We expect you to select the company or organisation which you work for and answer the assignment in that context.
If you are currently unemployed you might choose a company which you used to work for.
You might wish to include an outline summary of the company in an appendix, which would be outside the assignment’s word count
You should ensure you address the following key areas:
General societal trends and their implications for the organisation (i.e. PEST analysis); 2.
Industry competitive position/competitive dynamics (i.e. using Porter’s five forces) 3.
Competitor analysis (comparative analysis of key competitors and/or strategic groups if applicable) 4.
Market trend analysis (i.e. general trends, segmentation and emerging opportunities).
The application of the above should be characterised by underpinning evidence, interpretive/analytic approach (rather than mechanistic), and drawing of appropriate conclusions for your chosen organisation.
Concentrate on analysis rather than description!
Conduct a thorough strategic analysis of your organisation’s external environment - (or one with which you are familiar) - using the models covered in the course - and critically evaluate how the identified issues might impact on your organisation’s business strategy. Strategic Management is the set of decisions and actions that result in the formulation and implementation of plans to achieve a company’s objectives. Through the strategic management process, managers at all levels interact to produce the most desirable strategies. Strategic management enhances the company’s ability to prevent problems.
The implementation phase of strategic management consists of two parts: analysis and choice, which are vital links in the process. When conducting analysis and making choices, you set long-term objectives, analyze it and choose generic strategies - low cost, differentiation, focus (niche), that best fit your company mission and changing circumstances by using various techniques. By choosing the right strategy, your company will be more effective at building sustainable competitive advantages as well as maximizing shareholder value. The external environment consists of the factors and forces that influence the company’s strategic options and define the company’s competitive situation. An analysis of the external environment is an attempt to understand the forces outside organizational boundaries that are helping to shape the organization. The factors and forces in the external environment are so dynamic and interactive that the impact of any single element cannot be wholly disassociated from the impact of other elements. For instance, the increases in OPEC oil prices were caused by multiple factors, including economic, political and other factors. Assessing the factors in a firm’s external environment is important for strategic decision-making. It helps managers to narrow the range of available options and to eliminate options inconsistent with forecasting results.
There are three categories of factors and forces:
BP is one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. BP started life as a pioneering company, at the frontier of what was possible. BP continue to push back the boundaries, from the giant finds in the Middle East, to the frozen tundra of Alaska, and by securing access to new resources and markets around the world. In Malaysia, since 1964, BP has been helping to fuel Malaysia’s amazing economic transformation. Four decades and $1.5 billion later, BP has a thriving lubricants business, solar energy distributors and four major chemicals plants with over 750 employees.
BP Main Business/ Product Line
Firm’s business line...
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