• Textbook: Thompson, AA, Peteraf, MA, Gamble, JE, & Strickland, AJ 2014, Crafting and Executing Strategy: The Quest for Competitive Advantage Concepts and Cases, 19th edn, McGraw-Hill, New York. (ISBN: 9780078029509)
However, the 19th edition is not too different from the 18th edition or even some earlier editions. So students who cannot obtain the 19th edition might be able to use earlier editions with only a slight disadvantage.
Above text book must be used and referenced,
Your task is to undertake strategic planning for your own organisation or for an organisation you are familiar with in your country or region (Australia or Singapore).
Locate the vision statement, mission statement, statement of values and formal objectives of your chosen organisation. Not all organisations have a statement of values; if that is the case, you can do without the statement of values. Not all organisations have formal objectives; if that is the case, you will be required to develop some appropriate objectives as part of the assignment.
Write a report in which you:
• Briefly describe the organisation and its industry.
• Identify the vision statement, mission statement and statement of values; explain their appropriateness for the organisation; suggest potential improvements.
• Identify objectives; analyse their appropriateness for the organisation; suggest potential improvements.
• Undertake an internal analysis of the organisation and an analysis of its external environment, using appropriate strategic management tools (from the above text book).
• Develop an appropriate strategy for the organisation. Make sure you explain why the strategy is relevant and how it relates to vision / mission / objectives. Clearly justify your argument.
• You do not need to develop implementation processes. But you should mention the critical importance of implementation, execution and evaluation of the strategies you come up with for this assignment.
Note: In a real world strategic plan it is unlikely that you would use formal referencing. While you might not use referencing in an actual strategic plan, you would definitely source your information from various company/industry reports and from journal articles. In this assignment you are required to make the use of such sources explicit through referencing.
Include the below –
• Demonstrate understanding of the theoretical concepts and frameworks of strategic management.
• Critically analyse and evaluate an organisation’s vision, mission and statement of values.
• Carry out an environment analysis using several strategic management tools.
• Apply strategic management concepts and frameworks to a specific workplace setting.
• Formulate a strategic plan for a business unit or department.
• Structure, presentation – 12 point Calibri
Recommendations (where relevant)