Write a 1,000-word report in which you select a company you are familiar with or a company where you currently work, and do the following:
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Evaluate the internal and external environments of your selected company using an environmental scan.
Organizations are affected by both the internal and external environment. For Wal-Mart, the internal environment consists of such factors as the organizational structure, management, and supply chain operations (Spicer & Hyatt, 2017). The structure is both hierarchical and functional with all employees except the CEO working under a supervisor. Such a hierarchical approach enables…
Analyze the competitive advantage of your selected company.
Different organization uses different strategies to remain or gain competitive. For Wal-Mart, the competitive advantage is hinged its superior supply chain management and low prices. Since its inception, Wal-Mart has advertised…
Evaluate the strategies your selected company uses to create value and gain competitive advantage.
One of the main strategies used by Wal-Mart is its vast scale of operations as leverage when negotiating with suppliers. By doing so, the company is able to reduce its buying price for products. In turn, this has provided the retailer with leeway for reducing prices than its competitors, meaning the organization will offer products at a lower price than the competitors. Another important…
Examine the measurement guidelines your selected company uses to verify its strategic effectiveness.
Wal-Mart uses a sustainability index as its measurement guidelines. Launched in 2009 as a collaboration between the retailer and The Sustainability Consortium (TSC), the index is supposed to aid retailers as well as suppliers to enhance productivity through improving the….
Evaluate the effectiveness of the measurement guidelines your selected company uses.
The sustainability index has been highly useful in aiding Wal-Mart as a measuring guideline. Using this tool, the company sets and achieves measurable goals such as the greenhouse gasses…
A strategic management plan addresses four different management functions: environmental scanning, strategy formulation, strategy implementation, evaluation and control. Weeks 3, 4 and 5 individual assignments (Part 1, Part 2 and Part 3) are integrated to generate a strategic management plan. The purpose of the Week 3 individual assignment is to evaluate the internal and external environments of a company selected by the student, to analyze the competitive advantage of the selected company, to evaluate a set of suitable strategies, and to examine appropriate metrics.
This assignment provides students an opportunity to research a selected company as if they were involved in a company’s actual strategic management planning process. It allows students to see which management planning process and management plan the selected company is currently using, allowing them to measure the effectiveness of current strategies.
A Strategic Management Plan addresses four different management functions: Environmental Scanning, Strategy Formulation, Strategy Implementation, Evaluation and Control.
The Week 3, 4, and 5 Individual Assignments (Part 1, Part 2, and Part 3) are integrated to generate a Strategic Management Plan. This is Part 1 of the three part Strategic Management Plan.