Exam (elaborations)
MNG3701 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 (620712) - DUE 16 September 2024
- Course
- Strategic Planning IIIA
- Institution
- University Of South Africa
100% TRUSTED WORKINGS, EXPLANATIONS & SOLUTIONS
[Show more]
Content preview
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. b)
Use the information in the case-study to Identify two
strengths and two weaknesses. 10 MNG3701/101/3/2024
27
To address your questions:
1. Importance of Analyzing the Micro-Environment
Analyzing the micro-environment is crucial for understanding the immediate factors that affect a
business or organization. The micro-environment includes elements that are directly related to
the company's operations and performance, such as customers, suppliers, competitors, and other
stakeholders. Understanding these factors helps businesses:
Identify Opportunities and Threats: By analyzing the micro-environment, businesses
can uncover opportunities for growth or potential threats that need to be mitigated.
Enhance Competitive Advantage: It helps businesses understand their competitive
position and develop strategies to gain an edge over competitors.
Improve Decision-Making: Insight into micro-environmental factors supports better
strategic decisions and operational adjustments.
2. Approaches to Analyze the Micro-Environment
Here are three common approaches to analyzing the micro-environment:
1. SWOT Analysis:
o Strengths: Internal attributes that are helpful to achieving the objective.
o Weaknesses: Internal attributes that are harmful to achieving the objective.
o Opportunities: External factors that the organization could exploit to its
advantage.
o Threats: External factors that could cause trouble for the organization.
2. Porter's Five Forces:
o Competitive Rivalry: Analyzes the level of competition among existing firms.
o Threat of New Entrants: Assesses how easy or difficult it is for new competitors
to enter the market.
o Bargaining Power of Suppliers: Examines how much power suppliers have over
the industry.
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 examexpert01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R48,59. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50843 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now