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Please view explanation and answer below.Managementالمملكة العربية السعوديةوزارة التعليمالجامعة السعودية اإللكترونيةKingdom of Saudi ArabiaMinistry of EducationSaudi Electronic UniversityCollege of Administrative and Financial SciencesAssignment 1Strategic Management (MGT 401)Due Date: 12/03/2022 @ 23:59Course Name: Strategic ManagementStudent’s Name:Course Code: MGT 401Student’s ID Number:Semester: SecondCRN:Academic Year:2021-22-2ndFor Instructor’s Use onlyInstructor’s Name:Students’ Grade:Marks Obtained/Out of 10Level of Marks: High/Middle/LowGeneral Instructions – PLEASE READ THEM CAREFULLY••••••••The Assignment must be submitted on Blackboard (WORD format only) via allocatedfolder.Assignments submitted through email will not be accepted.Students are advised to make their work clear and well presented, marks may be reducedfor poor presentation. This includes filling your information on the cover page.Students must mention question number clearly in their answer.Late submission will NOT be accepted.Avoid plagiarism, the work should be in your own words, copying from students or otherresources without proper referencing will result in ZERO marks. No exceptions.All answered must be typed using Times New Roman (size 12, double-spaced) font. Nopictures containing text will be accepted and will be considered plagiarism).Submissions without this cover page will NOT be accepted.2ManagementLearning Outcomes:▪▪▪Recognize the basic concepts and terminology used in Strategic Management. ClO-1Describe the different issues related to environmental scanning, strategy formulation, andstrategy implementation in diversified organizations. ClO-2Demonstrate how executive leadership is an important part of strategic management. ClO-5Assignment Question(s):A. Discussion questions1. How can a decision maker identify strategic factors in a corporation’s externalinternational environment? (2 marks)2. Discuss the relationship between corporate governance and social responsibility?Give examples. (2 marks)B. Critical thinkingReview the figure 4-3, p.110 from your textbook and answer the following questions:1. Choose any example of industry from the real national or international market, anddetail Porters’ five forces framework with a graphic representation. (2.5 marks)2. According to Porter’s framework, what determines the level of competitiveintensity in your chosen industry? (1.5 marks)3. Assess the threat of new entrants, and substitute products/ services for your chosenindustry. (1 mark)4. Is your chosen industry attractive for investment? Why or why not? (1 mark)3ManagementAnswersA. Discussion questions1. How can a decision-maker identify strategic factors in a corporation’s externalinternational environment?The changes in the external environment are inevitable and thus having theflexibility to deal with the fluctuations can guarantee the business an opportunity tothrive. For instance, the change of government policy might legally require the businessto alter its functioning. The most applicable means for a decision-maker to be flexibleand adaptive to unexpected changes is developing a framework for performingenvironmental scans (Holdgate, 2017). The decision-maker methodically collects,analyses, and interprets information about opportunities and threats in the externalenvironment.PESTEL analysis is a matrix framework that is used in carrying out an externalenvironmental scan composed of six spheres of data. Political, economic, social,technological, environmental, and legal factors are the uncontrollable factors that requirean appropriate plan for action (Gitman et al. 201). The decision-maker lists all externalfactors that might affect the business through brainstorming. This session can includeboth expertise knowledge in and around the business. They analyze the implications ofeach PESTEL aspect of the organization by asking questions such as their impact overtime and the importance of each factor. Finally, they rate the effect and probability ofeach factor. Their goal should be identifying the high-impacting factors that authorizesupplementary consideration.4Management2. Discuss the relationship between corporate government and social responsibility?Give examples.Good governance is not only fundamental for corporations but the society as wellthus an increasing relationship between corporate governance and society. Goodcorporative governance boosts the public’s acceptance and assurance in its corporateleaders. The legislative procedures are formulated to protect society members fromthreats and prevent inconveniences from recurring. Environment, social and governanceare the issues that have recently increased in focus boosting the corporation’sresponsibility and liability to their stakeholders. Many corporations have increasinglyimproved their corporate governance practices to boost their relationships with theirstakeholders.Thriving and prosperity are the basic motives that drive the attention ofcorporations towards sustainability. Corporations that acknowledge the effects of theiractivities on the environment develop an instinctive sense of accountability to the societyits borders. Since sustainability takes into account a firm’s bother to the future, thecorporation’s best interest should oversee social responsibility (Williamson and Driver2016). For instance, in the recent past, many people globally have gained interest toconserve the world’s natural resources. Business forms a significant section of the usersof natural resources, thus there is a good sense for them to operate in as green as thepossible environment. Many companies are therefore encouraging employees, society,and other stakeholders to reserve energy, minimize waste, cut production costs, andenhance environmental factors.5ManagementCritical thinking1. Choose an example of the industry from the real national and internationalmarkets and detail Porter’s five forces framework with a graphic presentation.Starbuck crop. Has successfully grown through effective management andaddressing the impacts of five forces in the coffee industry and the coffee productionenvironment. The corporation deals with the external factors that are, those outlined inthe Porter’s Five Forces model analysis. The model assists in evaluating the industry’senvironment through accessing relevant external factors that reveal the competitivelandscape. Competitive rivalry, the bargaining ability for the consumers, the bargainingpotential for the suppliers, risks of replacement products, and threats of new errant are thefundamental aspects the model offers for strategic management (Bruin, 2020). Theporters five forces model analysis enables the company to oversee and highlight some ofthe most crucial factors that the company needs for its strategic management. Thestrategic factors enable the company to fulfill its corporate mission and vision statements.Threat of newentrantsThreats ofsubstituteproducts andservices6Management2. According to Porter’s framework, what determines the level of competitiveintensity in your chosen industry?Starbucks Corp. faces a strong force of competition from the foodstuff and coffeeindustries. In Porter’s five forces model, competition is composed of the influences of thecompeting industries on each other and the organization’s environment. A large numberof firms, and low switching costs contribute to the company’s strong force ofcompetition. Consequently, a moderate variety of firms contribute to a moderate force ofcompetition.As the number of firms increases the level of competitive rivalry in the externalenvironment increases. The Starbuck corp. has numerous competitors of varied sizes.However, their population is moderate in terms of specialty and strategy. In the fiveforces model, the moderate variety of competition strengthens the company’s competitivestrength and customer retainment due to low switching costs that are affordable to thecustomers.3. Assess the threats of the new entrants, and substitute products/services for yourchosen industry.Starbuck corp. has strong experiences on threats of substitution. In the five forcesmodel, this threat involves the effect of substitute products and the macro environment.The elevated availability of substitutes, low switching expenses, and soaring affordabilityof substitute goods are the strong forces that threaten Starbuck corp. The coffee businesshas a high potential for substitute products that negatively affect the organization. For7Managementinstance, ready-to-drink beverages, vending machines, coffee supermarkets, and finedining hotels avail affordable substitute products.Additionally, the low switching costs of the substitute product from thecompetitors. Therefore, the customers prefer low-priced products that they can afford.Many of the substitute products in the market are less costly as compared to the productsattained from the company. The company faces moderate forces for the new entrants intothe market. Moderate cost of doing the business, moderate supply expenses, and theexpensive cost of brand propagation restrict excess entrants in the market. For instance,the cost of operating a small coffee industry is lower in re…
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