Chapter 1 | Understanding Strategic Management CHAPTER DISCUSSION 1. Surf the Internet and select a company. Read its annual report and other related documents and answer the following questions: a. Does the company practice strategic management? Why or why not? b. How does the company give importance to strategic management? c. Who are involved in the practice of strategic management? d. What advantages did the business obtain in practicing strategic management? 2. Mini-Case. Read the mini-case of Equity Technologies Corporation and answer the discussion questions comprehensively. Equity Technologies Corporation Equity Technologies Corporation, a business that offers warehouse facilities and services for equipment, knows what it means to be prepared. Located in Mobile, Alabama, the company has long had plans and procedures in place to counter the threat posed by hurricanes and other severe weather. For instance, Equity Technologies promotes family and individual preparedness and has set up a means of communicating with employees when dangerous weather threatens. Employees carry laminated cards with contact information for supervisors and a voice recorded call-in number with updates about the company's status. But it was the risk of Y2K-related disturbances that motivated Equity Technologies to get serious about its disaster preparedness and business continuity plans. "We are a small company which does business around the world. To be competitive, my clients must feel confident that we are ready for everything," said Equity Technologies Corporation's President and CEO Cathy Anderson-Giles. "It wasn't hard to put together a plan, you just have to make it a priority." First, the company identified workers to serve as the contacts for the 72-employee operations. These key contacts, then, established safety and security teams which analyzed Equity Technologies Corporation's entire emergency process. The teams realized that communication between the company and the outside world was the single most important operational factor in an emergency. As a result, Equity Technologies purchased generators to power their phone system during utility outages and trained co-workers to set them up within seven minutes. Not only does the company have emergency plans and procedures in place, it has made a commitment to review the plans and tools each year at the start of the hurricane season. "We have the annual review on our corporate calendar," said Anderson-Giles. "Being prepared means being ready for any kind of emergency, be it hurricane, utility disruption, or manmade disaster." Source: 12+ case study examples. (n.d.). Retrieved from https://www.template.net/business/case- templates/case-study-exampleUnit 1 / Environmental Analysis Discussion Questions 1. Does Equity Technologies Corporation practice strategic management? Why or why not? 2. Why does Equity. Technologies Corporation give or not give importance to strategic management? 3. Do you agree with the steps taken by President and CEO Cathy Anderson-Giles to become competitive? Why or why not? 4. What other actions will you consider to provide future direction to Equity Technologies Corporation