13 Jan Support the rationale

Week 2 learning activity

General instructions:

Research, apply and answer in your own words with appropriate reference(s) and in-text citation(s) to this week’s readings, videos, and/or examples from current events to support the position and/or rationale.

Label your responses specifically “Learning activity 1”, and “Learning activity 2”.

Write in 250 words at least for initial response due Thursday.

Write in 75 words for each follow-up response (at least 2 follow-up responses for each learning activity) due Sunday by expanding the discussion topic substantively and explore other possibilities and/or solutions, thereby enriching class learning.

Each week there are 2 learning activities. Each learning activity requires 1 initial response, and 2 follow-up postings. Hence, for 2 learning activities of each week, 2 separate initial responses and 4 follow-up postings in total are required to meet the discussion requirements.

In each of the weekly learning activities (that is, weekly discussion participation forum) in this course, learners are not allowed to use the same companies as those are instructed as the focal companies in the Assignment 1, Assignment 2, and Assignment 3 Phase 1 of this course.

Week 2 Learning Activity 1

In Chapter 3, we learned Michael Porter’s Five-Forces Model to evaluate competitiveness within the company’s industry. Porter’s five forces include: rivalry, new entrants, suppliers, and buyers. Harvard professor Michael Porter’s book “Competitive Strategy” propelled the concept of industry environment into the foreground of strategic thought and business planning. (Pearce & Robinson, 2000, p.84) Porter contends “The collective strength of these forces determines the ultimate profit potential in the industry, where profit potential is measured in terms of long-run return on invested capital”. (Wheelen & Hunger, 1998, p.60) The cornerstone of the book is an article from the Harvard Business Review in which Porter explains the five forces that shape competition in an industry. (Porter, 2012, Porter, 1996; The Five Competitive Forces, 1996)

The five forces are:

Rivalry among existing competitors

The bargaining power of suppliers

Threat of new entrants to the market

The bargaining power of buyers

Threat of substitute products/services

The pool of industries is listed below:

Food processing

Gardening accessory and equipment

Garment manufacturing

Steel manufacturing

Trucking industry

You are expected:

Select ONE of the industries from the above pool and identify a specific company in that industry.

Identify each of the key drivers (that is, the Porter’s five driving forces) of competition for that industry and specifically for the selected company based on the Porter’s Five Forces analysis. (That is, company-specific and industry-specific factors, not the conceptually “generic” factors).

Explain in details how the above-mentioned external competitive forces are affecting the business environment of the industry in general, and the selected company in particular on the overall strategic planning processes that are unique to that industry in general and that company in particular.

Support the rationale for your explanation.

Use the appropriate APA formatted scholarly reference source and corresponding in-text citations in all your postings.

References:

Pearce II, J.A. & Robinson Jr., R.B. (2000).Strategic management: Formulation, implementation and control 7th ed.). New York: McGraw-Hill/Irwin

Porter, M.E. (2015, November 5). What is strategy? Michael Porter explains common misunderstandings. [Video] Retrieved from https://www.youtube.com/watch?v=3Hd88eBgkw0

Guest speaker Michael Porter. What is strategy? (2012, November 13). [Video] University of North Carolina at Chapel Hill. Retrieved from https://www.youtube.com/watch?v=KvYwKM5bY0s

The five competitive forces that shape strategy (1996). [Video] Harvard Business Review. Retrieved from https://www.youtube.com/watch?v=mYF2_FBCvXw

Unknown (2014). Introduction to strategic management. Washington, D.C.: The Saylor Foundation.

Wheelen, T.L., & Hunger, J.D. (1998).Strategic management: and business policy: Entering 21st century global society. (6th ed.). New York: Addison-Wesley.

Week 2 Learning Activity 2

Utilizing the industry/company selected for Learning Activity #1 and your comments regarding the key drivers of competition based on Porter’s 5 Competitive Forces, you are expected:

Respond to the following questions:

What do you believe is a limitation to only evaluating those competitive forces for that selected industry/company?

What are some of the implications that are NOT considered when the strategic planners only utilize Porter’s 5 Competitive Forces?

How might you identify those additional external factors that had been previously excluded in your Learning Activity 1 when you applied only Porter’s 5 Competitive Forces?

Support the rationale for your explanation.

Use the appropriate APA formatted scholarly reference sources and corresponding in-text citations in all your postings.

References

Guest speaker Michael Porter: What is strategy? (2012, November 13). [Video] University of North Carolina at Chapel Hill. Retrieved from https://www.youtube.com/watch?v=Zq9-JT8moU4

The five competitive forces that shape strategy: An interview with Michael E. Porter, Professor Harvard University (1996). [Video] Harvard Business Publishing. Retrieved from