Strategic Decision Making
Week 5 – Overview & Learning Objectives
Week 5 – Overview & Learning ObjectivesAttached Files:
- Chapter 5-Strategies in Action.pptx Chapter 5-Strategies in Action.pptx – Alternative Formats (967.658 KB)
- Chapter 6-Strategy Analysis and Choice .pptx Chapter 6-Strategy Analysis and Choice .pptx – Alternative Formats (3.068 MB)
Assigned Readings:Chapter 5. Strategies in ActionChapter 6. Strategy Analysis and ChoiceOverview:In strategies in action, we investigate Porter’s five generic strategies (a) cost leadership low cost, (b) cost leadership best value, (c) differentiation, (d) focus on low cost, and (e) focus on best value. In strategy analysis and choice, we look at the process of generating and selecting strategies. We examine SWOT analysis (a) strengths, (b) weaknesses, (c) opportunities, and (d) threats. We will also look at PESTLE analysis (a) political, (b) economic, (c) social, (d) technological, (e) legal, and (f) environmental. Chapter 5 Strategies in ActionLearning Objectives:
- Identify and discuss eight characteristics of objectives and ten benefits of having clear objectives.
- Define and give an example of eleven types of strategies.
- Identify and discuss the three types of “Integration Strategies.”
- Give specific guidelines when market penetration, market development, and product development are especially effective strategies.
- Explain when diversification is an effective business strategy.
- List guidelines for when retrenchment, divestiture, and liquidation are especially effective strategies.
- Identify and discuss Porter’s five generic strategies.
- Compare (a) cooperation among competitors, (b) joint venture and partnering, and (c) merger/acquisition as key means for achieving strategies.
- Discuss tactics to facilitate strategies, such as (a) being a first mover, (b) outsourcing, and (c) reshoring.
- Explain how strategic planning differs in for-profit, not-for-profit, and small firms.
Chapter 6 Strategy Analysis and Choice Learning Objectives:
- Describe the strategy analysis and choice process.
- Diagram and explain the three-stage strategy-formulation analytical framework.
- Diagram and explain the Strengths-Weaknesses-Opportunities-Threats (S W O T) Matrix.
- Diagram and explain the Strategic Position and Action Evaluation (S P A C E) Matrix.
- Diagram and explain the Boston Consulting Group (B C G) Matrix.
- Diagram and explain the Internal-External (I E) Matrix.
- Diagram and explain the Grand Matrix.
- Diagram and explain the Quantitative Strategic Planning Matrix (Q S P M).
- Discuss the role of organizational culture in strategic analysis and choice.
- Identify and discuss important political considerations in strategy analysis and choice.
- Discuss the role of a board of directors (governance) in strategic planning.
Discussion Forum Week 5Go to the end of Chapter 5 and do Exercise 5B “Should Coca-Cola, Build, Borrow, or Buy in2020 -2021?” Steps 1, 2, and 3 (minimum of one-page assignment). (When accessing Coca-Cola’s website, you’ll have to click on “Press Center,”.) Then go to the end of Chapter 6 and do Exercise 6A “Perform a SWOT Analysis for Coca-Cola” as an individual, one-page assignment. After completing Exercises 5B and 6A, submit your assignment in the discussion forum for this week. Then type two peer replies (200-word minimum each) attempting to refine your strategies and your SWOT.
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