Task: For the same organization you examined in your week 7 paper, complete an analysis of the key external factors that have implications for successful implementation of that organization’s strategy and goals/objectives. You will examine your organization’s industry and the competitive conditions affecting it now or likely to do so in the future. Submit your work in your assignment folder in the form of an approximate 2,500 word double-spaced APA formatted paper. The title page, abstract, reference list, and appendices are not included in this suggested word count.
Perspective: Continue with the perspective of a management consultant who has expertise in all stages of the strategy development and implementation process.
Things to include in your analysis:
1.A brief explanation of the industry (or industries) in which your organization operates.
2.Use the structure-conduct-performance (S-C-P) model to help prepare a summary of the key characteristics of your industry. See Barney and Hesterly’s Figure 2.2 for a synopsis. You may also find this McKinsey & Company discussion, with an interactive component, a helpful resource: McKinsey and Company on the SCP framework.Those in the nonprofit and public sectors might find this application of the framework to higher education sector a useful example: Dynamics of the U.S. Higher Education Sector
3.Analyze the current conditions in your organization’s industry and in its relevant general environment and their likely implications for successful implementation of your organization’s strategic goals and related actions.
4. Apply the Five-Forces Model to enrich your understanding of the environment in which your organization is now or may be operating.
5. Describe your organization’s strategic group and construct a map to show its relative market position. Here is just one example:
6. Examine the likely strategic moves of the rivals you have identified. You might find this McKinsey article helpful: Getting into your competitor’s head. Here is an image that illustrates their suggested approach:
7. Complete the SWOT you began in week 5, adding in a summary of threats and opportunities gleaned from your analysis, including a narrative of your supporting rationale.
8. Identify key success factors (KSFs) for your industry. Just to offer a different perspective, here is a graphic that suggests key success factors for family-owned businesses:
Source: https://www.ey.com/US/en/Services/Strategic-Growth-Markets/EY-family-business-services
9. Revisit your findings and analysis pertaining to your firm’s internal environment in your week 5 report and include any points that merit rethinking given what you now know about the organization’s external environment.
10. Evaluate the extent to which your organization’s current strategy appears a good match for the competitive conditions it confronts.
Wrap up your analysis with a summary of major conclusions and recommendations resulting from your analysis of your organization and its industry.
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