Need 1.5-2 pages answer for Learning Objectives Ch.1-4 *keep questions on the answer sheet and need answer the question one by one, don’t put all together.
Need total 1-1.5-page answer for two Discussion Questions (ch1-2; ch3-4)
ALL answers should from your own words or the textbook (No Internet resource allowed)
You answers must related to the textbook lessons. answers are easy to find under each chapter (pdf), just use some of your word and explanations from textbook. Also you must write the page number (where is this topic come from) after your answer.
Learning Objectives Chapters 1-4
CH.1 What Is Strategy and Why Is It Important?
LO 1 What we mean by a company’s strategy.
LO 2 The concept of a sustainable competitive advantage.
LO 3 The five most basic strategic approaches for setting a company apart from rivals and winning a sustainable competitive advantage.
LO 4 That a company’s strategy tends to evolve because of changing circumstances and ongoing efforts by management to improve the strategy.
LO 5 Why it is important for a company to have a viable business model that outlines the company’s customer value proposition and its profit formula.
LO 6 The three tests of a winning strategy.
- 2 Charting a Company’s Direction Its Vision, Mission, Objectives, and Strategy
LO 1 Why it is critical for company managers to have a clear strategic vision of where a company needs to head.
LO 2 The importance of setting both strategic and financial objectives.
LO 3 Why the strategic initiatives taken at various organizational levels must be tightly coordinated to achieve companywide performance targets.
LO 4 What a company must do to achieve operating excellence and to execute its strategy proficiently.
LO 5 The role and responsibility of a company’s board of directors in overseeing the strategic management process.
CH.3 Evaluating a Company’s External Environment
LO 1 How to recognize the factors in a company’s broad macro-environment that may have strategic significance.
LO 2 How to use analytic tools to diagnose the competitive conditions in a company’s industry.
LO 3 How to map the market positions of key groups of industry rivals.
LO 4 How to determine whether an industry’s outlook presents a company with sufficiently attractive opportunities for growth and profitability.
- 4 Evaluating a Company’s Resources, Capabilities, and Competitiveness
LO 1 How to take stock of how well a company’s strategy is working.
LO 2 Why a company’s resources and capabilities are centrally important in giving the company a competitive edge over rivals.
LO 3 How to assess the company’s strengths and weaknesses in light of market opportunities and external threats.
LO 4 How a company’s value chain activities can affect the company’s cost structure and customer value proposition.
LO 5 How a comprehensive evaluation of a company’s competitive situation can assist managers in making critical decisions about their next strategic moves.
Discussion Question (CH 1-2) (need 0.5-0.75-page answer)
Defend the need for clear operating policies in an organization and include in your discussion how “organizational practices” sometimes supersede the “written policies” of an organization. Describe how this might hinder the implementation of a strategic goal.
Discussion Question (CH 3-4) (need 0.5-0.75-page answer)
Briefly discuss the value of the “Framework for Competitor Analysis” and if you believe these four cover the basic framework for an analysis or should another dimension be added. And, if one needs to be added in your opinion, what do you suggest the fifth or even sixth dimension should be??
