MGT4070 Discussion

Week 2 Discussion For this assignment, make sure you post your initial response to the Discussion Area by the due date assigned, Saturday May 16, 2018, 11:59 pm, EST. To support your work, use your course and text readings and also use outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format. Strategic Management and Competitiveness In this assignment, you will decide on strategic management plans, a company’s strategic competitiveness, and the best model for above-average returns. In current market conditions, companies need to gain and then maintain a competitive edge over their competitors. They do this by employing a compelling and dynamic strategic management process to create a strategy that helps them achieve their goals before one of their competitors does. Select any two of the main questions and address all of their bullet points: Question 1: Discuss the following questions in relation to strategic management: • What factors make up this process? • How important is it to change, and what criteria determine the changes in a strategic management plan? Question 2: Discuss the following questions in relation to strategic competitiveness: • How would you describe the twenty-first century competitive landscape and the various challenges it brings to businesses? • Why will a traditional mindset not lead a company to strategic competitiveness and what values must managers adopt to overcome these challenges? Question 3: Discuss the following questions in relation to above-average returns: • What are the differences between industrial organization (I/O) and resource-based models of above-average returns? • Which is a more successful model? • Which model will you use to help shape your strategic management plan and why? Question 4: Applying your understanding of strategic management, answer the following questions: • How can business-level and corporate-level strategies be best used to gain a competitive advantage and earn above-average returns? Explain. • What are the advantages and disadvantages of competitive rivalry? • How can a company use competitive rivalry to its advantage? Provide examples. • Under what conditions would you choose a single or dominant business corporate-level strategy versus a more diversified strategy and why? Discuss.