HAS 320-1401B-02

Phase 3 DB

Strategic Management

Organizations need to make decisions on developing goals and plans to ensure their continuing survival, but may not exactly where to start. Strategic management gives organizations the tools for a starting point. Strategic management is “the set of decisions and actions that result in the formulation and implementation of plans designed to achieve an organization’s objectives” CITATION McGnd l 1033 (McGraw Hill, n. d).Strategic management gives organizations the ability to grow by focusing on goal setting and effective management. Strategic management contains four processes environmental scanning, strategy formulation. Strategy implementation, and control CITATION Hea12 l 1033 (Healey & Marhese, 2012).

Environmental scanning involves assessing the organization’s external and internal environments. Strategy formulation is self-explanatory. This is the process where the strategies go into action. Control, or strategy evaluation, is basically taking the results of the strategy implementation and analyzing them and determine if any fine tuning or adjustments need to be made CITATION Hea12 l 1033 (Healey & Marhese, 2012).

Strategy management involves both long- term and short- term activities and objectives. Organizations are developing short- term goals that will build into the long-term goals. Short- time activities should be prioritized, consistent, and measureable CITATION Cla14 l 1033 (Clark, 2014). Long- term objectives take longer to achieve than short- term activities. Long- term objectives coincide with the vision of the organization CITATION Bia14 l 1033 (Bianca, 2014). Basically the short- term and long- term objectives go hand in hand in the organizing the desire mission.

When organizations are created their hopes are to remain operating for a long time. Organizations need to adapt to changes that constantly occurring, Adapting to changes in society of the organization, environment. Adjustments will need to made to accommodate for these changes by tweaking certain aspects of the organization to make it more efficient and effective. Strategy management gives organizations the opportunity to develop and implement They way to develop and implement short- term and long term objectives that will ensure their success for the future.

References

BIBLIOGRAPHY l 1033 Bianca, A. (2014). Strategic Management With Long and Short Term Objectives. Retrieved from azcentral: http://yourbusiness.azcentral.com/strategic-management-long-short-term-objectives-25629.html

Bradley, J. (2014). Strategic Management With Long and Short Term Objectives. Retrieved from Hearst Newspapers: http://smallbusiness.chron.com/strategic-management-long-short-term-objectives-65334.html

Clark, W. (2014). Strategic Management Short Term Objectives. Retrieved from Demand Media: http://www.ehow.com/info_7974829_strategic-management-short-term-objectives.html

Healey, B., & Marhese, M. (2012). Foundations of Health Care Management Principles and Methods. San Francisco: Wiley.

McGraw Hill. (n. d). Overview of Strategic Management . Retrieved from http://highered.mcgraw-hill.com/sites/dl/free/0078137160/811504/Sample_Chapter.pdf

Instructions:

Review the attached case providing information about McDonald’s corporation.  The purpose of this case is to help students answer the question of whether McDonalds differentiation strategy is adequately supported by its value chain and other internal resources, McDonalds must assess the relationships between the elements in its value chain.

I am looking for how thorough you answered the questions, how well you presented your information and the effectiveness of your evaluation.

While there is no required word count, simply recalling text will not be sufficient.  To submit your answer, click the assignment title.  Please attach it via Microsoft Word, or provide a link to a Google Doc file.  To attach a file, under the submission box you will see the “attach file” section.  Browse your computer and select the saved file with your answers, and click submit.  If you have questions, please ask prior to the due date. 

Case Objective

To examine how a reevaluation of strategy involves assessment of internal activities and resources.
Case Question(s):

1.  Review  Chapter 3, Exhibit 3.1 to see the chart outlining primary and secondary value chain activities. Using the example chart below or similar, create an assessment of McDonald’s value chain.

Value chain activity:

How does McDonalds create value for the customer? What challenges does McDonalds have in its value chain?

Primary:

Inbound logistics (food & supply deliveries)

Operations (efficient processing of orders, quality control systems)

Outbound logistics (distribution to customers)

Marketing and Sales (motivated employees, innovative advertising & promotion)

Service (ability to solicit  feedback & respond to customer issues)

Secondary (or support):

Procurement (relationships with suppliers for procurement of raw materials and supplies)

Technology development (state of the art equipment & software)

Human resource management (effective recruitment, incentive & retention mechanisms)

General Administration (effective planning systems to establish goals, access to operating capital, effective top mgmt communication, relationships with diverse stakeholders)

2.  To further answer the question of how to support a competitive strategy, its important to consider the concept of the resource-based view of the firm, and the three key types of resources: tangible resources, intangible resources, and organizational capabilities. Determining whether the internal resources are valuable, rare, difficult to imitate, or difficult to substitute (VRIN) can help a firm sustain a competitive advantage. See Chapter 3, Exhibit 3.6.

In this section, outline the three key types of resources McDonald’s displays.  Using the key questions and implications outlined in Exhibit 3.6 of the text, apply the VRIN analysis to your discovery of their resources.  Report them here. 

3.  In 2017 Easterbrook talks about growth based on what customers want: value and speed but has also been forced to respond to quality and cleaning up the supply chain, i.e. cage-free eggs. He also notes that consumer economic confidence is what ultimately drives customer visits. Review the following video and answer the questions below:  https://www.youtube.com/watch?v=xfn-D654m7s

  What other strategies could McDonalds formulate to achieve a competitive advantage?
McDonalds Strategic Management Adapted Case.pdf

 

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