Reference no: EM132427498 , Length: word count :- 250
Prior to beginning this discussion, Strategic plans are focused on current and future company goals, therefore changes in the environment must be detected and monitored. Changes in the environment that impinge on the company's strategic plan are known as external triggers and triggers are paired with plans to successfully deal with them. These paired actions are known as contingency plans.
- What qualities make a future issue a "trigger"?
As an example, consider you are on the strategic planning team for a soft drink company. A merger of two major competitors next year would constitute a future trigger. For this discussion, consider the Environmental Scan and SWOT analysis. Formulate a trigger/contingency pair in the form of a three-part sentence. Examine it in terms of the three guidelines that good contingency plans should follow.
Post a summary of your selected company and risks that you perceive based on your prior Environmental Scan and SWOT analysis. State the three-sentence trigger/contingency pair and justify your choice of contingency plan using information from the week's readings and/or other scholarly or credible resources, using the Scholarly, Peer-Reviewed, and Other Credible Sources
Guided Response: Review several of your peer's posts. Respond to at least two of your posts in a substantive manner and provide recommendations to extend their thinking. Support your position by using information from the week's readings, or examples from current events and/or other scholarly or credible resources, using the Scholarly, Peer Reviewed, and other Credible Sources (Links to an external site.) table for guidance. Properly cite any references according to APA style as outlined in the Ashford Writing Center's APA Style (Links to an external site.) resource.
Whose View of Strategy Is the Most Relevant Todayand view the required You Tube video Five Competitive Forces That Shape Strategy , regarding Porter's five forces. In the video, Mr. Porter discusses how Porter's Five Forces Analysis is an important tool for assessing the potential for profitability in an industry. As an example, Mr. Porter applied these five forces to the airline industry. Think of another industry where profitability is low. In an initial post of at least 250 words, apply the five forces to your chosen industry and demonstrate how those forces can lower profitability.