Instructions
How Competitive Forces Shape Strategy.html
Porter’s Generic Strategies for Success in a Competitive Environment
Assignment
Step 1
Read the articles linked above. You will find two articles relating to Michael Porter’s Strategic Management and Marketing research. You will then read the BCG information on the Most Innovative Companies (2021). Your assignment this week is to look at the dynamic interaction between strategic management decisions, the identification of marketing strategic advantages, and the use of innovation as a path to success.
Step 2
Select a company off the BCG Top Ten to be the focus of the assignment … options include Disney, Tesla, Netflix, Amazon, Facebook, and more. These companies have all found unique positions in the marketplace to not only be successfully launched, but they have ultimately dominated their markets. You should pull 3-5 articles on this organization and brush up on their history, market opportunities, and unique factors that has positioned them to pursue a path of innovation.
Step 3
You should first review your organization with regard to Porter’s Generic Strategies. These strategies are referred to as generic because they can literally apply to any organization that is for profit/not for profit, multinational or small entrepreneurial firm, or a goods or services deliverer. http://www.quickmba.com/strategy/generic.shtml
Discuss what approach your organization has taken in identifying an effective strategy based upon Porter’s Generic Strategies. Was this the best strategy for the organization?
Step 4
Examine your selected company from the perspective of Porter’s Five Forces in its industry analyze the effectiveness and success of their chosen strategies in light of these five forces. https://www.business-to-you.com/porters-five-forces/ Which of these factors are more and less significant to the formation of a competitive position in the market?
Determine the significance of each factor for your selected firm and provide a diagram like shown in this image. https://images.app.goo.gl/txyi6bACn3TRd5ja8
You should include the drawing and indicate the level competitive force of each factor for your firm.
Step 5
In reviewing Porter’s work at the generic and competitive levels, discuss the successes your organization has had in the marketplace, and how they have used marketing to build a successful legacy in the market-place. Discuss if this course of action appears to be the best path moving forward in the post-covid-19 environment or is a modification necessary to continue to lead their industry (from a marketing or management perspective)?
Housekeeping
Add references, charts or diagrams may be included, You will need three unique citations to support your discussion.
