Basic Concepts of Strategic Planning and Management - Management Assignment Help

Assignment Task

CHAPTER 1
Basic Concepts of Strategic Planning and Management
1. The term _________ is used to refer to strategy assessment, formulation, implementation, and evaluation.
A. Strategic planning
B. Assessment
C. Strategic management
D. Management cycle
2. Which of these requires a firm to establish annual objectives, devise policies, and allocate resources?
A. Strategy formulation
B. Strategy implementation
C. Strategy evaluation
D. Strategy manipulation
3. Anything that a firm does especially well compared to rival firms is referred to as:
A. Competitive advantage.
B. Comparative advantage.
C. An external opportunity.
D. Opportunity cost
4. __________ is intended to increase the market share or leadership position of an organization at the expense of competitors
A. Defensive strategy
B. Mission
C. Offensive strategy
D. Vision
5. All of the following are considered resources of the company except:
A. People
B. Budget
C. Physical Assets
D. Raw Materials
CHAPTER 1 - Basic Concepts of Strategic Planning & ManagementDiscuss the following model in few sentences.
00Where we were?


Please type your answers in the table below:
Where we were? Where are we now? Where do we want to go? How do we get there? CHAPTER 1 - Basic Concepts of Strategic Planning & ManagementExplain the concept and importance of the Strategic Lens as illustrated in the image below.(5 marks)

CHAPTER 1 - Basic Concepts of Strategic Planning & Management

Complete the table given below according to the Miles & Snow Strategy Framework.
Please type your answers in the table below:
Organizational Culture Response Style Example
Prospector
Reactor
Defender
Analyzer
CHAPTER 1 - Basic Concepts of Strategic Planning & Management
Define each element of the Henry Mintzberg’s 5 P’s of Strategy.
(5 marks)

Please type your answers in the table below:
Plan Ploy Pattern Position Perspective CHAPTER 1 - Basic Concepts of Strategic Planning & ManagementFill the table from the perspective of the company you are currently working for.
(10 marks)
Strategic Goals Long-term Objectives Short-term Objectives Action Plan Resources Needed 1051560465000CHAPTER 2
The Internal Assessment
CHAPTER 2: The Internal Assessment The VRIO Framework is a tool used to analyze an organization’s internal resources and capabilities to discover if they can be a source of sustained competitive advantage.
Briefly define each element of the VRIO Framework and apply the framework to a company’s actual resource or capability that results in sustained competitive advantage.
(2 marks)
1. Valuable
(2 marks)
2. Rare
(2 marks)
3. Imitability
(2 marks)
4. Organization

CHAPTER 2: The Internal Assessment Describe the three components of the value chain and how each is important to the strategic manufacturing process. Give one example for each component.
(6 marks)Please type your answer in the table below:
Inputs Throughputs Outputs
CHAPTER 2: The Internal Assessment Write the correct numbers of the items in the left column with the correct type of organization structure in the right column.
(6 marks)
1. Centralized knowledge Simple organization
2. Departments specializing in operational functions Multi divisional corporation
3. Flexible & broader defined tasks Functional organization
4. Few employees supervised by the business owner Mechanistic organization
5. Divisions determined by products, services, market, geography Organic organization
6. Formal linking roles between functions and products Matrix organization

CHAPTER 2: The Internal Assessment Analytical Questions.
(4 marks each)
1. How can value chain analysis be used to identify a company’s internal strengths & weaknesses?
Please type your answer here:
2.In your opinion, does a company’s organizational structure have any influence on its internal strengths & weaknesses? Support your opinion with relevant reasoning.
Please type your answer here:

CHAPTER 2: The Internal Assessment
Identify whether the items in column A are core competencies or distinctive competencies and write ‘core’ or ‘distinctive’ in column B accordingly.(5 marks)
A B
Manufacturing engines Expertise in flat-panel screen technology Ability to design and manufacture powerful microprocessors Imaging & microprocessor controls Low-cost, high-quality manufacturing capability
1074420000
CHAPTER 3
The External Environment Analysis
CHAPTER 3: The External Environment Analysis Write the correct answer with the help of the given statements. (2 marks each)1. The process of collecting and analyzing information about competitors’ strengths and weaknesses in a legal and ethical manner to enhance business decision-making.
Answer:
2. Strategies used to keep competitors out of a company’s market
Answer:
3. Competition for markets with dissimilar products or services
Answer:
4. Compete for same customers, but offer different functionality
Answer:
5. The environment external to the organization, its operations and its industry.
Answer:

CHAPTER 3: The External Environment Analysis 
(1 mark each)1. Micro external environmental conditions result from:
A. The behaviors of other organizations in the industry
B. The quality of products
C.manufacturing process
D.economies of scale
2. An industry is defined as:
A. a group of firms producing the same item.
B. firms producing items that sell through the same distribution channels.
C. firms that have the same seven-digit standard industrial code.
D. a group of firms producing products that are close substitutes.
3. Which of the following is NOT an entry barrier to an industry?
A. expected competitor retaliation
B. economies of scale
C. substitute products
D. government and legal requirements
4. Porter’s 5 Forces Model considers:
A. the four P’s of marketing
B. threats of substitute products
C. economies of scope
D. bargaining power of employees
5. In evaluating customers, which of the following is NOT a relevant question?
A. How will core competencies meet the customer's needs?
B. Who is the customer?
C. What are the customers' needs?
D. How will our top management team interact with the customer?

 

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