4 discussions-bmgt 495

RESPOND TO EACH STUDENT AND WRITE 75 WORDS FOR EACH FOLLOW UP RESPONSE

• Use the appropriate APA formatted scholarly reference sources and corresponding in-text citations in all your postings.

• MUST USE A DIFFERENT SOURCE PER STUDENT RESPONSE

Learning Activity 1

External Factor Evaluation (EFE) Matrix allows strategists to summarize and evaluate economic social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information. (David, 2005, p.101)

Requirement 1: Select one (1) focal company out of the following industries:

1. A hospital chain, (2) A seafood processing company (3) A die-cast toy manufacturing company, (4) A hunting  accessory manufacturing company, and (5) A carpet manufacturing company

Requirement 2: Discuss briefly some relevant background information about that company and its industry in regards to its external environment.

Requirement 3: Determine at least 3 external factors as “opportunities”, and 3 other external factors as “threats”.

Requirement 4: Compile an External Factor Evaluation (EFE) Matrix (with specific internal factors, weights, scores, and weighted scores) as an analytic tool for technically evaluating the focal company.

EFE (External Factor Evaluation) Matrix

Requirement 5:

1. Why did you choose those opportunities and threats?

(Please keep in mind you need to discuss at least 3 supporting reasons for each of these respective factors.)

1. What do the respective weighted EFE scores mean for that organization from a strategic planning viewpoint?

2. What are some strategic implications by interring based on the total weighted scores that are derived from the EFE matrix respectively?

• Support the rationale for your explanation.

• Use the appropriate APA formatted scholarly reference sources and corresponding in-text citations in all your postings.

• Student 1: Cory Moultrie

• The company I am using from week 3’s activity, is BowTech, Inc. and the generic strategy that I am suggesting for the organization, is the differentiation strategy.

BowTech, Inc. is a large, industry leader, that commands significant market share in the archery industry. This industry houses many organizations that offer an even greater number of products, but these products are not heavily differentiated between the different organizations. Many organizations have positioned their products into different price points, as a way of expanding their target markets. In addition, the number of hunters is rapidly diminishing, due to a dwindling hunter’s mentality, stricter laws, and shrinking habitats. Where the industry has found its savior, is in competitive archery. Moving from a lifestyle to a sport, has spurred industry growth over the last decade.

The reason behind my suggestion for BowTech to pursue the differentiation strategy, is because it is known for its high-quality products. By differentiating its products, BowTech’s strong and reliable brand, will assure that consumers continue to purchase from the organization. For example, if BowTech was to capitalize on the opportunity of purchasing a large plot of land for hunting, this would be a unique service within the industry, that is valued by buyers; this uniqueness may then be rewarded with a premium price (Porter’s Generic Competitive Strategies (ways of competing), n.d., para. 3).

While Bowtech is also positioned for a cost leadership approach as well, this would ultimately devalue the brand, hurting its reputation while not actually increasing sales. Differentiation is ultimately the best option for growing the Bowtech brand.

REFERENCE

Porter’s Generic Competitive Strategies (ways of competing) (n.d.). Retrieved from http://www.ifm.eng.cam.ac.uk/research/dstools/porters-generic-competitive-strategies/

• Student 2: Michael Timms

North Pacific Seafoods is the second largest commercial fishing company in the United States, t operates five shore facilities and 1,200 employees. (North Pacific Seafoods, 2017) North Pacific Seafoods is not a publicly traded company so financial details are hard to acquire. What is known is that the company had $326 million last year. (Hoovers, 2017) The company catches, processes and sales 10 different types of fish and imports additional fish as requested. (North Pacific Seafoods, 2017) A generic business strategy is based off of cost and how it is differentiator. (Slayor, 2014) The company catches and acquires a wide range of fish which enables year round operations. The company is a complete operate controlling the entire supply chain from sea to table. Based off of that information North Pacific Seafood is able to keep cost down. The smallest package of salmon is 50 pounds and the largest is 1250 pounds. This means that the company sells from restaurants up to large retailers and food companies. The company can maintain a low cost. The company also services a wide market range. This would make North Pacific Seafood a cost leadership strategy. This is a good strategy for North Pacific Seafoods. In trying to increase their profit margin by raising the price of product could be harmful to the company. If the product sat on the dock because of sticker shock sales would not be enough to sustain operations. The Company is now too large to try and specialize as there is a high level of legislation and over sight in the fishing industry. As populations continue to grow the need to feed them will continue to grow. This seems to be a sustainable strategy for the foreseeable future.    

Reference

North Pacific Seafoods. 2017, North Pacific Seafoods Retrieved 2017 from http://northpacificseafoods.com/content/section/14/59/

Hoovers 2017, Hoovers Retrieved 2017 from http://subscriber.hoovers.com.ezproxy.umuc.edu/H/industry360/trendsAndOpportunities.html?industryId=1839

The Slayor Foundation, 2014. Mastering Strategic Management, Retrieved 2017, from  /learn.umuc.edu/d2l/le/content/224203/fullscreen/9369983/View