Apply environmental, industry and firm analysis and formulation to developing your personal strategy for the next five (5) years ( pretend that you finished master degree in MBA already)
2.5 pages double space, APA format
***Outline:
I.Identify your long-term individual goal and your current status relative to achieving that goal.
II.Identify one (1) key environmental effect trend or pattern from 2015 to 2018 with the appropriate data and CAGR (Compound Average Grow Rate) and what the data means relative to your goal (DATA need to collect from Mergent Online or Passpord GMID)
III.Identify one (1) important force within the five forces model that will affect an industry you hope to compete within, what is the estimated strength of that force (high, medium, or low), and provide specific data to support you answer.
IV.Identify one (1) personal resource that will advantage for you in pursuit of the goal. You need to provide data to support the value, rarity, costly to imitation, and opportunities for you to leverage that resource.
Definition of Value, rarity, barrier to imitation:
Valuable:
resource adds value by enabling a firm to exploit opportunities or defend against threats. (ADD REVENUE) .
Rare:
Resources that can only be acquired by one or very few companies. (LARGE NUMBER OF STORES) 20% or less
Costly to Imitate:
A firm that has valuable, rare and costly to imitate resources can (but not necessarily will) achieve sustained competitive advantage.
•Historical conditions. Resources that were developed due to historical events or over a long period usually are costly to imitate.
•Causal ambiguity. Companies can’t identify the particular resources that are the cause of competitive advantage.
Cultural Complexity. The resources and capabilities that are based on company’s culture or interpersonal relationships.
V.Identify whether your strategy will depend on an inelastic market, what data leads you to that conclusion, and how that will affect you in the pursuit of your goal.
Definition
Inelastic: is being DIFFERENTIATION, bring more values drivers to firm by add unique futures that will increase the perceived value of goods and services in the minds of consumers so they are willing to pay a higher price
VI.Specify at least four (4) steps you need to take in the next one (1) year to begin to implement this strategy.
VII.Identify one (1) or more specific accomplishments the above will allow you to achieve five (5) years in the future, or by December 2024, and why these accomplishments are important to you.
VIII.Please include references (APA Style) to support citations in the paper.
***Note:
Please follow my professor’s writing guide i attached below. Write all very short sentences in active voice, no passive at all. No compound or complex sentence, no linking words only SVO (Subject – verb- objective).
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