Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Management Expert

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

Have any Question? 


Related Questions in Business Management

You have been hired as a marketing consultant to

You have been hired as a marketing consultant to Johannesburg Burger Supply, Inc., and you wish to come up with a unit price for its hamburgers in order to maximize its weekly revenue. To make life as simple as possible, ...

What are the primary sources of information in

What are the primary sources of information in counter-terrorism? How much of data used are from open sources? What types of collection methods are used at the nation, state, and local levels? What role does disinformati ...

An extremely important aspect of being a valuable project

An extremely important aspect of being a valuable project manager within an organization is the ability to offer advice to decision makers about whether or not to pursue a project in the first place.  As such, the first ...

Part 1 determine your ip addresslook up the difference

Part 1: Determine your I/P address Look up the difference between public and private IP addresses.  Create a word processor document and explain, in your own words, the difference between the two.  Then determine your pu ...

Discussion topicconsider the story of laura sardina

Discussion topic Consider the story of Laura Sardina presented at the beginning of Chapter 8 when responding to this week's Discussion. • How is Laura's behavior indicative of role confusion as discussed by Erik Erikson' ...

Discriminationdraw simple labor supply and demand graphs

Discrimination? Draw simple labor supply and demand graphs for the occupations of nurses and surgeons to show the labor market in each profession. Assume that some workers prefer to do surgery for a living, and some pref ...

Multiplant monopoly consider a monopoly that faces the

(Multiplant Monopoly) Consider a monopoly that faces the demand curve P=120-3Q, where Q =q1+ q2 is the total output from the two plants operated by the firm. The two plants are characterized by the total cost functions T ...

In consideration of daltons 1997 article are competency

In consideration of Dalton's (1997) article "Are Competency Models a Waste?," what are your immediate thoughts? For example, if you were a training and development specialist for your own organization, how might you go a ...

Management ethicsbulldifferentiate between ethics and

Management Ethics • Differentiate between ethics and ethical behavior. • Why are ethical practices and corporate social responsibility critical issues for contemporary managers? • Provide an example of how stakeholder's ...

Business management forum posti need an 200 word reply to

Business Management Forum Post I need an 200 word reply to each of the following two forum post made by my classmates: Forum #1[1] Functional work environments require effective communication. Friendly work environments ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen