Create a grand strategy matrix for an organization of your choice, write a summary of whether the organization’s strategies are aligned with the matrix, and make recommendations for changes to the organization’s strategy based on your observations. A grand strategy matrix can help you formulate your organization’s strategy. By successfully completing this assessment, you will … Continue reading “grand strategy matrix for an organization | My Assignment Tutor”
Create a grand strategy matrix for an organization of your choice, write a summary of whether the organization’s strategies are aligned with the matrix, and make recommendations for changes to the organization’s strategy based on your observations. A grand strategy matrix can help you formulate your organization’s strategy. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: • Competency 1: Evaluate key elements of the strategic planning process. o Analyze whether the selected organization has a weak or strong competitive position.o Identify whether an organization’s strategy is aligned with the relevant quadrant strategies. • Competency 3: Apply a sequential process for developing and implementing strategies, goals, objectives, and tactics as part of the strategic plan implementation. o Describe whether the market growth rate is rapid or slow. o Recommend changes based on final observations.___________________________________________________________________________________________ CONTEXT The goal of any strategic planning activity is to enhance organization performance. Through involvement in strategic planning, employees achieve a better understanding of the organization’s operation. The process allows for proactive decision-making. It is important to anticipate and respond to issues and to understand that sometimes a philosophical change will surface. There are twelve general strategies an organization might follow when implementing change. Adopting one or more of these strategies might mark a new beginning for an organization, especially if the employees understand and support the plan of action. The twelve strategies are: 1. Forward Integration: Increase control of distributors or retailers.2. Backward Integration: Increase control of firms’ suppliers.3. Horizontal Integration: Increase control of competitors.4. Market Penetration: Increase market share for current products in current markets.5. Market Development: Introduce current product in new geographic areas.6. Product Development: Increase sales through improved or new product.7. Concentric Diversification: Add new but related products.8. Conglomerate Diversification: Add new unrelated products.9. Horizontal Diversification: Add new, unrelated products for current customers.10. Retrenchment: Cost reduction to reverse declining profit and sales.11. Divestiture: Sale of part of the organization.12. Liquidation: Sale of the company’s assets.