Strategic Management Assignment
1. Open latest issue of The Wall Street Journal and look for an article about new moves being made by a corporation, specifically the decisions that are strategic.
2. At what level (Functional/Business/Corporate) is each of the decisions that you identified? Why do you believe this to be the case?
3. What is your assessment of these decisions? Will they be effective? Why? How have you decided this?
4. In context to strategic management, searchthe Fortune"Most Admired Companies" 2010 and compare that list to the latest one of 2017.
5. Which companies have fallen out of the top 10? Pick one of the companies and investigate why it is no longer on the list.
6. Which companies appeared both in 2010 and 2017? Why?
7. Which companies go to the top 10 list from not even being on the 10 in 2010 list? Pick one of the companies and investigate how it reached the top 10 list.
Conduct research on the selected companies. Try to explore what are the company's opportunities, threats, strengths, and weaknesses? Prepare a 3- to-5 page report of the company. The report should include the following: a. Does the firm have any core competencies? Are any of these distinctive (better than the competition) competencies? Does the firm have any competitive advantage? What is its business model? Provide a SWOT analysis. What is the likely future of this firm if it continues on its current path?
8. Create a hypothetical organization offering product /service of your choice. Identify a real potential competitor in the market.
1. Name your product/service as well as organization.
2. Write the mission and objectives.
3. Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.
4. Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.
5. Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.
6. Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.
7. State how you are going to implement selected strategies via programs, budgets, and procedures.
8. State how you are going to evaluate implemented strategies via feedback systems, and the control of activities to ensure their minimum deviation from plans.