INSTRUCTIONS
- Critically evaluate the concept of strategic planning and its use in business organisations.
Introduction to Strategic Planning – 30-40%
Strategic Management Process – It also presents a systematic approach of performing strategic planning in the organization through initial assessment of the external and internal environment, consideration of strategic intent/Mission, Vision, Values, formulation of strategy, implementation of strategy and strategy evaluation.
Major Components of the strategic planning process
Pros and cons 🡪 40-50%
Conclusion – 10%
Certainly some degree of success in doing strategic planning, amidst the caveats.
- How can value chain analysis help firms to achieve a competitive advantage?
Introduction to describe Value Chain Analysis (VCA) with illustrations – 30-40% – Can draw the diagram – briefly explain the various dimensions.
Briefly explain what is competitive advantage. 10%
Explain how does VCA lead to competitive advantage (>50%) – Choose VCA for Low cost strategy OR VCA for Differentiation
Conclude – 10%