Exam (elaborations)
MNG3701 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 (620712) - DUE 16 September 2024
- Course
- Strategic Planning IIIA
- Institution
- University Of South Africa
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MNG3701 Assignment 2(COMPLETE ANSWERS)
Semester 2 2024 (620712) -
DUE 16 September 2024
100% GUARANTEED
, MNG3701 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2024 (620712) - DUE 16 September 2024
Questions 1 a) Explain the importance of analysing the
micro-environment. Briefly explain any three approaches
that can be used to analyse the micro-environment.
Certainly! Analyzing the microenvironment is crucial for businesses because it provides
insights into the immediate factors that directly impact their operations. Here are three
approaches to analyze the micro-environment:
1. Industry Analysis:
o Focuses on the specific industry in which a firm operates.
o Considers competitive strategies, industry characteristics, and the
influence of other firms.
o Helps identify opportunities and threats within the industry.
2. Upstream and Downstream Markets:
o Examines the industries that provide raw materials (upstream) and those
that consume the firm’s outputs (downstream).
o For example, oil production (upstream) influences oil refining
(downstream), which in turn affects gasoline sales.
o Understanding these relationships impacts costs, quality, and overall
success.
3. Porter’s Five Forces:
o Developed by Michael Porter, this model assesses industry attractiveness.
o Factors include:
Barriers to entry and new entry threats.
Buyer and supplier bargaining power.
Threat from substitutes.
Intensity of rivalry among competitors.
o Helps firms understand their competitive position within the industry12.
Remember, analyzing the micro-environment provides a clear view of the road ahead,
allowing businesses to make informed decisions and manage risks effectively.
b) Use the information in the case-study to Identify two
strengths and two weaknesses. 10 MNG3701/101/3/2024
27 2 Strategic leaders can analyse a particular competitor
in the industry in detail by applying the four-corner
analysis to predict what a particular competitor will do in
the future. a) Briefly explain ‘the four-corner analysis’
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