Strategic Management Assignment 4

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Question Description

Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. 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 (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.

You will soon find yourself fulfilling roles in organizations where the ability to think strategically about issues will make you much more valuable to employers. For example, your boss may ask you to present information on a new strategy to gain a competitive advantage in the marketplace to the board of directors.

Part A: Strategic Management

Part A refers to the material in Lesson 1 of this course. Using logical, clear writing, do the following:

  1. Describe strategy and the strategic management process.
  2. Define competitive advantage and describe the two approaches used to estimate a firm's competitive advantages.
  3. Explain why it is important to understand a firm's strategy.

Part B: External Analysis

Part B refers to the material in Lesson 2 of this course. Using logical, clear writing, do the following:

  1. Describe an external analysis.
  2. Analyze the two levels of the environment.
  3. Identify and define the three elements of the S-C-P model.

Part C: Internal Analysis

Part C refers to the material in Lesson 3 of this course. Using logical, clear writing, do the following:

  1. Describe an internal analysis.
  2. Explain resources and capabilities.
  3. Describe the VRIO framework.

Part D: Cost Leadership

Part D refers to the material in Lesson 4 of this course. Using logical, clear writing, do the following:

  1. Differentiate between business strategies and corporate strategies and define the nature of a cost-leadership strategy.
  2. Identify six sources of cost advantages for firms.
  3. Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.

Tutor Answer

agneta
School: Boston College

Attached.

Strategic Management
Thesis Statement: The process of strategic planning involves determining the visions and
missions of an establishment over a specified long-term period mostly on a 3 to 5-year
differential where the organizational structure and credibility can be vetted in accordance to the
vision and mission set.
I.

Part A: Strategic Management

II.

Part B: External Analysis

III.

Part C: Internal Analysis

IV.

Part D: Cost Leadership

STRATEGIC MANAGEMENT

2

References
Barney, J. B., & Hesterly, W. (2014). Strategic Management and Competitive Advantage.
Harlow, United Kingdom: Pearson Education Limited.
Hesterly, B., & Barney, J. (2008). Strategic management and competitive advantage. England:
Pearson Prentice Hall.


Running head: STRATEGIC MANAGEMENT

Strategic Management
Institution Affiliation
Date

1

STRATEGIC MANAGEMENT

2

Part A: Strategic Management
According to Barney, & Hesterly (2014), strategic management in the field of
management refers to the formulation and implementation of a company's significant goals based
on visions and missions set by stakeholders and owners of respective franchises. Strategic
management incorporates the use of strategic planning during its processes. Strategic planning
refers to the management of resources and priorities within an enterprise aimed at optimizing
teamwork, operations fortification, networking between hiring staff mostly stakeholders and
employees while ensuring a healthy working environment to attain specific goals (Barney, &
Hesterly, 2014). The process of strategic planning involves determining the visions and missions
of an establishment over a specified long-term period mostly on a 3 to 5-year differential where
the organizational structure and credibility can be vetted in accordance to the vision and mission
set.
To be able to accomplish the organizational goals, stakeholders carry out operational
plans containing vision and mission statements of the organization, which form the baseline for
strategic planning. Stakeholders are mostly individuals or groups of people that have an interest
in a specific enterprise or project. Stakeholders determine the way a company's actions either
affect them or how their actions affect the institution. The resultant effects can either be a
building block or inc...

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Anonymous
Thanks, good work

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