The strategy and the strategic management process.

Question

Instructions

Directions: 

Sources must be cited in

APA format. Your response should be four (4) double-spaced pages; 

You will soon find

yourself fulfilling roles in organizations where the ability to think

strategically about issues will make you much more valuable to employers. For

example, your boss may ask you to present information on a new strategy to gain

a competitive advantage in the marketplace to the board of directors.

Part A: Strategic

Management

Part A refers to the

material in Lesson 1 of this course. Using logical, clear writing, do the

following:

1. 

Describe

strategy and the strategic management process.

2. 

Define

competitive advantage and describe the two approaches used to estimate a firm's

competitive advantages.

3. 

Explain

why it is important to understand a firm's strategy.

Part B: External Analysis

Part B refers to the

material in Lesson 2 of this course. Using logical, clear writing, do the

following:

1. 

Describe

an external analysis.

2. 

Analyze

the two levels of the environment.

3. 

Identify

and define the three elements of the S-C-P model.

Part C: Internal Analysis

Part C refers to the

material in Lesson 3 of this course. Using logical, clear writing, do the

following:

1. 

Describe

an internal analysis.

2. 

Explain

resources and capabilities.

3. 

Describe

the VRIO framework.

Part D: Cost Leadership

Part D refers to the

material in Lesson 4 of this course. Using logical, clear writing, do the

following:

1. 

Differentiate

between business strategies and corporate strategies and define the nature of a

cost-leadership strategy.

2. 

Identify

six sources of cost advantages for firms.

3. 

Identify

the most appropriate organizational structure for a firm pursuing a

cost-leadership strategy.