Reference no: EM133699061

Assignment: Strategy Formulation & Strategic Thinking- External Environment, Power / Weakness & Decision Models

Overall Guidance:

Focus on a series of questions in the areas of Process (steps to be taken), Strategic Thinking (current theory), and Decision Models (decision making methodology. The student should organize their main thread by using the bolded headings provided and then respond to the question. The student will post a reply to a single main thread and should organize their reply by using the bolded headings provided.

Discussion Thread: Strategy Development, Strategy Decisions, and Decision Models

Developing strategy begins with thinking strategically and knowing what the key decisions are. The decision models that you employ will directly impact the quality of the decisions you make so understanding them is critical.

Use the following outline:

1) Introduction

2) Process: Business Strategy Development - What is the process for developing a business strategy? Discuss the process in no less than 200 words.

3) Strategic Thinking: Key Decisions - What are the key decisions necessary for making strategy choices and why are they important? Discuss the key decisions and their importance in no less than 150 words.

4) Decision Model - What are my current decision models and how do they aid / hinder this process. Discuss your current decision models and how they aid / hinder the strategy development process in no less than 150 words.

5) Conclusion

Use the following outline:

1) Summary of Key Points
2) Evaluation of the Quality of the Publication
3) Evaluation of the Quality of the Author(s)
4) Where this fits into the discussion

Task

Evaluating the external environment that the company does business in is critical to the process of developing a company's strategy. When evaluating the external environment, it is important to understand key sources of power or weakness that exist. Decision models continue to impact strategy development and should continuously be evaluated, and others considered.

For your main thread, perform the following:

A. Discuss the process of evaluating the external environment.
B. Discuss a key source of power or weakness.
C. Discuss your current decision model(s) and others that are being considered.
D. Develop an Annotated Bibliography for the additional references used in your discussion.
E. Support all of your factual assertions with citations.