Exam (elaborations)
MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
- Course
- Institution
QUESTIONS AND ANSWERS MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024
[Show more]
1 review
By: mokoenadobbs72 • 3 months ago
Seller
Follow
mulah11
Reviews received
Content preview
[Company name]MNG3702
Assignment 1
Semester 2 2024
(605474) - DUE 25
July 2024
[Document subtitle]
,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 a series of
steps that organizations follow to achieve and sustain a competitive
advantage. These steps typically include:
1. Strategic Analysis
2. Strategy Formulation
3. Strategy Implementation
, 4. Strategy Evaluation
Applying these stages to the Michelin company and the history of the
Michelin Guide will illustrate how Michelin has used strategic management
to sustain its competitive advantage.
1. Strategic Analysis
Explanation: This stage involves analyzing the internal and external
environments of the organization. Internal analysis looks at the company’s
resources, capabilities, and competencies, while external analysis
examines the industry environment, including competitors, market trends,
and regulatory factors.
Application to Michelin:
• Internal Analysis: Michelin recognized its strong brand reputation
and expertise in the tire industry. The company had substantial
resources and a long history of innovation in tire technology.
• External Analysis: Michelin analyzed the external environment and
identified an opportunity in the growing automotive tourism market.
They saw that motorists would benefit from reliable information on
places to eat, stay, and visit, which would, in turn, encourage more
travel and, consequently, more tire usage.
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 or Stuvia-credit 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 mulah11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.82. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now