MGT499 Strategic Management
(FEB2017FT-1)
Strategic Management
Cycle
In
this module (and throughout the course) we will be discussing the strategic
management cycle. And although organizations tend to consider organizational
strategy yearly, organizational strategic plans tend to be multi-year endeavors
often looking 5 or more years into the future. Given the typical 5 year
outlook, discuss why companies go through the strategic management cycle yearly
and why this is a good (or bad) idea. Give examples of companies that have
incorporated strategies that took years to realize and discuss how annually
revisiting a company’s strategic direction can influence an organization’s
success in a competitive environment for longer range plans.
Environmental Assessment
As a business student you have likely spent some
time learning about applications of PEST (and/or PESTEL), Porter’s 5 forces,
and SWOT analysis over the years. These
are useful tools for understanding the environment in which a given organization
might find itself embedded. SWOT
analysis is useful for understanding the organization itself on a more
micro-level scale.
Discuss to what degree you believe these tools are
actually useful for different sized businesses.
For instance, what should a mom and pop computer repair store consider
doing in the area of strategic analysis?
What about a medium sized retailer?
What about a family?
Is there an optimal organizational size for applying these tools? Give some evidence to support your key points.
Strategy Planning and Formulation
Companies can pursue a lot of different strategies
for dealing with a particular problem.
During strategy formulation and planning, competing strategies are often
considered and an attempt is made to identify the optimal mix of
strategies. Let’s discuss some of the
technology and marketing strategies of the major cell phone manufacturers. What are some strategies that have been
helpful in making some companies (Like Apple and Samsung) more successful than
others?
Strategy Implementation and Evaluation
Strategy implementation and evaluation are important
aspects of the strategic management process.
Consider an industry rooted in innovation (such as the cell phone
industry) and the top competing companies that use an innovation leadership
strategy. How do you suppose such
companies (like Apple and Samsung) manage the implementation of continuous
innovation? Discuss implementation
barriers that companies considered to be leaders of innovation face (or have
faced). Provide some evidence to support
your arguments.
Reflective Discussion
Please take some time to reflect on what we have
covered this session. Have you learned
anything that you will be able to apply at work either now or in the future?
