...The article focuses on the main aspects of Ansoff analysis. The four strategic options entailed in the Ansoff matrix are discussed along with the risks inherent with each option. The article includes tips for students and analysts on how to write a good Ansoff analysis for a firm. Moreover, sources of findings information for Ansoff analysis have been discussed. The limitations of Ansoff analysis as a strategic model have also been discussed. Introduction The Ansoff matrix presents the product and market choices available to an organisation. Herein markets may be defined as customers, and products as items sold to customers (Lynch, 2003). The Ansoff matrix is also referred to as the market/product matrix in some texts. Some texts refer to the market options matrix, which involves examining the options available to the organisation from a broader perspective. The market options matrix is different from Ansoff matrix in the sense that it not only presents the options of launching new products and moving into new markets, but also involves exploration of possibilities of withdrawing from certain markets and moving into unrelated markets (Lynch, 2003). Ansoff matrix is a useful framework for looking at possible strategies to reduce the gap between where the company may be without a change in strategy and where the company aspires to be (Proctor, 1997). Main aspects of Ansoff Analysis The well known tool of Ansoff matrix was published first in the Harvard Business Review (Ansoff...
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...Strategic Management Plan (Name) (University) (Course) (Tutor) 12th February, 2012. Strategic management Plan Strategic management is a vital craft on the relationship between an organization and its environment. A goods strategy normally enables an organization to compete effectively in a given environment. Every organization is faced with an external environment in which they operate. The environment comprise of a macro environment which is defined by the economic, technological, social and political factors : an industrial environment which is marred by stiff competition and an operating environment which is filled with key player of the various sectors. All organizations are dependant to the environment. Being that the environment is dynamic, it changes fast changing and very turbulent. For organization to survive they have to adapt to these changes, they need to breed excellent strategies to coexist and survive. Strategy has been defined by Thompson and Strickland (1995) as a game plan management has for positioning a company in its chosen market arena, competing successfully to achieve a good business performance. Among other definition strategy is a long term direction for any organization and to achieve a competitive advantage. We need a strategic management plan to implement any strategy. The strategic process is guided as below: Determining the vision and mission of the firm Vision and mission provide direction and scope for the firm’s activities. A good...
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...Strategic choice ‘choosing one action among several actions selected by the firm to respond to the changes in the environment, in order to benefit from opportunities or to avoid unhealthy effects from threats.’ ‘The main intention is to achieve the strategic fit between the organization and it’s environment in order to accomplish the firm’s objectives by using it’s strengths to overcome it’s weakness,.’ Factors to be considered before making a strategic choice 1. 2. 3. An analysis of the environmental analysis 1. SWOT Analysis, 2. PEST Analysis, 3. Market Analysis – (Michael Porter’s five forces of competitive strategies) An analysis of the company’s resources 1. financial resource, 2. human resource, expertise, 3. core competencies, 4. value chain analysis (Michael Porter’s) Portfolio Analysis 1. BCG matrix, 2. PLC, 3. GE screening ( 9 CELL Model) 4. SHELL Directional Matrix) Factors to be considered before making a strategic choice 1. Stake holder expectations. 2. The values and preferences of management decision-makers. 3. The realities of organizational climate. 1. 2. 3. Management style Culture Structure Strategic choices Strategic choices should meet one or all of the following criteria Suitability: refers to considerations as the ability of the strategy to tackle major problems, improve competitive standing, exploit strengths, and the extent to which it meets corporate objectives. ...
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...Strategic Alignment and Core competencies Strategic alignment refers to how an organization can create sustainable competitive advantage by linking its business strategy to its core competencies. This shows how an organization can achieve superior performance by gaining alignment between its environment, strategy, core competencies and Organization structure. There are several frameworks, which can be leveraged in this process to assist a manager in building a high performance organization. The case highlighted how Singapore Airlines(SIA) navigated through the various challenges faced by the airlines industry such as over capacity, commoditization of offering and proliferation of low cost carriers through the execution of its business strategy and dispel the notion that competition advantage can only be created either by Cost leadership strategy or a differentiation strategy. The case show that SIA made a clear strategic choice of giving priority to profitability over growth and leveraged related diversification along with its operational practices, such as continuous people development and rigorous service design as drivers to achieve its strategic choice. SIA had unique challenges of competing solely on international routes due to the absence of domestic routes which acted as a catalyst in driving its goals of being just a little better than its competitors in the value chain and to achieve its strategic choice. The analysis of this case provides an insight into the...
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...Quantitative Strategic Planning Matrix (QSPM) also called the decision stage is a strategic-formulation tool that uses inputs from Stage 1/ Input Stage to objectively evaluate feasible alternative strategies identified in Stage 2/Matching Stage. Stage 1 summarizes the basic input information needed to formulate strategies while Stage 2 or Matching Stage focuses upon generating feasible alternative strategies by aligning key external and internal factors. A QSPM reveals the relative attractiveness of alternative strategies and thus provides objective basis for selecting specific strategies. In order to understand the benefits and limitations of the QSPM tool, it is important to understand the essential attributes needed for a QSPM analysis to be effective and also the steps needed to develop a QSPM analysis. This essential attributes in a QSPM analysis include the development of External Factor Evaluation Matrix (EFE) and Internal Factor Evaluation Matrix (IFE) followed by a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, BCG (The Boston Consulting Group) and finally QSPM. Attributes of QSPM External Factor Evaluation Matrix (EFE): EFE is a strategic tool used to evaluate the external environment of the firm which includes the economic, social, technological, government, political, legal and competitive information. External factors are obtained after an in-depth analysis of the external environment. External factors can be divided into two categories opportunities...
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...Question 1 Explanation on the three tests suggested by Johnson and Scholes for evaluating strategic option In evaluating strategic options, it has been evident that the following steps have to be followed which include suitability, feasibility and acceptability tests for evaluating strategic options. This helps in adopting the proper strategic options for firms and organizations. The test and the models is especially important because the environment in which the organizations operate and the company needs to adopt and formulate new strategies in managing these varied situations (Tsiakkiros and Pashiardis, 2002). In this regards Johns and Scholes have stated that based on the strategic positioning, possible strategy choices are made. In...
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...Name: Course: Tutor: Date: Strategic Analysis of the Kraft Foods Group Executive Summary This writing focuses on evaluating the market analysis for Kraft Food Group which is a leading producer of foods and beverages in the United States of America. The paper lays emphasis on SWOT analysis strategy adopted by the company (Böhm, 2009). From the discussions, differentiation strategy is identified as the main generic strategy behind the organization’s success. However, it is ascertained that some of the strategic decisions taken by the company do not align with the adopted generic strategy. In this regard, a critique of how the strategic choices should be altered in order to align with the generic strategy is given at this stage. The analysis finally ends with a conclusion. Current Environment Company overview Kraft Foods Group is known to be the leading Food and Beverages Company in the US. It operates in approximately 70 countries worldwide with about 98000 employees. Moreover, the company sells its finished products to more than 150 states in Europe, Middle East, Latin America, Africa, and Asian Pacific through its subsidiaries namely; Kraft North America Inc and Kraft Foods International Inc (Allen & Albala, 2007). The Company processes, manufactures and sells packaged food products such as; confectionery, cookies, coffee, cheese products, powdered beverages, juices, desserts, ready-to-cereals, processed meats, and convenient meals. All the above mentioned products...
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...Assignments on Strategic Management (MBA-631) General Instruction: Below are two categories of assignments appearing under Part I and Part II. The first assignment is a group work that requires case analysis and article review, while the second one is also a group work that requires practical fieldwork, which has four alternatives. You are expected to attempt each of them as exhaustively as you can as per specific instructions given corresponding to them. You have to follow the accepted standards and norms of writing a term paper, case analysis and/or article review. Part I: Group Work – Case Study (20%) + Article Review (10%) + Presentation (10%) Case Study (20%) a) Make a team of 5 persons based on your affiliation. b) Capture a case study from any publication source (viz., text books, journal, performance report, magazine, Internet, etc.) regarding one of the following companies: * French Telecom * City Bank * Nokia * Ericsson * Dell Computers Co. * Micro Soft Corporation * Toyota Motors Co. * Wal-Mart * Du Pont Co. | * BBC * Coca-Cola * Pepsi-Cola * Google Corporation * Tata Group * General Motors * Sony Corporation * Shell Oil Company * Exxon Mobil Oil Company | c) Make sure that the case/company you have chosen is not considered by other groups. d) Read the Case/text thoroughly and make a full case study analysis of the company...
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...segments, Ethics and Governance, Financial Reporting and Strategic Management Accounting. In the increasingly complex business environment in which organisations operate, characterised by change, uncertainty and escalating competition, the disciplines of strategy and leadership have become critical to successful organisational performance. The aim of this segment is to link the knowledge of management and financial accounting to the concepts of strategy and leadership. Accountants use a variety of technical information to make decisions for the future of the business within an ethical framework of operation. This segment shows that accounting information, ethics, strategy and leadership are applicable to accountants working throughout the world in diverse organisations. As discussed in Ethics and Governance, accounting as a profession is respected internationally and CPAs are employed worldwide. The segment materials address the needs of candidates operating in different international markets in varying roles. This segment builds upon knowledge gained in the other three compulsory segments of the professional level. The concepts of professional ethics and good governance underpin the segment. Candidates who have previously undertaken the Advanced Audit and Assurance or Strategic Management Accounting segments will be familiar with the use and application of Porter’s five forces model. Those candidates who have studied Strategic Management Accounting will note a number of concepts...
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...Module Handbook [Strategic Management] [19-6B02-00L] Module Leader: Deborah FitzGerald-Moore 2008-2009 Level [6] Undergraduate (September Intake) Faculty of Organisation and Management Events Management Subject Group Faculty of Organisation and Management Sheffield Hallam University, Howard Street, Sheffield, S1 1WB Contents WHAT’S THIS MODULE ABOUT? 1 MODULE TEAM CONTACT DETAILS 1 MODULE OVERVIEW 2 SCHEDULE OF STUDY 3 READING LIST 6 TASK BRIEF 1 - COURSEWORK 8 TASK BRIEF 2 - COURSEWORK 9 Presentation Assessment Criteria Task 1 11 Assessment Decision - Task 1 -Presentation 15 Assessment Decision - Task 2 - Company Report 16 TASK BRIEF 3 - EXAMINATION 17 What’s This Module About? This module is here to help you better understand how business organisations work. It will help you to consider why certain companies or organizations in your chosen sector are successful and some are not. Whilst it will not give you a crystal ball it will hopefully give you a forward looking perspective on your chosen industry and many of its major companies This module will also allow you to integrate the wealth of knowledge you have gained throughout your course. Strategy is manifest in all the functional activities of the company i.e. marketing, operations, human resource management and finance and at many different levels of the company from the Board of Directors down to Heads of Department. Strategic decision making occurs in all types...
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...SYLLABUS STR/581 SYLLABUS SCHOOL OF BUSINESS STR/581 STRATEGIC PLANNING & IMPLEMENTATION MAIN CHARLOTTE CAMPUS 04/01/2013 TO 05/06/2013 Copyright © 2011, 2010, 2009, 2008 by University of Phoenix. All rights reserved. COURSE DESCRIPTION THIS CAPSTONE COURSE INTEGRATES CONCEPTS FROM ALL PRIOR COURSES IN THE PROGRAM. STUDENTS APPLY THE CONCEPTS OF STRATEGIC PLANNING AND IMPLEMENTATION TO CREATE SUSTAINABLE, COMPETITIVE ADVANTAGE FOR AN ORGANIZATION. OTHER TOPICS INCLUDE ENVIRONMENTAL SCANNING, STRATEGIC ANALYSIS, CORPORATE SOCIAL RESPONSIBILITY, IMPLEMENTATION AND EVALUATION, AND RISK MANAGEMENT. POLICIES FACULTY AND STUDENTS/LEARNERS WILL BE HELD RESPONSIBLE FOR UNDERSTANDING AND ADHERING TO ALL POLICIES CONTAINED WITHIN THE FOLLOWING TWO DOCUMENTS: UNIVERSITY POLICIES: YOU MUST BE LOGGED INTO THE STUDENT WEBSITE TO VIEW THIS DOCUMENT. INSTRUCTOR POLICIES: THIS DOCUMENT IS POSTED IN THE COURSE MATERIALS FORUM. UNIVERSITY POLICIES ARE SUBJECT TO CHANGE. BE SURE TO READ THE POLICIES AT THE BEGINNING OF EACH CLASS. POLICIES MAY BE SLIGHTLY DIFFERENT DEPENDING ON THE MODALITY IN WHICH YOU ATTEND CLASS. IF YOU HAVE RECENTLY CHANGED MODALITIES, READ THE POLICIES GOVERNING YOUR CURRENT CLASS MODALITY. COURSE MATERIALS BARNEY, J. B. (2007). GAINING AND SUSTAINING COMPETITIVE ADVANTAGE (3RD ED.). UPPER SADDLE RIVER, NJ: PEARSON PRENTICE HALL. MINTZBERG, H., GHOSHAL, S., LAMPEL, J., & QUINN, J. B. (2003). THE STRATEGY PROCESS: CONCEPTS, CONTEXTS, CASES (4TH ED.). UPPER SADDLE...
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...SESSION 1 Strategic management 3 parts: * diagnosis * choices * deployment part 1 the manager needs to define the positioning of a company according to: its external env, its internal capacities and its stakeholders = scanning the env = exploring and exploiting capabilities part2 based on the diagnosis, the manager determines the different options available at: the corporate level, the business unit level and the operational level = corporate level decisions = business-level decisions = international strategy part3 the manager needs to implement the strategy he has chosen according to: levers, levels in the implementation and resistance to change = strategy evaluation and control = managing change What is a strategy? Strategy is a process, which translates intent into action. Intent analysis decision action. 4 questions to guide the process Intent: what do we want to do? Organizational and individual values Analysis: what can we do? Strengths and weaknesses Decision: what might we do? External opportunities and threats Action: what do others expect us to do? Stakeholders expectancies. Definition of strategy: * A strategy is the general direction in which an objective is to be thought * Strategy is a major organizational plan for action to reach a major organizational objective. * Strategy is a race to one ideal position= * Strategy is the creation of a unique and valuable position, involving a different...
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... (PRINT: Last Name, First Name) Please answer all 10 of the following multiple choice questions by selecting the best answer from other possible “good” answers, by circling the letter next to it. Crossing out a circled response makes that question’s answer wrong. 1) The most basic question(s) in strategy is (are) A) Is strategy important? B) Why do firms succeed or fail? C) Why do firms have varying levels of performance? D) Is strategy important? and Why do firms have varying levels of performance? E) Why do firms succeed or fail? and Why do firms have varying levels of performance? Answer: E Diff: 2 Page Ref: 2 Topic: Explain Why Strategic Management Is Important AACSB: Reflective Thinking Objective: Define strategic management and identify its basic components 2) Bases for understanding strategic management are all of the following except A) managing strategically makes a difference in an organization's performance. B) all organizations encounter changing situations. C) single approaches to strategy development are superior to multiple approaches. D) All of the answer choices are correct. E) None of the answer choices is correct. Answer: C Diff: 3 Page Ref: 3 Topic: Explain Why Strategic Management Is Important AACSB: Analytical Skills Objective: Define strategic management and identify its basic components 3) Strategic management is defined as A) those decisions and actions where organizational members...
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...Wendell K Stephens Strategic MGMT Seg 2 RAND Corporation 1. What made RAND so Conducive to fostering and facilitating strategic thinking and strategic thinkers during the cold war? The original organizational direction of RAND corporations was to allow a small select group of intellectuals who were successful in collaborating with scientific work for the military during and after the World War II. The formation of RAND was initially placed under the guidance of the Air Force, however, the sentiment of senior leaders in the military, government, and intellectuals participating felt that continuing under the umbrella of one of the branches of the military might stagnate the benefit of having a group of “free thinkers” from achieving great results. RAND was given independence to conduct research and this freedom of thought was “guarded” within this group of researchers. RAND attracted creative talent and individuals who were free thinkers who found comfort in not being held to a deadline or driven towards an A or B outcome choice. RAND fostered strategic thinking based on all of the intellectuals from various disciplines like economics, mathematics, research analysis, were placed in an environment with colleagues from the most influential intellectual institutions of the day as well as the federal sector, military and civilians branches of government. RAND received a grant from Henry Ford II ($1,000,000) which allowed the organization to become...
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...“Strategic Management is defined as the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives” (Pearce II & Robinson, 2013, p. 3). The process of Strategic Management consists of nine (9) steps. The first three (3) steps are crucial for an organization’s success: formulating company mission, conducting analysis on internal capabilities and assessment of the external environment factors influencing the company operations. This paper will begin the strategic planning process for ABC Financial Corporation. The paper will outline the ABC Financial Corporation's research approach that will be used for the strategic plan to validate vision statement as well as the sources that will be utilized in performing an external and internal environmental analysis. The organization’s vision statement “presents a firm’s strategic intent designed to focus the energies and resources of the company on achieving a desirable future” (Pearce II & Robinson, 2013, p. 34). The value of the mission statement “is its specification of the firm’s ultimate aims” (Pearce II & Robinson, 2013, p. 42). ABC Financial Corporation’s vision statement is “to be recognized for the unparalleled customer experience” (ABC Vision, 2013, para. 1). ABC’s mission statement reads “With our position of trust and our tradition of integrity, our shared mission is to know our customers and anticipate their needs; advocate and advise; innovate and surprise”...
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