintensifies ?Profitabilitydeclines ?Innovationdeclines ?Consolidation ?Costreduction ?Expandcustomerbase ?Increaseusage rate ?Introducenewbrands ?Productmodification ?Adjustmarketingmix ?Rateofdecline ?Differentialadvantages ?Attractiveness/position ?Exitbarriers ?Diversificationpotential ?Evaluateportfolio ?Investin cashcows ?Withdrawweakproducts ?Promotebenefits Impactof CompetitivePositionon Strategic Choice ?MarketLeaders ?keyissues:howtoexpandthemarket andprotectshare ?MarketChallengers ?keyissues: costsrisksandgainsfromattackingleaderand howtoattack ?MarketFollowers ?keyissues: co-existenceandimitation ?MarketNichers ?keyissues: segmentationandspecialisation(focusstrategy) AnsoffMatrix Johnsonet al(2011:232) Source:AdaptedfromH.I.AnsoffCorporateStrategyPenguin1988Chapter6.Ansofforiginallyhadamatrixwithfourseparateboxesbutinpracticestrategicdirectionsinvolve more continuousaxes.The Ansoffmatrixitselfwaslaterdeveloped?seeReference1 TOWS (Weihrich 1982) ? TOWSAnalysisisavariantof theclassicbusinesstool SWOTAnalysis. ? Byanalysingtheexternal environmentandyour internalenvironmentyoucan usethese techniquestothink aboutthestrategyof your wholeorganizationa departmentora team. ? E.g.Usestrengthstodevelop strategiestoexploit opportunities the matrixbelow: TOWS StrategicAlternatives Matrix TOWS ExternalOpportunities (O) 1. 2. 3. 4. ExternalThreats (T) 1. 2. 3. 4. InternalStrengths (S) 1. 2. 3. 4. SO “Maxi-Maxi”Strategy Strategies thatuse strengthsto maximizeopportunities. ST “Maxi-Mini”Strategy Strategies thatuse strengths tominimizethreats. InternalWeaknesses (W) 1. 2. 3. 4. WO “Mini-Maxi” Strategy Strategies thatminimize weaknessesbytaking advantageofopportunities. WT “Mini-Mini”Strategy Strategies thatminimize weaknessesandavoid threats. TranslatingStrategyinto Action The4 general strategiesidentifiedabovein the Ansoff matrixcaneachbe pursuedin a varietyofways. These include: INTERNAL EXTERNAL u Organic growth u Exporting u Overseasoffice u Overseasmanufacture u Multinationaloperation u Global organisation u Merger u Acquisition u Jointventure u Alliance u Franchising u Licensing u Turnkey StrategyEvaluation1 Consistency Willthe strategypresentmutually inconsistentgoals andpolicies? Isthe strategyrealistic given availableresources? Feasibility Rumelt?s criteria Consonance Isthe strategyanadaptiveresponse to critical environmentalchanges? Doesthe strategycreateor enhancecompetitiveadvantage? Advantage Session3-Summary ? Organisationsarenotworkingwithablankpieceofpaperwhenchoosing theirstrategy.Theavailableoptionsarepartlydeterminedbyexisting externalfactorscompanyfactorsandmanagerialcharacteristics. ? TheAnsoffmatrixoffersa simplewaytoexaminepossiblemarketgrowth strategiesbutonlyfocusesonexternalmarketopportunities. ? TheTOWSmatrixseekstobasestrategydevelopmentintherealityof strategicanalysisandintegratesboththeexternalandinternal perspectives. ? Havinggenerateda rangeofstrategic optionsitisvitaltoscreen them rigorouslyagainstkeyselectioncriteria.Rumeltsuggestedconsonance consistencyadvantageandfeasibility. ? Thompsonfurtherpointedoutthatthereis noperfectchoiceandthata compromiseisoftenrequiredtobalanceenvironmentalresourceand valuesperspectives.

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