Course eTextbook: David, F. R., & David, F. R. (2015). Strategic management: A competitive advantage approach, concepts and cases [VitalSource Bookshelf version] (15th ed.).
1. Within this unit, we discussed how businesses may need to adapt to changing times in order to stay competitive. Their initial practices may have worked well previously, but may not serve them well in the long term. The newspaper industry is one that may face extinction. Explain why they may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses. Your response should be at least 200 words in length.
2. Colleges and universities, like all business, have strengths, weaknesses, and competitors. What would you consider to be an online university's internal strengths and weaknesses? Why? Also, who would you say are the competitors to online universities? What are three external opportunities and three external threats? Your response should be at least 200 words in length.
3. Explain how you would motivate managers and employees to implement a major new strategy. Your response should be at least 200 words in length.
4. Explain the process of an internal audit and how an organization can identify their strengths. Your response should be at least 200 words in length.
5. Strategy formulation focuses on effectiveness, whereas strategy implementation focuses on efficiency. Which is more important-effectiveness or efficiency? Give an example of each concept, and explain your answer. Your response should be at least 200 words in length.
6. Describe a conflict situation that requires you to use 1) avoidance, 2) defusion, and 3) confrontation in order to solve the problem. Your response should be at least 200 words in length.
7. Define and give an example of business analytics. Why is this technique becoming so widely used in organizations today? Your response should be at least 200 words in length.
8. Describe the relationship between annual objectives and policies. Your response should be at least 200 words in length.
9. Discuss bribery. Would actions, such as politicians adding earmarks in legislation or pharmaceutical salespersons giving away drugs to physicians, constitute bribery? Identify three business activities that would constitute bribery and three actions that would not. Your response should be 75 words in length.
10. If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If not, how would you ensure that your employees were following ethical business standards? Your response should be 75 words in length.
11. How can firms ensure that their code of business ethics is read, understood, believed, remembered, and acted on rather than ignored? Your response should be 75 words in length.
12. Why should firms formulate and implement strategies from an environmental perspective? Your response should be 75 words in length.
13. What do you feel is the relationship between personal ethics and business ethics? Are they or should they be the same? Your response should be 200 words in length.