Crafting strategy is an exercise in entrepreneurship and outside-in strategic thinking. The challenge is for company managers to keep their strategies closely matched to such outside drivers as changing buyer preferences, the latest actions of rivals, market opportunities and threats, and newly appearing business conditions. Company strategies can't be responsive to changes in the business environment unless managers exhibit entrepreneurship in studying market trends, listening to customers, enhancing the company's competitiveness, and leading company activities in new directions in a timely manner. Good strategy-making is therefore inseparable from good business entrepreneurship.
Before you start the simulation, you should develop a strategy to follow. Check out chapter 5 of the Crafting strategies text book and pick one of the five different strategies to follow — and stick to it.
Task 1 starts with you describing your strategy and how effective it was.
From the beginning of the simulation I decided to compete with two different companies, so I picked one and used it for my SWOT analysis. I found a great source for this at http: My paper was 15 pages long and it passed on the first attempt.
Task 2 starts with asking you about resources. You have to talk about how you compensated for a resource weakness, how you created a resource strength, and how competitively powerful that resource strength was.
I opened by defining tangible and intangible resources and then I identified a resource weakness — in my case retail outlets — and then I spoke about how I attempted to strengthen this weakness.
This was a good lead in for the next two prompts because I was able to use snippets from the financial reports showing how poorly I was doing with just a few retail outlets, and how much improvement I made after I increased the number of outlets.
I also added a production facility in Latin America at the same time.
The combination of retailer support and new capacity was my strength for this prompt. Make sure you insert a lot of screen prints of your reports. Pick a culture and talk about how it works with your strategic plan. I also inserted an org chart to show how decisions were made in the organization.
You have to talk about all 10 of the principal managerial components listed in chapter 10 of the Strategic Management text book. This was the longest and most time consuming section of my paper. Pages of the Footwear Industry Report contain your balanced scorecard. I inserted a copy of each section with a short 3 sentences or so analysis of each.
I modeled my balanced scorecard after the sample given in the Managerial Accounting text book beginning on page from a previous class. Oh, you have to do a piece on creativity and innovation.
The key to success for these two tasks is to insert a lot of snippets from your reports. I inserted 22 snippets, charts, and graphs in task 2!
I would also try not to follow the rubric and the task too closely Weird, huh? I followed the tip sheet provided by the mentors, which almost seems like a different task at times, but this seems to be what the graders wanted.C Strategic Management Concepts related to Tasks 1 and 2 Task 1 Overview vision, mission, and values statements the importance of leadership team buy-in analytical tools used in performing situational analysis alignment between strategy, people, and corporate culture SWOT analysis.
Jun 29, · The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to. Strategic Management 2 Words | 10 Pages. Strategic Plan, Part II: SWOTT Analysis BUS/ – Integrated Business Topics January 16, Healthy Place is a therapy store focused upon relaxation as an aid in healthy living.
4 thoughts on “ JHT2 Strategic Management Tasks 1 &2 ” Jason May 26, How deep did you get on your responses to C-1? Was your response to the first one something like this?
1. Staff the organization with managers and employees capable of . Introduction. SWOT Analysis Theory is a theory used to design something with SWOT. SWOT is done by Strengths, Weaknesses, Opportunities, and Threats.
Introduction. SWOT Analysis Theory is a theory used to design something with SWOT. SWOT is done by Strengths, Weaknesses, Opportunities, and Threats.