Select and test analytical and integrative tools to perform in-depth analyses of industries, firms, and competitors in both domestic and global markets.
You enter your project team meeting with Mike and Tiffany to hear them discussing the tools that they found to conduct an analysis of the industry and competitors. “Mike, there are so many more tools than I even realized to give us some good data,” Tiffany states.
“I know,” Mike says. “That’s why I wanted to take some time to look at our options and figure out what information we really need to support the board’s decision.”
Mike and Tiffany both found some great tools from their research on the subject. Complete the following:
Based on your classmates’ discussion posts for Week 2, do you still believe the tools that you selected will work best for a global strategy? Why or why not?
What evidence do you have to support your decision?
- How would you refute the people who chose an additional tool rather than one of the tools that you selected?
- Based on the tools that you selected, provide a brief analysis of your market, using those tools
n Unit 2 we will investigate and review Integrative and Analytical Tools. We will test analytical and integrative tools to perform in-depth analyses of industries, firms, and competitors in both domestic and global markets.Our learning outcomes for this week is: Select and test analytical and integrative tools to perform in-depth analyses of industries, firms, and competitors in both domestic and global markets.Strategic Analytics: Integrating Management Science to Strategy: Chapters 3, 4, & 8McPhail, I. P., & McPhail, C. J. (2020). Strategic planning as a leadership development tool for midlevel leaders. New Directions for Community Colleges, 2020(191), 21-33. https://doi.org/10.1002/cc.20403Pušnik, M., Šumak, B., & Štumpfl, U. (2020). Analysis of strategic planning assistance tools. Faculty of Organization and Informatics Varazdin. https://www-proquest-com.coloradotech.idm.oclc.org/docview/2531373666?pq-origsite=summon&accountid=144789Here is the feedback from last weeks assignment:Opportunities for improvement:How could you use the VRIO framework as part of your analysis? As you continue with your strategic expansion plan. consider the impact of the external environment. How much of a factor is the ASEAN trade bloc agreement on the trade relationships between China and the US. Which bilateral trade relationships benefit China? What are the impacts on imports and exports of goods? What impact could this have on the furniture industry in China?What is the current level of skilled labor? Is there a surplus or a shortage?Additional Comments: Continue to research your country and look to begin the next IP assignment building on the data you have collected.
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