Read California State University – Northridge’s Rex C. Mitchell’s “Formulating Strategy” and Reference for Business’s “Strategy Levels.”“Formulating Strategy” is available as a Word document. You will need to search the page for the link to the Word file
Part 1
Review the material from California State University – Northridge’s Rex C. Mitchell’s “Formulating Strategy” and Reference for Business’s “Strategy Levels.” Then, go to the discussion forum for Unit 6 and engage in a dialogue with your classmates by answering the following questions:
1. What are the most commonly used corporate strategies? Provide an example of one of these strategies.
2. Analyze which strategies are best for creating long term value in the modern firm. Would your answer change if the organization was in an environment with a different pace of technological change?
3. How does a firm measure “long term value?” Consider factors beyond financial measures as well.
Part 2
Pick any corporation you are familiar with and identify one of the competitive tactics it uses from this week’s reading “Formulating Strategy.” Analyze the competitive tactic it uses. Consider its internal and external environment using any of the strategic management tools in the course (SWOT, PEST, 5 Forces). Synthesize (develop a new idea) for a competitive tactic it should attempt.Prepare a two page (double-spaced) essay. The paper should be 12-point font, Times New Roman, be at least 500 words, and include a final source list.
Part 3
Students should document their activities, record problems they may have encountered. In addition, the student should consider the following questions for reflection: Consider “Some troublesome strategies to avoid or use with caution” from the reading for this unit. In your personal life, have you seen any examples of these? What might have been better strategies?
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