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MNG3702 assignment 1 semester 1 2024 (Full solutions)
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MNG3702Assignment 1 Semester 2 2024
Unique Number:
DUE DATE: 25 July 2024
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Question 1
Applying the Process Perspective of Strategic Management to the Michelin
Company
Strategic management is a continuous process that ensures an organization achieves
and sustains competitive advantage. The process perspective of strategic management
is traditionally broken down into three key stages: strategic planning, strategy
implementation, and strategy review and control. In the context of Michelin and the
development of the Michelin Guide, each of these stages can be examined to understand
how the company has managed to maintain its competitive advantage over time.
1.1 Strategic Planning
Strategic planning is the starting point of the strategic management process, where senior
management sets the direction for the organization. This stage involves comprehensive
analyses of both the internal and external environments, leading to the formulation of
strategic goals and objectives.
In Michelin’s case, the strategic planning stage began when the company was founded
in 1888 by André and Édouard Michelin. Recognizing the novelty and potential of
automobiles, the brothers sought to increase road travel to boost tire sales. They
innovatively decided to create a guidebook for motorists that included listings of hotels,
restaurants, mechanics, and gas stations. This strategic initiative aimed to promote road
travel and, consequently, increase the demand for tires. The publication of the first
Michelin Guide in 1900, with 35,000 copies distributed for free, exemplifies strategic
planning aimed at creating a lasting trend and establishing a brand presence beyond tire
manufacturing.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
, 0688120934
Question 1
Applying the Process Perspective of Strategic Management to the Michelin
Company
Strategic management is a continuous process that ensures an organization achieves
and sustains competitive advantage. The process perspective of strategic management
is traditionally broken down into three key stages: strategic planning, strategy
implementation, and strategy review and control. In the context of Michelin and the
development of the Michelin Guide, each of these stages can be examined to understand
how the company has managed to maintain its competitive advantage over time.
1.1 Strategic Planning
Strategic planning is the starting point of the strategic management process, where senior
management sets the direction for the organization. This stage involves comprehensive
analyses of both the internal and external environments, leading to the formulation of
strategic goals and objectives.
In Michelin’s case, the strategic planning stage began when the company was founded
in 1888 by André and Édouard Michelin. Recognizing the novelty and potential of
automobiles, the brothers sought to increase road travel to boost tire sales. They
innovatively decided to create a guidebook for motorists that included listings of hotels,
restaurants, mechanics, and gas stations. This strategic initiative aimed to promote road
travel and, consequently, increase the demand for tires. The publication of the first
Michelin Guide in 1900, with 35,000 copies distributed for free, exemplifies strategic
planning aimed at creating a lasting trend and establishing a brand presence beyond tire
manufacturing.
1.2 Strategy Implementation
Strategy implementation involves putting the strategic plan into action. This stage requires
the active participation of all levels of management and employees, translating strategic
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
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