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.
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.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Please answer questions 1 and 2
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.
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