Reference no: EM132518191
Description
In most units, a selection of the Assurance of Learning exercises from the textbook will be assigned. These are intended to ensure the readings are understood as the concepts studied will be incorporated into the larger projects.
Exercise 1: Formulate Individual Strategies
Purpose
Individuals and organizations are alike in many ways. Each has competitors, and each should plan for the future. Every individual and organization faces some external opportunities and threats and has some internal strengths and weaknesses. Both individuals and organizations establish objectives and allocate resources. These and other similarities make it possible for individuals to use many strategicmanagement concepts and tools. This exercise is designed to demonstrate how the SWOT Matrix can be used by individuals to plan their futures. As one nears completion of a college degree and begins interviewing for jobs, planning can be particularly important.
Instructions
Construct a SWOT Matrix. Include what you consider to be your major external opportunities, your major external threats, your major strengths, and your major weaknesses. An internal weakness may be a low grade point average. An external opportunity may be that your university offers a graduate program that interests you. Match key external and internal factors by recording in the appropriate cell of the matrix alternative strategies or actions that would allow you to capitalize on your strengths, overcome your weaknesses, take advantage of your external opportunities, and minimize the impact of external threats. Be sure to use the appropriate matching notation in the strategy cells of the matrix. Because every individual (and organization) is unique, there is no one right answer to this exercise.
Exercise 2: The Role of Boards of Directors
Purpose
This exercise will give you a better understanding of the role of boards of directors in formulating, implementing, and evaluating strategies.
Instructions
Identify a person in your community who serves on a board of directors. Make an appointment to interview that person, and seek answers to the following questions. Summarize your findings in a 5-minute oral report to the class.
• On what board are you a member?
• How often does the board meet?
• How long have you served on the board?
• What role does the board play in this company?
• How has the role of the board changed in recent years?
• What changes would you like to see in the role of the board?
• To what extent do you prepare for the board meeting?
• To what extent are you involved in strategic management of the firm?
• How many person serve on the board?
• Is the business owner or CEO also the chair of the board?
Textbook: Strategic management: concepts and cases-a competitive advantage approach by Fred r. David, Florence, Forest r. David - Sixteenth edition