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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024

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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us . Question 1 “The aim of strategic management is to ensure that an organisat...

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MNG3702
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations

Unique number: 605474

Due Date: 25 July 2024
QUESTION 1

Strategic management is a continuous process that ensures an organization achieves and
sustains competitive advantage. The process perspective of strategic management is
traditionally broken down into three key stages: strategic planning, strategy implementation, and
strategy review and control. In the context of Michelin and the development of the Michelin
Guide, each of these stages can be examined to understand how the company has managed
to maintain its competitive advantage over time.



Strategic Planning

The strategic planning stage is the initial phase of the strategic management process, where
the organization determines its strategic direction. For Michelin, this began in 1888 when the
company was founded by the Michelin brothers, André and Édouard. They identified a
burgeoning market for automobiles and the need for high-quality tires. Recognizing the potential
for growth in the automotive industry, they decided to create products that would cater to this
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