H/602/2330: Management - Importance of External Factors Affecting an Organization - Strategic Management Assessment Answer

Strategic Management Assessment Answer

1. Explain and examine the external factors affecting your chosen organisation? How important are they for a company’s sustainability? Analyse the major changes taking place in the external environment that will affect strategy of your chosen organization. H/602/2330:
2. Identify the important stakeholders of your chosen organisation, analyse the needs and expectations of these stakeholders, including how they can influence Strategic decision making in the organisation.
3. Use appropriate tools, for e.g. value chain analysis, Porter’s Five Forces, Boston growth-share (BCG) matrix, SWOT analysis, etc. to analyse and review where your own organisation is positioned in the marketplace with respect to its current business plans? Thereafter, evaluate the competitive strengths and weaknesses of your chosen organisation’s current business strategies. H/602/2330:
4. Use any two modelling tools to develop strategic options for your chosen organisation, for e.g. you can choose Ansoff matrix strategies; vertical, backward and forwards integration; horizontal integration; differentiation; cost leadership; Mintzberg’s strategies (deliberate, emergent); leadership and differentiation; etc. H/602/2330:
5. Develop comparative activities between your chosen organisation with another competitor in the market. Thereafter, create options to form the basis of the future organisational strategy of your chosen organisation.
6. What are the key factors you would consider while constructing a strategy plan for your chosen organisation. Based on the key factors identified, propose a suitable structure for a strategy plan that ensures appropriate participation from all the stakeholders of the organisation. H/602/2330: Based on the proposed structure of strategy plan of the organisation, develop criteria by reviewing potential options available for developing a robust strategy plan. Thereafter, construct an agreed strategy plan that includes all resource implications.
7. Explain the core values (ethical, cultural, environmental, social and business) of the chosen organisation and compare these with the current business objectives of the organisation? H/602/2330:
8. Based on core values alignment with business objectives, as stated in Q.7, develop appropriate vision and mission statements of the chosen organisation. In further alignment with the vision and mission statements of the organisation, produce agreed future management objectives of the organisation. Finally, develop measures to evaluate the strategy plan of the organisation?
9. Based on the constructed agreed strategy plan designed by you in Q.6 for your chosen organisation, develop a schedule for implementing this strategy plan; and also design monitoring and evaluation systems for implementing the strategic plan of the organisation. As stakeholders play a vital role in influencing business strategies, create an appropriate dissemination process to gain their commitment and approval of the strategic plan.

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