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Kingdom of Saudi Arabia Ministry of Education Saudi Electronic University المملكة العربية السعودية وزارة التعليم الجامعة السعودية اإللكترونية College of Administrative and Financial Sciences Assignment 1 Strategic Management (MGT 401) Deadline: 23/10/2021 @ 23:59 Course Name: Strategic Management Student’s Name: Course Code: MGT401 Student’s ID Number: Semester: First CRN: Academic Year:2021-22 For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of 5 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • • • • • • • • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted through email will not be accepted. Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. Students must mention question number clearly in their answer. Late submission will NOT be accepted. Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). Submissions without this cover page will NOT be accepted. Assignment No 1: Discussion Questions Learning Outcomes: 1. Understand the basic concepts and terminology used in Strategic Management. (Lo 1) 2. Understand the Corporation Social Responsibility (Lo 2). 3. Explain how executive leadership is an important part of strategic management (Lo 3) ✓ Question 1 Discuss the influence of globalization, social responsibility and environmental sustainability on strategic management of a corporation. (2 Marks) ✓ Question 2 In what ways can a corporation’s structure and culture be internal strengths or weaknesses? (1Mark) ✓ Question 3 Discuss how executive leadership is an important part of a strategic management? Give examples from real market. (2 Marks) Notes: – Using the terminology developed in the course of strategic Management will be highly valued. Your answers MUST include at least 4 outside references (other than the slides and textbook) using a proper referencing style (APA). Using references from SDL will be highly valued. Good Luck Answers Maximum number of words: 1500 PART 1 Introduction to Strategic Management and Business Policy CHAPTER 1 basic concepts of Strategic Management Environmental Scanning: Strategy Formulation: Strategy Implementation: Evaluation and Control: Gathering Information Developing Long-range Plans Putting Strategy into Action Monitoring Performance External Natural Environment: Resources and climate Societal Environment: Mission Reason R eason ffor or existence Objectives Wh t What l to results h accomplish by when General forces Task Environment: Industry analysis Internal Strategies Pl to Plan hi he achieve the mission & objectives Policies B roadd Broad id li guidelines for decision making Programs and Tactics Activities Actiiviities i needed d d to accomplishh a plan Budgets Cost Cost off the thhe programs Procedures Sequence Sequence off steps needed to do the job Structure: Chain of command Culture: Performance Actual results Beliefs, expectations, values Resources: Assets, skills, competencies, knowledge Feedback/Learning: Make corrections as needed MyManagementLab® Improve Your Grade! Over 10 million students improved their results using the Pearson MyLabs.Visit mymanagementlab.com for simulations, tutorials, and end-of-chapter problems. 22 Learning Objectives After reading this chapter, you should be able to: ■ ■ ■ Understand the benefits of strategic management Explain how globalization and environmental sustainability influence strategic management Understand the basic model of strategic management and its components ■ ■ ■ Identify some common triggering events that act as stimuli for strategic change Understand strategic decision-making modes Use the strategic audit as a method of analyzing corporate functions and activities Ford—A Study in Strategic Planning The 21st-century story of the power of strategic planning and implementation for Ford Motor Company really starts in January 2006. Ford announced a US$1.6 billion loss in North American operations and a continuing loss of market share. Then CEO and grandson of the founder, William Clay (Bill) Ford announced the “Way Forward”—a surprisingly clear strategy document to lead the company back to profitability by 2008 and reduce costs by over US$6 billion by 2010. The entire document was only 16 pages long and clearly laid out the way that Ford was going to change the direction of the company. This was a corporate-level change document in the classic planning mode of strategy. For the next nine months, the company attempted to implement the plan, and the result by the third quarter of 2006 was a staggering US$5.6 billion loss that would end up being a loss of over US$12 billion before the year was out. Bill Ford and the Board of Directors realized that they needed a CEO who could really implement the plan. Someone with an operations approach and the willingness to make the tough decisions required by that plan. They tapped Alan Mulally, the President and CEO of Boeing’s Commercial Airlines unit. He stated that “These business results are clearly unacceptable. We are committed to dealing decisively with the fundamental business reality that customer demand is shifting to smaller, more efficient vehicles.” Mulally immediately eliminated the Ford dividend which had been a staple of the blue chip company for decades. He sold off Volvo, Aston-Martin, Jaguar, and Land Rover to other companies and sold most of Ford’s stock holdings in Mazda. He shut down the historic Mercury line of vehicles and focused all of the company’s energy on two vehicle lines: Ford and Lincoln. In what now looks even more brilliant than it did at the time, he secured US$23.6 billion in lines of credit to help the company through the change. It turned out to be prescient. When the other American automobile companies saw their sales plummet in 2009, Ford was able to thrive. In fact, Ford was the only American auto 23 24 PAR T 1 Introduction to Strategic Management and Business Policy company that didn’t require a government bailout. If not for the bailout moneys from the U.S. government, Ford may well have become the only American automaker that remained. The results speak for themselves. In early 2012, Ford announced that for the calendar year of 2011 it earned US$20.2 billion in net income and US$8.8 billion in pre-tax profit, which was the third year in a row it reported an increase in annual profits. Ford has moved into the solid #2 spot for worldwide sales of vehicles and
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