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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
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MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (605474) - DUE 25 July 2024
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, MNG3702 Assignment 1 (COMPLETE ANSWERS) Semester 22024 (605474) - DUE 25 July 2024 ; 100% TRUSTED Complete,
trusted solutions and explanations.
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Question 1 “The aim of strategic management is to ensure that an
organisation achives a competitive advantage and sustains its competitive
advantage over competitors.” Apply the process perspective of strategic
management process to the Michelin company, focusing on the ‘History of the
Michelin Guide’. In your answer, you need to explain each stage in the
process perspective of strategic management and apply it to Michelin and the
development of the Michelin Guide as an effort of the company to sustain its
competitive advantage. (21 marks, of which 7 marks will be awarded to each
of the stages correctly explained and applied to the case)
The strategic management process consists of three main stages:
strategic analysis, strategy formulation, and strategy implementation.
Applying these stages to Michelin and the development of the Michelin
Guide will help illustrate how the company has achieved and sustained
its competitive advantage.
1. Strategic Analysis
Explanation: Strategic analysis involves understanding the internal and
external environments in which the organization operates. This includes
assessing the company's strengths, weaknesses, opportunities, and
threats (SWOT analysis) and analyzing industry conditions, market
trends, and competitor activities.
Application to Michelin: Michelin's strategic analysis would have
identified several key factors:
Strengths: Michelin's strong brand reputation, technical expertise
in tire manufacturing, and a tradition of innovation.
Weaknesses: Potential over-reliance on tire sales, market
volatility, and increasing competition.
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