BUS608: Ethical and Strategic Management

After you read this resource, you should be able to explain the importance of analyzing a competitive environment before developing a company strategy.

Earlier in this course, we addressed the markets companies compete within. At that time, we discussed the importance of understanding the type of market competition to create a better strategy. This resource will focus on the different strategies that can be used depending on market competition.

This video explains the steps you'll take to analyze your competition. Can you identify why this analysis is so important before developing your own company's strategy?

When looking at competitive strategies, a theory called Blue Ocean strategy addresses how to create value beyond looking only at your competition. Can you identify how innovation relates to a blue ocean strategy?

It can be difficult to find the best way to compete in hypercompetitive markets. In the framework discussed in this article, we address the initiatives a company can participate in to give temporary advantages to a firm.

There are other forces besides competition you should be concerned with before developing a strategy and implementing it. After you read, you will be able to name the other external considerations when creating your business strategy.

There are several trends influencing businesses today that could also affect your strategy. As you read this text, consider the trends that might influence your business' strategy.

Once you watch this video, you should be able to name the four main trends that could impact your strategic plan. Knowing these potential impacts will better prepare you to create your strategy.

The product life cycle and knowing where your products or services stand in each phase of the product lifecycle is useful information. Read this resource to understand how it can allow you to better align your strategic plan with your current offerings.

Once you develop your strategic plan, you will implement four planning elements to implement it. As you read this text, look for the four elements, and pay special attention to the time frame.

Although stakeholders can refer to anyone who cares about the success of a business, this resource will address internal stakeholders. Read this text on stakeholder management, which is an important concept, as you need to determine your internal stakeholders before taking the first step to strategy creation.

Before developing a strategy and creating an organizational design, do you know the internal elements you should be aware of? This text will address some of the employee-related factors to consider.

After you read, you will be able to name the internal conditions to consider and the value chain supporting activities necessary for strategy decisions.

After completing This text, you will know the types of tools available, such as VRIO, to determine your company's resources and capabilities.

Planning for resource usage is a key factor in understanding your company's capabilities and resources, and planning for how it will use them. As you read this text, look for reoccurring themes for companies who plan their resources effectively.

This page explains the terminology related to resource planning. Do resources always have to be tangible, or can they be intangible?

When developing a strategic plan, some companies may decide to focus on mergers and acquisitions. This chapter will explain the meaning of both terms and discuss factors to consider when choosing this type of strategy.

This video further addresses mergers and acquisition strategies. At the end of the video, you will be able to explain how mergers and acquisitions can be part of an overall strategic plan and the reasons for engaging in these types of business activities.

Some organizations may choose a global strategy. However, before doing so, it is important to know why a company chooses this option and the considerations they must make when going global. After you read, you should be able to pinpoint some of the reasons that make expanding globally an attractive option for some companies.

When a company decides to expand globally, it must choose an entry strategy. After watching this video, you will be able to explain the types of entry modes and their advantages and disadvantages.

As you read this case study, consider how international considerations are important for ethics and social responsibility. Review the critical thinking questions at the end and consider other companies that may have similar social responsibility strategies internationally.

As you read this case study, consider the response of Johnson & Johnson in this situation. Do you think it was appropriate? Could they have done more ethically to resolve the situation? Also, review the critical thinking questions at the end of the case and determine what your answers might be.

As you read this case study on Petrobras, consider the individual unethical actions and the organization's unethical actions. Consider how corruption and bribery can have negative effects on all stakeholders. Also, read the critical thinking questions and brainstorm answers.

Before creating the strategy, a company must have a clear picture of its vision and mission. As you read this resource, consider the purpose of mission and vision statements, and think about how that can tie into the overall business strategy.

This text will show you examples of company vision and mission statements. Can you identify the similarities and differences between each?

Read this resource to learn how mind-mapping a vision statement can be an effective tool for vision statement creation.

As you have learned, the main difference between a vision and a mission is that the vision focuses on broad aspects of why the company exists. In contrast, mission statements focus on how the company will accomplish the vision. As you read this section, look for overarching themes for making a good vision statement.

At this point in the unit, you should have a pretty good idea of how to write a vision statement and mission statement. As you read this article, be reminded why companies need strong and well-written mission and vision statements.

Watch this as you work through the unit and prepare to take the final exam.