Mgt6303 Strategic Management|Comparative Analysis Assessment Answer

PA RT A Scenario In the face of the rapid and dynamic changes that are taking place in the environment of the 21st century. organisations are facing the challenge of introducing appropriate methods in dealing with the uncertainty in the environment. Strategic management is defined as the process of identifying, choosing and implementing activities that will enhance the long term performance of an organisation. Environmental Scanning is used to identify possible opportunities and threats from external forces, and its internal environment for strengths and weaknesses, so that decision-makers can formulate strategies to take advantage of the opportunities and avoid or reduce the impact of threats, in view of the future sustainability of the company and business activities it is involved in. a) Applying the PESTLE framework, you need to undertake an audit of the macro environment of your chosen industry sector, to identify the key environmental influences on organizations operating within this industry and the nature of its impact within the industry. You are then expected to justify why these environmental factors are important in influencing the success and failures of your organisation. b) Using the SWOT framework you are expected to conduct a critical analysis of a specific company within your chosen industry sector, to identify such strengths, weakness, opportunities and threats and its implications for the future sustainability of the company. PART B To be successful, the organisation needs to gain advantage over competitors through delivering superior value to the customers‘ needs better than that of the competitors. Advantages can be achieved through different ways. These are two opposing views of competitive advantage. The first view focuses on selecting the external environment with the most favourable industry market position that matches with the organisation capabilities ( outside-in). The other focuses on the internal organisation (inside-out), by developing the competencies that enable the organisation to perform better than competition Task: Using the company and industry sectors that you had selected in Part A, conduct a comparative analysis between these two strategic approaches and propose with appropriate justification, the one that you believe will best ensure the future business success and sustainability for the company of your choice.