BUS489 Strategy For Business Assignment Sample Singapore
The BUS489 Strategy For Business course is designed to develop students’ ability to formulate and implement effective business strategies. The course focuses on the impact of environmental factors on strategic decision-making, and the process of developing and evaluating alternative strategies. Students will learn how to use analytical tools to evaluate strategic options and make sound decisions. The course also covers topics such as competitive advantage, industry analysis, and business-level strategies. By the end of the course, students should be able to develop and implement effective business strategies that create value for their organizations.
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In this section, we are discussing some assignment briefs. These are:
Assignment Brief 1: Examine business issues and evaluate business competitiveness using analysis techniques that are commonly applied in strategic planning.
In order to examine business issues and evaluate business competitiveness, analysts commonly use a number of different techniques. Some of the most popular methods include SWOT analysis, competitor analysis, and customer segmentation.
By taking a close look at each of these areas, businesses can develop a clear understanding of their strengths and weaknesses, as well as the opportunities and threats that they face. This information is essential for making informed decisions about strategic planning. With a comprehensive understanding of the business landscape, businesses can make better decisions about where to allocate resources and how to position themselves in the market.
By using these analytical techniques, businesses can gain a significant competitive advantage.
Assignment Brief 2: Evaluate the external factors affecting the business.
The external factors affecting a business can be divided into two main categories: macro-environmental and micro-environmental.
Macroenvironmental factors are those that are beyond the control of the company, such as economic conditions, political developments, and social trends.
- Economic conditions refer to the overall state of the economy, including indicators such as inflation, interest rates, and GDP growth.
- Political developments can include changes in government policy, tax laws, and regulations.
- Social trends refer to shifting demographics and consumer preferences.
Microenvironmental factors are those that are within the control of the company, such as suppliers, distributors, customers, and competitors.
- Suppliers provide the raw materials or components that are used to produce a good or service.
- Distributors help to get the finished product to market.
- Customers are the individuals or businesses who purchase goods or services.
- Competitors are other companies who offer similar products or services.
The external environment can have a major impact on a company’s ability to succeed in the marketplace. By understanding the various factors that make up the external environment, companies can make better decisions about strategic planning and resource allocation.
Assignment Brief 3: Appraise the internal factors affecting the business.
Internal factors are those that exist within the organization and are under the control of management. There are many internal factors that can affect the business, such as company culture, human resources, organizational structure, and strategy. All of these factors need to be taken into account when appraising the business.
- Company culture is the set of values and beliefs that guide the behaviour of employees. It can have a big impact on how motivated and engaged employees are, as well as how they interact with customers.
- Human resources include all the people who work for the organization, from senior management to front-line staff. The skills and experience of the workforce will affect the business’s ability to meet its goals.
- Organizational structure refers to how the business is organized, including the reporting relationships between different departments. The way the organization is structured can affect how efficiently it runs and its ability to adapt to change.
- Strategy is the plan of action that the business will take to achieve its goals. It includes both long-term plans and short-term tactics. The business needs to have a clear strategy in place in order to be successful.
All of these internal factors need to be taken into account when appraising the business. Management needs to ensure that they are aware of all these factors and that they are being managed effectively.
Assignment Brief 4: Formulate business-level strategies.
Business-level strategies are the plans that a company develops to achieve its goals and compete in its chosen market. There are three main types of business-level strategy:
- Cost Leadership: This is where the company focuses on becoming the low-cost producer in its industry. The company achieves this by using economies of scale, efficient production methods, and tight cost control.
- Differentiation: This is where the company focuses on creating a unique product or service that offers value to customers. The company achieves this by investing in research and development, marketing, and customer service.
- Focus: This is where the company focuses on serving a specific market niche. The company achieves this by tailoring its products or services to meet the specific needs of the niche.
The company needs to choose the business-level strategy that is right for its situation. The choice will be based on a number of factors, such as the nature of the industry, the competitive environment, and the company’s strengths and weaknesses.
Once the company has chosen its business-level strategy, it needs to implement it effectively. This includes putting the right policies and processes in place, as well as making sure that all employees are aware of the strategy and know how to execute it.
Assignment Brief 5: Assess competitive rivalry and predict the likelihood of attack and response.
Competitive rivalry is the competition that exists between companies in an industry. The level of rivalry will depend on a number of factors, such as the number of competitors, the similarity of their products or services, and the size of the market.
Companies need to be aware of the level of competitive rivalry in their industry and plan accordingly. If the level of rivalry is high, companies need to be prepared for attacks from their competitors. They also need to be prepared to respond to these attacks.
Companies need to monitor the actions of their competitors closely and be ready to respond quickly if necessary. They also need to keep an eye on emerging threats and be prepared to take action if necessary.
The level of competitive rivalry will have a big impact on the business. Companies need to be aware of this and plan accordingly.
Assignment Brief 6: Implement corporate-level strategies.
Corporate-level strategies are the plans that a company develops to achieve its goals at the corporate level. These strategies are usually long-term in nature and encompass the entire company.
There are four main types of corporate-level strategy:
- Conglomerate diversification: This is where the company expands into new markets and products. The company achieves this by acquiring or investing in new businesses.
- Horizontal integration: This is where the company expands its operations in the same market. The company achieves this by acquiring or investing in other companies in the same industry.
- Vertical integration: This is where the company expands its operations upstream or downstream. The company achieves this by acquiring or investing in companies that are involved in the production or distribution of its products.
- Concentration: This is where the company focuses on a specific market or product. The company achieves this by divesting non-core businesses and concentrating its resources on its core business.
These corporate-level strategies can be used to achieve a number of different goals, such as growth, increased market share, or increased profitability.
Assignment Brief 7: Propose a suitable international strategy to gain entry into the global market.
There are a number of different international strategies that companies can use to gain entry into the global market. The best strategy will depend on a number of factors, such as the company’s resources, the nature of the product or service, and the target market.
The most common international strategies are: exporting, licensing, franchising, joint ventures, and direct investment.
- Exporting is the simplest and most common international strategy. It involves selling the company’s products or services in foreign markets.
- Licensing allows companies to sell their products or services under a foreign company’s brand name. This is a low-risk way for companies to enter new markets.
- Franchising is a type of licensing. It involves giving a foreign company the right to use the company’s brand name and business model.
- Joint ventures are partnerships between two or more companies. They are often used to enter new markets or develop new products or services.
- Direct investment is when a company sets up operations in a foreign country. This is the riskiest but also the most rewarding international strategy.
These are just a few of the international strategies that companies can use to gain entry into the global market. The best strategy for a particular company will depend on its resources and objectives.
Assignment Brief 8: Inspect the implications of cooperative strategies and other strategic options.
There are many implications of cooperative strategies and other strategic options. These implications can be divided into four main categories: financial, legal, operational, and reputational.
- The financial implications of cooperative strategies and other strategic options can be significant. Companies need to consider the cost of these strategies and the potential return on investment. They also need to consider the impact of these strategies on their financial statements.
- The legal implications of cooperative strategies and other strategic options can be complex. Companies need to consider the laws of both their home country and the foreign country. They also need to consider the impact of these strategies on their contracts and agreements.
- The operational implications of cooperative strategies and other strategic options can be significant. Companies need to consider the impact of these strategies on their operations. They also need to consider the impact of these strategies on their employees.
- The reputational implications of cooperative strategies and other strategic options can be significant. Companies need to consider the impact of these strategies on their reputation. They also need to consider the impact of these strategies on their brand.
These are just a few of the implications of cooperative strategies and other strategic options. Companies need to carefully consider all of these implications before making any decisions.
Assignment Brief 9: Analyse different case scenarios.
There are many different case scenarios where companies might use cooperative strategies and other strategic options. These cases can be divided into four main categories: market entry, product development, expansion, and restructuring.
- In the market entry scenario, companies use cooperative strategies and other strategic options to enter new markets. This might involve partnering with a local company or setting up a joint venture.
- In the product development scenario, companies use cooperative strategies and other strategic options to develop new products or services. This might involve licensing a foreign technology or partnering with a local research institution.
- In the expansion scenario, companies use cooperative strategies and other strategic options to expand their operations into new countries. This might involve setting up a new production facility or opening a new sales office.
- In the restructuring scenario, companies use cooperative strategies and other strategic options to restructure their operations. This might involve selling off a division or closing a factory.
These are just a few of the case scenarios where companies might use cooperative strategies and other strategic options. Each company will have its own unique circumstances that will dictate which strategy is best for them.
Assignment Brief 10: Construct case arguments in teams, acquiring team building and team management skills.
In order to construct case arguments effectively, it is important to have a team that is skilled in both team building and team management. The team should be able to work together collaboratively and communicate effectively.
When constructing case arguments, the team should first identify the key issue that needs to be addressed. Once the issue has been identified, the team should research the issue and gather all relevant information. This information will be used to construct the case argument.
Once the case argument has been constructed, the team should then present it to the client. The presentation should be clear and concise. It should also be well-organized and logical.
After the presentation, the team should then be prepared to answer any questions from the client. The team should also be prepared to defend its argument.
The team should also be prepared to make changes to the argument as needed. This may require additional research and collaboration between team members.
Team building and team management skills are essential for success in this type of work. These skills will help to ensure that the team is able to work together effectively and produce a high-quality product.
Assignment Brief 11: Demonstrate well-developed written proficiency.
In order to demonstrate well-developed written proficiency, it is important to be able to communicate clearly and concisely in writing. It is also important to be able to use proper grammar and punctuation.
When writing, it is important to keep the audience in mind. The tone and style of the writing should be appropriate for the audience.
It is also important to be able to organize information in a clear and logical manner. The argument should be easy to follow.
Finally, it is important to be able to edit and revise the writing as needed. This may require making changes to the structure of the argument or adding or removing information.
Well-developed written proficiency is essential for success in this type of work. This skill will help to ensure that the argument is clear and easy to follow. It will also help to make sure that the argument is persuasive and convincing.
Assignment Brief 12: Practise oral presentation skills.
In order to practice oral presentation skills, it is important to be able to communicate clearly and concisely. It is also important to be able to use proper grammar and pronunciation.
When presenting, it is important to keep the audience in mind. The presentation should be tailored to the audience.
It is also important to be able to organize information in a clear and logical manner. The presentation should be easy to follow.
Finally, it is important to be able to edit and revise the presentation as needed. This may require making changes to the structure of the argument or adding or removing information.
Oral presentation skills are essential for success in this type of work. This skill will help to ensure that the argument is clear and easy to follow. It will also help to make sure that the argument is persuasive and convincing.
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