“Where to compete” and business strategy

Corporate strategy addresses “where to compete” and business strategy addresses “how to compete” (Rothaermel, 2021, p. 313). Choose one business in chapters 7 and 8 and describe one aspect of this business where you see a failure of management. In other words, what is one thing the strategic managers of this firm should have or could have done differently to help move the company forward. Be sure and include in your discussion how this firm addresses “where” to compete and how this firm addresses “how” to compete. Is there a failure in the “where” to compete or is there a failure in ‘how” to compete? Analyze that failure and offer a solution that you as the strategic manager would have implemented.

This case may be based on your opinion. However, you must back up your opinion with sound research and fact.

Sample Solution

Modern business can benefit from an online presence

(Christopher)Nearly any modern business can benefit from an online presence, the question largely comes down to scope and goals. Many large firms have dedicated IT teams and multiple online platforms ranging from in house systems to websites and online store fronts. However, for a non-IT type of business such as a chain of barbecue restaurants the scale will likely be much smaller but the positive impact no less potent.

For starters, a website is a relatively low cost and simple solution to increasing advertising effectiveness, customer satisfaction, and general information transmission. Unless the restaurant wants to shift focus to being more delivery orientated than most aspects of the process should be outsourced and/or kept to an extremely small, designated IT team.

Additionally, since goals are relatively static and simple, I would recommend going with a standard SDLC oriented methodology. Such a system has clear sequential phases and concrete metrics that non-technical management can effectively oversee. The limited staff (likely one person) can design and propose solutions and leave testing and development to be outsourced staff. Outsourced hardware and third-party software are likely to also be the most efficient. For example, cloud computing can be used to sidestep the massive initial cost of a server system and can be cheaply scaled to match business growth. Since restaurants generally aren’t an ideal environment for servers this also sidesteps that issue.

Through a combination of third party software and a minimum staff in house systems such as PoS and hardware maintenance should be effectively handled.

In terms of m-commerce, unless a shift towards a delivery focused model is desired, I believe it should be a side project at most. In terms of managing and increasing deliveries the convenience of the mobile platform can be a great boon. However, there are many potential negative consequences with mobile payment methods among many demographics, potentially causing anxiety among the customer base (S Verkijika, 2022) and since it offers little benefit to a sit down restaurant it should not be a priority

Development tools

For website design a third party service is likely more cost effective and appropriate than developing something from the ground up. Since this is a non-delivery focused restaurant largely static web pages should be sufficient.

Hardware

Limited to a small number of workstations and Point of Sale equipment. Most hardware should be outsourced and/or cloud based.

In-house or outsource

Outsource as much as possible , a large IT team will likely result in paying people to do nothing at this scale.

M-Commerce

Possible long term goal if a shift towards delivery is required. Since it is not an immediate need it can be a long term side project for the limited in house IT staff.

Merchant software

Third party software will likely be sufficient as a generally a restaurant would have nothing to gain by designing its own software.

Software

Largely the same as above

Web servers

Outsourced to the cloud. this allows the restaurant to save on space, hardware investment, and is cheaply scalable.

Website performance improvement

Should remain largely static. Things such as menu changes or announcements can be handled by limited in house IT staff.

Sample Solution

How lack of vision fail the organization

How does lack of vision fail the organization?
How does leading with passion help maintain the vision?
What are the problems associated with being nice?
How does the prefrontal cortex affect decision making?
Why should goals be built on strengths?
What is your learning style?
What is the importance of mentors and coaches?
Explain the power of relationships

Sample Solution

Business approach of diversifying

review the approaches for diversifying the business lineup and whether they pass the three tests of corporate advantage.

Pick a company and name the company as you write about it, which type of diversification would you choose and why (related or unrelated)?
Which business approach of diversifying would you choose (acquisition, internal startup, or joint ventures with other companies), and why?

Sample Solution

Prime Characteristics of Globalization: Blending/Merging of Cultures’ term.

Discuss your selected Key ‘Prime Characteristics of Globalization: Blending/Merging of Cultures’ term.

You should explain why you are interested in the term, an explanation of the term, a summary of the germane current literature, and specifically how this relates to Globalization and Culture.

Sample Solution

Conventional business and government megaprojects

In conventional business and government megaprojects–such as hydroelectric dams, chemical-processing plants, or big-bang enterprise-resource-planning systems–the standard approach is to build something monolithic and customized. Such projects must be 100% complete before they can deliver benefits: Even when it’s 95% complete, a nuclear reactor is of no use. On the basis of 30 years of research and consulting on megaprojects, the author has found two factors that play a critical role in determining success or failure: replicable modularity in design and speed in iteration. The article examines those factors by looking at well-known megaprojects, both successful ones, and cautionary tales.

Case Study Link

Using your knowledge of stakeholders, stakeholder management, and the Megaproject case studies linked above, answer the following:

a. Develop a stakeholder matrix for a mega project

b. Describe stakeholder issues that could arise when managing a megaproject.

c. Identify 2-3 stakeholders and their role within a megaproject.

Sample Solution

The most important elements in a business plan is the market analysis.

One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value, characteristics of the intended customer base, in-depth evaluation of the competition, barriers to entry, and the regulatory environment. An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. In this assignment, you will complete a market analysis for your proposed organization and create a report that can be included within a business plan.

Instructions
Write a 500-word report that includes the following sections:
Section 1: Business overview, mission, and vision-20 Points
Section 2: A Market analysis that includes the following components:-30 Points
Section 3: Recommendation-20 Points

Sample Solution