BUS353 Project Management- the second-best strategy

BUS353 Project Management- the second-best strategy

Task:

Part 1: Ansoff Matrix

This part uses the knowledge gained in the previous two parts to suggest a new business strategy for your chosen company based in application of risk analysis and the Ansoff Matrix. Use the excel spreadsheet available on the LMS to work through the below steps. The completed excel spreadsheet must be uploaded to the team discussion forum in addition to the written part (steps 4 and 5).

Steps 4 and 5 are what contribute to the word count and are what should be included in your compiled project.
Steps:

1. Conduct a risk analysis to gain a better understanding of the dangers associated with each strategy (market development, market  enetration, product development, and diversification)

a. Identify at least 3 threats (events) for each strategy

b. Estimate the probability (as a percent) of the event occurring, and then multiply this by the amount it could cost to set things right if it happens.

c. Consider whether the risk can be managed by answering the listed questions Write a summary of your chosen strategy, detailing the what, how, when, where, and why.

Briefly explain the second-best strategy, and why it was not chosen instead. Below are some questions to help you prepare the above:

1. What type of corporate governance does the firm utilize? (e.g. Agency relationships, ownership concentration, membership of board of directors (insiders, related outsiders, outsiders)

 
2. What type of structure does the firm employ? (e.g. Simple structure, functional structure, multi-division structure, matrix, another… )

3. Identify the controls that motivate the management team and employees to become active in the company’s turnaround.

4. A proper match between strategy and structure can lead to a competitive advantage. Do you consider that strategy and structure match to create a competitive advantage?

5. Analyse and describe how your firm has changed during the time in terms of structure and strategy.

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