Using Analytic Tools for Strategic Decision-Making

Develop a strategic framework to increase the competitive advantage of a business.

PC-2.2: Formulate innovative solutions for identified initiatives.

To start this assignment, choose an organization from the list provided by your instructor.

• Visit the Mergent Market Atlas in the to research your chosen organization. Become very familiar with this Library database. You will need it.
  • Analyze the details, latest annual report, latest news, review competitor information, etc., about your chosen organization.
  • You may also want to visit the websites of your chosen organization and its competitors for more information and observation.

Scenario:

You are the director of strategy and business intelligence for your chosen organization. You are developing a strategic plan for your chosen organization for an upcoming meeting with your organization’s corporate-level executives. They loved your idea for an innovative new product and would like you to develop a strategic plan for further consideration. Use the following criteria to develop the strategic plan for your innovative new product idea.

Assignment Requirements: In this assignment, you will develop a strategic plan for your chosen organization. Address each of the following inquiries in your deliverable using the .

Product Offering Analysis

1. Articulate the current state of your chosen organization and its competitive environment.

• 1.1. In a business letter, articulate the strategic position of your chosen organization within the industry in which it operates.
• 1.2. Provide a detailed overview of the product mix of your chosen organization.
• 1.3. Analyze the product mix of your chosen organization against its rivals.

Organizational Competencies

2. Use the SOAR analysis framework to identify opportunities and set results-oriented aspirations based on the strengths of your chosen organization.

• 2.1. Analyze your chosen organization to identify at least three strengths that may result in competitive advantages.
• 2.2. Determine at least three business expansion opportunities based on your chosen organization’s competitive advantages.
• 2.3. Develop at least three aspirational product ideas that may result from organizational expansion opportunities.
• 2.4. Explain any expected results from the successful implementation of each aspirational product idea you propose.

Innovative New Product Idea

3. Formulate an innovative new product idea to develop competitive advantages for your chosen organization.

• 3.1. Introduce the innovative new product idea that you developed in the unit 5 assessment for your chosen organization.
• 3.2. Explain the problem or opportunity your innovative new product idea is intended to solve.
• 3.3. Explain how your product is intended to meet customer expectations.
• 3.4. Explain the strategic direction of your innovative new product.
• 3.5. Develop and tell a story about your new product idea.
  • 3.5.1. Explain how the branding and new product idea will impact and/or interact with existing branding and product lines or items offered within the product mix of organization.

Vision, Mission, and Values

4. Formulate a vision, mission, and value statement for your innovative new product idea that increases the competitive advantage of your chosen organization.

• 4.1. Formulate a vision statement for your innovative new idea.
  • 4.1.1. Explain how your vision statement increases the competitive advantage of your chosen organization.
• 4.2. Explain how the mission statement for your chosen organization will support the vision for your innovative new product idea that increases the competitive advantage of your chosen organization.
  • 4.2.1. Revise the mission statement of your chosen organization if necessary.
• 4.3. Explain how the values statement of an organization supports the vision for a new idea that increases the competitive advantage of an organization.
  • 4.3.1. Explain how the values statement of the organization supports the mission statement of the organization.
  • 4.3.2. Revise the values statement of your chosen organization if necessary.

Strategic Approach

5. Choose an appropriate strategic approach to support the vision for an innovative new product idea that increases the competitive advantage of your chosen organization.

• 5.1. Analyze various strategic approaches that can lead to the development of competitive advantages for an organization.
• 5.2. Choose one generic strategy to use to launch your innovative new product idea that will result in competitive advantages for your chosen organization.
• 5.3. Explain how employing your chosen strategic approach can develop competitive advantages for your chosen organization.
• 5.4. Explain whether the organization should implement a strategic approach as a first mover, a fast follower, or a late mover is most advantageous.

Strategic Objectives and Initiatives

6. Design one strategic goal and three strategic objectives that drive the implementation of a strategy for a new idea that increases an organization’s competitive advantage.

• 6.1. Identify critical success factors to ensure the success of organizational objectives.
• 6.2. Develop an objective that adheres to corporate social responsibility and environmental sustainability standards while balancing these duties with economic responsibilities to shareholders.
• 6.3. Develop innovative projects to drive the implementation of a strategy for a new idea that increases the competitive advantage of an organization.

Strategic Alternatives and Contingencies

7. Identify strategic alternatives that may increase efficiency and contingency plans to mitigate risks.

• 7.1. Decide if an organization should consider outsourcing, mergers, or acquisitions to increase its competitive advantage.
• 7.2. Develop a contingency plan to counter or mitigate risks and threats to a strategic plan using the assumption-based planning technique.

Conclusive Remarks

8. Produce a concise and persuasive pitch to convince the C-level executives of your chosen organization to fund the development of your innovative new product idea.

APA Style

• Apply APA Style to in-text citations with minor errors.
• Apply APA Style to references, with minor to no errors.
• Use three reliable and/or scholarly research resources.

Writing Conventions

• Use at least three peer-reviewed academic research resources to substantiate your critical thinking and provide viable reasoning for your perspectives.
• Use headings to segment the topics in your writing to create a flow of ideas for your reader.
• Use diagrams, images, and charts to give context to your writing.
• Use reasoning skills to support your statements, thoughts, opinions, and ideas.
• Write in the third person to develop your business report.

You should make thorough use of the reading resources to complete this deliverable. You are a professional and will need to determine how many slides and how long the presentation should be to meet the requirements of this assignment. You can do professional research and make strategic decisions at this level of your degree program. Take the initiative to be the problem solver and strategic decision-maker.

Note: Please go off of the template and once questions are answered, delete red portion.