Assignment: Strategic Management
Directions: Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four pages;
Part 1: Strategic Management
Using logical, clear writing, do the following:
o Describe strategy and the strategic management process.
o Define competitive advantage and describe the two approaches used to estimate a firm's competitive advantages.
o Explain why it is important to understand a firm's strategy.
Part 2: External Analysis
Using logical, clear writing, do the following:
o Describe an external analysis.
o Analyze the two levels of the environment.
o Identify and define the three elements of the S-C-P model.
Part 3: Internal Analysis
Using logical, clear writing, do the following:
o Describe an internal analysis.
o Explain resources and capabilities.
o Describe the VRIO framework.
Part 4: Cost Leadership
Using logical, clear writing, do the following:
o Differentiate between business strategies and corporate strategies and define the nature of a cost-leadership strategy.
o Identify six sources of cost advantages for firms.
o Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o 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.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.