Create a list of characteristics in contemporary business

Assignment Help Management Theories

Reference no: EM132317523

Topic - Managing strategy

Learning outcomes - The work that you do in this topic will help you to achieve the following learning outcomes in the subject:

critically analyse and evaluate a variety of management and organisational theories and practices in the context of the contemporary business environment
reflect critically on management issues such as ethics, sustainability, innovation and entrepreneurship, and how they are shaping 21st century organisations.

Learning activity 1 -

Two approaches are raised in the case to handle the strategy dilemma. One is to match online prices, while discouraging price comparison. The second approach is a little more visionary - to reposition the company towards better service, knowledgeable salespeople, exclusive products and after-sales support. This is tricky, because Benjy's has built its reputation on price and volume.

What advice would you give the Board regarding the two options that have been proposed? Read the case carefully to extract the issues and the arguments.

Learning activity 2 -

Create a list of characteristics of the general environment in contemporary business, drawing on your general knowledge and, perhaps, previous studies. This shouldn't be too difficult to do.

Now, explain how you would actually use this information to formulate strategy if you were a senior manager of an electronics products retailer with stores across Australia and overseas. Focus on Australia only.

Learning activity 3 -

Run a five forces analysis of the electronic retail sector in Australia. Using your own background knowledge and basic internet searching, try to scope out as many of the five forces as you can.

Then, weigh up the balance of these forces and decide how attractive the sector is for a new entrant.

Now, reflect on this process: what are the strengths, what are the weaknesses?

Learning activity 4 -

Thinking of the VUCA environment today, how useful is this process of strategy-making?

What limitations can you identify?

Learning activity 5 -

Use the knowledge from the traditional approach to strategic management to justify the advice that you provided in Learning activity 1, or revise your advice. Refer to specific concepts and tools from the knowledge summarised above.

Case discussion activity: Can you win back online shoppers?

Using the knowledge that you have gained from the topic together with additional resources that you locate, answer the following questions:

1. What conflicting values are evident in this case?

2. What advice would you give the Board of Benjy's about a way forward that resolves the values conflict?

3. What management competencies do you believe this case highlights that are important for the 21st century leader-manager in VUCA world?

Attachment:- Assignment File.rar

Reference no: EM132317523

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