MNG3701 Assignment 2 Due 16 September 2024 (Detail Solution)
21 views 0 purchase
Course
Strategic Planning IIIA
Institution
University Of South Africa
Book
Strategic Planning: Readings
Questions 1 a) Explain the importance of analysing the micro-environment. Briefly
explain any three approaches that can be used to analyse the micro-environment. b)
Use the information in the case-study to Identify two strengths and two weaknesses.
10 MNG3701/101/3/2024 27 2 Strategic leaders...
DPR3705 Assignment 2 Semester 2 Due 27 September 2024
All for this textbook (2)
Written for
University of South Africa
Strategic Planning IIIA
All documents for this subject (63)
Seller
Follow
GeniusGears
Reviews received
Content preview
MNG3701
Assignment 2
Semester 2
Unique No: 620712
DUE 16 September 2024
, Question 1
a) Importance of Analyzing the Micro-Environment
Analyzing the micro-environment is crucial because it allows businesses to
understand the internal factors that can influence their operations, strategic
decisions, and overall performance. The micro-environment consists of factors
directly related to the company, including suppliers, customers, competitors,
distributors, and internal processes. Key reasons why analyzing the micro-
environment is important include:
Identifying Strengths and Weaknesses: Understanding what the company does well
(strengths) and areas that need improvement (weaknesses) helps in optimizing
operations and improving competitiveness.
Enhancing Customer Satisfaction: By analyzing customer needs and feedback,
companies can adjust their products or services to better meet market demand,
thereby increasing customer satisfaction and loyalty.
Anticipating Competitive Actions: Understanding competitors' strategies helps in
anticipating their moves and developing counter-strategies to maintain or improve
market position.
Approaches to Analyze the Micro-Environment
SWOT Analysis: This approach involves identifying the Strengths, Weaknesses,
Opportunities, and Threats of a company. Strengths and weaknesses are internal
factors, while opportunities and threats are external, providing a comprehensive view
of the company’s strategic position.
Porter's Five Forces Analysis: This model assesses the competitive forces within an
industry, including the bargaining power of suppliers and buyers, the threat of new
entrants, the threat of substitute products, and the intensity of competitive rivalry. It
helps businesses understand the dynamics affecting their competitive environment.
Value Chain Analysis: This approach examines the internal activities of a company
to identify areas where value can be added or costs can be reduced. It breaks down
the company’s operations into primary and support activities, assessing how each
contributes to the overall value delivered to customers.
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 GeniusGears. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.76. You're not tied to anything after your purchase.
