MGT403 Strategic Management

MGT403 Strategic Management

Question

Answered

Questions:

A-    Assume that you operate a small business painting houses in your town or city of residence. You have a small painting crew that includes yourself. 
B-    Tips: First, read all of the questions before you begin to answer any of them. Second, apply concepts and theories from class as specifically as you can. Third, pay attention to how many points each question is worth and allocate your time accordingly
Note: Please answer the following carefully, with good explanation. The more technical you explain the more chances are that your application would be accepted. Good lock 
 
1-    What is the name of your business? 5 points
2-    What are the mission, vision, and values of your business? 15 points
3-    What is your company’s business strategy, and where would you locate it in a diagram of the strategic productivity frontier? 15 points
4-    Who are all the primary and secondary stakeholder groups for your business? Which ones are most important to you? Is it possible for you to create value for all of your primary stakeholders? 15 points
5-    Imagine that the prices you and your competitors could charge went up 25% due to high demand, and your costs did not change. How would you handle this situation, and what would you do with any extra profits you earned? (Make whatever reasonable assumptions you want about considerations not mentioned in the prompt.) 15 points
6-    What are the most important measures you would apply in assessing your business’s performance? 15 points
7-    Give an example of how you could use a planned emergence approach to strategic decision-making to benefit your business. 10 points
8-    Do you think an episode of creative destruction could happen in your industry? Please explain your answer.  10 points.