Assignment 1: Environmental Scanning
Purpose of Assignment
A strategic management plan addresses four different management functions: environmental scanning, strategy formulation, strategy implementation, evaluation and control. Weeks 3, 4 and 5 individual assignments (Part 1, Part 2 and Part 3) are integrated to generate a strategic management plan. The purpose of the Week 3 individual assignment is to evaluate the internal and external environments of a company selected by the student, to analyze the competitive advantage of the selected company, to evaluate a set of suitable strategies, and to examine appropriate metrics.
This assignment provides students an opportunity to research a selected company as if they were involved in a company's actual strategic management planning process. It allows students to see which management planning process and management plan the selected company is currently using, allowing them to measure the effectiveness of current strategies.
A Strategic Management Plan addresses four different management functions: Environmental Scanning, Strategy Formulation, Strategy Implementation, Evaluation and Control.
Assignments (Part 1, Part 2, and Part 3) are integrated to generate a Strategic Management Plan. This is Part 1 of the three part Strategic Management Plan.
Assignment Steps
Write a 1,050-word report in which you select a company you are familiar with or a company where you currently work, and do the following:
• Evaluate the internal and external environments of your selected company using an environmental scan.
• Analyze the competitive advantage of your selected company.
• Evaluate the strategies your selected company uses to create value and gain competitive advantage.
• Examine the measurement guidelines your selected company uses to verify its strategic effectiveness.
• Evaluate the effectiveness of the measurement guidelines your selected company uses.
Assignment 2: Strategy Formulation
Purpose of Assignment
The assignment is the second part of a three part strategic management plan for the company selected. The purpose of the assignment is for students to establish long-term goals and objectives; indicate, specify and discuss strategies; and investigate, consider and describe specific business strategies including vertical integration and strategic alliances, to achieve competitive advantage in the industry. The student also generates an appropriate organizational chart in alignment with the stated strategies.
Assignments are integrated to generate a Strategic Management Plan. This is Part 2 of the three part Strategic Management Plan.
Assignment Steps
Write a 1,050-word report on the company you selected, following up on the Assignment (Environmental Scanning), and address the following:
• Establish Long-term Goals and Objectives
• Strategy Formulation.
• Indicate the markets that the company will pursue.
• Specify the unique value the company will offer in the selected markets.
• Discuss the resources and capabilities that are required.
• Analyze how the company will capture value and sustain competitive advantage over time.
• Business Management Strategy
• Consider Cost and Differentiation Advantages.
• Describe the Corporate Strategy.
• Investigate Vertical Integration.
• Describe Strategic Alliances.
• Detail the Company Competitive Advantage.
• Generate an Organizational Chart of the company you selected.
Assignment 3: Strategy Implementation, Evaluation and Control
Purpose of Assignment
Individual Assignments are integrated to generate a Strategic Management Plan. This is part three of the three part Strategic Management Plan addressing strategy implementation, evaluation and control. The purpose of the individual assignment is to allow the student to discuss and explain how the strategies discussed in prior weeks are converted into implementation activities both domestically and internationally, in alignment with legal, social and ethical considerations. Furthermore, the student has an opportunity to explain and discuss how the strategic plan and implementation activities will be monitored.
Assignments are integrated to generate a Strategic Management Plan. This is Part 3 of the three part Strategic Management Plan.
Assignment Steps
Write a 1,050-word report on the company you selected, following up on the Individual Assignment (Environmental Scanning), and address the following:
• Strategy Implementation
• Discuss International Strategy.
• Discuss Strategic Implementation.
• Explain the influence of Governance and Ethics.
• Discuss the Company Social Value.
• Discuss Innovation and Diversification.
• Discuss Legal limitations.
• Evaluation and Control
• Explain Strategic Metrics.
• Discuss Key Financial Ratios.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.