Reference no: EM132903172

Strategic Management and Competitiveness

In this assignment, you will decide on strategic management plans, a company's strategic competitiveness, and the best model for above-average returns.

In current market conditions, companies need to gain and then maintain a competitive edge over their competitors. They do this by employing a compelling and dynamic strategic management process to create a strategy that helps them achieve their goals before one of their competitors does.

Select any two of the main questions and address all of their bullet points:

Question 1:

Discuss the following questions in relation to strategic management:

What factors make up this process?

How important is it to change, and what criteria determine the changes in a strategic management plan?

Question 2:

Discuss the following questions in relation to strategic competitiveness:

How would you describe the twenty-first century competitive landscape and the various challenges it brings to businesses?

Why will a traditional mindset not lead a company to strategic competitiveness and what values must managers adopt to overcome these challenges?

Question 3:

Discuss the following questions in relation to above-average returns:

What are the differences between industrial organization (I/O) and resource-based models of above-average returns?

Which is a more successful model?

Which model will you use to help shape your strategic management plan and why?

Question 4:

Applying your understanding of strategic management, answer the following questions:

How can business-level and corporate-level strategies be best used to gain a competitive advantage and earn above-average returns? Explain.

What are the advantages and disadvantages of competitive rivalry?

How can a company use competitive rivalry to its advantage? Provide examples.

Under what conditions would you choose a single or dominant business corporate-level strategy versus a more diversified strategy and why? Discuss.