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MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
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MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
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MNG3702Assignment 1
Semester 2 2024
(605474) - DUE 25
July 2024
QUESTIONS WITH COMPLETE ANSWERS
[DATE]
[COMPANY NAME]
[Company address]
,MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
Question 1
“The aim of strategic management is to ensure that an organisation achives a
competitive advantage and sustains its competitive advantage over competitors.” Apply
the process perspective of strategic management process to the Michelin company,
focusing on the ‘History of the Michelin Guide’. In your answer, you need to explain
each stage in the process perspective of strategic management and apply it to Michelin
and the development of the Michelin Guide as an effort of the company to sustain its
competitive advantage. (21 marks, of which 7 marks will be awarded to each of the
stages correctly explained and applied to the case)
To analyze the Michelin company's development of the Michelin Guide through the lens
of the process perspective of strategic management, we need to break down the
strategic management process into its main stages and apply each to the historical
development and impact of the Michelin Guide. The strategic management process
typically includes the following stages:
1. Strategic Analysis
2. Strategy Formulation
3. Strategy Implementation
1. Strategic Analysis
, Explanation: Strategic analysis involves understanding the internal and external
environments in which the organization operates. This includes analyzing the industry,
market conditions, competitors, and the organization's strengths, weaknesses,
opportunities, and threats (SWOT analysis).
Application to Michelin:
• Historical Context: In the early 20th century, Michelin was primarily a tire
manufacturing company. At that time, automobile travel was becoming more
popular, and there was a growing need for reliable travel information.
• Opportunity Identification: Recognizing that promoting automobile travel could
increase tire sales, Michelin identified an opportunity to create a guide that would
encourage people to travel more.
• SWOT Analysis:
o Strengths: Michelin's strong brand and reputation in the automotive
industry.
o Weaknesses: Limited direct engagement with end consumers beyond tire
sales.
o Opportunities: Growing automobile market and the need for travel
information.
o Threats: Competition from other tire manufacturers and alternative travel
guides.
2. Strategy Formulation
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