Topic 1: Assessing Business Strategy
Throughout your personal, professional, and academic life, you have been exposed to the concept of strategy in many ways. From career growth to personal finance and business planning, the concept of strategy can be confusing, vague, and seemingly impossible to master. In this Discussion Assignment, you will conceptualize the meaning of strategy by explaining how it is used in a management capacity, and what is to be gained in its application from a real-world perspective.
Complete the following activities prior to developing your Discussion Assignment essay:
· Read Chapters 1 and 2 in the course textbook. Complete the lab activities before developing your Discussion Assignment essay.
· Explore the supplemental reading and video resources. Review a minimum of three resources to develop perspective on the subject of strategy and its importance to a business developing competitive advantage.
To develop, actualize and communicate a deep understanding for the meaning of strategy, execute the requirements below in essay format using headings to segment topics and to create a flow of ideas for your reader. This Discussion Assignment essay is due no later than the last day in Unit 1. Execute the following checklist items in the development of your Discussion Assignment essay:
· Choose a publicly traded company by searching the Hoover’s Company Profile database in the library or the Yahoo Finance website. Conduct research on the company website and using library resources. Provide a brief synopsis about the company, the industry sector in which it operates, products, and target market.
· To complete this Discussion Assignment, you may also choose to analyze your current employer if you have access to the required information necessary to inform your writing.
· Another option you have is to choose a Baldridge award winning company from the NIST website using the “Award Application Summary” to complete this Discussion Assignment. Conduct additional research on the company website as necessary to meet the following requirements.
· Using Table 2.1 in the textbook, critique the adequacy and merit of the vision statement for your chosen company, listing effective elements and shortcomings.
· Visit and explore the investor relations website for your chosen company to find examples of strategic and financial objectives.
· List four objectives for each company, and indicate which of these are strategic and which are financial.
· Evaluate the company vision and mission statements.
· Explain what management has discussed concerning staffing, resource allocation, policies and procedures, information and operating systems, continuous improvement, rewards and incentives, corporate culture, and internal leadership at the company.
· What are the core values of your chosen company? Are they realistic? Does the company live up to its core values?
· What sets your chosen company apart from its competitors? Describe the type of competitive advantage your chosen company has established.
· What is there about the strategy of your chosen company that can lead to sustainable competitive advantage?
· Use a minimum of three peer-reviewed, academic research resources (including your textbook) to substantiate your critical thinking, and to provide viable reasoning for your perspectives.
· Write in third person and apply proper APA style referencing format.
· Use headings to segment the topics in your writing in order to create a flow of ideas for your reader.
In lieu of an Assignment Dropbox, this Discussion Assignment was developed for the purpose of knowledge sharing. You will post your Discussion Assignment essay by the end of Unit 1. You are not required to collaborate with your fellow learners on the Unit 1 Discussion Board. You will collaborate with one another about this strategy research in accordance with the instructions found on Unit 2 Discussion Board.
Essays posted to the Discussion Board beginning in Unit 2 will be considered late, and a penalty will be applied in accordance with the Purdue University Global late policy. You are expected to write unique perspectives on the subject of strategy, and its purpose in business. Refrain from committing plagiarism. It will not be tolerated. Your contributions must synthesize existing theories, concepts and principles, and must add value to the existing body of knowledge. The maximum number of direct quotes permitted in your writing is no more than two from scholarly, peer-reviewed resources