Identify a minimum of three risk or threats for one business

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Reference no: EM133882527

Homework: Business- Strategic Planning

The following Course Outcome is assessed in this homework:

Formulate a strategic plan to improve competitive advantage within target markets.

Scenario:

It has been some time since you became the general manager of the Turul Winery in the FLIGBY simulation theme and gameplay. As the general manager of the Turul Winery, you spent countless hours and a great deal of effort assessing the design and strategy of the organization. As a result, you have a deep understanding of the organization, and the owner has requested that you formulate a strategic plan to improve the competitive advantage of the Turul Winery within target markets. This requires you to conduct an additional series of strategic analyses to understand the Turul Winery's competitive position in current and potential future markets. You will analyze the external environment to explore opportunities and threats to the business.

Furthermore, you will investigate the internal environment of the Turul Winery to determine factors that lead to competitive advantages for the business. Based on your findings, you will construct a business model canvas to inform your market research efforts to identify a business expansion opportunity. Your goal is to demonstrate skill and expertise in assessing and planning a results-oriented organizational (business-level) strategy focused on resilience, efficiency, and innovation to ensure competitive advantage, sustainability, and growth. You will use the results of these analyses to inform the development of a strategic plan due to the owner of Turul Winery in 2 weeks.

Use the following criteria to conduct various forms of analyses to inform your strategic plan for an expansion effort into the international marketplace.

Task

I. Strategy Report Format

1. Use the Strategic Planning Template to develop your strategic report for the owner of Turul Winery.

2. Your strategic report should have a title page, table of contents, executive summary page, content pages, and a reference page.

3. Design a professional report using images, charts, diagrams, etc., to aid in disseminating information.

4. The strategy report is written in the third person.

II. Strategic Planning & Analysis

1. Explain the strategic planning process.

2. Explain the purpose of strategic analysis in the strategic planning process.

3. Evaluate the current mission, vision, and values of the Turul Winery business.

4. Explain the concept of competitive advantage and why it is important to an organization.

III. SOAR Analysis for Competitive Advantage

Produce a SOAR analysis diagram based on the following inquiries:

1. Analyze the Turul Winery to identify a minimum of three organizational strengths that result in competitive advantages.

2. Analyze the Turul Winery to identify a minimum of three domestic and international business expansion opportunities that capitalize on the organization's competitive advantages.

3. Analyze the Turul Winery to realize a minimum of three organizational aspirations that may result from the organization's competitive advantages.

4. Analyze the Turul Winery to determine the expected results of market opportunities and organizational aspirations derived from the organization's competitive advantages.

IV. Business Expansion Research

1. Outline and explain one idea for business expansion in domestic markets based on the results of your extensive series of analyses.

2. Outline and explain one idea for business expansion in international markets based on your extensive series of analyses.

3. Analyze the segmentation variables of one domestic market for one business expansion idea using research tools.

4. Analyze the segmentation variables of one international market for one business expansion idea using research tools.

V. PESTLE Analysis

Analyze the external environment of the domestic and international marketplace to identify any risks and threats related to the business expansion ideas in association with each component of a PESTLE analysis:

1. Develop a diagram illustrating the six components of a PESTLE analysis.

2. Identify a minimum of three risks or threats for one business expansion idea in one domestic market using a PESTLE analysis.

3. Identify a minimum of three risks or threats for one business expansion idea in one international market using a PESTLE analysis.

VI. Business Model Canvas

Using all of the information, ideas, and thoughts you have developed as a result of the extensive analyses you have done on the Turul Winery, produce a business model canvas using the template.

1. Complete the nine required sections in the business model canvas.

2. Demonstrate convergent analytical thinking in each section of the business model canvas.

3. Include a minimum of three bullet points of information in each section of the business model canvas.

VII. Audience, Reasoning, and Research

1. The strategy report addresses the owner of the Turul Winery.

2. Use reasoning skills to support your statements, ideas, and decisions.

3. Use a minimum of three peer-reviewed academic research resources to substantiate your thoughts, opinions, and ideas

Reference no: EM133882527

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