People Management

1 MGMT3031 Business Strategy and Policy Graded Assignment #2 Answer all questions Q1. Mr. John Francois, the owner of John Francois Stores has been operating a successful business since 1977. However, he is not fully aware of what strategic management and planning entails. As a trust worthy employee, Mr. Francois has asked you to host a weekend retreat with him, his family members, and selected members of staff so that you can advise them about what strategic management and planning entails as well as how important it is for the organization to engage in strategic management and planning. What would you say to the members present at the retreat so that they can have a very good understanding of what strategic management and planning entails, and why they should engage in the process so as to maintain the competitive advantage of John Francois Stores? Q2(a). Based on the information provided in the Case Study, you are required to do the following: a. Identify by name, three (3) strategies that were utilized by John Francois Stores, and for each strategy identified, provide a brief explanation of what the strategy means. 2 b. Provide three (3) reasons for each of the strategies identified regarding why Mr. Francois and John Francois Stores were successful with those initiatives. Q2(b). Based on the existing environment and the situation at John Francois Stores, and as the Consultant hired by the Company: a. Suggest three (3) strategies by name that the Company could undertake to maintain a competitive advantage, and provide a brief explanation of what each strategy means. b. Also, provide three (3) reasons/justifications for each of the strategies that you selected. Q2(c). What is the output that results from Strategy Formulation? Q3(a). Indicate where do Resources come from? Identify three (3) types of resources that John Francois Stores possesses and provide a brief explanation for each type of resource identified as well as an example for each type of resource. 3 Q3(b). As an employee of John Francois Stores, how would you advise any of your colleagues if they were seeking employment at the organization based on best practices that can provide a competitive advantage through people management. Identify and discuss briefly six (6) best practices. Q3(c). On the assumption that Mr. Francois is thinking about starting a branch in some foreign country, he will need advice on the types of strategies that could be adopted. i. How would you advise Mr. Francois and his family about the best approaches to entering a foreign market considering the type of business that he is engaged in? Provide justification for your advice. ii. In addition, could you indicate to Mr. Francois and family about the types of experiences that they may encounter which may not be always positive. iii. Based on your response, would you advise Mr. Francois to enter a foreign market? Provide justification for your advice. 4 Q4(a). As an astute entrepreneur who believes in creativity and innovation, Mr. Francois is pondering about manufacturing something, but he has to think carefully about the product to be manufactured. Therefore, he needs to understand what the Value Chain is about as well as the types of strategies that he could utilize to gain a competitive advantage. a. What information would you provide to Mr. Francois and his family regarding the Value Chain as they think seriously about going into the manufacturing sector? b. Also, what are the possible strategies that could be utilized once the Manufacturing company becomes established? Identify the strategies by name, and provide a brief explanation for each type of strategy suggested. Provide justification for your advice with respect to each strategy. Q4(b). John Francois Stores has experienced success throughout its years of operations. However, there is no one at the organization at present who understands how the organization should be evaluated with the objective of taking corrective action, if required. You are given the opportunity to advise Mr. Francois, his family and senior staff regarding the process of strategy evaluation, how the objectives are evaluated as well as the challenges that may arise. You need to be clear in providing advice to members of the organization with respect to measuring its 5 performance. Therefore, what would say to Mr. Francois, his family and senior staff. Guidelines for Graded Assignment 2 Case Study Note that responses to the questions must be presented using sentences and paragraphs. The way that you language your responses is important towards gaining marks. Articulation of your responses will be considered. Numbering of Pages and Responses Times Roman 12-point font Double Line Spacing Cite your sources of data/information - References APA 7 th Edition - Correct formatting. Your References must reflect the use/inclusion of at least two (2) scholarly sources.