Assess the three (3) stages of the strategy-formulation framework as discussed in the course this must be linked to the product/ service the group intends to offer. In each stage you are required to include one (1) tool in your assessment. NB. You are not to include the SWOT here as this is needed in the project implementation plan below. Choose any other tool when addressing that stage.
A group of University students are considering opening a new business in the Tourism sector. The product or service is a novel idea in the Tourism Sector. Notably, the tourism sector is known to be competitive. As a result, it is important for organizations to be aware of their a lternative organizational strategies. It is also important that they understand how to develop a sustainable competitive advantage. The group is also considering utilizing the strategy formulation framework to aid in developing the company and its novel products. The group is aware that there are certain habits that strategic leaders must encompass but are not sure what they are. The team is aware that they would face potential issues within strategic implementation and would like to understand how this can be remedied. The group is interested in the development of a Project Implementation Plan and have sort your expertise to develop one for the product or service in the tourism sector. N.B. An implementation plan is a management tool that facilitates the execution of a strategic plan for a company or a project by breaking down the implementation process into smaller steps while defining the timeline, the teams and the resources that will be needed. In this case, an implementation plan is a document that outlines the steps your team (your assigned group for this course) should take to accomplish a shared goal or initiative. The Plan helps you get insight into the steps and actions that are necessary to make a change or an innovation in your company. The business is a Travel Agency which offers accomodation, transportation and excursions whn someone travels.
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5. Assess the three (3) stages of the strategy-formulation framework as discussed in the course this must be linked to the product/ service the group intends to offer. In each stage you are required to include one (1) tool in your assessment. NB. You are not to include the SWOT here as this is needed in the project implementation plan below. Choose any other tool when addressing that stage.
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