Strategic management

As a health care manager, you will be involved in strategic management. Discuss the following in regard to this:

Does strategic management involve long-term or short-term activities?
Describe how strategic management helps your facility control the future.

Sample Solution

Strategic management

write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
As a health care manager, you will be involved in strategic management. Discuss the following in regard to this:
• Does strategic management involve long-term or short-term activities?
• Describe how strategic management helps your facility control the future.

Sample Solution

Strategic Management

Review the Strategic Management Project Background document.

Review the following terms and concepts discussed this week to prepare for this assignment:

vertical integration
taper integration
backward vertical integration
forward vertical integration
strategic alliances
global strategy
international strategy
innovation
Create a Word doc and title it Strategic Management Research Journal Part 4.

Write a 525- to 700-word response to the following prompts in your journal entry:

Identify Caterpillar Inc.’s short-term and long-term goals.
Evaluate how mergers and acquisitions in the last 3-5 years have contributed to Caterpillar Inc.’s performance and affected its organizational goals.
Determine the most critical merger or acquisition that has contributed to Caterpillar’s performance and success in achieving organizational goals. Defend your choice.
Evaluate the effectiveness of Caterpillar’s operational plan for global strategies (international, multi-domestic, global-standardization, or transnational). Include supporting research or data.

Sample Solution

Strategic Management

Individual Case Study Report and Presentation, Questions::

You will prepare a case study report, maximum 5 pages of written content, APA style. In addition you are asked to prepare a presentation using the specific questions listed below. Keep to 5 pages for content in report, and max of 10 slides and 10 minutes of recorded presentation.

Cover page, case study summary, and then answer questions, using questions as headings. Add Reference page as required.

ASSIGNMENT QUESTIONS:

Using Porter’s five-forces framework, identify and analyze the external opportunities and threats of the

medical device industry.

Using the resource-based view (VINE model), identify and analyze the internal resources and

capabilities of the venture.

Using the financial information provided, conduct a ratio analysis of the firm.

Using the Ansoff Matrix, identify the product-market fit and strategic positioning of ORA.

Summarize the acute internal and external analyses in an enterprise risk map.

Using the completed internal and external analyses, identify ORA’s strategic options and recommend

a future course of action for Selanders.

Presentation Questions:

  1. include question 1 from report in presentation
  2. include question 2 from report
  3. What are ORA’s strategic options? Make your recommendation and support this recommendation for a future course of action for Selanders.

Sample Solution

Strategic Management

Read the document.

Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment:

strategic management
competitive advantage
strategic plan
mission statement
vision statement
core values statement
AFI
Create a Word document and title it Strategic Management Research Journal Part 1.

Write a 500- to 700-word response to the following prompts as your journal entry:

Justify the guiding principles required for preparing effective statements that describe the mission, vision, and the core values of an organization as covered in the assigned reading.
Compare whether Caterpillar Inc.’s mission, vision, and core values conform to the guiding principles in the text and support organizational strategic planning principles as justified in prompt #1. Refer to the Caterpillar Inc. website listed in the Resources section below.
Assess what Caterpillar Inc.’s current competitive advantages and disadvantages are by considering their business partners, allies, and general operations. Research the assignment resources listed below. Based on your research, evaluate Caterpillar’s current competitive advantages and disadvantages.
Note: You will use information from this entry in your Strategic Management Research Project Presentation due in Week 5.

Sample Solution

Strategic Management

Choose the top 1 or 2 of the alternatives and identify this as your recommendation. Tell why you chose this strategy.

Types of strategies:

SO strategy

  • Strengths & opportunities
  • Use of internal strengths to exploit external opportunities
  • Consider all strengths one by one listed in the SWOT analysis with each opportunity to determine how each internal strength can help you capitalize on each external opportunity
  • For example… strengths such as high brand recognition or customer loyalty could be combined with the opportunity to launch a new product or service

ST strategy

  • Strengths & threats
  • Use of internal strengths to avoid or minimize the impact of external threats
  • consider all strengths one by one listed in the swot anakysus with each threat to determine how each internal strength can help you avoid every external threat

WO strategy

  • Weakness and opportunities
  • Overcoming internal weakness by exploiting external opportunities
  • Consider all weaknesses one by one listed in the swot analysis with each opportunity to determine how each internal weakness can be eliminated by using each external opportunity
  • May have identified an opportunity to outsource some aspects of its business operations, overcoming the weakness of lack of specific skills within the organization
  • For example…

WT strategy

  • Weakness and threats
  • Overcoming internal weakness and minimizing external threats
  • Consider all weaknesses one by one listed in the swot analysis with each threat to determine both can avoid
  • For example… strategies could include developing strategic alliances or a more drastic strategy could be to withdraw from specific market altogether

Sample Solution

Strategic management

Review Case 4: Costco Wholesale in 2016: Mission, Business Model, and Strategy Case Study in your textbook and the following videos
https://youtu.be/mCU1hLF7jE0
https://youtu.be/05Oji32ZYks
Answer the following:

  1. What is Costco’s business model? Is the company’s business model appealing? Why or why not?
  2. What are the chief elements of Costco’s strategy? How good is the strategy?
  3. Do you think Jim Sinegal was an effective CEO? What grades would you give him in leading the process of crafting and executing Costco’s strategy? What support can you offer for these grades? How well is Craig Jelinek performing as Sinegal’s successor? Refer to Figure 2.1 in Chapter 2 in developing your answers.
  4. What core values or business principles did Jim Sinegal stress at Costco?
  5. What is competition like in the North American wholesale club industry? Which of the five competitive forces is strongest and why?
  6. How well is Costco performing from a financial perspective?
  7. Based on the data in case Exhibits 1 and 4, is Costco’s financial performance superior to that at Sam’s Club and BJ’s Wholesale?
  8. Does the data in case Exhibit 2 indicate that Costco’s expansion outside the U.S. is financially successful?
    Why or why not?
  9. How well is Costco performing from a strategic perspective? Does Costco enjoy a competitive advantage over Sam’s Club? Over BJ’s Wholesale? If so, what is the nature of its competitive advantage? Does Costco have a winning strategy? Why or why not?
  10. Are Costco’s prices too low? Why or why not?
  11. What do you think of Costco’s compensation practices? Does it surprise you that Costco employees apparently are rather well-compensated?
  12. What recommendations would you make to Costco top management regarding how best to sustain the company’s growth and improve its financial performance?

Sample Solution

Strategic management

  1. Understand the contribution of various functional areas e.g. production, marketing, purchasing and supply management to the overall well-being of the organization (Lo 1.2.)
  2. Gain insights into the strategy-making processes of different types of organizations (Lo 1.7)
  3. Identify appropriate strategies for different situations (Lo 3.1).

Assignment Questions (5 Marks)

Consider the same company ‘X’ that you have already used in assignment 1 and answer the following questions

  1. Describe the roles of directional, marketing, operations and human resource strategies in the overall well-being of your selected company. (2 marks)
  2. Classify the products of your selected company based on the BCG matrix. (fill out the table in the answer sheet) (1 mark)
  3. Describe at least one partnership that your selected corporation has with other company (es). Is it successful? Justify. (1mark)
  4. Describe the structure of your selected company. (1 mark)

Assignment Answers:

  1. Describe the roles of directional, marketing, operations and human resource strategies in the overall well-being of your selected company. (2 marks)

Answer:

………………

  1. Classify the products of your selected company based on the BCG matrix. (fill out the following table) (1 mark)

Answer:

Table 1. BCG matrix of the company ‘X’

Stars Question Marks

1.

1.

Cash Cow Dogs

1.1.

Relative market share

  1. Describe at least one partnership that your selected corporation has with other company (es). Is it successful? Justify. (1mark)

Answer:

………………

  1. Describe the structure of your selected company. (1 mark)

Answer:

………………

Sample Solution

Strategic management, strategic thinking, strategic planning

Write an 8–10 page strategic plan. Your plan must include the numbered elements listed below. Note that the instructions correspond to the grading criteria for this assignment. You may also want to review the performance level descriptions for each criterion in the scoring guide to see how your work will be assessed: 

Differentiate between strategic management, strategic thinking, strategic planning, and managing strategic momentum. 
Propose one specific analytical tool suitable for use as an adaptive strategy or strategies that will be the most effective in helping an organization achieve its strategic plan. 
Propose the manner and provide an example of how the selected analytical tool will be used to support the strategic proposal. 
Research three internal and three external factors that could become barriers to the success of the proposed strategic plan. 
Recommend at least one solution to each of the possible barriers to implementing your proposed strategic plan. 
Determine the specific segment of the market that your organization’s strategic plan will target. 
Recommend the most effective approach to marketing your strategic plan and provide examples. 

Sample Solution