Compare and contrast three growth strategies.
Key Fundamentals: Note five key fundamentals that must be in play before beginning a significant strategy of growth and wealth building.© BrainMass Inc. brainmass.com October 25, 2018, 6:42 am ad1c9bdddf
Five key fundamentals that must be in play before beginning a significant strategy of growth and wealth building include five different areas with the strategic plans, which are financial, staffing, production processes, quality, and human resource areas. The most important fundamental from the five key areas is the financial aspect. A company must undertake many actions prior to the growth strategy, including "building strong banking relationships and letting bankers know your future goals so they can work with you to get you there" (Dun & Bradstreet, 2012). It is imperative that the company has well-defined financial plans that have gone through strategic analysis and preparation in order for any business growth strategy to be successful.
The staffing must also be adequate to the level of being able to support the strategy. If staffing is not currently adequate, proper resources must be in-place that can be immediately utilized once the company does expand. A company's staff is the fundamental building block of all successful organizations, regardless of industry. The production process and quality go hand-in-hand. Processes ...
The solution compares and contrasts three growth strategies and notes five key fundamentals that must be in play before beginning a significant strategy of growth and wealth building.
Global stragetic management
8 to 10 Pages
Details: Research the site of Bank of America (http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-govhighlights).
Using your readings, the Library, and the Internet, and any additional resources necessary, you are being asked to complete the following sections of a Strategic Audit (See examples starting on page 78 and pages 179-185 following appendix 11.C):
Analysis of Strategic Factors. Since you are aware that your analysis of strategic factors or SFAS (Strategic Factor Analysis Summary) is based on IFAS and EFAS tables, and since we will need to understand your choices, you are required to submit the three tables in Excel format in one separate file from your written Word assignment. No submission of an Excel file or submission of a table in a Word file will cause you to lose half of the points of this assignment. No comments are needed on the IFAS and the EFAS tables, but comments are needed on the SFAS table, which is the foundation for this assignment (You will submit one Excel file that will include three separate sheets, one for the IFAS, one for the EFAS and one for the SFAS). As a reminder, two files are to be submitted: One Excel file (counting for three pages) and one Word file (five to seven pages double-spaced). You will be graded on your knowledge of the software and math in building the MS Excel tables, and on your ability to communicate in writing and present your arguments.
Strategic Alternatives and Recommended Strategy Here you will be graded on your ability to analyze economic, socio-cultural, political-legal, technological, and financial data to justify your available strategies and the one(s) you recommend.
Implementation: Describe the implementation of the strategy(ies) you recommended.
Evaluation and Control How do you evaluate the performance of your implemented strategy(ies)? For a sample outline of a Strategic Audit, review examples starting on page 78 and appendix 11.C.
Please submit your assignment.
Points Possible: 200
Date Due: Sunday, Sep 20, 2009
Objective: Explain the strategic management process within the global environment.
Conduct various environmental analyses as they relate to an organization.
Formulate strategies and potential strategic alternatives for different situations.
Use effective communication techniques.