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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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    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.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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