Getting Started on Assignment 2

1
Getting Started on Assignment 2
2
Structure of Tute

• Objectives and purposes of Assignment 2
• What's the problem?
• Your first 2 meetings with the firm
• what to ask
• The external environment
• How to find out about it and
• How to present this in the report

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Objectives and Purposes

• Conduct a full strategic analysis of a firm
• What are the strategic issues for the firm?
• What business is the firm in?
• What business should the firm be in?
• What does the firm do well and what could be
  improved?
• What can the firm be used as a sustainable
  competitive advantage?
• Make recommendations for the firm
• How should the firm compete for success in the
  future?
• What is the best strategic direction for the
  firm?
• How would the firm be able to achieve that
  realistically?
• Learn how to gather, analyse and present the
  findings of secondary data to help achieve the
  prior objectives and therefore present a useful
  document

4
Whats the Problem?

• Ignore the term problem and think about issues
• Issues can be good or bad, positive or negative
• Ignore the word management and think about
  strategic
• Asking for management issues might help you
  better understand the symptoms so you can
  discover the real underlining issue, but they are
  only symptoms
• Learn the difference between a symptom and an
  issue
• First start with what the firm thinks is the real
  strategic issueask easy questions but dont
  dumbify questions
• Move on! The issue will become more clear later.
  At least you have a starting point for now.
• Present what you think you know in a cause-effect
  tree

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A cause effect tree
Apparent problem facing management
End effect 1
End effect 4
End effect 2
End effect 3
Effect 1
Effect 3
Effect 2
External cause 2
External cause 1
Cause 1
Cause 2
Major strategic issue
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The first 2 meetings - KISS

• First meeting
• Gain their confidence (dress appropriately)
• Expectations (time, information, resources,
  results)
• Walk in their shoes (dont wear their make-up)
• Business activities, culture, historical events
  etc
• Main issues (good and bad)
• Establish time for the next 3 meetings
• Second meeting
• If in a group have no more than 2 people go.
• Pre - preparation such as email questions etc
• PESTEL influences, major opportunities and
  threats
• Strengths weaknesses (identify core competency)
• Key markets - most profitable, largest sales etc
• Major competitor comparisons KSFs
• Catch up on anything missing from last meeting

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External Environment

• How to find out about it
• Political
• Economic
• Social / Cultural
• Technological
• Environmental (Natural)
• Legal
• Competitive

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External Environment

• How to present it in a report
• Reference everywhere.
• If it doesnt have a reference then why is it
  there?
• Analyse and dont describe.
• Some definitions
• show the essence of something by breaking it
  down into component parts, examining each part in
  detail and showing how the parts fit together
• The separation of a substance into its
  constituent elements to determine either their
  nature (qualitative analysis) or their
  proportions (quantitative analysis). The stated
  findings of such a separation or determination
• Another way to look at analysis is to identify
  major issues and findings, give implications for
  its existences and pre-empt the recommendations
  and conclusion so that a strong argument is
  developed
• In fact, we should look beyond analysis to
  critical analysis

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Continued

• Use appendices
• Incorrect to use appendices to save words
• Must provide more detail that would otherwise
  detract from the logical flow and development of
  argument.
• To be use for further informationif needed
• Clearly develop major opportunities and threats
• Help determine what business the firm should be
  in
• Better understand the major forces impacting the
  firm
• Aim to argue something not considered by the firm
• Predict trendsdont just state history or
  provide hypothetical situations
• Use secondary data as evidence for statements

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Questions?

• Next tute at L209 TODAY
• 4 to 5pm
• Cover strategic capability
• how to find out about it and
• how to write about it.
• Next weeks tute discuss the framework and
  analytical models that could be used more
  specifically