Module 1 Homework Assignment for MGT 494: Strategic Management.

Hitt, M., Ireland, R.D., & Hoskisson, R. (2013). Strategic management: Concepts and cases: Competitiveness and globalization (10th ed.). Cengage Learning. Preface and Chapter 1.

PART I

Directions: Please answer each of the following questions in complete sentences. Your submitted paper should be four to five APA formatted pages. Be sure to reference your textbook to indicate your sources.

1. Compare and contrast the following: strategic competitiveness, strategy competitive advantage, above-average returns, and the strategic management process.

2. What are the characteristics of the current competitive landscape? What two factors are the primary drivers of this landscape? Cite and source your answer.

3. According to the I/O model, what should a firm do to earn above-average returns? Why did you choose the answer you selected?

4. What does the resource-based model suggest a firm should do to earn above-average returns? Explain your answer.

5. Describe are vision and mission. What is their value for the strategic management process? Provide at least two examples.

6. Describe stakeholders. How do the three primary stakeholder groups influence organizations?

7. How would you describe the work of strategic leaders? Provide an example of strategic leadership.

8. Explain the elements of the strategic management process. How are they interrelated?

PART II

Directions: Please review the question(s) below and write a two to three page essay. Please apply APA formatting with in-text citations, a reference list, and double-spacing. Please visit the Academic Resource Center for help with APA format.

1. Business success is often tied to effectively managed strategies. Using the Internet, study Starbucks' current performance. Based on analysis, do you judge Starbucks to be a success? Why or why not?

PART III

1. After watching the required video in the lecture notes on change, write a two page APA formatted paper in which you:

• identify a situation in which you had to either adapt, or face significant consequences,
• identify the method you choose and what factors played into your decision, and
• if you would do anything different should you face a similar set of circumstances again.

PART IV: Journal

Write a two page APA formatted paper in which you identify what you think are the most important learning objectives for this module and whether you met them or not, and what you are hoping you will personally take away or gain from this course.