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

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MNG3702 Assignment 1 Semester 2 2024 (605474) - DUE 25 July 2024 QUESTIONS WITH DETAILED ANSWERS

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




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




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 address this question, we need to explain each stage in the strategic management

process and apply it to the Michelin company, particularly focusing on the history and

development of the Michelin Guide. The strategic management process typically

includes the following stages: environmental scanning, strategy formulation, strategy

implementation, and strategy evaluation.

1. Environmental Scanning

Explanation: Environmental scanning involves the collection and analysis of

information about events and trends in the external environment that could impact the

organization. This helps the organization identify opportunities and threats.

Application to Michelin: When Michelin first introduced the Michelin Guide in 1900,

the primary purpose was to encourage more driving, which would, in turn, increase the

, demand for tires. The company conducted environmental scanning by observing the

market trends and the needs of their customers. They recognized that one of the

obstacles to increased car usage was the lack of reliable information about where to

find fuel, food, and accommodations. By providing this information, they could promote

more road travel, thereby boosting tire sales. This insight allowed Michelin to identify a

unique opportunity to connect their product (tires) with a service (the guide) that

addressed a specific need in the market.

2. Strategy Formulation

Explanation: Strategy formulation involves developing long-term plans to leverage

strengths, address weaknesses, capitalize on opportunities, and mitigate threats. It

involves setting objectives, determining the best course of action to achieve those

objectives, and allocating resources accordingly.

Application to Michelin: Michelin formulated a strategy to create the Michelin Guide as

a free publication to drivers. The strategy was to provide value-added services that

would encourage car travel. The guide included maps, instructions for changing tires,

and lists of hotels, restaurants, and petrol stations. Over time, Michelin refined this

strategy by focusing more on restaurant reviews, which significantly increased the

guide's prestige and utility. This strategic move allowed Michelin to position itself not just

as a tire manufacturer but as a trusted source of valuable information, thereby creating

a strong brand association and customer loyalty.

3. Strategy Implementation

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