Important Note: When organizing/writing your strategic management plan, use professional APA formatting and also use the: Module 7: Strategic Management Model provided in this module. This model can also be found within the PowerPoints and your textbook.   

Book: Pearce, J. A., & Robinson, R. B. (2015). Strategic Management (14th ed.). New York: McGraw-Hill/Irwin. (ISBN: 9780077862510)

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Assignment: Strategic Management Plan – Part I (1500 Words)

Please read very carefully.

Important Note: When organizing/writing your strategic management plan, use professional APA formatting and also use the:

Module 7: Strategic Management Model provided in this module. This model can also be found within the PowerPoints and your textbook.

You will formulate and document the individual components of a unique strategic management model culminating in a strategic management plan for your company. You may also use a fictional company if necessary. If you choose a fictional company it can be an established business or a start-up. It can be a market leader, or a company that is experiencing financial difficulty. It can offer one product or have multiple products and/or services. It can be a single operation or a multi-business company. Part I of your Plan is now due in Module 7.

Use the questions and tasks below as a guide in developing the first part of your strategic plan. It should be noted that everyone is encouraged to use any other relevant information beyond the questions below to showcase your strategic planning skills learned in this course. In addition to the course textbook, be sure to cite and use outside scholarly research where appropriate to support this plan. Furthermore, using keyword internet searches like Strategic Planning or Strategic Planning Templates will give you access to examples which will guide you with additional ideas.   

1. Describe your chosen business for this project and discuss in scholarly detail what forms of communication about the strategic management process would be helpful to the employees in your organization prior to beginning the process?

2. What are the basic products or services, primary market, and principle technology of your selected company and then prepare a mission statement for this business or fictional firm?

3. Conduct an External Environmental Scan for your selected company. Identify and Select key trends in the social and task environments which offer threats and opportunities to the organization. Organize the scan by placing the key trends into columns of threats, opportunities, or both.

4. What functions and services in your selected company define your core competencies? Which could be outsourced leaving the organization room to be more focused on what it does best? What critical skills should your organization develop? Also prepare a table showing company strengths and weaknesses

5. Using one (or a combination) of grand strategies, write long-term objectives for your selected company that exhibits the seven qualities of long-term objectives including: Acceptable, Flexible, Measurable, Motivating, Suitable, Understandable, and Achievable.  Furthermore, describe the grand business strategy or strategies that you will select to seek sustained competitive advantage and why you selected these strategies.