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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
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MNG3702 Assignment 1(COMPLETE ANSWERS)
Semester 2 2024 (605474) -
DUE 25 July 2024
100% GURANTEE
, MNG3702 Assignment 1 (COMPLETE ANSWERS)
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 address the question, we will use the process perspective of strategic management, which
generally includes the following stages: environmental scanning, strategy formulation, strategy
implementation, and evaluation and control. Each of these stages will be explained and then
applied to Michelin and the development of the Michelin Guide to illustrate how it has been used
to sustain Michelin’s competitive advantage.
1. Environmental Scanning
Explanation: Environmental scanning involves the systematic collection and analysis of
information about relevant trends, opportunities, threats, and potential actions in the external
environment. This helps an organization understand the external factors that can impact its
performance.
Application to Michelin and the Michelin Guide: Michelin initially started as a tire
manufacturing company. During the early 20th century, the company recognized a critical trend:
the rising popularity of automobiles and the potential growth of road travel. Michelin observed
that there was a lack of reliable information for motorists about where to find good food,
lodging, and repair shops during their travels.
To address this gap and encourage more travel (which in turn would increase tire sales),
Michelin created the Michelin Guide in 1900. This guide provided valuable information to
travelers, thereby promoting longer journeys and higher tire consumption. By recognizing this
trend and acting upon it, Michelin could influence travel behavior, ultimately benefiting its core
business.
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