Developing Business Strategy

Learning Outcome: Students will demonstrate analytical and critical thinking skills and demonstrate the ability to apply management theory to business case studies.Directions: Using our course textbook and the chapter lecture and notes for THIS class, apply what you have learned to answer the questions below. DO NOT Google your answers – I will be able to tell! The correct answers are based on content you have learned in THIS class. Type your answers either in the text box below or on a WORD document and upload your file. Include the questions with your answers. If you use a WORD file, save your file using your first initial, last name_case 1. For example, John Doe would save his file like this: jdoe_case 1.Consider a company like General Motors. Who is responsible for determining the overall direction of the company? To what level of management does that person belong? (5 points)Recall the skills that exceptional managers need. Which of the three skills is most critical for strategic planning? Explain. (5 points)Identify and define the five steps of the strategic management process. (10 points)1)2)3)4)5)Imagine you are the CEO of Noodle Soup, a company that sells ramen noodles. Explain each of the five primary competitive forces (Porter’s Five Forces) in Noodle Soup’s environment. (10 points)1)2)3)4)5)Consider Porter’s four competitive strategies. If Noodle Soup’s products are organic, gluten free, and sold only at places like Whole Food’s Market, describe the strategy that the company is likely using. (10 points) Noodle Soup thinks they have a unique and desirable product and wants to reach as many customers as possible. Describe the ways Noodle Soup can implement a growth strategy. (10 points) book used: Management: A Practical Introduction 9th Ed., Kinicki & Williams.

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