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T1 2019 HI6006 Competitive Strategy || Essay – Key Strategy Development Tools

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Write a Comprehensive discussion of any four of the strategy models, with practical application to current business examples. This assignment aims at ensuring that students have familiarised themselves with the foundational strategy. Write an essay explaining what the main strategy development tools are and how they are used in business. Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, FiveForces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross ImpactAnalysis), Generic Strategies, Ansoff, Ghemawat, with reference to acad...

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Question Preview:

Write a Comprehensive discussion of any four of the strategy models, with practical application to current business examples. This assignment aims at ensuring that students have familiarised themselves with the foundational strategy. Write an essay explaining what the main strategy development tools are and how they are used in business. Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, FiveForces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross ImpactAnalysis), Generic Strategies, Ansoff, Ghemawat, with reference to academic journals and practical examples from the industry. development models and are able to relate them to current practical business examples.

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For an organization to be successful it is necessary to consider the internal and external factors affecting the organization and strategize a plan accordingly. This strategic planning will help the organization to face the challenges and opportunities. Strategic planning enhances the growth of an organization irrespective to the size of the organization, the culture of the organization, the leadership style or the objective of the organization.

Several key strategic development tools are available that can be used. However, selecting the best tool according to suitability is a challenge.

In order to be profitable and sustainable in the industry, an organization should carefully perform an environmental scan as the first step. Hence, accordingly, plan and develop strategies to make the most. However, these strategies should be measured and adjusted as per the need of the fast-moving markets. Well-Planned strategy execution and proper evaluation of these strategies can enable the organization to reach great heights as we have seen in the case of McDonald's.

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