Reference no: EM132960279

Based on IKEA furniture store

• Explain the macro-environment, how to analyze the macro-environment and its importance to strategy development. Use theories, principles, and concepts from various research resources to substantiate your thoughts, opinions, and ideas (read pages 50-53 in your textbook).
• Conduct a PESTEL analysis and identify three strategically relevant factors per PESTEL component that may impact the long-term direction of your chosen company, including its strategic vision and mission, objectives, and business model (pages 50-53 in your textbook).
• After the PESTEL analysis table, explain what strategically relevant factors are most likely to have a higher impact and which are likely to have a lower impact on your chosen company's situation and business strategy (page 50 in your textbook).
• Explain the five forces framework and its value in diagnosing the competitive conditions in a company's industry (pages 53 and 68-69 in your textbook).
• Conduct an analysis using the five forces framework to diagnose the competitive conditions in your chosen company's industry.
• Analyze the rivalry among competing sellers of your chosen company (pages 53-56 in your textbook).
• Analyze the competitive pressures associated with the threat of new entrants (pages 57-62 in your textbook).
• Analyze the factors affecting competition from substitute products (pages 62-64 in your textbook).
• Analyze the factors affecting the bargaining power of suppliers (pages 64-66 in your textbook).
• Analyze the factors affecting the power of buyers (pages 66-68 in your textbook).
• Explain the significance of the SOAR framework for competitor analysis as a strategic analysis tool in your chosen company's industry (pages 77-79 in your textbook).

Assignment Part 2 Requirements:

• Explain how the tools for analyzing the internal environment of an organization found in Chapter 4 of your textbook can help your chosen organization to develop a competitive edge over rivals (page 87 in your textbook). Use theories, principles, and concepts from various additional research resources to substantiate your thoughts, opinions, and ideas.
• Explain the components of a single-business company's strategy (pages 88-89 in your textbook).
• Identify three key financial ratios. Explain why they are strategically important and how your chosen company can use them to analyze its current situation for strategic planning purposes (pages 89-91 in your textbook).
• Explain the value of conducting a SWOT analysis to a company (pages 91-92 in your textbook).
• Conduct a SWOT analysis on your chosen company. Determine the company's strengths and weaknesses in relation to the market opportunities and threats (pages 91-95 in your textbook).
• Explain how the results of a SWOT analysis can be turned into strategic actions (page 95 in your textbook).
• Explain how value chain activities impact a company's cost structure and customer value proposition (pages 102-112 in your textbook).
• Explain how your chosen company's resources and capabilities give it a competitive edge over rivals (pages 96-112 in your textbook).
• Explain what strategic issues and problems merit front-burner managerial attention for your chosen company (page 115 in your textbook).
• Analyze the results of your strategic analyses and explain your chosen company's competitive situation and how this information can assist managers in making critical decisions about their next strategic moves.

Reference: Thompson, A. (2019). Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases. [Purdue University Global Bookshelf]. Retrieved from https://purdueuniversityglobal.vitalsource.com/#/books/9781260157369/