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Business Planning

Please help me with the following three scenario's:

Scenario #1

Thinking Strategically

Identifying the factors that characterize a company's strategic situation is the basis for a strategy process. These factors can be classified as strengths, weaknesses, opportunities, and threats. Analyzing these factors using various tools enables a manager to formulate strategies more effectively. In the business world this will consist of using long-term objectives as a framework: the strengths, weaknesses, opportunities and threats of the company. In addition some will use a strategic analysis using a tool known as the Matched Pair Analysis to identify strategies that enable the company achieve its long-term objective.

a. What are two lessons learned relative to the importance and effectiveness of environmental scanning?
b. What concepts and analytic tools a business owner be able to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?

Scenario #2

Developing Grand Strategies

A Grand Strategy can be defined as a comprehensive general approach that guides a company's key actions. The Grand Strategy Clusters matrix is a 2 X 2 cluster of 15 Grand Strategies based on the growth rate of the general market and the company's competitive situation in that market.

a. What are two lessons learned relative to the importance and effectiveness of strategy formulation and choice?
b. What concepts and analytic tools would a business owner be able to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?

Scenario #3

Creating a Strategic Road Map

Creating a successful and powerful strategic road map that will lead an organization to its desired milestones is a process that combines insight with analysis, perception, and vision. A good strategy will take a company to its modest short-term goals, while a brilliant one would set the organization on a course designed to capture the future. Based on the long-term objective, many times a business defines the strategies and the corresponding goals that would enable the firm to achieve leadership status.

a. What are two lessons learned relative to the importance and effectiveness of the formulation of action plans and goals?
b. What concepts and analytic tools will a business owner be able to use in the development of his or her strategic plan?
c. What are two challenges facing strategic planners?

Solution Summary

Based on three scenarios and question posed for each, this solution discusses three broad topics of thinking strategically, developing grand strategies and creating a strategic road map.

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