Assume that you are employed in a company providing service in a healthcare, lodging, or retail trade industry. The president of your company has expressed concern about the company’s ability to remain competitive and has asked you to develop a program to improve the strategic management activities within the company. The president feels that the planning must be more sophisticated and should utilize the most current planning concepts. The entire organization must be more closely aligned to the company’s mission, and execution of the plan must be more effective.
You have been asked to develop a strategic plan for your company and a business report explaining the components of your plan by discussing the strategic management process and describing how the plan should be executed to achieve sustainable dominant competitive advantage.
A. Evaluate the industry environment for your company by doing the following:
1. Discuss one dominant economic feature of your industry.
2. Analyze the impact on industry profitability of the most significant force driving change in your industry.
a. Explain how you plan to provide for that force in your strategic plan.
3. Discuss two significant differentiating competitive characteristics of your industry.
a. Analyze where you want your company situated on a strategic group map that you draw using these differentiating competitive characteristics.
Note: The discussion should include the map that you drew for the analysis.
4. Evaluate two key factors that will impact your company’s success.
5. Analyze the impact that each of the five types of competitive forces will have on competition in your industry.
Course Mentor Notes (Please refer to Strategy Text Chapter 3 & 4):
Select an existing company, not a hypothetical or planned enterprise. The company should ideally be one with which you have some familiarity, but is not required.
It is strongly suggested that the student select a for-profit, piblicly traded...