Access over 20 million homework & study documents

search

MGT 498 Week 2 Learning Team Assignment Learning Team Reflection.

Type

Homework

Rating

Showing Page:
1/5
Weekly Reflections 1
Team C – Weekly Reflections
MGT/498
University of Phoenix

Sign up to view the full document!

lock_open Sign Up
Weekly Reflections 2
Team C – Weekly Reflections
The purpose of this paper is to display Team Cs comforts and difficulties with various
topics. In addition, the team will discuss how these topics relate to application in his or her field.
The team agrees that objective 2.1, measure an organizations internal and external environments
using environmental scanning and objective 2.2, Determine relevant business competitive
strategies are the easiest easy to understand. In contrast, the team believes the most difficult
objective to understand is objective 2.4, choose measurement guidelines to verify strategy
effectiveness.
In regard to objective 2.1 the team believes this objective is easy to understand because it
involves environmental scanning, which basically takes a good hard look at the organization to
determine the strengths, weaknesses, and resources available internally. Environmental scanning
also involves studying an organizations industry or business field along with opportunities and
threats from an external standpoint. For this reason, the team agrees that objective 2.1 is much
like a SWOT analysis. Therefore, every company should use this objective to scan its market for
opportunities and make necessary adjustments or changes to remain competitive. However,
analyzing objective 2.1 created some questions for team members. Question such as how can an
organization prepare for a new product if it has not been launched yet? How can an organization
prepare for a new or potential threat?
Team members analyzed the aforementioned questions and developed solutions. For
example, companies can launch a new product by creating value from the onset to sustain a
competitive advantage. However, creating value when everyone has different values is not an
easy task. Organization must weigh various factors to create value. Factors such as a person’s

Sign up to view the full document!

lock_open Sign Up
Weekly Reflections 3
sex, religion, culture, and beliefs are just a few examples of the factors organizations must weigh
when creating value.
In connection, preparing for potential threats requires sustaining a competitive advantage
over the competitor. Objective 2.2 helps an organization establish a competitive advantage.
Competitive advantage is vital for an organization but not always an easy task because with
every new invention the competition is creating something comparable or better. Therefore,
organizations must adapt to change quickly to remain competitive and relevant. One team
member works for an organization that changes product purchases more than the seasons.
Additionally, this organization makes decision in connection with the company’s values, mission,
and vision of the company. The organization remains competitive with other businesses in its
field by keeping prices low, measuring the effectiveness, and analyzing the company’s internal
and external environment to keep its competitive advantage.
Another team member believes his or her organization applies objective 2.1 with ease.
The company is proactive about updating the strategic plan and is constantly looking for ways to
gain a competitive advantage. Furthermore, the company is young company with young leaders
who want to excel and be acknowledged as the best in business. The most recent upgrade was in
improving the employee relations aspect of the business and the measurement guidelines for the
company. The owner and president of the company conducted one-on-one conversations with
everyone in the organization to discuss areas where management is excelling, maintaining, or
failing.
The differentiation strategy is the most prevalent of the strategies that another team
members organization uses. In the differentiation strategy a company works to build a reputation
of providing a unique product or service not available from any other business (Carpenter &

Sign up to view the full document!

lock_open Sign Up
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Excellent! Definitely coming back for more study materials.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4