Posted: September 16th, 2017
Two management capabilities most sought after by employers are the ability to think strategically and the ability to drive results. The purpose of this task is to have you bring your focus to bear on these two capabilities.
Introduction:
Two management capabilities most sought after by employers are the ability to think strategically and the ability to drive results. The purpose of this task is to have you bring your focus to bear on these two capabilities.
Scenario:
Assume that you are employed in a company providing service in a healthcare, lodging, or retail trade industry. The president of your company has expressed concern about the company’s ability to remain competitive and has asked you to develop a program to improve the strategic management activities within the company. The president feels that the planning must be more sophisticated and should utilize the most current planning concepts. The entire organization must be more closely aligned to the company’s mission, and execution of the plan must be more effective.
You have been asked to develop a strategic plan for your company and a business report explaining the components of your plan by discussing the strategic management process and describing how the plan should be executed to achieve sustainable dominant competitive advantage.
Task:
A. Evaluate the industry environment for your company by doing the following:
1. Discuss one dominant economic feature of your industry.
2. Analyze the impact on industry profitability of the most significant force driving change in your industry.
a. Explain how you plan to provide for that force in your strategic plan.
3. Discuss two significant differentiating competitive characteristics of your industry.
a. Analyze where you want your company situated on a strategic group map that you draw using these differentiating competitive characteristics.
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