As you analyze your assigned company, you should understand how competitive forces shape corporate strategy. A typical way for an organization to strategically analyze these factors is to conduct a five forces analysis of their organization. Corporate leadership can use this tool, to successfully analyze and identify a clear sense of the organization’s strategic vision. This focus is important because of the requirement for improved business understanding in a rapidly changing global environment. Some of the main strategic management questions asked are, where is the organization now, and where will the organization be 1, 3, 5, or even 10 years from now? Moreover, where will the organization be if no business changes are made? While looking at these questions, leadership must not only take action (especially if the answers are unacceptable), but also weigh the risks and payoffs. Smaller businesses may engage in strategic management to ensure that they adapt to trends and external changes such as globalization.
By definition, strategic management is a process in which an organization develops and implements plans that promote the goals and objectives of that particular organization. The overall process of strategic management is continuous, and it changes as the organizational goals and objectives evolve. The strategic management process begins when executives evaluate their current position with respect to the company’s mission, goals, and strategies. Managers then scan the organization’s internal and external environments and identify strategic issues that may require change. Internal or external events may indicate a need to redefine the mission or goals or to formulate a new strategy at the corporate, business, or functional level. The final stage in the strategic management process is execution of the new strategy. It is now time to take an analytical look at the forces and structure that shape effective strategic decision-making.
For this Assignment, you will complete the following:
Conduct a detailed Five Forces analysis for your assigned company. Your analysis should be thorough, incorporate scholarly research, and cover:
Corporate Threats of New Entrants
Corporate Threat of Substitutes
Supplier Power
Buyer Power
And, Competitive Rivalry
Your deliverables include:
A 3 page written analysis; APA formatted MS Word document.
Written evaluation for each force highlighted above. Justification should be supported by scholarly evidence (i.e. – peer-reviewed journal articles; 10K report, etc.).
Resources:
10K report At- https://fintel.io/doc/sec-z-zillow-group-inc-class-c-10k-annual-report-2020-february-19-18313
McKinsey Quarterly https://www.mckinseyquarterly.com/home.aspx
Harvard Business Review (0017-8012)
HBS Working Knowledge
New York Times
Wall Street Journal
The Economist