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 type of strategy (based on what was discussed in the course) that Maria needs to adopt. 2. Strategic Drivers a. Identify and discuss one (1) internal and one (1) external driver, (as discussed in the course) which Maria should consider as part of her strategic planning exercise relative to the case presented. 3. Structure Type a. Recommend with justification an appropriate structure (from the structure types discussed in the course) for Maria's business. Illustrate the structure graphically. b. Identify one (1) limitation of this structure, whilst suggesting one (1) way to mitigate it. 4. Strategic Alliance a. Identify and discuss one (1) type of alliance, (from those discussed in the course) based on the scenario presented, with the use of a company locally, to improve her chances of succeeding in the market. The name of the company must be clearly stated. 5. Internal and External Environment. a. Understanding how an organization operates internally is critical for sustainability and success. Using one (1) internal organizational assessment tool (as discussed in the course) complete a thorough analysis of Maria's operations. b. To help Maria understand how changes in the macro-environment may affect her business, select one (1) external assessment tool and complete a thorough analysis of the local external environment
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 type of strategy (based on what was discussed in the course) that Maria needs to adopt. 2. Strategic Drivers a. Identify and discuss one (1) internal and one (1) external driver, (as discussed in the course) which Maria should consider as part of her strategic planning exercise relative to the case presented. 3. Structure Type a. Recommend with justification an appropriate structure (from the structure types discussed in the course) for Maria's business. Illustrate the structure graphically. b. Identify one (1) limitation of this structure, whilst suggesting one (1) way to mitigate it. 4. Strategic Alliance a. Identify and discuss one (1) type of alliance, (from those discussed in the course) based on the scenario presented, with the use of a company locally, to improve her chances of succeeding in the market. The name of the company must be clearly stated. 5. Internal and External Environment. a. Understanding how an organization operates internally is critical for sustainability and success. Using one (1) internal organizational assessment tool (as discussed in the course) complete a thorough analysis of Maria's operations. b. To help Maria understand how changes in the macro-environment may affect her business, select one (1) external assessment tool and complete a thorough analysis of the local external environment
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Strategic type - deliberate
Strategic drivers - mission and vision & customer needs
Structure type- functional
Internal and external environment- swot and pestel
Please let me know if these answer are correct and if you can expound on each with scholarly sources please
Transcribed Image Text: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 type of strategy (based on what was discussed in the course)
that Maria needs to adopt.
2. Strategic Drivers
a. Identify and discuss one (1) internal and one (1) external driver, (as discussed in
the course) which Maria should consider as part of her strategic planning exercise
relative to the case presented.
3. Structure Type
a. Recommend with justification an appropriate structure (from the structure types
discussed in the course) for Maria's business. Illustrate the structure graphically.
b. Identify one (1) limitation of this structure, whilst suggesting one (1) way to
mitigate it.
4. Strategic Alliance
a. Identify and discuss one (1) type of alliance, (from those discussed in the course)
based on the scenario presented, with the use of a company locally, to improve
her chances of succeeding in the market. The name of the company must be
clearly stated.
5. Internal and External Environment.
a. Understanding how an organization operates internally is critical for sustainability
and success. Using one (1) internal organizational assessment tool (as discussed
in the course) complete a thorough analysis of Maria's operations.
b. To help Maria understand how changes in the macro-environment may affect her
business, select one (1) external assessment tool and complete a thorough analysis
of the local external environment
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