Competitive Strategy

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Business Finance

Description

Assessment 1

Length and Marks

Criteria

1. Individual Assignment

Write an essay explaining the main strategy development tools and how they are used

1200 words; 20 Marks

Individual

Comprehensive discussion of any 4 of the following:

PESTEL, 5F, PROFIT, SWOT, Generic, Ansoff, Ghemawat, with academic references and practical examples.

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HI6006 Student Assessment Details Assessment 1: Individual Assignment – 20 marks – week 5 Assessment 1 Length and Marks 1. Individual Assignment Write an essay explaining the main strategy development tools and how they are used 1200 words; 20 Marks Individual Criteria Comprehensive discussion of any 4 of the following: PESTEL, 5F, PROFIT, SWOT, Generic, Ansoff, Ghemawat, with academic references and practical examples. Write an essay explaining what the main strategy development tools are and how they are used in business. Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, Five Forces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross Impact Analysis), Generic Strategies, Ansoff, Ghemawat, with reference to academic journals and practical examples from industry. Be sure to use paragraphing. In this essay, sub-headings are permitted. Be sure to reference your sources in-text and provide a list of references at the end in Harvard style. Please type in Times New Roman 12 point with 1.5 line spacing and page numbers. Ensure your Student Number and Name appears on the Cover Sheet. Your final submission is due Friday of week 5 at midnight. 1 HI6006 Assessment 1 Marking Guide Maximum 20 marks Criteria Discussion of Strategy Tools Marks Not Evident Basic, correct Mention Evidence of Understanding Evidence of Ability to Apply PESTEL 0 1 2 3 Five Forces 0 1 2 3 PROFIT (may include VRHN) 0 1 2 3 SWOT (may include CIA) 0 1 2 3 Generic Strategies 0 1 2 3 Ansoff’s Model 0 1 2 3 Ghemawat’s AAA Model 0 1 2 3 Essay Quality Length and style is adequate Average quality Good paragraphing, interesting writing style, Good detailed discussions 3 Excellent (any 4) 2 1 Referencing (in-text and listed at end) Significant errors Only minor errors OR Just adequate 2 OR Inadequate literature 1 No error and good foundation literature 3 Written work, Evidence of comprehensive understanding 4 Outstanding effort, Excellent literature, without any errors 4 Remember that late submissions attract penalties at the rate of 5% per day, unless prior approval (for medical reason) was obtained. TOTAL /20 2
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Explanation & Answer

Attached.

Strategic Development Tools1

Strategy Development Tools

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Date
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Strategic Development Tools 2
PESTEL Analysis
PESTEL analysis tools are used by businesses to look at the external environment of
marketing and look at various factors that affect the organization in one way or another. The
analysis seeks to identify any weaknesses or challenges the organization experiences in the
external environment (Rastogi & Trivedi, 2016, p. 385). The word PESTEL stands for political,
economic, social, technological, environmental, and legal context of the business.
Political Environment
It is the environment surrounding politics in a given country. The political state of a
government has an impact on the context of the business. Politics can affect the economy, thus
changing the market (Rastogi & Trivedi, 2016, p. 385). The company may be affected by the
laws surrounding the environment, labor, tax policy and policies surrounding foreign trade,
political instability, political stability, and overall government policies on businesses. Therefore,
the political climate affects the company.
Economic Environment
The economic environment is very vital to the success of a business. How the industry
can stand amidst changes in the economy determines its survival. The firm has to make
considerable profits to survive. Factors in the economic environment include inflation rate,
exchange rate, interest rates, economic growth, and business and consumer income. The
organization also has to be able to manage demand. How people spend their salary also affects
the market (Rastogi & Trivedi, 2016, p. 385).

Strategic Development Tools 3
Social Environment
The social environment is also the socio-cultural environment. It mainly deals with how
an organization relates to the population surrounding it. The factors include people’s careers,
health awareness, age distribution, population distribution and population growth. The
information is vi...


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