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
100% GURANTEE
, 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)
Strategic management is the process by which an organization defines its strategy, makes
decisions on allocating its resources to pursue this strategy, and ensures the long-term
sustainability of its competitive advantage. The process perspective of strategic management
typically involves three stages: analysis, formulation, and implementation. Below is an
application of each stage to the Michelin company and the development of the Michelin Guide as
a strategic effort to sustain its competitive advantage.
1. Analysis
Stage Explanation: The analysis stage involves understanding the internal and external
environments in which the organization operates. This includes a thorough analysis of the
company's strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as a
detailed understanding of the competitive landscape and market conditions.
Application to Michelin: In the late 19th and early 20th centuries, Michelin was primarily a tire
manufacturing company. The company identified a significant opportunity in the burgeoning
automobile industry. Recognizing that increased automobile usage would lead to higher tire
sales, Michelin needed to find ways to encourage more people to travel by car.
To achieve this, Michelin conducted an analysis of the travel and tourism industry, identifying a
lack of reliable information for motorists about where to find services like fuel, accommodations,
and food. This gap in the market presented an opportunity for Michelin to create a resource that
would encourage more road travel, thereby indirectly boosting tire sales.
2. Formulation
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