Scenario:Maria is considering operating a local business in the beauty and cosmetology sector in the islandof Trinidad. She has completed research into the operations of similar businesses locally andintends to market and sell her products initially at the local level, with the possibility of extendingat the regional level in the near future. Maria understands that to shape the business’s overallstrategy there are various strategic drivers both internally and externally which must be consideredand wants expert advice on these drivers relevant to her business. She is also struggling withdeciding on the best structure for the organization, as well as the most effective ways of marketingher products to ensure that they are more attractive to buyers than the current options. She isconsidering a strategic alliance but is not sure if to form links among non-competitive firms orassociate with firms in an unrelated activity. Maria is aware of internal and external tools whichbusinesses use to understand the operating environment but is unsure which ones are feasible forher business or will provide the most relevant information. Whilst Maria has a lot of ideas, sherecognizes the need for help to ensure her success.As a Strategic Consultant, you are required to provide some guidance to Maria byresponding to the following questions:1. Strategy Typea. Identify and discuss the best type of strategy (listed below)that Maria needs to adopt. 2. Identify and discuss one (1 from below) internal drivers and one (1 from below) external driver, (listed below) which Maria should consider as part of her strategic planning exercise relative to the case presented. Internal Drivers Profits & Revenue Mission Vision Political Environment Ethics & Corporate Social Responsibility Corporate Culture external Drivers- Innovation Change Market Shifts & Creation Taxes & Regulations Customer Needs Technological Advancements Globalisation Competitors Intended Strategy Realised Strategy Emergent Strategy Non-realised strategy Deliberate Strategy

Scenario:Maria is considering operating a local business in the beauty and cosmetology sector in the islandof Trinidad. She has completed research into the operations of similar businesses locally andintends to market and sell her products initially at the local level, with the possibility of extendingat the regional level in the near future. Maria understands that to shape the business’s overallstrategy there are various strategic drivers both internally and externally which must be consideredand wants expert advice on these drivers relevant to her business. She is also struggling withdeciding on the best structure for the organization, as well as the most effective ways of marketingher products to ensure that they are more attractive to buyers than the current options. She isconsidering a strategic alliance but is not sure if to form links among non-competitive firms orassociate with firms in an unrelated activity. Maria is aware of internal and external tools whichbusinesses use to understand the operating environment but is unsure which ones are feasible forher business or will provide the most relevant information. Whilst Maria has a lot of ideas, sherecognizes the need for help to ensure her success.As a Strategic Consultant, you are required to provide some guidance to Maria byresponding to the following questions:1. Strategy Typea. Identify and discuss the best type of strategy (listed below)that Maria needs to adopt. 2. Identify and discuss one (1 from below) internal drivers and one (1 from below) external driver, (listed below) which Maria should consider as part of her strategic planning exercise relative to the case presented. Internal Drivers Profits & Revenue Mission Vision Political Environment Ethics & Corporate Social Responsibility Corporate Culture external Drivers- Innovation Change Market Shifts & Creation Taxes & Regulations Customer Needs Technological Advancements Globalisation Competitors Intended Strategy Realised Strategy Emergent Strategy Non-realised strategy Deliberate Strategy

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Related questions

Question

Scenario:
Maria is considering operating a local business in the beauty and cosmetology sector in the island
of Trinidad. She has completed research into the operations of similar businesses locally and
intends to market and sell her products initially at the local level, with the possibility of extending
at the regional level in the near future. Maria understands that to shape the business’s overall
strategy there are various strategic drivers both internally and externally which must be considered
and wants expert advice on these drivers relevant to her business. She is also struggling with
deciding on the best structure for the organization, as well as the most effective ways of marketing
her products to ensure that they are more attractive to buyers than the current options. She is
considering a strategic alliance but is not sure if to form links among non-competitive firms or
associate with firms in an unrelated activity. Maria is aware of internal and external tools which
businesses use to understand the operating environment but is unsure which ones are feasible for
her business or will provide the most relevant information. Whilst Maria has a lot of ideas, she
recognizes the need for help to ensure her success.
As a Strategic Consultant, you are required to provide some guidance to Maria by
responding to the following questions:
1. Strategy Type
a. Identify and discuss the best type of strategy (listed below)
that Maria needs to adopt.

Identify and discuss one (1 from below) internal drivers and one (1 from below) external driver, (listed below) which Maria should consider as part of her strategic planning exercise relative to the case presented.

Internal Drivers