REQUIRED: 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
You know that your team will be traveling to all of the different divisions of the corporation to assist in that division’s strategic planning. You want to impress on the group of strategic planners the importance of the concept of competitive advantage, and why it is important to conduct an industry analysis. For this week’s meeting, you told your team that they should be prepared to discuss an industry analysis of the digital music distribution industry and competitive advantage. Complete the following:
- Identify the major competitors in the digital music distribution industry, and describe their sources of competitive advantage.
- Discuss at least 3 current issues that this industry faces (they could be favorable or unfavorable to the industry).
- Which of the major competitors has the strongest competitive advantage and ability to overcome the barriers presented by the current issues identified, and why
You have just been hired to the BY company as its new Vice President of Strategic Planning. The corporation is a conglomerate with divisions in the film industry, theme park industry, digital music distribution industry, and mass merchandiser industry. The corporation has seen lackluster performance in recent years because its competitors seem to have a more effective strategy, and, at the same time, business and economic conditions have changed appreciably from what they were five years earlier.
Given the multi billion dollar size of the corporation and the fact that it is a conglomerate with a very diverse portfolio of companies in varying industries, the CEO whom you report to has already given you permission to hire a staff of recent Mb As to assist your efforts. You recently completed the interviewing and hired four people with minimal real business experience.
In coming months, you and your team will be creating a completely new—and, presumably, more effective—strategic plan. You plan to begin by holding a kick-off meeting with your team.
Deliverable Length: 1,000–1,250 words
To feel confident that all of the employees in your strategic planning team understand all that you have taught them, you require each to prepare a streamlined version of the key elements of a strategic plan. You require each employee to prepare the following sections of a strategic plan for any one of the corporation’s four divisions:
- Mission and Vision statements (simply copying from an existing real company is unacceptable)
- SMART Goals and Objectives
- Industry analysis
- SWOT analysis
- A perceptual map
o Choose any criteria that you think are important to plot.
o Explain why you picked the criteria.
The 4 corporate industries that each employee can pick from are the following:
- Film industry
- Theme park industry
- Mass merchandiser industry
- Digital music distributor industry
Your task is to create a plan, following the same parameters, that will be the sample standard your employees’ submission should match.