MGMT 660 Strategic Management in a Dynamic Environment Assignment Sample UAEU, UAE

This free assignment sample is a solution of Strategic Management in a Dynamic Environment assignment under the course MGMT 660.

Moreover, this course explores why effective strategic management leads to quality business performance. The basic concepts and tools of strategic analysis, developing the craft of a well-conceived strategy, and the execution of a strategic plan are covered.

Also, Students will be called upon to probe, question, and evaluate all aspects of a company’s external and internal situation.

Thereby, sizing up a company’s standing in the marketplace and its ability to compete with rivals.

 

 

MGMT 660 Course Learning Outcomes

At the end of the course, students will be able to :

1.Conduct A Comprehensive Strategic Audit Of The Industry Or Industries 

To conduct a strategic audit one must follow the following elements of strategic audit:

Establishing the Criteria

The most important requirement for the data used in the strategic review process is that they be objective. In addition, the criteria should be familiar, well-understood, and accepted measures of financial performance.

Cash flow return on investment (CFROI).

This measure highlights net cash flows from operations rather than reported income and produces a rate of return that can be compared with an alternative company or market rates of return (the cost of capital).

Net economic value added from year to year (EVA).

This is an estimate of the absolute dollar value that is added to shareholder wealth whenever a company gains a return on investment over its cost of capital. EVA incorporates the same basic variables of CFROI but dramatically expresses the evidence. 

Total of shareholders’ return on investment (TSR).

This measures the actual year-to-year taxable income received by shareholders in the form of dividends plus capital gains as a percentage of beginning-of-year market value.

2.Deliver Multi-Media Business Presentations To Executives In A Professional Manner

Here, as examples of fun, humor, interest, participation, and diversion that you can use to bring your presentation to life, and keep your audience attentive and enjoying themselves. Some people in the presentation field refer to these presentational elements as ‘spice’. Like the spice of a meal, spice in a presentation gives it a lift – stimulates the senses, and adds texture and richness. Here are examples of the many sorts of ‘spice’ elements you can add to a presentation:

• Stories
• Questions and ‘hands-up feedback
• Pictures, cartoons, sound-clips, and video-clips
• Straw polls (a series of hands-up votes/reactions which you record and then announce results)
• Audience participation exercises
• Examples and case-study references
• Fables and analogies
• Prizes, awards, and recognizing people/achievements
• Book recommendations
• Fascinating facts (research is easy these days about virtually any subject)
• Statistics (which dramatically improve audience ‘buy-in’ if you’re trying to persuade)
• Games and exercises and icebreakers
• Body language, and the changing tone and pitch of your voice.

 

 

3.Develop Teamwork, Leadership, And Diversity Skills Through Group Projects And Class Discussions

Teamwork

Teamwork is a compound word, combining team and work. Teams are a form of the group normally dedicated to production or problem-solving. That leaves us with the work. This is where our previous example of problem-solving can serve us well. Each member of the team has skills, talents, experience, and education. Each is expected to contribute. 

Leadership

Whether or not there is a “natural leader,” born with a combination of talents and traits that enable a person to lead others, has been a subject of debate across time. In a modern context, we have come to recognize that leadership comes in many forms and representations. Once it was thought that someone with a presence of mind, innate intelligence, and an engaging personality was destined for leadership, but modern research and experience shows us otherwise.

Diversity

Cultural differences should be acknowledged, respected, and appreciated. In other words, everyone should be willing to be flexible and adaptable when working in a team with people from different backgrounds. When deciding who should be a team member, choosing people who have this mindset is important.

4.Prepare Clear And Concisely Written Business Reports With Appropriate Content, Substance, And Documentation;

 Several steps will ensure a well-organized work and a clear, structured narrative:

Make sure you understand the purpose of your writing

The first, and the most important step one should do before writing, is determining what exactly to write. Many people fail to follow this recommendation. As a result, they come up with wordy and complicated texts.

Develop a structure that works for your purpose

Formal report format requires accuracy with all the numbers and data, the language should be official and explicit, the structure is predetermined and strict. Whereas, informal report format tolerates some minor variations in language, style, and section layout. 

Mind your language

The report should be written with formal language and precise terminology. Although the intended audience of the report is likely to know the professional slang, it should be avoided.

5.Use Inputs From The Audit To Formulate Realistic Strategic Alternatives

• To determine the effectiveness of management programs 
•  To analyze the factors and recommend correcting deviations viz.
•  To seek explanations and information and answer questions like what happened / why happened.
•  To the extent, to which like managers have complied 
•  To study the current manpower inventory and identify shortfalls or excesses

6.Apply Strategic Management Theories And Concepts And Use Various Analytical Tools To Formulate Strategies At Corporate, Business, And Functional Levels.

Strategic management is not a simple process; it is complex. Its complexity may be attributed mainly to 3 reasons:

1. Strategic management involves making decisions about the future. The future is uncertain. A manager can’t be sure about the future. Therefore, strategic management involves a high degree of uncertainty.
2. Managers in different departments in an organization have different priorities. They must reach an agreement to ensure an. integrated approach. Strategic management needs an integrated approach, which is difficult to achieve.
3. Strategic management involves major multifarious changes in the organization. It heeds changes in organizational culture.

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