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MNG3701 ASSIGNMENT 2 S2 2023 R50,00
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  3. University Of South Africa (Unisa)
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  5. Strategic Planning IIIA (MNG3701)

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MNG3701 ASSIGNMENT 2 S2 2023

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  • September 2, 2023
  • 16
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • explain the strategic importance of analysing the

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BRILLIANT TUTORS




MNG3701
ASSIGNMENT 2 (S2)
SOLUTION 2023




BRILLIANT TUTORS 0691643262
i|Page

,QUESTION 1




ii | P a g e

, 1 Introduction
In order to effectively navigate the ever-changing business landscape, organisations
must continuously evaluate and adjust their plans to ensure they are in line with their
internal resources and the external conditions they operate in. This assertion has
special validity when applied to huge corporations like as SPAR, which own
extensive worldwide operations and are entangled in the intricacies of the retail
industry. This paper examines the importance of strategic evaluation of the external
environment, methodological concerns for doing such analysis, and a
comprehensive examination of the environmental aspects of SPAR. The evaluation
of Spar’s business-level strategy is the final outcome, which is conducted in
conjunction with the aforementioned discoveries.

1 Strategic importance of External Environment Analysis

1.1 Identification of Opportunities and Threats
The external environment encompasses a wide range of dynamic factors, including
developing trends, changes in consumer preferences, legislative developments, and
technology breakthroughs. The process of examining this particular context has
resemblance to the act of traversing using a compass, wherein organisations may
strategically plan their trajectory by recognising prospective chances that have the
ability to foster expansion (Venter & Botha, 2022). These prospects may encompass
unexplored market sectors, increasing consumer demands, or novel technological
advancements. On the other hand, the external environment might potentially
conceal latent risks or hazards. These potential risks may arise from revolutionary
technology, evolving customer attitudes, emerging rivals, or unanticipated worldwide
occurrences, as to the Covid-19 epidemic. The programme known as 'Pharmacy at
SPAR' by SPAR serves as evidence of their ability to identify and use the increasing
inclination towards self-care and health awareness. By seizing upon this developing
opportunity, they have effectively positioned themselves at the forefront of the
industry.


1.2 Informed Strategic Decision Making
Within the dynamic realm of business, the process of decision-making encompasses
a fusion of intuition, experiential knowledge, and insights derived from data analysis.


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