Hi there,How are you today?The following are attached.1- The questions.2- The case study.3- Summary for most of the chapters, what you need is chapter 6 from the book.4- Ch apter 6 file from my teacher. Thank you so much
assignment_2__managment_.docx
summary_for_chapters.pdf
kinicki_7e_week_04_ppt3_b_.pdf
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Assignment Workload:
• This Assignment consists of a Caselet.
• Assignment is to be submitted by each student individually.
Assignment Purposes/Learning Outcomes:
After completion of Assignment-2 students will able to understand the
• Apply knowledge and techniques of strategic planning and decision
making. (Lo2.1)
• Apply knowledge and function effectively on teamwork activities,
management skills to create a development plan (Lo3.4)
• Answer questions related to case study.
Assignment Regulation:
• All students are encouraged to use their own words.
• Student must apply “Times New Roman Font” with 1.5 space within their
reports.
• A mark of zero will be given for any submission that includes copying from
other resource without referencing it.
• If the assignment shows more than 25% plagiarism, the students would be
graded zero.
• Assignment has to be in Word format only.
Assignment-1
Please go to Chapter 6 “Strategic Management” available in your textbook
“Management: A Practical Approach” 7th edition by Kinicki, A., &
Williams, B., at the end of the Chapter read Case: “Putting AutoZone into
Drive” and answer the following questions:
•
Assignment Questions:
Q1. Using no more than two sentences, describe AutoZone’s strategy.
Q2. Based on Michael Porter’s discussion of the characteristics of an effective
strategy, does AutoZone have a good strategy for growth? Explain.
Q3. To what extent is AutoZone following the five steps of the strategicmanagement process?
Q4. Conduct an environmental scan or SWOT analysis of AutoZone’s current
reality and recommend whether the company’s current strategy is poised to
succeed.
Q5. What is the greatest takeaway from this case in terms of strategic
management?
Strategic
Management
How Exceptional
Managers Realize
a Grand Design
PPT3(B)
Chapter Six
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distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a
website, in whole or part.
Major Questions You Should Be Able
to Answer
6.1 What is strategic positioning, and what are
the three principles that underlie it?
6.2 What’s the five-step recipe for the strategic
management process?
6.3 What are the characteristics of good mission
and vision statements?
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-2
Major Questions You Should Be Able
to Answer
6.4 How can three techniques—Porter’s four
competitive strategies, diversification and
synergy, and the BCG matrix—help me
formulate strategy?
6.5 How does effective execution help managers
during the strategic-management process?
6.6 How does effective execution help managers
during the strategic-management process?
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-3
What Is an Effective Strategy?
Strategic positioning
attempts to achieve sustainable competitive
advantage by preserving what is distinctive about
a company
“performing different activities from rivals, or
performing similar activities in different ways”
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6-4
Strategic Positioning &
Its Principles
1. Strategy is the creation of a unique &
2.
3.
valuable position
Strategy requires trade-offs in competing
Strategy involves creating a “fit” among
activities
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-5
The Strategic-Management Process
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6-6
Assess the Current Reality
Current reality assessment
to look at where the organization stands and see
what is working and what could be different so as
to maximize efficiency and effectiveness in
achieving the organization’s mission
Also called organizational assessment
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6-7
Formulate the Grand Strategy
Grand strategy
explains how the organization’s mission is to be
accomplished.
Strategy formulation
process of choosing among different strategies
and altering them to best fit the organization’s
needs
Strategy implementation
putting strategic plans into effect
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-8
The Strategic Management Process
Strategic control
consists of
monitoring the
execution of strategy
and making
adjustments, if
necessary
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-9
Mission Statements and
Vision Statements
Table 6.1
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6-10
Competitive Intelligence
Competitive intelligence
means gaining information about one’s
competitors’ activities so that you can anticipate
their moves and react appropriately
public prints and advertising, investor
information, informal sources
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-11
SWOT Analysis
Environmental scanning
careful monitoring of an organization’s internal
and external environments to detect early signs of
opportunities and threats that may influence the
firm’s plans
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-12
SWOT Analysis
Figure 6.2
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-13
SWOT Analysis
Organizational
strengths
skills and capabilities
that give the
organization special
competencies and
competitive
advantages in
executing strategies
in pursuit of its
mission
Organizational
weaknesses
drawbacks that
hinder an
organization in
executing strategies
in pursuit of its
mission
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-14
Question?
When analyzing the “W” in SWOT analysis,
Roberta, the manager might be assessing:
A. Possible challenges in the market
B. Competitors’ actions
C. High turnover of employees
D. Good financial resources of the firm
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-15
SWOT Analysis
Organizational
opportunities
environmental factors
that the organization
may exploit for
competitive
advantage
Organizational
threats
environmental factors
that hinder an
organization’s
achieving a
competitive
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-16
Example: How Would You Analyze
Toyota?
Internal strengths
attention to detail and a frugality that shuns waste of
every kind
Internal weaknesses
parts were supplied by outside companies rather than
trusted traditional suppliers
External opportunities
stressed commitment to customers
still ranks high in quality
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-17
Forecasting: Predicting the Future
Trend analysis
hypothetical extension of a past series of events
into the future
Contingency planning
creation of alternative hypothetical but equally
likely future conditions
also called scenario planning and scenario
analysis
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-18
Benchmarking:
Comparing with the Best
Benchmarking
a process by which a company compares its
performance with that of high-performing
organizations
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-19
Porter’s Five Competitive Forces
1. Threat of new entrants
2. Bargaining power of suppliers
3. Bargaining power of buyers
4. Threat of substitute products or services
5. Rivalry among competitors
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-20
Common Grand Strategies
Growth strategy
involves expansion – as in sales revenues, market
share, number of employees, or number of
customers
Stability
involves little or no significant change
Defensive
involves reduction in the organization’s efforts
retrenchment
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-21
How Companies Can Implement Grand
Strategies?
Table 6.3
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-22
Porter’s Four
Competitive Strategies
Figure 6.3
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-23
Porter’s Four Competitive Strategies
Cost-leadership strategy
keep the costs, and hence prices, of a product or
service below those of competitors and to target a
wide market
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-24
Question
The company’s CEO puts pressure on the firm’s
R&D managers to develop products that can
be created cheaply. The firm would be
following a ________ strategy:
A. Cost leadership
B. Differentiation
C. Cost focus
D. Retrenchment
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-25
Porter’s Four Competitive Strategies
Differentiation strategy
offer products that are of unique and superior
value compared to those of competitors but to
target a wide market
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-26
Porter’s Four Competitive Strategies
Cost-focus strategy
keep the costs of a product below those of
competitors and to target a narrow market
Focused-differentiation
offer products that are of unique and superior
value compared to those of competitors and to
target a narrow market
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-27
The Single-Product Strategy: Focused
but Vulnerable
Single-product strategy
company makes and sells only one product within
its market
Benefit-focus
Risk-vulnerability
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-28
The Diversification Strategy
Diversification
operating several businesses in order to spread
the risk
related, unrelated
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6-29
Advantages of Related Diversification
Reduced risk
because more than one product
Management efficiencies
administration spread over several businesses
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-30
Advantages of Related Diversification
Synergy
the economic value of separate, related
businesses under one ownership and
management is greater together than the
businesses are worth separately
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-31
The BCG Matrix
BCG matrix
a means of evaluating strategic business units on
the basis of (1) their business growth rates and (2)
their share of the market.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-32
The BCG Matrix
Figure 6.4
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6-33
Maintaining Strategic Control
Engage
people
Keep moving
Keep it
simple
Stay focused
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-34
Execution: Getting Things Done
Execution
consists of using questioning, analysis, and followthrough in order to mesh strategy with reality,
align people with goals, and achieve results
promised
central part of any company’s strategy
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6-35
Question
John owns a piano sales and tuning store. He
wants to be the biggest retailer in the
Midlands. Adding salespeople would be part
of his strategic __________.
A. Locution
B. Execution
C. Efficacy
D. Efficiency
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6-36
The Three Core Processes
of Business
People
Consider who will benefit you in the future
Strategy
Consider how success will be accomplished
Operations
Consider what path will be followed
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6-37
What Questions Should a Strong
Strategic Plan Address?
Table 6.4
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6-38
Building a Foundation of Execution
Know your people & your business
Insist on realism
Set clear goals & priorities
Follow through
Reward the doers
Expand the capabilities
Know yourself
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