A strategic management plan addresses four different management functions

User Generated

jvfrpenpx8762

Business Finance

MGT 498

UOP

Description

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.

The Week 3, 4, and 5 Individual 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 (no more than 1,060 words) report in which you select a company you are familiar with or a company where you currently work, and do the following:

((( I WANT YOU TO SELECT THE COMPANY AS I WILL BE USING YOU FOR THE NEXT 3 WEEKS, THUS YOUR INSIGHT WILL BE GREATLY NEEDED / WARRANTED ON THE COMPANY OF YOUR CHOICE. )))

  • 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.

Cite 3 scholarly references, including at least one peer-reviewed reference from the University of Phoenix Library. Format your paper consistent with APA guidelines.

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Explanation & Answer

Attached.

Running head: STRATEGIC MANAGEMENT

Strategic Management
Institution Affiliation
Date

1

2

STRATEGIC MANAGEMENT
Introduction

The company that I have chosen for this project is Nike, Nike is a company that
specializes in sports gear and it has been around since 1964. The company has been in the media
for countless times and I am also familiar with their products. Having a strategic plan that has
looked into all the factors that can affect the company if they are not well tended to is very
important.
Internal and External Environments
The internal environment can be defined as the elements that are normally found in the
company, for instance, the employees and the culture among others. While external environment
is those events that happen outside the company, they can have an effect on what is going on in
the company, it can either be positive influence or negative influence.
a) External Environments
One of the factors is technology; Nike has to keep coming up with new products so as to
make sure they still maintain their competitive edge, innovation needs technology. The
manufacturing process and the designing, technology is one of the main successes of any
company. Next is social factors, this is very important for Nike due to their brand, they have to
make sure that they are meeting the needs of their customers and they are to take in people
opinions, their culture as well as their lifestyles. Another external factor is the legal and the
political factor since the company i...


Anonymous
Awesome! Perfect study aid.

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