Explain the specific steps to apply your recommendation

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Reference no: EM133680133

Homework

Overview

This homework introduces you to the strategy development process, which sets the stage for a strategic plan. The purpose is to apply management principles to create management plans that include strategy formulation, business analyses and industry trends, and organizational characterization. This type of planning puts management theory into practice.

Purpose

Using the case study you selected, research the company and its industry (that is, companies in the same line of business). Rely upon course readings about 21st-century management practices, as well as additional research in the Strayer Library and on the Internet. The Library Guide provides information about using resources for your research.

Instructions

I. Examine the company's current business strategy and development supported by examples from research.

A. Business strategies may include what differentiates the company, its position around technology, its organizational characteristics, and so on.

B. Your examination of the company's strategy includes how it approaches the problem or issue addressed in the case study.

C. Your discussion must reflect a correct understanding of the concept of strategy (distinct from tactics).

II. Evaluate the effectiveness of strategies used by industry competitors to address business problems or issues. Base your response on the following:

A. Research competitors in the industry and describe their competitive strategies.

B. Explain whether these strategies are successful. Provide specific examples.

C. Address whether your chosen company could follow these strategies.

III. Formulate strategies for your chosen company supported by your findings about industry trends and your company's organizational characteristics.

IV. Explain how your recommendation can be implemented and how its success can be measured.

A. Explain the specific steps to apply your recommendation.

B. Suggest a follow-up method for measuring the success of your recommendation.

Reference no: EM133680133

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