Exam (elaborations)
MNG3702 ASSIGNMENT 1 SEMESTER 2 2024 (605474)
- Institution
- University Of South Africa
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MNG3702 Assignment 1Semester 2 2024 (605474) -
DUE 25 July 2024
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, MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024 ; 100% TRUSTED Complete,
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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)
Introduction
Strategic management is a continuous process that organizations use to ensure they achieve and
sustain competitive advantage. This process involves several stages, including goal setting,
analysis, strategy formulation, strategy implementation, and evaluation. The Michelin company,
known for its tire manufacturing, has leveraged the Michelin Guide to gain and sustain a
competitive edge. The development and evolution of the Michelin Guide can be analyzed using
the process perspective of strategic management.
Goal Setting
Explanation: The first stage in strategic management is setting clear, strategic goals. These
goals provide direction and set the foundation for all subsequent steps in the strategic
management process.
Application to Michelin: Michelin's initial goal with the Michelin Guide was to increase the
demand for automobiles and, consequently, tires. By encouraging travel and exploring new
places, Michelin aimed to boost the automobile market and its own tire sales.
Analysis
Explanation: The analysis stage involves assessing both the internal and external environments
of the organization. This includes evaluating strengths, weaknesses, opportunities, and threats
(SWOT analysis).
Application to Michelin: Michelin analyzed the market and identified a significant opportunity
in promoting road travel. The company understood that by providing a guide that highlighted
quality restaurants and travel destinations, they could indirectly stimulate the demand for tires.
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