|
Scenario and Activity
Business Strategy plays
a crucial role in guiding a firm’s growth, competitiveness, and success. It
offers a roadmap for decision-making, resource providing, and adaptation to
transforming circumstances, ensuring that a firm stays agile, focused, and
well-prepared to achieve its goals successfully. For this reason, business leaders need to continuously evolve, educate
themselves in creating and executing effective strategies.
Much more so that in the recent time, there
is a concern that China is becoming a big rival innovator of the Western
nations’ competitive position in advanced industries. In most of these
industries, that include aerospace, automotive, robotics, and advanced
materials, China has been able to gain market share through the advantages of
scale economies in its often-protected home market, combined with significant
subsidies to Chinese firms. This is why, in 2020, in 7 of 10 the advanced
industries, China led in global production, with the United States leading in
only 3. The position may have changed favourably towards China with the
competitions evolving in developing AI infrastructures.
While the evidence suggests that China
hasn’t yet taken the overall lead, it has pulled ahead in certain areas, and
in many others. Chinese firms will likely equal or surpass Western firms
within a decade or so; as it has assumed a new stage in its economic
development, with much greater innovation capabilities in its universities
and domestic companies—and on many innovation indicators, which may be an
indication that China is perhaps now leads the United States and West Europe,
including Great Britain. This is possible because of the combination of low
costs of operations and the growing innovation capability; making an
increasing number of Chinese companies having formidable global competitors.
As a Junior Strategy Manager working in an
organisation of your choice, you have been tasked with the responsibility
of producing a strategic management plan (in a report to your line manager) that
creates a set of valid strategic directions, objectives and
tactical actions for successfully achieving strategic alignment, based on
critical interpretation of internal and external data, and information.
Within the report, you should critically analyse
the macro environment to determine and inform the strategic management
decisions of the selected organisation, while the assessment of the internal
environment and capabilities should generate an interpretation of
information and data to assess the strengths and weaknesses of the
internal capabilities, structure and skill set of your selected organisation using appropriate frameworks.
In addition to the situation analysis above, you
will need to justify the use of an appropriate strategic management
tool to inform strategy and strategic objectives for your chosen organisation
within its specific market sector.
Resultantly, use appropriate models and concepts to produce
a strategic management plan that has tangible and tactical strategic
priorities and objectives to improve competitive edge and market position.
Note
From the following list of companies, you will
need to choose any one company, as a reference company to complete this unit
assignment.
You must get your lecturer’s approval on your selection before
proceeding to work on your assignment report.
|
