Strategic Management and Planning

1 MGMT3031 Business Stra tegy and Policy Graded Assignment #2 Answer all questions Q1. Mr. Jo hn Francois , the owner of Jo hn Francois Stores has been operating a successful business since 19 77 . However, he is not fully aware of what strategic managemen t and p lanning 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 a dvise them about what strategic management and planning entails as well a s how i mportant it is for th e organization to engage in strategic management and planning . What would you say t o the members present at the retreat so that they can have a very good understanding of what strategic management and planning entails , and why th ey should engage in t he process so as to maintain the competitive advantage of John Francois Stores ? (Total - 2 5 marks) Q2 (a) . Based on the information provided in the Case Study, you are required to do the following : a. Identif y by name, three (3) strate gies that were utilized by John Francois Stores , and f or each strategy identified, p ro vide a brief explanation of what the strategy means. (3 marks) 2 b. Provide three (3) reasons for each of the strategies identified regarding why Mr. F ranco is and J o hn Francois Stores were successful with those initiative s . ( 9 marks) Q2 (b) . Based on the ex isting environment and the situation at J o hn Francois Stores , and as the Consultant hired by the Company : a. S uggest three (3) strategies by nam e that t he Company could undert ake to maintain a com petitive advantage , and p ro vide a brief explanation of what each strategy means. (3 marks) b. A lso, p rovide three (3) reasons /justifications for each of the strategies that you selected . (9 ma rks) Q2 ( c ) . What is the output that results from Strategy Formulation? (1 mark) (Total - 2 5 marks) Q 3 ( a ) . Indicate where do R esou rces come from ? ( 1 mark ) Identify three (3) types of resources that John Francois Stores posses ses and pro vide a brief explan a tion for each type of resource identified as well as an example f or each type of resource. (3 marks) Q 3 (b) . As an employee of John Francois Stores, how would you advise any of 3 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. (6 marks) Q 3 ( c ) . On the ass umption that Mr. Francois is thinking about starting a branch in some foreign coun try , he will need ad vice on the types of strategies that could be adopted. i. H ow woul d 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. (6 marks) ii. In addition, could you indicate to Mr. Francois and family about the types of experiences that they may encounter which ma y no t be always positive. (6 marks) iii. Based on your response, wo uld you advise Mr. Francois to enter a foreign market? Provide justification for your advice. ( 3 marks) (Total - 2 5 marks) Q 4 ( a ). As a n astute entrepreneu r wh o believes in cr eativi t y and innovation , Mr. Francois is pondering about manufacturing something, but he has to think carefully about the product to be manufactured. Therefor e, he needs to 4 unders tand what the Value Chain is about as wel l as the types of strategies that he could utilize t o gain a competitive advantage. a. What information would you provide to Mr. Francois and his family regarding the Value Chain as they think seri ously about going int o the manufacturing sector? (5 marks) b. Also, what are the possible strate gies that could be utilize d once the Manufacturing company becomes established? Identify the strategies b y name , and provide a brief explan a tion for each type of strategy sugg ested. Provide justification for your advice with respect to each strate gy . ( 6 marks) Q 4 ( b ). John Francois Stores has experienced success throughout its years of operations . However, there is no one at the organization a t present who understands how the organization s h ould be e val uated with the objective of taking corrective a c tion , if require d. Y o u are given the opportunity to advise Mr. Francois , his family and se nior staff regarding the process of strategy evaluation, how the objectives are evaluated as well as the challen ges that may arise . You need to be clear in providing advi ce to members of the organization with respect to measuring its performance. Therefore , what would say to Mr. Francois , his family and se nior staff . (1 4 marks) (Total - 2 5 marks)