THIS IS NOT A GRADED ASSIGNMENT. IT IS A SCENARIO TO PRACTICE AT HOME IN PREPARATION FOR FUTURE ASSIGNMENTS (In this scenario, you are Maria's strategic consultant. 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.) ******************************************************************************************************************* following the guidance provided by theStrategic consultant Act as if you are Maria's team, Maria and her team are now prepared to proceed with finalizing their businessplan to launch their company. Considering how competitive the business sector is today, it isimportant that they are aware of their alternative organizational strategies. It is also important thatthey understand how to develop a sustainable competitive advantage, so as to remain financiallyviable. The group is considering utilizing the strategy formulation framework to aid in developingthe company and its products. Further to discussion with the Strategic Consultant, Maria is awarethat there are certain habits that strategic leaders must encompass but is not sure what they are. identify, and discuss three habits strategic leaders mustencompass with reference to the business venture, and success of the product orservice offered.
THIS IS NOT A GRADED ASSIGNMENT. IT IS A SCENARIO TO PRACTICE AT HOME IN PREPARATION FOR FUTURE ASSIGNMENTS
(In this scenario, you are Maria's strategic consultant. 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.)
*******************************************************************************************************************
following the guidance provided by the
Strategic consultant Act as if you are Maria's team, 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.
identify, and discuss three habits strategic leaders must
encompass with reference to the business venture, and success of the product or
service offered.
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