Identify a firm to study for this course-long project. The approach of selecting a
local firm can provide challenges regarding the appropriate collection of data. Even if a student works
at the firm, there are quite often proprietary limits on the data (especially financial and competitive
data) that these firms will allow to be used for such a project. Be sure the team checks with the local
firm on data availability.
National organizations and chains are too large for this project and the team would not have access
to interview key personnel (e.g., CEO, HR Director, etc.). In addition, large organizations would not
be willing to schedule interviews, provide data, or make their strategic plans public. A locally owned
franchise could work if they are willing to dedicate time and share information with the team. For
ideas, consider a local organization that:
manages/services other organizations,
rents tools, medical equipment, fish tanks (with fish!), flowering plants, etc.,
offers retail sales (e.g., food, garden supplies, clothes, sports equipment, etc.)
recycles metal, paper or plastic,
provides caring services (e.g., Runnin WJ Ranch, Watersprings Ranch, Goodwill, or the
Women’s Battered Shelter).
If all of the team members were in agreement, a religious organization could be selected.
Note that most competing organizations are sensitive to open interviews and sharing their long-term
plans. To avoid a disastrous project, the team should verify that the organization would be willing to
provide interviews with key personnel and be willing to discuss/develop their long-term plans with the
team. Be sensitive to the interviewee…it is considered rude to be writing while the interviewee is
answering questions and may be stressful for the interviewee. Perform the write-ups immediately
after the meeting while your thoughts are fresh. Recording the interview to share with team members
is helpful if the interviewee permits. Obviously, it is important to maintain good relations with the
organization, as a project termination in mid-semester would be a team’s disaster.
Ideally, all members would attend all interviews with the organization’s management, but realistically,
consider recording interviews to share with team members that cannot attend or use a
communications tool like Skype to include members in the interviews. Be sure that all team members
contribute, discuss, and plan the interviews before meeting with the organization’s management. A
lack of planning can be embarrassing and reduce the organization’s interest and support for the
team’s project.
Gathering Data and Identifying Elements to Support Developing a Strategic Plan
Once the firm is selected, it’s time for the students to start gathering information on the history of the
firm, its current top management team, and the primary business model for the firm. The team should
be collecting data/information to answer:
How does the firm make most of its money?
Does the organization have a board of directors?
o How many members?
o Are minorities appropriately represented?
o Do they have a statement of ethical values?
o How often do they meet?
Are recent annual reports available?
Do they have an organizational chart?
Do they have a mission statement?
The goal of this effort is basic familiarization with the firm and a check to be sure data sources are
forthcoming and reputable. Be sure to refer to the strategic planning template before interviews as
noting the required results can direct data gathering efforts.
As not all organizations publish their mission statement (and some organizations never develop one),
the team should plan on developing a new mission statement or consider updating the existing
mission statement (if appropriate) to meet the organization’s present principles, values, major goals,
etc.
Identify any longer-term challenges or goals that qualify as strategic intent. Document changes in
strategy over time. Try to identify the rationale for these changes in strategy. Were they the result of
intended strategies, emergent strategies, or a combination of the two?
Identify changes taking place in the macro environment that may affect the selected
organization. Apply the PESTEL framework to the selected organization. The PESTEL
Framework includes six types of important environmental influences: political, economic,
social, technological, environmental and legal. These factors should not be seen as
independent factors. Factors such as technological advances may probably affect the social
and economic conditions in different markets.
What does the five forces model reveal about the nature of competition for the organization?
Is there evidence that industry structure is reshaping competition, or has done so in recent
years?
Catalog the assets of the organization. Make a list of the tangible assets of the organization
and a second list identifying intangible assets. Use the VIRO framework to identity the
competitive position of the organization. The VRIO framework is the tool used to analyze
firm’s internal resources and capabilities to find out if they can be a source of sustained
competitive advantage.
Identify the core competencies that maintain the organization’s competitive advantage. By
definition, core competencies are usually number less than three.
Perform a SWOT analysis for the organization.
Identify the rationale for the organization’s successes and setbacks. Support your assumption
with quantitative and qualitative success factors.
Does the organization focus on economic, accounting, or shareholder perspective of its
competitive advantage?
If the organization has differentiated products or services, identify the basis for this
differentiation from the competition.
If the organization has a cost-leadership position, identify which cost drivers it uses effectively
to hold this position.
If the organization segments the market, identify the scope of competition it is using.
Considering your organization’s competitive situation, identify the positive and negative factors.
What factors has the team discovered to improve the organization’s strategy and strategic
position
Where is your organization positioned in the industry lifecycle and consumer adoption
categories?
What is the dominate technological design of the industry in which the organization is primarily
located?
How quickly did this technology develop and what influenced the speed of diffusion?
From a marketing perspective, what attributes describe the current major customer segment
for the organization?
If intellectual property rights are an issue for your organization, what strategies have been
implemented to protect its proprietary position and do they need to be updated?
If the organization is highly vertically integrated, identify any of the vertical chain operations
that are off-shored.
If the organization has participated in a merger or acquisition in the last five years, did it result
in a consolidation of competitors?
Has the organization formed a strategic alliance with another organization within the last 3
years?
If your organization is engaged in international business, describe the issues related to culture,
marketing, finance, transportation, geographic challenges, and economic conditions.
Sample Solution
