Exam (elaborations)
MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
- Module
- Institution
MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024 QUESTIONS AND ANSWERS
[Show more]
Seller
Follow
msmartie11
Reviews received
Content preview
[Date]MNG3702 Assignment
1 Semester 2 2024
(605474) - DUE 25
July 2024
QUESTIONS WITH ANSWERS
,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)
The process perspective of strategic management involves several stages that
ensure an organization achieves and sustains a competitive advantage. Applying
this to the Michelin company, specifically focusing on the 'History of the Michelin
Guide,' we can analyze how Michelin has used strategic management to maintain
its competitive edge.
1. Strategic Analysis
Explanation: This stage involves understanding the internal and external
environment of the organization. It includes analyzing the company's strengths,
weaknesses, opportunities, and threats (SWOT analysis) and understanding the
competitive landscape.
Application to Michelin: Michelin began with the goal of promoting tire sales.
They recognized that the lack of reliable travel information was a barrier to long-
distance driving. The Michelin Guide was created to provide valuable travel
information, which in turn encouraged more travel and increased tire usage. By
, understanding the market need and leveraging their strengths in brand recognition
and resource availability, Michelin positioned itself as a valuable resource in the
travel industry, which indirectly boosted tire sales.
2. Strategy Formulation
Explanation: In this stage, the organization develops strategies to leverage
strengths, mitigate weaknesses, capitalize on opportunities, and defend against
threats. This involves setting long-term objectives and deciding on the actions to
achieve these objectives.
Application to Michelin: Michelin formulated a strategy to create a travel guide
that would not only promote safe and enjoyable travel but also increase brand
loyalty and awareness. By providing a comprehensive guide, Michelin
differentiated itself from competitors. The strategy included detailed maps, hotel
and restaurant recommendations, and travel tips, making the Michelin Guide a
must-have for travelers. This initiative created a strong association between the
Michelin brand and high-quality travel information.
3. Strategy Implementation
Explanation: This stage involves putting the formulated strategies into action. It
includes allocating resources, developing the organizational structure, and
managing change within the organization.
Application to Michelin: Michelin implemented its strategy by investing in
research and development to create the Michelin Guide. They allocated resources
to hire inspectors and writers to ensure the guide’s quality and reliability. Michelin
also established a distribution network to ensure the guide was widely available.
The successful implementation of the Michelin Guide required meticulous
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller msmartie11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.50. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62555 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now
Recently viewed by you
