Essay
Critically discuss one of the following statements about Strategy.
- ‘The Five Forces Framework is the most well-known tool for industry analysis, but it has to be used carefully’ (Johnson et al, 2019: 75).
- ‘There are two main approaches to strategic management development: the prescriptive approach and the emergent Each compliments the other, and both are relevant to the strategy process’ (Lynch, 2018: 23).
- ‘Often firms are “caught in the middle” because they do not differentiate effectively or provide the lowest-cost goods’ (Hitt, Ireland and Huskisson, 2016: 131).
- ‘The organization’s only social responsibility is to increase its profit’ (Friedman, 1979, in Thompson, Scott and Martin, 2014: 76).
Learning Outcomes
This section is for information only.
The assessment task outlined above has been designed to address specific validated learning outcomes for this module. It is useful to keep in mind that these are the things you need to show in this piece of work. On completion of this module, students will need to demonstrate:
- Understand the concept of strategy and the role of Strategic Management in the global Service Industry.
- understand the influence of the economic, social, technological and legal factors on the company’s operating environment.
- understand traditional and contemporary approaches to strategic analysis, choice and implementation/evaluation.
- critically analyze the competitive environment of any given organization
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