4 BU470 Strategic Management Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A The questions in Part A refer to the material discussed in Lesson 1 of this course. Respond to the following. 1. Describe the strategic management process. What does it mean to manage strategically? 2. What are the three types of organizational strategies and how are they different? 3. The Sarbanes-Oxley Act of 2002 (SOX) has had a significant impact on strategic management practices and strategies. Discuss how the Sarbanes-Oxley Act of 2002 reformed corporate governance. Part B The questions in Part B refer to the material discussed in Lesson 2 of this course. Respond to the following. 1 Compare and contrast the industrial organization (I/O) and resource-based views (RBV) on competitive advantage. a How does each develop a competitive advantage? b What is their focus? c What are their determinants of profitability? 2 What makes organizational resource-based views unique? Part C The questions in Part C refer to the material discussed in Lesson 3 of this course. In Lesson 2 you discussed the industrial organization (I/O) and resource-based views (RBV) on competitive advantage. You now know that competition and competencies are both major organizational concerns. In Lesson 3 we take a closer look at how to conduct an external analysis of an organization's specific and general environments. To demonstrate your understanding of external analysis, respond to the following. 1 2 3 Analyze the two perspectives on the environment. Explain the primary responsibility of managers in conducting external analysis across managerial levels. Describe the benefits of conducting an external analysis. Part D The questions in Part D refer to the material discussed in Lesson 4 of this course. As you learned in Lesson 3, performing an external analysis can provide information to be used in planning, decision making, and strategy formulation. Organizations that conduct external analysis are most successfully when they combine this knowledge with a solid understanding of their internal strengths and weaknesses. To demonstrate your understanding of internal analysis, respond to the following. 1 2 3 4 Define and present the characteristics of distinctive organizational capabilities. Outline the steps in the identification of distinctive organizational capabilities. Describe the criteria involved in judging organizational strengths and weaknesses. Discuss the internal audit approach and why it is important. Grading Rubric Please refer to the rubric on the next page for the grading criteria for this assignment. ASSIGNMENT 8 BU470 Strategic Management Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A The questions in Part A refer to the material discussed in Lesson 5 of this course. As you learned in Lesson 1, managing strategically involves formulating strategic responses and putting them into action. In Lesson 2 you learned about functional strategies (also called operational strategies), competitive strategies (also called business unit strategies), and corporate strategies. Let's now discuss implementing strong competitive and functional strategies to exploit resources, capabilities, and core competencies. Respond to the following: 1 2 3 What functional strategies does an organization need? What might provide the basis upon which an organization decides on a competitive strategy? Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true? Part B The questions in Part B refer to the material discussed in Lesson 6 of this course. In Lesson 5 you learned about functional and competitive strategies, including how implement these strategies to exploit resources, capabilities, and core competencies. It is now time to delve more deeply into corporate strategy, with special attention paid to growth strategies. Respond to the following: 1 Indicate how corporate strategy is related to the other organizational strategies and describe each of the three (3) corporate strategic directions. 2 Access the following article using ProQuest, the Ashworth College online library: Anonymous (24 July 2012). Campbell Outlines Progress on Strategies, Sets Stage for Long-Term Growth. Business Wire [New York], n.p. NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read. Respond to the following. 3 What are some of the growth strategies Campbell's will implement? Provide two (2) other suggestions for growth strategies that Campbell's might utilize. Part C The questions in Part C refer to the material discussed in Lesson 7 of this course. Again access the following article using ProQuest, the Ashworth College online library: Anonymous (24 July 2012). Campbell Outlines Progress on Strategies, Sets Stage for Long-Term Growth. Business Wire [New York], n.p. NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read. Also visit the Campbell's \"Worldwide\" section of their website, located here: http://www.campbellsoupcompany.com/around_the_world.asp In Lesson 6 you learned about growth strategies. One of Campbell's growth strategies is to expand its international presence, particularly in emerging markets. Think about this in relation to what you have learned about international strategies. Respond to the following: 1 2 What are the potential advantages and disadvantages of Campbell's intended expansion in emerging markets? Do you believe Campbell's is using a multicountry strategic approach or a global strategic approach? Fully explain your reasoning. Part D The questions in Part D refer to the material discussed in Lesson 8 of this course. To round-out your understanding of the strategic management process, this lesson applied the concepts to entrepreneurial ventures and small businesses, as well as not-for-profit organizations. Demonstrate your knowledge of entrepreneurial ventures and small businesses by responding to the following: 1 2 3 4 Describe the characteristics of an entrepreneurial venture and a small business. Why are these types of organizations important? Describe the overall approach to the strategic planning process in entrepreneurial ventures and small businesses. Explain the advantages and disadvantages of strategic planning with entrepreneurial ventures and small businesses. Grading Rubric Please refer to the rubric on the next page for the grading criteria for this assignment. Format Requirements Use the following format requirements on all submissions. Writing Style APA (American Psychological Association) Note: To find detailed information on APA manuscript style guidelines on the Internet, go to www.apastyle.org. Margins 1\" all sides Paragraphs The entire document should be double-spaced on standard-sized paper (8.5" x 11") Headings Bold Type Style and Size Times New Roman, 12 point Software MS Word Student/Assignment Information The following information should be on the first page on the top left side of the page in the format provided below. Do not provide a cover sheet (unless the assignment requires one). Student Name Student Identification Number Course Number and Title Assignment Number and Title Date of Submission