MGT330 Business Strategies Questions Task:
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- Course Code: MGT330
- Course Title: Business Strategy
- Referencing Styles: APA
- Words: 3500
- University: Charles Sturt University
- Country: AU
1. Brief description of the organisation. Include only information relevant to the discussion in your assignment: ownership, size, major products/services, markets of the selected organisation, and the industry in which it operates.
2. Identification of organisational strategies using Hubbard’s (2000) five questions:
Does the organisation plan to grow (profitability)?
What products and services does it plan to produce?
What customer and geographic markets does it plan to serve?
What generic strategy does it plan to follow to position itself uniquely against competitors (differentiation, low cost, focus (Porter, 1980))?
What position in the industry does it plan to hold in the future? (e.g., most profitable, most innovative, best customer service, employer of choice, supplier of choice)
Answer to each of the five questions needs to clearly identify strategic choices the organisation made, such as growth or consolidation, product and/or market diversification, Porter’s generic strategy options (differentiation, focus or low cost). Please read chapters 7, 8, 9 and 11 for further understanding of strategic options.
3. Evaluation of organisational strategy in the current business environment characterised by COVID-19, economic downturn and other factors identified in Assignment 2 specific to the organisation/industry of your choice, based on Rumelt’s four criteria:
Internal consistency: Is the strategy internally consistent? That is, is strategy consistent with functional strategies and the desired organisational goals and objectives?
External consistency/consonance: Is the strategy consistent with the external environment?
Competitive advantage creation: Does the strategy create or maintain a basis of competitive advantage?
Feasibility: Is strategy realistically achievable in terms of existing resources and capabilities (or is it too idealistic)?
4. Recommendation: Which other alternative strategic option should the organisation pursue given the changes and threats in its environment? Does the suggested strategic option pass the Rumelt’s four criteria? Please evaluate the recommended alternative using Rumelt’s framework in a table format suggested in the online meeting 4, and available in Resources- Assignment 3 folder on our Interact2 site.
Organisational strategies may include:
- Business-Level Strategies
- Corporate-Level Strategies
- Networks, Partnerships and Alliances
- Global Strategies and the Multinational Corporation