Week 1 Assignment: Strategic Approaches & Value Strategies

Objective: To determine which strategic approach an organization is implementing and to identify the value of an organization's strategy by determining the strength of its business model.

Format:

• Acceptable formats include: Word, Excel, PPT, & Prezi (or other Microsoft compatible programs)
• Responses must indicate that you have a clear understanding of the concepts
• Responses should show a logical thought process and should answer all aspects of the questions
• Cite your resources!!!! This includes in-text citation & works cited.

Grading: Scores will be based on clarity and completeness of the information you provide

This assignment has 3 parts.

Part I

"Five of the Most Frequently Used and Dependable Strategic Approaches to Setting a Company Apart from Rivals"

1. Low-Cost Provider Strategy

2. Broad Differentiation Strategy

3. Focused Low-Cost Strategy

4. Focused Differentiation Strategy

5. Best-Cost Provider Strategy

(Thompson, Peteraf, Gamble, Strickland III, 2018)

Task:Determine which strategic approach is being implemented by the following organizations. Provide 3 examples for each organization that shows how they exhibit this strategy.

Organization	Strategic Approach	Examples
Kirkland (Costco's Private Label)		1. 2. 3.
Marshall's		1. 2. 3.
IKEA		1. 2. 3.
Trader Joe's		1. 2. 3.
Starbucks		1. 2. 3.

Part II

Task:The brands in Part I represent retail organizations, but each offers a different type of retail experience. Consider the information you read in chapter 1 about business model sustainability, then answer the questions below.

Given the current status of the retail industry, which of these brands do you think will survive through the next 10 years? Why or Why not?

Organization	10 Yrs Y or N	Why or Why Not?
Kirkland (Costco's Private Label)
Marshall's
IKEA
Trader Joe's
Starbucks

Part III

For the brands that you think will still be around in 10 years, how do you think the business model will change in that time? Only provide information for the ones you marked Y (Yes) for in the chart in Part II.

Organization	Adapted Business Model
Kirkland (Costco's Private Label)
Marshall's
IKEA
Trader Joe's
Starbucks