The goal of conducting a competitor analysis is to gather information about the company’s competitors and systematically formulate a strategy to become the market leader in the industry. In formulating any strategy, it is imperative that the company understand its organizational structure as well as the internal and external forces which could impact their strategic decisions.
Based on the company you chose in the previous module, analyze the organization’s mission, vision, and values, its ability to compete, and the effectiveness of its management team in executing strategy. Some of the factors to be considered in doing this evaluation include the company’s internal resource capabilities, its relative cost position, and its competitive strength.In addition,evaluate the competitive strategy of your selected organization and examine how this strategic approach drives the rest of the strategic actions the company undertakes in terms of product line, production emphasis, marketing emphasis, and the means for sustaining the strategy. Make sure to include at least one analytical tool such as SWOT analysis, Porter’s, BCG, etc. in your analysis.
Research your selected organization’s strategy and analyze the following elements:
- The organization’s mission, vision, and values. What does it tell you about the company, their culture, their direction? Does it convey the purpose and primary objectives of the company? If so, how, if not what is missing?
- The organization’s strategic goals. Based on your research, what are the top three strategic goals of your chosen company?
- The relative alignment of strategic goals with the organization’s mission, vision, and values. Include at least three examples of how the strategic goals help and/or hinder the organization in achieving its mission, vision, and values.
- Additions or changes you would recommend to the strategic goals to better achieve the company’s mission, vision, and values. Include at least two additions or changes and justify your response.
- Describe the relevant external factors and influences (at least 3) which could affect the decisions the company makes about its direction, objectives, strategy, and business model.
- Describe the Internal factors and influences (at least 3) which could impact the company’s decision making such as the company’s market position and its competencies, capabilities, resource strengths and weaknesses, and competitiveness.
- Does your selected organization have a focused strategy that differentiates it from other companies in the same marketplace? Explain your answer.
- Is the organization seeking a competitive advantage by taking the initiative in the marketplace? Explain your answer.
- Does the organization have a strategy for competing in international markets? Does it appear to have a solid understanding of local customer needs and preferences to create customized products or services? Does it appear to know how to transfer company expertise to initiate actions to compete internationally?
- Make sure you utilize at least one analytical tool in your analysis of this section.
Write up your findings in a 6 to 8 page MS Word format paper which complies with APA standards, including proper grammar and spelling. Include at least three scholarly resources in your report.
By Wednesday, November 16, 2016, turn in your assignment to the M3: Assignment 2 Dropbox.
| Assignment 2 Grading Criteria |
Maximum Points
|
| Assessment of the organization’s mission, vision, and values is clear, complete, and reasonable. It includes description of the company’s culture and direction; it addresses any missing elements that are needed in any of the statements. Assessment is grounded in research. |
16
|
| Identification of several top strategic goals is clear and accurate. The assessment of those goals is specific to the identified goals, is reasonable to the organization and the goal, and is grounded in research. |
16
|
| Alignment of strategic goals to the mission, vision, and value statements is clear and complete. Several, specific examples of how the strategic goals help and/or hinder the organization in achieving its mission, vision, and values are presented and appropriate. |
16
|
| Recommendations are appropriate and achievable for the company. They directly will help a company achieve its mission, vision, and values. Justification for the recommendations is research-based, reasonable, and clear. |
16
|
| External factors and influences that could affect the decisions the company makes about its direction, objectives, strategy, and business model are clear and represent the most obvious factors and influences. The factors and influences address the direction, objectives, strategy, and business model. |
16
|
| Internal factors and influences that could affect the decisions the company makes about the company’s market position and its competencies, capabilities, resource strengths and weaknesses, and competitiveness are clear and represent the most obvious factors and influences. |
16
|
| Explanation of the company’s focus strategy is clear and appropriate. Using specific examples, it demonstrates how the strategy differentiates from other companies in the marketplace. If there is no differentiation, explanation provides recommendations of how it can differentiate. |
16
|
| Explanation of how the organization is seeking or is not seeking a competitive advantage in the marketplace is clear, thorough, and provides specific examples to support ideas. |
16
|
| Evaluation of the organization’s strategy for competing in international markets, local customer needs and preferences is clear, complete, and provides specific examples to support its ideas. If there is no strategy, evaluation includes a brief proposal of how the organization can compete in international markets and address local customer needs to create a customized products or services. |
16
|
| Utilization of the analytical tool is appropriate and complete. All elements of the tool are addressed and clearly presented. |
12
|
| Written Components:
Organization (12) usage and mechanics (12) APA elements (16) Style (4) |
44
|
| Total: |
200
|