Reference no: EM13960152 , Length: word count:3000
The learning objectives of the assignment are to:
- Develop your skills in relation to analysing and interpreting complex company, competitive, and industry environments;
- Apply Strategic Management theory to complex organisational contexts.
- Build confidence in making strategy decisions based on key strategic issues and techniques, with respect to a competitive environment.
- Develop your individual skills in terms of formal report writing, analysis, critical reflection, and develop further effective communication skills.
The report has two main elements:
Part 1: Strategic Analysis of the purpose, internal, and external environments of the organisation that form the basis for the recommendations made in next part, ‘strategic formulation / choice';
The first stage is strategic analysis, where the aim is to achieve an understanding of the key strategic issues, both externally and internally, that are likely to influence the performance of the company into the future. The purpose of strategic analysis is not to provide answers but to help us understand the issues. In other words, using appropriate frameworks that allow us to identify, classify, and understand the principal factors relevant to strategic decisions.
Students are required to carry out extensive research to update the information provided, in order for a full strategic overview to be formed. It is suggested that secondary data sources are extensively utilised e.g. electronic library sources/hard copy data/articles in academic journals/business press such as the Financial Times and the Economist. NB The ‘popular press' should not be used (i.e. The Sun would not traditionally be classed as "business press"). Wikipedia references are not considered to be of the required standard and hence should not be included.
Part 2: Strategy Formulation / Choice - Should contain recommendations and a rationale for those recommendations.
The second stage of this research will concern the development of a range of strategic options, their evaluation and the selection of the ones to be implemented.
Various models and tools that are part of strategic management theory may help you in your analysis. Additionally if there is a key issue that has received research attention in management journals, students are encouraged to introduce this into the debate presented in their reports.
Remember, as in the real world, understanding is only achieved by interpretation of the analysis undertaken, and it is up to you to present a well justified and logical argument for the strategic plan presented. Justification should be made by referring to the relevant literature, or additional research.
General Advice
It is important that you do not focus on the number of tools of analysis used.
We are often asked "how many tools should I use"? While there will be a critical mass of analysis that has to take place (facilitated by the tools of analysis), it the quality of the argument presented that will determine the final mark. Hence it is the data/interpretation of the data that is important and not the volume of tools of analysis used by groups.
A rough outline of a report is provided on Blackboard to help students structure their reports.
As in all decision making in business, generally there are no right and wrong solutions. Good strategic decisions are generally recognised as those where there has been generation of several alternative strategies, consideration of the likely outcomes from adopting each alternative, and a convincing justification for why the chosen strategy is likely to be more effective than the other alternatives.
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