CRAFTING+EXEC.STRAT.:CONCEPTS (LOOSE)
CRAFTING+EXEC.STRAT.:CONCEPTS (LOOSE)
22nd Edition
ISBN: 9781260157178
Author: Thompson
Publisher: MCG
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Chapter 4, Problem 7ESP
Summary Introduction

To compare: Company’s competitive strength assessment with other two companies.

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A profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.
Identify two current organizations—one organization facing a low-risk competitive environment and one facing a high-risk competitive environment. For each of these organizations, explain why you have evaluated its competitive environment as either low risk or high risk, using strategic planning and analysis concepts (such as Porter's Five Forces Model) For each of these organizations, recommend a pairing of a system design tool and a system operation tool that you believe will work especially well in the competitive environment faced by the organization. Be sure to explain why the tools you have chosen are uniquely suited to the competitive environment faced by that organization.
When using the strategic management process, firms should start by A) developing a strategic vision, mission and values.   B) developing a proven business model, deciding on the company's top management team, and crafting a strategy. setting objectives, developing a business model, crafting a strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage.   C) coming up with a statement of the company's mission and communicating it to all employees, setting objectives, selecting a business model, and monitoring developments and initiating corrective adjustments to the business model when necessary.   D) deciding on the company's board of directors, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ.
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