Posted: July 23rd, 2016

What types of opportunities and threats would be present within each of the dimensions of the general environment?

Q3
Class review the Week 2 lecture and the SWOT Analysis interactive exercise; located within the lecture under the SWOT Factors heading.

After reviewing these items, let s discuss the elements of a SWOT analysis. Assume you work for a family owned restaurant, what are some of the typical strengths and weaknesses of a small family owned restaurant? What types of opportunities and threats would be present within each of the dimensions of the general environment?
Q4
Class managers are proactive? They make change happen instead of reacting to change. The future requires corporate leadership with the skills to integrate many unexpected and seemingly diverse events into its planning. Every organization must plan for change in order to reach its ultimate goal. Effective planning helps an organization adapt to change by identifying opportunities and avoiding problems. It sets the direction for the other functions of management and for teamwork. Planning improves decision making. All levels of management engage in planning. Strategic planning produces fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it. It requires broad scale information gathering, an exploration of alternatives, and an emphasis on the future implications of present decisions. Top level managers engage chiefly in strategic planning or long range planning. They answer such questions as What is the purpose of this organization? What does this organization have to do in the future to remain competitive? Top level managers clarify the mission of the organization and set its goals. The output needed by top management for long range planning is summary reports about finances, operations, and the external environment. Operational Objectives are specific measurable results to be accomplished within the timespan of the operational plan. Action Plans are specific actions required to accomplish each operational objective including a timetable, resource requirements and accountability.
Q5
Organizations strive to create organizational strengths that are distinctive competencies. What is a distinctive competence? Describe the relationship between a distinctive competency, a competitive advantage, and a sustained competitive advantage. Give an example for at least one of these in your response.