Strategic Management

Strategic Management Order Description STRATEGIC MANAGEMENT Assessment what we are looking at Coursework Guideline - Application and Analysis - We don’t want description of models - We don’t want critique of models BRITISH PETROLEUM is a global company , therefore look at -for market (i.e. customers) choose a region - for resources analysis , you may need to go more global Therefore , in pestle , you will have a mix of regional and global issues relevant to aspects of the market and internal resources That STUDENT should show how they have scoped the analysis of the organisation Instructions 1: abstract ( Executive Summary) 2: Table of content 3: mini Introduction 4: Literature review 5: Description method used: secondary data 6: Main Body of the Report student must USED 8 models for the application and analysis of BRITISH PETROLEUM ENVIRONMENTAL ANALYSIS : PRACTICAL TIPS 1: PESTLE: make sure it is macro and external, Internal Resources and SWOT . AND make sure the technological factors are external 2: PORTER’S FIVE FORCES: application and analysis , don’t just describe who competitors are 3: STAKEHOLDERS ANALYSIS: application and analysis 4: INDUSTRY LIFE CYCLE: tell us more about the nature of industry forces ,its life cycle of industry not company , how might pestle issues affect life cycle ? provide justification? 5: STRATEGIC GROUP ANALYSIS: COMPARISON to other organisation, talk where potential gaps , need to look at the mobility between groups, you decide variables for axis , remember size is denoted by size of circle(look for data), quality and price are usually too closely correlated and provide data to back it up RESOURCES ANALYSIS: PRACTICAL TIPS 6: VALUE CHAIN: How does BP add value to the input in a way that fulfils the critical success factors in the market?, consider main competitors note : common mistake don’t just describe the activities but look for evidence of problems or success 7: VRIS/VRIN/VRIO(or RESOURCE COMP MATRIX): Look at the value chain and make a judgement on where competitive advantage lies, choose key resources /competences, remember that core resources and competences can come from relatively abstract phenomena such as path dependency; relationships, tacit knowledge and causal ambiguity. COMING UP WITH STRATEGIC CHOICES 8: TOWS and Ansoff: don’t have to fill in every box, make sure they have some connection to the strategic analysis, some options might appear to be linked. A new idea might pop up here- therefore, go back to the strategic analysis so that you can retrospectively justify, however- judgement is required EVALUATION OF STRATEGIC CHOICES (OPTIONS) - Suitability: is there an opportunity to be exploited and/or a threat to be overcome? (TOWS should address this) -Acceptability: do a stakeholders analysis here -Feasibility: Are there resources in place? Is there recommendation likely to make money? - Various ways of growing a firm: internal (organic) development, mergers and acquisitions, strategic alliances. RECOMMENDATIONS : Method of growth : various ways of growing a firm -internal (organic ) development - Merger and acquisitions - Strategic Alliances YOU need only mention this briefly as part of the recommendation and choose best three out of the 8 models 9: REFERENCES Note: sketch all the 8 models diagram in the appendices 10: APPENDICES : should carry all the 8 models diagrams and linked to main body to illustrate 1: PESTLE diagram of BP 2: PORTER’S FIVE FORCES diagram of BP 3; STAKEHOLDERS ANALYSIS Diagram of BP 4: INDUSTRY LIFE CYCLE diagram of BP 5: STRATEGIC GROUP ANALYSIS diagram of BP 6: VALUE CHAIN Diagram of BP 7: VRIS/VRIN/VRIO (or comp matrix) Diagram of BP 8: ANSOFF dIagram of BP 9: TOWS diagram of BP