As you learned in Lesson 1, managing strategically involves formulating strategic responses and putting them into action. In Lesson 2 you learned about functional strategies (also called operational strategies), competitive strategies (also called business unit strategies), and corporate strategies. Let’s now discuss implementing strong competitive and functional strategies to exploit resources, capabilities, and core competencies.

Respond to the following:

1. What functional strategies does an organization need?

2. What might provide the basis upon which an organization decides on a competitive strategy?

3. Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?

The questions in Part A refer to the material discussed in Lesson 5 of this course.

As you learned in Lesson 1, managing strategically involves formulating strategic responses and putting them into action. In Lesson 2 you learned about functional strategies (also called operational strategies), competitive strategies (also called business unit strategies), and corporate strategies. Let’s now discuss implementing strong competitive and functional strategies to exploit resources, capabilities, and core competencies.

Respond to the following:

1. What functional strategies does an organization need?

2. What might provide the basis upon which an organization decides on a competitive strategy?

3. Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?

Part B

The questions in Part B refer to the material discussed in Lesson 6 of this course.

In Lesson 5 you learned about functional and competitive strategies, including how implement these strategies to exploit resources, capabilities, and core competencies. It is now time to delve more deeply into corporate strategy, with special attention paid to growth strategies.

Respond to the following:

1. Indicate how corporate strategy is related to the other organizational strategies and describe each of the three (3) corporate strategic directions.

2. Access the following article using ProQuest, the Ashworth College online library:

Anonymous (24 July 2012). Campbell Outlines Progress on Strategies, Sets Stage for Long-Term Growth. Business Wire [New York], n.p.

NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read.

Respond to the following.

• What are some of the growth strategies Campbell's will implement?

3. Provide two (2) other suggestions for growth strategies that Campbell’s might utilize.

Part C

The questions in Part C refer to the material discussed in Lesson 7 of this course.

Again access the following article using ProQuest, the Ashworth College online library:

Anonymous (24 July 2012). Campbell Outlines Progress on Strategies, Sets Stage for Long-Term Growth. Business Wire [New York], n.p.

NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read.

In Lesson 6 you learned about growth strategies. One of Campbell’s growth strategies is to expand its international presence, particularly in emerging markets. Think about this in relation to what you have learned about international strategies.

Respond to the following:

1. What are the potential advantages and disadvantages of Campbell's intended expansion in emerging markets?

2. Do you believe Campbell’s is using a multicountry strategic approach or a global strategic approach? Fully explain your reasoning.

Part D

The questions in Part D refer to the material discussed in Lesson 8 of this course.

To round-out your understanding of the strategic management process, this lesson applied the concepts to entrepreneurial ventures and small businesses, as well as not-for-profit organizations. Demonstrate your knowledge of entrepreneurial ventures and small businesses by responding to the following:

1. Describe the characteristics of an entrepreneurial venture and a small business.

2. Why are these types of organizations important?

3. Describe the overall approach to the strategic planning process in entrepreneurial ventures and small businesses.

4. Explain the advantages and disadvantages of strategic planning with entrepreneurial ventures and small businesses.