Exam (elaborations)
MNG3702 Assignment 1 2024| Due 25 July 2024
- Institution
- University Of South Africa (Unisa)
MNG3702 Assignment 1 2024
[Show more]
Content preview
MNG3702ASSIGNMENT 1 2024
DUE: 25 JULY 2024
SEMESTER 2 2024
, QUESTIONS
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.
Process Perspective of Strategic Management: Application to Michelin and the
Development of the Michelin Guide
Strategic management from a process perspective includes three key stages: strategic
planning, strategy implementation, and strategic control. Applying these stages to Michelin
and the development of the Michelin Guide highlights how the company strategically
managed this initiative to sustain its competitive advantage.
1. Strategic Planning
Strategic planning involves a thorough environmental analysis and the development of
strategies that align with the company's long-term objectives.
Application to Michelin:
In the early 1900s, the Michelin brothers identified an emerging trend in mobility and car
travel. Recognizing the potential for increased tire sales, they strategically planned to
encourage more road travel. This led to the conceptualization of the Michelin Guide. The
guide aimed to provide useful information for motorists, such as listings of hotels,
restaurants, and gas stations. This strategic planning phase involved understanding the
external environment (the growing popularity of automobiles) and aligning it with their
internal objective (boosting tire sales).
2. Strategy Implementation
Strategy implementation is the action phase where the developed strategies are put into
practice by the organization.
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MiMemo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now