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.
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?
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?
Such companies
also measure performance in terms of the degree and the speed of growth.
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?
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.
