Reference no: EM131415117
It is time to move on to the problem identification and construction of the TWOS matrix. The company is GE (General electric)
Your duty is to identify the main problems/issues that your firm is currently facing, and also identify a set of secondary problems. Main or primary issues are those requiring immediate attention for the firm to achieve its goal and objectives (mostly to maximize profits but not limited to).
Secondary problems are also important for the firm and normally derive from failure to achieve its main goals and objectives along with its mission and vision. Thus, I expect that you as a group will spend a significant amount of time identifying these problems and providing a ranking according to their relevance. In this identification process is important to distinguish between recurrent problems (those requiring policies and procedures such as hiring practices) and those that involve actual decision making because of their less frequent occurrence (such as a M&A process).
In addition, your primary duty is to construct a TWOS matrix and identify a set of feasible strategies (a minimum of 12 strategies must be identified - three per each combination i.e., SO, WO, ST & WT), directly useful to address the main and secondary problems the firm is facing.
It should focus on identifying the strategies and discussing why and how they are useful for the company's success. Chapter 6 provides a detail list of Business and Corporate Strategies, but you should also explore further strategies as needed. More information is also available in Chapter 7.
The textbook used is Strategic Management and Business Policy, Globalization, Innovation and Sustainability. Wheelen, T.L., J.D. Hunger, A. Hoffman and C. E. Bamford 14th Edition (2015), Pearson Prentice Hall.
Information about GE can be found in their website.
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