Contents

Task 1 ................................................................................................................................ 3

Task 2 ................................................................................................................................ 4

Task 3 ................................................................................................................................ 6

Task 4 ................................................................................................................................ 8

Task 5 .............................................................................................................................. 10

Task 6 .............................................................................................................................. 11

Task 7 .............................................................................................................................. 13
Question 1

What are the characteristics of the current competitive landscape? What two factors are

the primary drivers of this landscape?

In the current competitive landscape, the nature of competition has changed. As a

result, managers making strategic decisions must adopt a new mind-set that is global in

orientation. Firms must learn to compete in highly chaotic environments that produce

disorder and a great deal of uncertainty. The two primary factors that have created the

current competitive landscape are globalization of industries and markets and rapid and

significant technological change. The implication for business firms is that to be

successful, they must be able to meet or exceed global performance standards (in terms of

such factors as quality, price, product features, speed to market) and be able to keep up

with both the rapid pace of technological change as well as the rapid diffusion of

innovation. A term often used to describe the new realities of competition is hyper

competition, a condition that results from the dynamics of strategic moves and

countermoves among innovative, global firms: a condition of rapidly escalating

competition.

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Question 2

What are vision and mission? What is their value for the strategic management process?

Vision is the actual declaration of your final thoughts for the institute or for the

globe with the purpose of which you can force through it.

Mission is the strategic plan which links the present with future b view that the

product or service provided are for where and how as well as who is utilizing we can

say mission as direction or pathway as it is selected from amongst many possibilities

mission is closely linked to indeed as it depend on strategic planning.

It is one important factor which the all organization should have but as mission

and vision for both this institution can developed as viewing on their activities they are

carrying and the objective for which they are come up with let’s check the vision e.g. Of

profit making and nonprofit making organization this NPO’s Vision statement of Stokes

Eye Clinic in Florence, South Carolina, is “Our vision is to take care of your vision.”

The vision of the Institute of Management Accountants is “Global leadership in

education, certification, and practice of management accounting and financial

management.” Now the profit making organization. “It is the vision of the California

Energy Commission for Californians to have energy choices that are affordable,

reliable, diverse, safe, and environmentally acceptable”. . . . . California Energy

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Commission” and this also second example To be the first choice in the printed

communications business, the first choice is the best choice, and being the best is what

Atlanta Web pledges to work hard at being- every day!” . . . . Atlanta Web Printers, Inc.

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Question 3

Give the concept of general/remote environment.

The remote environment has a variety of factors that compromise any type of

firm’s operating situation. “The remote environment comprises factors originating

beyond, and usually irrespective of, any single firm’s operating situation—economic,

social, political, technological, and ecological factors” (Pearce & Robinson, 2005). As

the world changes so do, the trends with clothing books and other leisure activities that

people like to do. This type of environment presents the firm’s with opportunities threats

and constraints. In the economy today it is hard for contractor has to keep their business

going because of the slow times. For example in Gatlinburg Tennessee there are usually

a few layoffs because of the slow activity during the winter months. Being in construction

during these down times is not an easy task because many people or businesses are not

looking for repairs or improvements for the next season. The industrial environment has

factors that influence a firm’s prospects originates within the environment of the industry

including the entry barrier’s competitor rivalry the availability of substitutes and the

bargaining power of buyers and suppliers. The operating environment comprises factors

that influence a firm’s immediate competitive situation along with competitive position

customer profiles creditors suppliers and the labor market. All of these factors will create

challenges that the business must face throughout the experience. This will allow the firm

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to attract or acquire the needed resources and allow the business to earn a profit by

marketing the goods or services that they offer.

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Question 4

Discuss whether strategic management is necessary for knops based on your personal

opinion.

Strategic management state that “it enable an enterprise to attain its goals through

cross functional decision, it is art and science for formulating, implementing and

evaluating concept”.

A better understanding of the development of strategic management in the light

of the unique non-profit environment is important to NPOs, as it assists non-profit leaders

to select a strategic management concept which is most appropriate to their organizations

in today’s knowledge economy.

The emergence of strategic management can be traced back to the 1950s, when

Selznick (1957) introduced the need to bring an organization’s ‘internal state’ and

‘external expectations’ together for implementing policy into the organization’s social

structure. Andrews (1971) defined strategy as the balance of actions and choices between

internal capabilities and the external environment of an organization. Weihrich (1982)

further conceptualized the internal and external analysis into a structured matrix known

as the SWOT framework, which enquires into the strengths, weaknesses, opportunities

and threats of an organization. The SWOT analysis remains as a strategic management

framework in some organizations today because it has a long history in the strategic

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management field (Mintzberg et al. 1998). More importantly, the framework is required

when it is used, and very little specialized skill involved in facilitating the strategy

formulation process. This is particularly essential to NPOs because these organizations

often operate under tremendous financial constraint as a result of the public sector reform

movement. Also, it requires more knowledge and skills to manage effectively the

combination of both paid employees and volunteers in NPOs than it does to manage

effectively an entirely paid staff or a staff consisting solely of volunteers. Thus, the

efficacy of the SWOT analysis procedure as a strategic management framework to

provide sufficient strategic insights and analysis for nonprofit decision-makers remains

questionable in the non-profit environment. As the development of strategic management

continued, the SWOT framework began to proceed down two separate ways, with one

path representing opportunities and threats, and the other focusing on strengths and

weaknesses.

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Question 5

What are stakeholders? How do the three primary stakeholder groups influence

organizations?

Stakeholders are the individuals, groups, and organizations that affect a firm's

vision as well as mission. They are affected by the strategic outcomes that the firm

achieves. There are three primary stakeholder organizations: capital market, product

market, and organizational. Capital market stakeholders are investors, such as

shareholders. They are more influential based on the more shares they own in the

company. Product market stakeholders are the supplies and the customers that have

shared interests in the company. The organizational stakeholders are the employees. The

employees expect the company to supply a good work environment, while the company

is supposed to use their knowledge to gain competitive advantage.

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Question 6

A strategic leader is one who carefully weighs available options and positions the

company for growth by taking action. This leadership style is dynamic by nature and

requires a high level of commitment and work involvement.

Decision Making

A strategic leader excels in decision making. The ability to see the intricacies of

a situation and find the best possible solution is an important skill for any leader. In

addition, this type of leader also knows when to take calculated risks that will further the

goals of the company. Being able to adapt to marketplace changes and take advantage of

new opportunities as they present themselves is an earmark of being a strategic leader.

People Skills

People skills are necessary in any leadership position. Not only do you have to

manage your workforce, you also have to deal with customers and clients. Having the

ability to converse easily, get your point across and motivate others translates into being

the type of person that people will naturally follow. Strategic leaders typically display

very strong people and communication skills and are comfortable communicating what

needs to be done to make the company better.

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Driving Force

A company has to have a strong driving force behind it in order to sustain growth

and profitability. A strategic leader takes an active role in the company and acts as the

driver to steer the company down the right path for success. A driving personality has the

ability to motivate others, keep them on task, and pay attention to the end goal. A strategic

leader may delegate responsibilities to others, but they never fade into the background at

a company.

Goal Setting

If a company is going to succeed, goals must be set and attained. A strategic leader

surveys the current marketplace, looking for growth opportunities. Once they spot where

the company needs to go, they set goals to position the company to achieve that growth.

While most businesses have at least some goals to attain, a strategic leader will

consistently set new goals and new benchmarks to keep the company on the right path

towards the future.

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Question 7

What is value? Why is it critical for the firm to create value? How does it do so?

Value is measured by a product’s performance characteristics and by its attributes

for which customers are willing to pay. It is critical for the firm to create value for its

customers because that will lead them to purchase the product and ultimately, be the

source of above-average returns for the firm. Firms with a competitive advantage offer

value to customers that is superior to the value competitors provide. Firms create value

by innovatively bundling and leveraging their resources and capabilities.

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References

1. Argote, L., & Ingram, P. (2000). Knowledge transfer: A basis for competitive

advantage in firms. Organizational Behavior and Human Decision Processes, 82,

150–169.

2. Baldwin, T. T., & Danielson, C. C. (2000). Building a learning strategy at the top:

Interviews with ten of America’s CLOs. Business Horizons, 43(6), 5–14.

3. Barney, J. B. (1991). Firm resources and sustained competitive advantage.

Journal of Management, 17, 99–120.

4. Barney, J. B. (1995). Looking inside for competitive advantage. Academy of

Management Executive, 9, 49–61.

5. Berman, S., Down, J., & Hill, C. (2002). Tacit knowledge as a source of

competitive advantage in the National Basketball Association. Academy of

Management Journal, 45, 13–31.

6. Buckley, P. J., & Carter, M. J. (2000). Knowledge management in global

technology markets: Applying theory to practice. Long Range Planning, 33(1),

55–71.

7. https://www.jstor.org/stable/2486151

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