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Introduction:

For this task, you would use “Advanced Strategic Corporate Management,” the Marketplace simulation from Innovative Learning Solutions. You would require finishing participation in the simulation prior to finish this task.

Two management capabilities most sought after by employers are the ability to think strategically and the ability to drive results. Aim of this task is to have you bring your focus to bear on these two capabilities.

Scenario:

Suppose you are employed in the company providing service in a healthcare, lodging, or retail trade industry. President of your company has expressed concern about company’s ability to remain competitive and has asked you to develop the program to improve the strategic management activities within the company. President feels that the planning should be more sophisticated and must utilize the most present planning concepts. Whole organization should be more closely aligned to the company’s mission, and execution of the plan should be more effective.

You are asked to develop a strategic plan for your company and the business report describing the components of your plan by discussing the strategic management process and describing how the plan must be executed to achieve sustainable dominant competitive advantage.

Task:

A.  Estimate industry environment for your company by doing the following:

1.  Discuss one dominant economic feature of your industry.

2.  Analyze the impact on industry profitability of the most significant force driving change in your industry.

a.  Describe how you plan to provide for that force in your strategic plan.

3.  Discuss two significant differentiating competitive characteristics of your industry.

a.  Analyze where you want your company situated on a strategic group map drawn using these differentiating competitive characteristics.

4.  Estimate two key factors that will impact your company’s success.

5.  Analyze the impact that each of the five types of competitive forces will have on competition in your industry.

B.  Develop a strategic plan for your company by doing the following:

1.  Develop the effective vision statement that fits your industry.

2.  Develop a mission statement.

3.  Develop a distinctive competency to distinguish your company from competitors.

4.  Describe how you will capitalize on a significant market opportunity.

5.  Analyze one external threat to your company.

a.  Recommend actions to address the threat.

6.  Propose one business-level financial objective that fits your company and situation. Include the following in your proposal:

•  How you will measure achievement of the objective

•  A strategy for achieving the objective

7.  Propose one functional-level strategic objective that fits your company and situation. Include the following in your proposal:

•  How you will measure achievement of the objective

•  A strategy for achieving the objective

C.  Discuss how you will execute your company’s strategic plan by doing the following:

1.  describe how you will use the principal managerial components in the strategy execution process.

2.  Demonstrate the actions you will take to closely align the entire company’s efforts to the company’s mission.

3.  Analyze how you can apply two theories of motivation that are proven to help individuals and teams achieve objectives.

4.  Discuss organizational considerations for structuring the work effort to successfully execute your strategic plan.

5.  Discuss present and emerging organizational characteristics that might contribute to successful execution of your strategic plan.

6.  Recommend an approach leaders must use to make corrective adjustments during your company’s strategy execution.

D.  If you use sources, include all in-text citations and references in APA format.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M91442

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