What are the common steps that are used by most managers to organize strategic planning?

Research states, Planning is a comprehensive process that determines how the firm can best achieve its goals(Daniels et al., 2018). Managers commonly follow a series of steps to organize strategic planning. They begin by identifying potential product markets and assessing opportunities and threats. Next, they evaluate customer preferences and align the company's offerings accordingly. Managers then analyze internal strengths and weaknesses, formulating a strategy based on these assessments. Clear objectives are set, providing a roadmap for decision-making. Specific programs, policies, and tactics are formalized to support strategy implementation. Managers ensure the acquisition of resources, creation of capabilities, and development of competencies necessary for effective execution. Performance is monitored, and adjustments are made as needed to remain competitive in the global business environment.

Define value chain and discuss how companies can design and manage their value chain to create values for their companies

Research states, A value-chain analysis aims to increase production efficiency so that a company can deliver maximum value for the least possible cost (Tardi, 2023). The value chain consists of the entire process of creating and delivering customer value. It includes primary and support activities. Companies can design and manage their value chain by analyzing and improving processes, vertical integration, outsourcing and partnerships, technology and innovation, and customer-centricity. Amazon is an excellent example of successful value chain management. They have a streamlined supply chain, advanced logistics systems, and leverage technology to provide their customers with personalized recommendations, convenient purchasing, and reliable delivery services.

Define value proposition and discuss how a companys value proposition can add international expansion. Support your answer with a real-life example.

A company's value proposition refers to the unique benefits and values it promises to deliver to customers, setting it apart from competitors. In international expansion, a strong value proposition is crucial in attracting customers and succeeding in foreign markets. It can contribute to an international expansion like market differentiation by standing out from local competitors, adapting to local needs by tailoring the value proposition to resonate with the target market, gaining a competitive advantage by offering a superior value proposition and leveraging a well-established brand reputation to build trust and credibility. Airbnb is an example of a company that has successfully expanded internationally by offering a value proposition of unique and affordable accommodations, adapting to local preferences, gaining a competitive advantage, and leveraging its brand reputation to deliver on its promises.

QUESTION1: Respond to at least two of your classmates by commenting on their posts with constructive comments that move the conversation forward. Though two replies are the basic expectation for class discussions, for deeper engagement and learning you are encouraged to provide responses to additional students and to respond to any comments or questions from other students. In addition, responding to the instructors questions or comments is mandatory. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.