Exam (elaborations)
MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
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- University Of South Africa
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MNG3702 Assignment 1(COMPLETE ANSWERS)
Semester 2 2024 (605474) -
DUE 25 July 2024
WHATSAPP: 0700422256
, 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 this question, we'll apply the process perspective of strategic management to
Michelin and the development of the Michelin Guide, emphasizing how it helped the company
achieve and sustain a competitive advantage. The process perspective of strategic management
typically involves three main stages: strategy formulation, strategy implementation, and strategy
evaluation. We'll explain each stage and apply it to Michelin's case.
1. Strategy Formulation
Explanation: Strategy formulation involves identifying the company’s mission, vision, and
objectives, conducting a SWOT analysis (assessing internal strengths and weaknesses, and
external opportunities and threats), and developing long-term plans to achieve competitive
advantage.
Application to Michelin:
Mission and Vision: Michelin’s mission is to improve mobility through innovative
solutions and products, while its vision includes enhancing customer satisfaction and
safety. The Michelin Guide aligns with this mission by promoting quality and safety in
the travel and hospitality industry.
SWOT Analysis:
o Strengths: Michelin’s strong brand reputation and extensive knowledge of the
tire and travel industries.
o Weaknesses: High costs associated with maintaining the quality and credibility of
the Michelin Guide.
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