Identifying the factors that characterize a company’s
strategic situation is the basis for a strategy process. These factors can be
classified as strengths, weaknesses, opportunities, and threats. Analyzing
these factors using various tools enables a manager to formulate strategies
more effectively. In the business world this will consist of using long-term
objectives as a framework: the strengths, weaknesses, opportunities and threats
of the company. In addition some will use a strategic analysis using a tool
known as the Matched Pair Analysis to identify strategies that enable the
company achieve its long-term objective.
a. What are two lessons learned relative to the importance
and effectiveness of environmental scanning?
b. What concepts and analytic tools a business owner be able
to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?
Scenario #2
Developing Grand Strategies
A Grand Strategy can be defined as a comprehensive general
approach that guides a company’s key actions. The Grand Strategy Clusters
matrix is a 2 X 2 cluster of 15 Grand Strategies based on the growth rate of
the general market and the company’s competitive situation in that market.
a. What are two lessons learned relative to the importance
and effectiveness of strategy formulation and choice?
b. What concepts and analytic tools would a business owner
be able to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?
Scenario #3
Creating a Strategic Road Map
Creating a successful and powerful strategic road map that
will lead an organization to its desired milestones is a process that combines
insight with analysis, perception, and vision. A good strategy will take a
company to its modest short-term goals, while a brilliant one would set the
organization on a course designed to capture the future. Based on the long-term
objective, many times a business defines the strategies and the corresponding
goals that would enable the firm to achieve leadership status.
a. What are two lessons learned relative to the importance
and effectiveness of the formulation of action plans and goals?
b. What concepts and analytic tools will a business owner be
able to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?
