11 May HOW DO THE PROPOSED STRATEGIES MEET THE EXPECTATIONS OF STAKEHOLDERS?
Introduction
Short paragraph introducing the organisation and the purpose of the work. If you have already identified a strategic challenge, briefly explain it (this explanation at this stage is optional).
2.0 Mission, vision, and objectives statements
You will provide either new statements or existing statements (citing references in this case). In doing that, you will use the criteria discussed in class (Johnson et al., 2014) to either a) build new statements; or b) critically analyse the existing statements. Think of how the statements guide or support the strategy of the selected organisation.
3.0 Environmental analysis
Macro trend analysis (choose 1 of the following analyses: PESTEL key drivers of change (based on level of impact and uncertainty); or scenarios (with short explanation of two selected key drivers of change). Industry issues (choose 1 of the following analyses: 5 Forces, strategy canvas/blue oceans). Each of these analyses should result in the identification of opportunities and threats for the organisation.
4.0 Capability analysis
Identify strategic capabilities (choose 1 of the following frameworks: capabilities in the context of the value chain; or capabilities that link to critical success factors in the industry).
Optional: Look at selected measures of performance (economic performance, organisational effectiveness – select a maximum of 3 that are relevant in the context of your organisation), and compare these to one of the following: previously established organisational objectives, industry trends or benchmark organisations (this will help you in the identification of strengths and weaknesses).
Apply the VRIO criteria to any distinctive capabilities.
Discuss the competitive implications of the above analysis, by providing a summary of strengths and weaknesses.
5.0 Proposed strategy
Start by referring to the SWOT that resulted from the previous analyses. In order to combine the strengths and weaknesses (SW) with the opportunities and threats (OT), use a TOWS matrix. For each quadrant of the matrix, list the strategic options that the organisation would have.
These options will be either business-level strategies or corporate-level strategies (or a combination of both – it depends on your context).
Select 1 or 2 of these strategic options, and explain why these are preferred options for the organisation. If you are suggesting changes in business strategy (look at Porter’s generic strategies or Faulkner & Bowman’s strategy clock), give examples of strategy elements and organisational requirements (see slides week 8), using the value chain framework to support your arguments.
If you are suggesting new corporate strategy directions, you can use the following to build your argument: Porter’s ‘better-off’ test, economies of scope, transaction costs, and the costs of corporate complexity. You may also use the Ansoff matrix to show potential strategy directions, and comment on potential strategic methods (organic development, mergers and acquisitions, strategic alliances) if a diversification strategy is proposed.
Link back the proposed strategy(ies) to the initial purpose statements. Are these aligned with the mission/vision/objectives? Or do the statements need a revision? Why?
Optional: You can conclude by providing a strategy statement that summarises your competitive game plan in a short sentence (think elevator pitch) that covers: the key objectives, the scope (where), the advantage (how).
6.0 Strategy evaluation
You will conclude by providing a SAF (suitability, acceptability, feasibility) evaluation of the proposed strategy.
Discuss Suitability by answering: How do the proposed strategies exploit the opportunities in the environment and avoid the threats? How do the proposed strategies capitalise on the organisation’s strengths and avoid or remedy the weaknesses?
Discuss Acceptability by answering: How do the proposed strategies meet the expectations of stakeholders?
Optional: You can complement the above answer with stakeholder mapping (power/interest matrix).
Optional: You can include short comments in response to the risk and return criteria of Acceptability. To which extent are strategic outcomes unpredictable (especially with regard to negative outcomes)? To which extent are the proposed strategies financially effective?
Discuss Feasibility by answering: Do the resources and competences currently exist to implement the strategy effectively? If not, can they be obtained?
7.0 Conclusion and recommendations
8.0 List of references
9.0 Appendixes
Include any appendixes you want for parts 1 and 2. Remember to identify appendixes with headings and to mention these in the actual report.
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