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Strategic Decision Making

by | Sep 2, 2022 | Business Studies

by | Sep 2, 2022 | Business Studies

Strategic Decision Making

Week 3 – Overview & Learning Objectives

Week 3 – Overview & Learning Objectives Attached Files:

Assigned Readings: Chapter 3. The External Assessment Chapter 4. The Internal Assessment

Overview: The external assessment uses an external audit that identifies and evaluates trends and events beyond the firm’s control. The focus is on the five external forces that shape the business environment (a) economic, (b) social, (c) political, (d) technological, and (e) competitive. The internal assessment examines how the company performs in all areas such as marketing, finance/accounting, overall management, IT, and production and operations.

Chapter 3 The External Assessment Learning Objectives:

  1. Describe the nature and purpose of an external assessment in formulating strategies.
  2. Identify and discuss 10 external forces that must be examined in formulating strategies: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive.
  3. Explain Porter’s Five Forces Model and its relevance in formulating strategies.
  4. Describe key sources of information used for locating vital external information.
  5. Discuss forecasting tools and techniques.
  6. Explain how to develop and use an External Factor Evaluation (E F E) Matrix.
  7. Explain how to develop and use a Competitive Profile Matrix.

Chapter 4 The Internal Assessment  Learning Objectives:

  1. Describe the nature and role of an internal assessment in formulating strategies.
  2. Discuss why organizational culture is so important in formulating strategies.
  3. Identify the basic functions (activities) that make up management and their relevance in formulating strategies.
  4. Identify the basic functions of marketing and their relevance in formulating strategies.
  5. Discuss the nature and role of finance and accounting in formulating strategies.
  6. Discuss the nature and role of production/operations in formulating strategies.
  7. Discuss the nature and role of research and development (R&D) in formulating strategies.
  8. Discuss the nature and role of management information systems (MIS) in formulating strategies.
  9. Explain value chain analysis and its relevance in formulating strategies.
  10. Develop and use an Internal Factor Evaluation (IFE) Matrix.

 

Discussion Forum Week 3

Discussion Forum Week 3Go to Chapter 3  and do Exercise 3B “Develop a Competitive Profile Matrix” for Coca-Cola.  Develop an analysis of  Coca-Cola utilizing this matrix in two to three pages.  Then go to the end of Chapter 4 and do Exercise 4A “Perform a Financial Ratio Analysis for Coca-Cola” Step 1.  After developing an analysis of  Coca-Cola (two to three pages) and after completing the financial ratio analysis (one page minimum), submit them in the Discussion Forum for this week.  Reply to at least two other students (200- word minimum each) and, as a class, refine the Competitive Profile Matrix analysis and the financial ratio analysis so that they are acceptable for Coca-Co

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