Essay About Business Strategy And Major Strengths

Mgnt 7090 – Business Strategy – Guidelines for Individual Project
MGNT 7090 – BUSINESS STRATEGYGUIDELINES FOR INDIVIDUAL PROJECTThis individual project is an opportunity to refine your analytical and strategy formulating skills and apply them to a practical situation—preferably one that has benefit to you and your career. For most students, this will be the organization for which you have an inherent interest. It might be your family’s business or a company that you have worked for, or it could be an organization for which you would like to work in the future. It is probably best to not choose a famous international company like Starbucks, Alibaba, Lenovo or Wal-Mart, because it is difficult to say something original about these companies. But if you really have a genuine interest in one of these companies, you may choose one. You are to take on the role of a consultant and devise a plan to improve and implement the strategy for the company you choose. Note, this is a rough guideline, and you may modify the structure as you see fit. The basic components of the project are as follows:Overview (~1-2 pages) — Give an overview of the firm, including a brief history, its strategy, its tactics, its primary competitors and its goals. Questions you may consider: What is the ownership structure? Is it a family organization?  Is it a government bureau or department?  Is it a state-owned enterprise (SOE)? Is it a conglomerate or a division of a larger organization? What are the major strengths and weaknesses? How are decisions made?  How is strategy formed?  What are major issues or problems the organization is facing?External Analysis (~1-3 pages) — Analyze the general and competitive situation facing the organization.  Do an industry (5 forces) analysis. Questions you may consider: Which of the forces is the most relevant to the firm’s performance? What are the major threats?  Are there any potential opportunities that may be taken advantage of in the near future?  Is the environment good?  Is it bad?  Is it stable? What can be done about the environmental situation the firm is facing?References: The Management of Strategy, Chapters 1 & 2Internal Analysis (~1-3 pages) — Analyze the internal resources and management processes of the organization.Questions you may consider: What are the major strengths and weaknesses of the organization? What is the core competence (capabilities that are valuable, rare, difficult to imitate, and without substitutes) of the company?  Does the organization have a sustainable competitive advantage?  What is the main source of value-added and profit for the company (business model)?  What way is the business adding value that cannot be matched by competitors? Is it sustainable? Is it under threat from structural or technological factors?