Michael Porter’s 5 competitive force model is a framework that can be used in the strategic management process. Explain in detail the purpose of strategists using Michael Porter’s 5 competitive forces model with the support of an example.
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Michael Porter’s 5 competitive force model is a framework that can be used in the strategic management process.
- Explain in detail the purpose of strategists using Michael Porter’s 5 competitive forces model with the support of an example.
There are THREE situations in the case that are representative of elements in Michael Porter’s 5 competitive forces model.
Describe these situations in the case by making reference to the respective elements
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- McKinsey 7S Model is a strategic assessment and alignment model. The 7S modelportrays seven elements of an organization as shown below:(a) Define each of these elements within the context of an organization (b) These elements are divided into two categories. Name the two categoriesRead the following and Answer the questions that follow: One of the reasons’ companies develop Web sites is to attract more customers. The types of attractors that found are as follows: The entertainment park; the archive; exclusive sponsorship; the town hall; the club; the gift shop; the freeway intersections or portals; and the customer service centre. It has been established that all these types of attractors are very important for any company. Required: a) Discuss any three (3) types of attractors and where possible give examples to show how these attractors operate and assist business to achieve their goals. b) Service is often differentiated from products, and the four (4) distinct service features that distinguishes service from products are: intangibility; simultaneity; heterogeneity; and perishability. Evaluate the four (4) features that differentiates service from product.Write a business and market overview for a retail store that wishes to implement an M-Commerce Solution to Enhance Customer Experience. The business and market overview should contain the following sections: The client’s organization Management Business model Their products and services Their growth strategy Further elaborate on the distinct external pressures on their business. This section must include an illustration Porter’s Model with the unique and specific pressures that the client's organization faces.
- In the strategic management process, step 4 (formulating strategies) requires that strategies be established for the A) corporate level B) business level C) functional level D) corporate and business levels E) corporate, business and functional levelsPeruse the business group listings for 3M Company shown as follows and listed at its investor relations site (investors.3m.com). How would you characterize the company’s corporate strategy? Related diversification, unrelated diversification, or a combination related-unrelated diversification strategy? Explain your answer. Consumer Products—for the home and office including Post-it (R) and Scotch (R) Transportation and Electronics—automotive and aerospace films and tapes; electronics assembly solutions Health Care—filtration systems, wound care products, dentistry products, health care software solutions Safety and Industrial—abrasives, adhesives, specialty materials, and filtration systems, safety and security productsSuppose you are a Marketing Manager of a 5-star Hotel located in Baguio City, Philippines. You are tasked to perform a SWOT analysis to know what are factors expected to affect the company's operations. Examine each situation and identify whether it is a Strength, a Weaknesses, an Opportunity, or a Threat to your company. Answer: S. If the situation refers to a Strength W. If the situation refers to a Weakness O. If the situation refers to an Opportunity T. If the situation refers to a Threat ___1. Excellent staff who are highly trained and very customer attentive. ___2. Business taxes will increase by 3% next year. ___3. The present promotional activities have a great appeal to customers. ___4. Some employees have problems dealing with arrogant customers who give out unfavorable comments. ___5. Sometimes overlook financial issuances of check and deposited cash. ___6. hotel rates are high which contradicts to the company's positioning of "Premium Quality Services at an Affordable…
- SWOT analysis focuses on the internal (resources andcapabilities) and external environmental characteristics of a company. However, SWOT analysis does not provide advice as Ito how the environmental problems of this company are addressed without scientific instruments or model for the analysis of the climate. Describe the instruments or models that are typically used to analyse the powers and internal properties and capacities of industry.Which of the following factors was probably the most important consideration in Uber's decision to purchase Postmates with respect to whether or not the meal delivery services industry presented a sufficiently attractive business opportunity? O constructing a strategic group map to assess the attractiveness of the competitive position of each strategic group to determine the overall attractiveness of all the strategic groups in the food delivery industry O using value chain analysis to determine the relative cost positions of rival firms in the food delivery industry and who is the industry's lowest-cost producer O determining which firms in in the food delivery industry have a competitive advantage and how they attained their advantage O determining the overall strength of the five competitive forces shaping the food delivery industry O determining the outlook for future profitability in the food delivery industryPROBLEM-SOLVING EXERCISES 1. Do research on the Web to find several popular Web auction sites. After researching these sites, use a word processor to write a report on the advantages and potential problems of using a Web auction site to purchase a product or service. Also discuss the advantages and potential problems of selling a product or service on a Web auction site. How could you prevent scams on an auction Web site? 2. The Internet can be a powerful source of information about various industries and organizations. Locate several industry or organization Web sites (TWO is enough). Which Web site is the best designed? Which one provides the most amount of information? 3. Research some of the potential disadvantages of using the Internet, such as privacy, fraud, or unauthorized Web sites. Write a brief report on what you found.
- Strategic management is the process of formulating and implementing strategies to achieve the long-term objectives of an organization. It involves analyzing the internal and external environment, identifying opportunities and threats, and developing strategies to capitalize on strengths and mitigate weaknesses. Strategic management requires vision and foresight to anticipate future trends and adapt to changing market conditions. It also involves making tough decisions about resource allocation and prioritization to ensure that the organization remains competitive and sustainable in the long run. Effective strategic management enables organizations to stay focused on their goals, make informed decisions, and remain agile in the face of uncertainty. Question: How does strategic management help organizations maintain a competitive advantage in dynamic market environments?The type of operational planning may cover the medium-term needs of the business including budgeting, the purchasing and supply methods, negotiation and development of human resources. Choose the correct answer 1 strategic level planning 2 tactical or middle- management planning 3 operations level planning 4 operational planning 4 short- term planningComplete a SWOT analysis the on ABC Corporation. Strategic Analysis Data: This includes information generated during the external analysis (e.g., environmental scan) and internal analysis (e.g., SWOT analysis). It also includes a list of strategic issues identified during these analyses.