Business Planning
The following
three scenario’s:
Scenario #1
Thinking Strategically
Identifying the factors that
characterize a company’s strategic situation is the basis for a strategy
process. These factors can be classified as strengths, weaknesses,
opportunities, and threats. Analyzing these factors using various tools enables
a manager to formulate strategies more effectively. In the business world this
will consist of using long-term objectives as a framework: the strengths,
weaknesses, opportunities and threats of the company. In addition some will use
a strategic analysis using a tool known as the Matched Pair Analysis to
identify strategies that enable the company achieve its long-term objective.
a. What are two lessons learned
relative to the importance and effectiveness of environmental scanning?
b. What concepts and analytic tools
a business owner be able to use in the development of his or her strategic
plan?
c. What are two challenges facing
strategic planners?
Scenario #2
Developing Grand Strategies
A Grand Strategy can be defined as
a comprehensive general approach that guides a company’s key actions. The Grand
Strategy Clusters matrix is a 2 X 2 cluster of 15 Grand Strategies based on the
growth rate of the general market and the company’s competitive situation in
that market.
a. What are two lessons learned
relative to the importance and effectiveness of strategy formulation and
choice?
b. What concepts and analytic
tools would a business owner be able to use in the development of his or her
strategic plan?
c. What are two challenges facing
strategic planners?
Scenario #3
Creating a Strategic Road Map
Creating a successful and powerful
strategic road map that will lead an organization to its desired milestones is
a process that combines insight with analysis, perception, and vision. A good
strategy will take a company to its modest short-term goals, while a brilliant
one would set the organization on a course designed to capture the future.
Based on the long-term objective, many times a business defines the strategies
and the corresponding goals that would enable the firm to achieve leadership
status.
a. What are two lessons learned
relative to the importance and effectiveness of the formulation of action plans
and goals?
b. What concepts and analytic
tools will a business owner be able to use in the development of his or her
strategic plan?
c. What are two challenges facing
strategic planners?
ScholarMatic: Explanation & Answer
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