13 Jun EXPLAIN THE CONCEPT OF STRATEGY, VISION, MISSION, GOALS, OBJECTIVES AND CORE COMPETENCIES.
ASSIGNMENT GUIDE: A General Introduction on APPLE
TASK ONE
1.1. Explain the concept of strategy, vision, mission, goals, objectives and core competencies. (AC 1.1) STRATEGY: Explain strategy and the roles of strategy EXPLAIN THE FOLLOWING • MISSION • VISION • GOAL • OBJECTIVES • CORE COMPETENCE For this task youdo not necessarily have to apply to Apple
1.2. Review the issues involved in strategic planning. (AC 1.2) WHAT IS STRATEGIC PLANNING
What are planning issues
What are the issues usually faced in strategic planning: You are expected to mention some vital points/ideas and provide critical analysis.
1.3. Explain different planning techniques that organisations can use (AC 1.3) WHAT ARE PLANNING TECHNIQUES v Explain planning techniques (BCG, SPACE, PIMS, DIRECTIONAL POLICY MATRIX) For this task you are expected to provide a detailed explanation for at least any two planning technique.
TASK 2 Formulating Strategy
2.1. Produce an internal organizational audit of Apple evaluating their strengths and weaknesses (AC 2.1.) SWOT ANALYSIS |Apples Strengths and Weakness, v current resources, products v customers and other stakeholders v systems structure, v results, v efficiency, and effectiveness
2.2. Carry out an industry analysis of Apple using Porter’s 5 Forces framework, and conduct and environmental analysis of its macro environment using PESTEL model, clearly identifying Opportunities and threats present in the external environment. (AC 2.2.) v Opportunities and Threats of Apple v PESTEL v MICHAEL PORTER’S FIVE FORCES COMPETITIVE THEORY MODEL
Analyse the Industry in which Apple operates: By applying Michael Porter’s Five Forces Analysis,
Identify and describe how the power of the firm’s suppliers and buyers affect APPLE;
How the competition is played out in the industry; the entry barriers that exist and the threat of substitute products.
2.3. Explain the significance/importance of stakeholder analysis. (AC 2.3)
Define stakeholders v Explain the significance of stakeholder analysis (why is it important for organisations to conduct a stakeholder analysis.)
3.1. Analyse possible alternative future strategies of Apple relating to substantive growth (horizontal and vertical integration, related and unrelated diversification), limited growth (do nothing, strategies described in Ansoff’s Matrix – market penetration, market development, product development) and retrenchment. (AC 3.1) Substantive growth: Growth strategies Vertical and horizontal integration Related and unrelated diversification Limited growth: Ansoff matrix- Retrenchment: Turnaround, Divestiture and liquidation
3.2. Select, with justification, an appropriate strategy Apple can pursue for its future growth. (AC 3.2)
From the growth strategies you have analysed above select one strategy with reasons why you think that is the appropriate strategy for Apple to pursue for its future growth.
Task 4 implementation and evaluation
4.1Compare the roles and responsibilities of the different levels of strategy in implementing the strategy adopted in 3.2. (AC 4.1) Compare the roles and responsibilities of (DIFFERENT LEVELS OF STRATEGY: Cooperate, Business and Functional) WITH EXAMPLES in terms of: Strategic direction Communication Task sequencing and scheduling Flexible planning Establishing balanced organisational control Effectively managing organisation resource portfolio
4.2. Evaluate what resources will be required to implement Apple’s chosen strategy. (AC 4.2) What resources will be required by Apple for successful implementation of the chosen strategy? Evaluate using: Human resource, Material, Technology and Finance, time, material, and equipmenttechnology as a resource under this you would be WEIGHING BENEFITS AND LIMITATIONS AND STATE YOUR OWN OPINION. 4.3.
Discuss the importance of targets and timescales to monitor the successful achievement of the adopted strategy for Apple. How would Apple monitor the selected strategy? Why is it important to set Smart objectives? YOU ARE REQUIRED TO SET TARGETS AND TIMESCALESREQUIRED TO MONITOR THE IMPLEMENTATED STRATEGY: Find below a table that could be used as a guide in setting your targets and time scale. OR YOU CAN ALSO USE GANTT CHART. Target Advantages Time-scales Responsible Budget Human Resources Building the Organisation
Staffing & Training
Core Competences
Developing Org. Structure
Building core competences,
developing individual abilities
Hone skills with experience Ongoing HR Manager £1.5M Conclusion Recommendation Reference list. Common instruction words You must always read the assignment question in its entirety so these explanations are only a rough guide. Do not jump to conclusions about what is required on the basis of these words only. Analyse Examine in detail the structure of something or the elements that make up a process or an event. It implies a model, theory or concept can be used as a basis for examining the structure or the component parts. Pay attention to who, what, why, when and how. Include strengths, weaknesses, pros and cons. The main body of the assignment should present your analysis. It must contain all the information needed to justify your conclusions and recommendations.
Your analysis must:
Show that you understand what you have read
Demonstrate your knowledge of key models, theories and concepts. (A lack of reference to an appropriate theory is the most common criticism made by assessors).
Contain arguments from different sides (where relevant)
Cover all aspects of the question
Follow a logical structure and have a coherent flow Apply To put to practical use; utilize; employ; to be relevant, useful, or appropriate; to put into operation or effect; to employ diligently or with close attention Assess Consider the points for and against something in a balanced way. Compare Show the similarities between two issues. Contrast Show the differences between two issues. Critically Challenge the normal way of seeing things with an expectation of finding ways for improvement. Used most frequently with ‘analyse’ and ‘evaluate’. Describe Give a detailed account so that the reader knows what has happened or can picture the scene in their mind. A less detailed picture is an outline. Discuss Make points about the topic in question and comment on the issues raised indicating which issues are more significant than others. Show where some points are favourable and others unfavourable, then draw a conclusion about the balance between them. Evaluate Form an idea about the worth or value of something. This often involves comparing what is being evaluated with the expected outcome, or an ideal model, or weighing costs against benefits and then reaching a conclusion. Examine to look at, inspect closely, or scrutinize carefully or in detail; investigate (to inquire into carefully) Examples of EXAMINE
An accountant has been hired to examine the company’s books.
• The police examined the evidence carefully. Explain Make something clear by giving reasons so that the reader understands why something has happened. Extent If you are asked ‘to what extent something has happened’, you have to weigh the evidence for and against and consider how far something has taken place. There is often an implication that implementation has not been completed. Identify State or name what is being looked for. You may need to explain why or how you identified what you have chosen. Illustrate Give examples (from real life if possible). This makes abstract ideas much clearer. Justify Present a rationale, reasons for conclusions, recommendations or results. Use evidence, research, examples, or quotes to support a justification. Review Mention important ideas, highlight major points and/or list topics previously covered. Sometimes review means critically evaluate and/or give your opinion. Summarise Give the main points or facts in condensed form. Brief examples can help make your summary more specific.
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