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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
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, MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 22024 (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)
To apply the process perspective of strategic management to Michelin and the
development of the Michelin Guide, we will break down the stages and explain
how each stage contributed to sustaining Michelin's competitive advantage through
its guide:
1. Environmental Scanning
Explanation: Environmental scanning involves monitoring, evaluating, and
disseminating information from the external and internal environments to key
people within the organization.
Application to Michelin:
External Environment: Michelin recognized early on the potential of a
guide to promote its tires through promoting travel and dining, aligning with
its brand values of quality and exploration.
Internal Environment: Michelin leveraged its expertise in quality
assessment (originally focused on tires) to create a reliable restaurant guide,
using internal resources such as skilled inspectors.
2. Strategy Formulation
Explanation: Strategy formulation involves developing long-term goals and
objectives, selecting strategies, and creating policies to achieve them.
Application to Michelin:
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