Review Chapter 5: Strategizing, Section 5.5: Developing Strategy Through External Analysis in Principles of Management. Read Acca Global: Thomas Wu’s “Strategic Choice: Johnson and Scholes Suitabilit

Review Chapter 5: Strategizing, Section 5.5: Developing Strategy Through External Analysis in Principles of Management.Read Acca Global: Thomas Wu’s “Strategic Choice: Johnson and Scholes Suitability, Feasibility, and Acceptability Model.” It is available from ACCA Hong Kong as an Adobe Acrobat file accessible here - learning_strategic_choice.pdf

Strategic Management

Part 1

Review the material in Chapter Five, Section 5.5 in Principles of Management v1.1  and “Strategic Choice: Johnson and Scholes Suitability, Feasibility, and Acceptability Model.”

Then, engage in a dialogue with your classmates by answering the following questions:

1. How do you use the Johnson & Scholes framework to determine the optimal strategy choice?

2. How do we know an organization has made the optimal choice? What financial metrics might help to evaluate an optimal choice?

3. Describe a time an organization did not make an optimal choice.  Using the Johnson & Scholes framework, how might the firm have improved its process?

Please answer in 200 words or more. Use your own words - please do not copy and paste from a website. Be sure to reference your sources.

Part 2

Pick any organization you are familiar with and perform a PEST analysis. From The Principles of Management reading this week, reflect on table 5.1 which has a list of key questions to help you develop a PEST analysis.

How would your answer change if there were (1) a sudden advancement in technology, (2) social unrest, and (3) enhanced economic stability? Being specific, how would you determine the optimal strategy for the organization?

Prepare a two page (double-spaced) essay. The paper should be 12-point font, Times New Roman, be at least 500 words, and include a final source list.

Part 3

Suppose you wanted to start a company where you live.  Which of the PEST factors would be the strongest?  How would you evaluate the optimal strategy?