Strategic Management Attributes
The four key attributes of Strategic Management are discussed in chapter one of your textbook. While one of the attributes might strike you as more important than another, all four are essential to create an environment where strategic planning can thrive.
Choose one of the attributes and give two examples of when this attribute is most visibly needed and how it is manifested. What words and actions on the part of upper management and executives demonstrate a command of this attribute? What effect does a focus on this attribute have on employees, customers, and other stakeholders?
In a second paragraph, explain how this attribute interacts with the other three. Give examples, preferably from your own work experience, but using current events or the work experience of someone you know is also valid.
Porter’s 5 Forces
Porter’s Five Forces model is used throughout many industries when assessing the external environment. The important thing to remember is that you are always looking at your own company as the central figure. So for example, when considering Supplier Power, you are considering the power of suppliers who sell to you. When you are considering Buyer Power, you consider the power of your customers, who buy from you.
Choose one of the following companies and write an industry competition analysis using the Porter’s Five Forces model:
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