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Master Course Stragegic Management Assignment
Master Course Stragegic Management Assignment
Task 1 ................................................................................................................................ 3
Task 2 ................................................................................................................................ 4
Task 3 ................................................................................................................................ 6
Task 4 ................................................................................................................................ 8
Task 5 .............................................................................................................................. 10
Task 6 .............................................................................................................................. 11
Task 7 .............................................................................................................................. 13
Question 1
What are the characteristics of the current competitive landscape? What two factors are
result, managers making strategic decisions must adopt a new mind-set that is global in
orientation. Firms must learn to compete in highly chaotic environments that produce
disorder and a great deal of uncertainty. The two primary factors that have created the
current competitive landscape are globalization of industries and markets and rapid and
successful, they must be able to meet or exceed global performance standards (in terms of
such factors as quality, price, product features, speed to market) and be able to keep up
with both the rapid pace of technological change as well as the rapid diffusion of
innovation. A term often used to describe the new realities of competition is hyper
competition, a condition that results from the dynamics of strategic moves and
competition.
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Question 2
What are vision and mission? What is their value for the strategic management process?
Vision is the actual declaration of your final thoughts for the institute or for the
globe with the purpose of which you can force through it.
Mission is the strategic plan which links the present with future b view that the
product or service provided are for where and how as well as who is utilizing we can
It is one important factor which the all organization should have but as mission
and vision for both this institution can developed as viewing on their activities they are
carrying and the objective for which they are come up with let’s check the vision e.g. Of
profit making and nonprofit making organization this NPO’s Vision statement of Stokes
Eye Clinic in Florence, South Carolina, is “Our vision is to take care of your vision.”
management.” Now the profit making organization. “It is the vision of the California
Energy Commission for Californians to have energy choices that are affordable,
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Commission” and this also second example To be the first choice in the printed
communications business, the first choice is the best choice, and being the best is what
Atlanta Web pledges to work hard at being- every day!” . . . . Atlanta Web Printers, Inc.
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Question 3
The remote environment has a variety of factors that compromise any type of
beyond, and usually irrespective of, any single firm’s operating situation—economic,
social, political, technological, and ecological factors” (Pearce & Robinson, 2005). As
the world changes so do, the trends with clothing books and other leisure activities that
people like to do. This type of environment presents the firm’s with opportunities threats
and constraints. In the economy today it is hard for contractor has to keep their business
going because of the slow times. For example in Gatlinburg Tennessee there are usually
a few layoffs because of the slow activity during the winter months. Being in construction
during these down times is not an easy task because many people or businesses are not
looking for repairs or improvements for the next season. The industrial environment has
factors that influence a firm’s prospects originates within the environment of the industry
including the entry barrier’s competitor rivalry the availability of substitutes and the
bargaining power of buyers and suppliers. The operating environment comprises factors
that influence a firm’s immediate competitive situation along with competitive position
customer profiles creditors suppliers and the labor market. All of these factors will create
challenges that the business must face throughout the experience. This will allow the firm
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to attract or acquire the needed resources and allow the business to earn a profit by
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Question 4
Discuss whether strategic management is necessary for knops based on your personal
opinion.
Strategic management state that “it enable an enterprise to attain its goals through
cross functional decision, it is art and science for formulating, implementing and
evaluating concept”.
The emergence of strategic management can be traced back to the 1950s, when
Selznick (1957) introduced the need to bring an organization’s ‘internal state’ and
‘external expectations’ together for implementing policy into the organization’s social
structure. Andrews (1971) defined strategy as the balance of actions and choices between
further conceptualized the internal and external analysis into a structured matrix known
as the SWOT framework, which enquires into the strengths, weaknesses, opportunities
framework in some organizations today because it has a long history in the strategic
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management field (Mintzberg et al. 1998). More importantly, the framework is required
when it is used, and very little specialized skill involved in facilitating the strategy
often operate under tremendous financial constraint as a result of the public sector reform
movement. Also, it requires more knowledge and skills to manage effectively the
combination of both paid employees and volunteers in NPOs than it does to manage
effectively an entirely paid staff or a staff consisting solely of volunteers. Thus, the
provide sufficient strategic insights and analysis for nonprofit decision-makers remains
continued, the SWOT framework began to proceed down two separate ways, with one
path representing opportunities and threats, and the other focusing on strengths and
weaknesses.
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Question 5
What are stakeholders? How do the three primary stakeholder groups influence
organizations?
Stakeholders are the individuals, groups, and organizations that affect a firm's
vision as well as mission. They are affected by the strategic outcomes that the firm
achieves. There are three primary stakeholder organizations: capital market, product
shareholders. They are more influential based on the more shares they own in the
company. Product market stakeholders are the supplies and the customers that have
shared interests in the company. The organizational stakeholders are the employees. The
employees expect the company to supply a good work environment, while the company
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Question 6
A strategic leader is one who carefully weighs available options and positions the
company for growth by taking action. This leadership style is dynamic by nature and
Decision Making
A strategic leader excels in decision making. The ability to see the intricacies of
a situation and find the best possible solution is an important skill for any leader. In
addition, this type of leader also knows when to take calculated risks that will further the
goals of the company. Being able to adapt to marketplace changes and take advantage of
People Skills
People skills are necessary in any leadership position. Not only do you have to
manage your workforce, you also have to deal with customers and clients. Having the
ability to converse easily, get your point across and motivate others translates into being
the type of person that people will naturally follow. Strategic leaders typically display
very strong people and communication skills and are comfortable communicating what
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Driving Force
A company has to have a strong driving force behind it in order to sustain growth
and profitability. A strategic leader takes an active role in the company and acts as the
driver to steer the company down the right path for success. A driving personality has the
ability to motivate others, keep them on task, and pay attention to the end goal. A strategic
leader may delegate responsibilities to others, but they never fade into the background at
a company.
Goal Setting
If a company is going to succeed, goals must be set and attained. A strategic leader
surveys the current marketplace, looking for growth opportunities. Once they spot where
the company needs to go, they set goals to position the company to achieve that growth.
While most businesses have at least some goals to attain, a strategic leader will
consistently set new goals and new benchmarks to keep the company on the right path
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Question 7
What is value? Why is it critical for the firm to create value? How does it do so?
for which customers are willing to pay. It is critical for the firm to create value for its
customers because that will lead them to purchase the product and ultimately, be the
source of above-average returns for the firm. Firms with a competitive advantage offer
value to customers that is superior to the value competitors provide. Firms create value
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References
1. Argote, L., & Ingram, P. (2000). Knowledge transfer: A basis for competitive
150–169.
2. Baldwin, T. T., & Danielson, C. C. (2000). Building a learning strategy at the top:
5. Berman, S., Down, J., & Hill, C. (2002). Tacit knowledge as a source of
55–71.
7. https://www.jstor.org/stable/2486151
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