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Using one strategic management tool, explain in your own words how to carry out an effective external environmental analysis on a firm.
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- Identify two current organizations—one organization facing a low-risk competitive environment and one facing a high-risk competitive environment. For each of these organizations, explain why you have evaluated its competitive environment as either low risk or high risk, using strategic planning and analysis concepts (such as Porter's Five Forces Model) For each of these organizations, recommend a pairing of a system design tool and a system operation tool that you believe will work especially well in the competitive environment faced by the organization. Be sure to explain why the tools you have chosen are uniquely suited to the competitive environment faced by that organization.Discuss the following for the Volkswagen Group: Where along the value chain does your firm have uniqueness and a competitive advantage—and how will your proposed recommendations enhance the firm’s competitiveness? Are revised vision and mission statements needed given your strategic plan for the firm?When using the strategic management process, firms should start by A) developing a strategic vision, mission and values. B) developing a proven business model, deciding on the company's top management team, and crafting a strategy. setting objectives, developing a business model, crafting a strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage. C) coming up with a statement of the company's mission and communicating it to all employees, setting objectives, selecting a business model, and monitoring developments and initiating corrective adjustments to the business model when necessary. D) deciding on the company's board of directors, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ.
- How does industry analysis and companies evaluation help in evaluating the performance of strategic applied?Please paraphrase: customer-driven corporate policy, supply chain management, and other supply chain elements get cited frequently as strategic policies in achieving business success within the competitive market for successHow would you approach this issue if you were the manager in charge of sourcing rawmaterials for LEGO? How would PESTEL analysis inform your actions?
- Kourdi (2009:3) has defined business strategy as a “plan, choice or decision used to guide a company to greater profitability and success.” Required Explain how the following strategies facilitate the achievement of success or profitability: Outsourcing Diversification Market Focus Market developmentProvide an action plan that the company needs to take to achieve competitive advantage over its rival companies.Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition” (Porter, 1985). Evaluate the five basic competitive strategies pursued by organizations in order to create sustainable competitive advantage
- Begin by selecting two functional strategies from the list below: Marketing Strategy Financial Strategy In your initial post, explain the overall goals of each of the strategies that you selected, generally speaking. Then, expand on your choices by describing how each functional strategy may work together to potentially achieve economies of scope. Further develop your response by describing how the functional strategies that you selected operate either at your place or work, a place where you have worked in the past, or in a hypothetical “best” corporation scenario. Alternatively, you may research an actual corporation to further develop your response on your chosen functional strategies. Be sure to post at least 2 referencesList and explain the most critical internal and external factors with QVC INC (Strengths, Weaknesses, Opportunities, Threats) that strongly affect the corporation’s present and future performance. List five to ten strategic factors in order of their importance.How can organizations develop comprehensive long-term strategic plans that effectively align with their mission, vision, and values while considering external environmental factors and internal capabilities?