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ASSIGNMENT QUESTION
Based on the outcome of the Group Strategy Simulation, write a 3000-word individual strategic report. Using key strategic concepts, models, and literature, as well as data and evidence from the strategy simulation where appropriate, the report must include the following themes and sections:
1. Evaluation of the strategic management, business model, and performance
Explain your strategy and evaluate the strategic management of your company, reflecting on the lessons learnt.
Explain the company’s business model and evaluate your company’s performance.
2. Analysis of the business environments
Evaluate the main trends and factors as well as principal risks and uncertainties in the external, competitive, and internal environments likely to affect the future position of your company.
Analyse your company’s internal resources and capabilities and the extent to which they provide sustained competitive advantage.
3. Evaluation of strategic priorities
Critically evaluate the impact of innovation on the future of your business.
Outline two areas of focus to drive growth through your commitment to
innovation.
ASSESSMENT CRITERIA
Task / Assessed LOs / Assessment Criteria / Points to consider Marks
LO1, 5: You are expected to demonstrate an understanding of key strategic management concepts, models and literature and apply strategic decision-making in ‘real-life’ contexts, as well as to identify and analyse key strategic problems, suggesting realistic and well- supported solutions.
LO2: You are expected to demonstrate an understanding of integrating business capabilities and functions in an analytical manner.
LO3,4: You are expected to demonstrate written presentation abilities and the ability to work as part of a team.
1. Evaluation of strategic management, business model, and performance
Explain how your company’s strategy and evaluate the strategic management of your company.
Reflecting on the lessons learnt, evaluate one major decision in each round from three perspectives:
o 1.Explainwhyyoutookcertaindecisions
30
o 2.Explainthecontext
o 3.Evaluatetheoutcome
Explain your choice of generic competitive strategy and how you
achieved competitive advantage.
Explain the company’s business model (value creation,
configuration, and capture) and aspects that differentiate it from
your competitors.
Applying the Balanced Scorecard, assess your company’s overall
performance.
2. Analysis of the business environments
Evaluate the main trends and factors as well as principal risks and uncertainties in the external, competitive, and internal environments likely to affect the future position of your company.
Evaluate the strengths of the five forces and the overall attractiveness of the industry.
Evaluate the extent to which external factors and competitive forces were at play in the simulation.
Analyse your company’s internal resources and capabilities and the extent to which they provide sustained competitive advantage.
Apply at least one model or framework to each environment, for example Pestle, Porter’s Five Forces, and VRIO.
30
3. Evaluation of strategic priorities
Explain specific actions taken in the strategy simulation to strengthen the company’s innovation mindset across different business functions.
With examples, evaluate the impact of innovation on the future of your business, outlining two areas of focus to drive growth through your commitment to innovation.
REFERENCES:
Barney, J. (1991) Firm resources and sustained competitive advantage. Journal of Management, 17, 1, 99–120.
Chesbrough, H.W. (2003) The era of open innovation. MIT Sloan management review, vol. 44, no. 3, pp. 35.
Harvard Business Review, Porter, M.E., Kim, W.C. and Mauborgne, R.A. (2011) HBR’s 10 Must Reads on Strategy (including featured article “What Is Strategy?” by Michael E. Porter). Boston: Harvard Business Review Press.
Kaplan, R.S. and Norton, D.P. (2007) ‘Using the balanced scorecard as a strategic management system’, Harvard Business Review, 85(7-8), pp. 150.
McKinsey & Co (2022) Choosing to grow: The leader’s blueprint. Available at:
https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our- insights/choosing-to-grow-the-leaders-blueprint (Accessed 21 June 2023)
Tidd, J. and Bessant, J.R. (2021) Managing innovation: integrating technological, market and organizational change, Wiley, Chichester.
Thompson, A.A., Peteraf, M.A., Gamble, J. E., and Strickland, A.J. (2021) Crafting and executing strategy: the quest for competitive advantage: concepts and cases. 23rd edn., New York, NY: McGraw-Hill.
Whittington, R., Regner, P., Angwin, D., Johnson, G., Scholes, K. (2021)., Fundamentals of Strategy 5th edn., Pearson: Harlow.
Whittington, R, Regner, P, Angwin, D, Johnson, G, and Scholes, K. (2023). Exploring Strategy – Text and Cases 13th edn., Pearson; Harlow.