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    BP Strategic Management

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    - In your own words, how would you distinguish between competitive advantage and strategic management as they relate to strategic planning? Which are you more interested in and why?
    - Create and post a mnemonic that will help you remember the five steps of the strategic planning process.
    - Select at least two components of the strategic planning process to examine more closely. What interests you about each? What challenges are associated with each component?

    - Identify at least two potential planning pitfalls and two potential cognitive biases facing the company. Explain how each could result in poor strategy.
    - Use your imagination to evaluate the current CEO according to the seven characteristics of good strategic leaders. How does he/she measure up?

    - In fewer than 25 words, explain what industry means to you in terms of competitive strategy.
    - Explain what went into your brief definition. What did you have to include, and what did you end up leaving out?
    - Of the three industry analysis models, which do you think has the most benefits and why? Which is the most limited and why?

    - Select three of the components of building and maintaining competitive advantage that you think are most important. Explain why these are the most significant.
    - In your opinion, which is more difficult and why: establishing initial competitive advantage or sustaining it over time?

    -Which functional-level strategies would you use to increase efficiency and reliability in your company, and why?
    - Which functional-level strategies would you use to increase excellence and innovation in your company, and why?
    - Which functional-level strategies would you use to increase responsiveness to customers in your company, and why?

    - What are some of the dangers of a company not defining its business in the context of competitive positioning? Explain.
    - Describe at least two strategies for guiding a company to define its business in a context of competitive advantage and the significance of doing so.

    -Name one strategy you would use to lead each of the following, providing reasoning for your selection: fragmented industries, embryonic industries, and growth industries.
    - In your opinion, is it more difficult to sustain strategies for a fragmented industry or an embryonic industry, and why?
    - In your opinion, is it more difficult to sustain strategies for a growth industry or an embryonic industry, and why?

    - Would you like to be in charge of strategic management for a first-mover company? Explain why or why not, using specific examples.
    - Assess two examples of technological paradigm shifts, explaining how each has already or could continue to affect enterprise strategy.

    - Which global marketplace entry modes would you be most and least likely to recommend to other strategists, and why?
    - In your opinion, what are the most significant pros and cons of making global strategic alliances?

    In the following discussion, consider which corporate-level strategies you would apply to the following situations and the rationale:

    - A toy company that is losing money because its goods are overpriced
    - A smartphone company that is struggling in a crowded industry
    - A clothing company that cannot afford to pay wages to U.S. workers

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    Solution Summary

    This solution helps in strategic planning, attached in Word.