MGMT3031- Group Assessment (40%) Units 4 to 6 Due: June30, 2024, no later than 11:59 PM EC/ 10:59 PM JA Scenario Referencing the scenario provided in Assessment 1, and following the guidance provided by the Strategic consultant, Maria and her team are now prepared to proceed with finalizing their business plan to launch their company. Considering how competitive the business sector is today, it is important that they are aware of their alternative organizational strategies. It is also important that they understand how to develop a sustainable competitive advantage, so as to remain financially viable. The group is considering utilizing the strategy formulation framework to aid in developing the company and its products. Further to discussion with the Strategic Consultant, Maria is aware that there are certain habits that strategic leaders must encompass but is not sure what they are. For this assessment, your group is to assume the role of Maria and her team. In doing so, you are expected to complete the following: You are required to prepare a business implementation plan for your proposed business to include the following: 1. Introduction a) Provide an appropriate name for the company and a brief background. You are required to include the business concept and give justification for the profitability of this venture in the current market or economy. • Emphasize the unique selling points of the business. 。 Identify the products and services that the company intends to offer, to include the target market. b) State the strategic vision and mission for the business. 2. Financial and Strategic Objectives Compose three financial objectives and three strategic objectives for the business. 3. Organizational Strategy a) Based on the categories of alternative organizational strategies discussed in the course, you are required to do the following: Select one appropriate category. Identify one strategy from the selected category which you plan to pursue to ensure success applicable to the scenario presented. • Explain how the product or service you are offering would be implemented through this category. b) Given the product or service which your business proposes to offer, assess the three stages of the strategy-formulation framework, discussed in the course. For each stage, include one (1) tool in your assessment. 4. Human Resource Strategy a) As discussed in the course, identify, and discuss three habits strategic leaders must encompass with reference to the business venture, and success of the product or service offered. 5. Sustainable Competitive Advantage a) Suggest, three ways, as discussed in the course that your team can attain a sustainable competitive advantage in the local market. Give rationales for your answer. PROJECT GUIDELINES: