MGT4070 W1 Discussion
For this assignment, make sure you post your initial response to the Discussion Area by the due date assigned, May 12, 2018. To support your work, use your course and text readings and also use outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format. An Organization: Its Mission and Strategic Intent In this discussion, you will consider a company’s strategic intent, its mission, and the role of stakeholders in developing an organization’s strategy. Select any two of the main questions and address all of their bullet points: Question 1: You have learned that stakeholders have profound impact on the direction and the success of a company. Based on your readings and learning, complete the following tasks: • Define the various classifications of stakeholders in a company and their role in strategic management decisions. • Explain the connection between stakeholders and competitive advantage. Question 2: You learned that strategic intent is an extension of a company’s organizational culture and the cornerstone of the firm. Based on your readings and learning, complete the following tasks: • Discuss the importance of strategic intent and its impact on organizational success. • Discuss why it is important and how an organization can move from intent to implementation. Question 3: Based on your readings and learning, complete the following tasks: • Describe the attributes of an effective strategist. • Explain how you would create and sell a strategic mission to stakeholders. Question 4: We cannot always control political, technological, economic, or cultural issues. Given that, answer the following questions: • How often would you reevaluate your business strategy to maintain a competitive edge in the market place? • What factors would you use to evaluate the need for change, and what tools would you use to make the changes? • While performing an external environmental analysis, how important is it to use all four components and why?