Reflection Report on Management Policy and Strategy
Our group has select Veeko, a declining brand, to demonstrate important of the strategic choice and the how to set the strategy base on internal resource and capability in the Capstone project. We apply the Michael Porter’s 5 force model to evaluate the industry competitively and PEST model for the external environment. Our finding was that most factors are unfavorable for the company to sustain growth. We also conducted the SWOT analysis to identify the internal strengths and weaknesses and the external opportunities and threats. The challenge to us was that Veeko was a company without any core competence. Professor Howard inspired us to build the strength by organizational restructuring. We proposed Veeko change from a family business structure to a multi-divisional structure. We also apply the McKinsey 7-S framework to ensure the restructure implementation successfully. The SWOT analysis played a key role in this project.
We suggest implementing the strategy controls and improving the Corporate Governance to reactivate the hidden financing power. After the restructuring, Veeko might be able to raise fund for diversification in financial market.
We have learnt a new strategy tool for strategy options in this course. Bowman’s strategy clock provides an easy comparative position for our competitors. We selected different position in different market according to our capability and resource at that time.
I find that the most meaning thing is studying by Knowledge-building Worksheet. We analyzed the case study through COLLECT the key points, CONNECT the key points to the topic and CREATE some new ideas. I really enjoy create the new ideas and sharing the opinions among the teammates.
If I were given the chance to do it all over again, I would focus more on decision choice and the different between the short and long term competition strategy. I believe it is more interesting than...
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