must be completed in APA format and use 4 scholarly sources
Consider the brief description of Target’s stakeholder relationships and combine that information with your experience shopping in a Target store. How might Targets stakeholders (in a particular employees, customers, local communities, and suppliers) influence the manager’s decisions about building competitive advantage in the analysis stage of the AFI framework? How might Target gather information from its stakeholders in order to inspire a better customer experience in the formulation stage in order to differentiate? Or in order to lower costs? Brainstorm by jotting down as many ideas as you can think of) about how key stakeholders may affect (or be affected by) the implementation stage.
BP’s experience in the Gulf of Mexico has made it the poster company for how not to manage stakeholder relationships effectively (See Strategy Highlight 1.2) What advice would you give to BP’s managers in order to help them continue to rebuild stakeholder relationships in the Gulf Region? Brainstorm ways that top management might leverage the experience gained by reacting in the Gulf and use that knowledge to motivate local managers and employees in other locales to build stakeholders relationships proactively so that avoids this type of negative publicly.
As noted in the chapter, research found that firm effects are more important than industry effects. What does this mean? Can you think of situations where this might not be true?
Identify an industry that is undergoing intense competition or is being featured in the business press. Discuss how scenario planning might be used by competitors to prepare for future events. Can some industries benefit more than others from this type of process? Explain Why?
Why is it important for an organization to study and understand its external environment? Make sure you understand that the factors of the external environment are also referred to as the demand shifters.)
How do the five completive forces in Porters Model affect the average profitability of the industry? For example in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits? Identify an industry in which many of the competitors seem to be having financial problems. Which of the five forces seems to be strongest? Make sure to discuss each of the 5 forces.