Essay
MNG4801 MAY SUPP 2023
- Institution
- University Of South Africa (Unisa)
- Book
- Strategic Management
THE EXAM SCRIPT ANSWERS ALL QUESTIONS THAT WERE IN THE MAY/JUNE 2023 SUPPLIMENTARY EXAMINATION.
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Table of Contents
Question 1: ................................................................................................................. 3
Question 2 .................................................................................................................. 7
Question 3 ................................................................................................................ 10
, 0717513144 MNG4801 SUPP EXAM 2023 muzavazi47@gmail.com
Question 1:
Critically discuss the inside-out and outside-in perspectives that strategic
leaders adopt when managing strategically. Briefly introduce each of these
perspectives theoretically and argue which one of these has been adopted by
Paul Saad. Use examples from the case study to support your discussion. No
marks will be awarded for drawing figures.
Inside-out perspective
The inside-out strategy is a business and marketing approach that prioritises the
internal capabilities and strengths of an organisation, including streamlined
protocols, efficient processes, and a skilled workforce (Louw & Venter, 2019). The
primary objective of this strategy is to maximise the utilisation of these resources to
develop a valuable product or service that can be marketed to potential customers.
An inside-out strategy in business involves starting with an idea, acquiring the
necessary talent to execute the concept, and subsequently developing it. The
objective is to communicate to the public how the new product or service can
enhance their lives by making it more convenient, enjoyable, or fulfilling. A case in
point of an inside-out strategy is a company that designs a unique product not driven
by market demand but by the conviction that the product has the potential to be a
desirable commodity. The company can then allocate its resources towards
producing a product of the highest quality, which in turn draws in customers.
Outside-in perspective
The outside-in approach entails prioritising the identification of consumer needs over
an organization's internal strengths. This approach involves addressing market gaps
that existing products and services fail to satisfy (Widayanto, 2022). To implement
this strategy, an organisation must conduct research to comprehend the market's
orientation that it intends to target. This approach compels businesses to adopt a
consumer-centric perspective and develop products or services that offer evident
value. For instance, Saad's objective was to create a nutritionally dense product that
was free from preservatives, gluten, and lactose. The individual conveyed that the
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