View the Video: ‘The Duck and the Lemonade Stand’ at

http://www.youtube.com/watch?v=WmH2J9-50Gc

Answer the following Assignment Question:

“ Better a consistently applied mediocre strategy, than a series of ad hoc brilliant strategies.”

In other words:

A mediocre strategy well executed is better than a great strategy poorly executed.

•   Do you agree with this statement?
•   Discuss having regard to ‘The Duck and the Lemonade Stand’ as a basis for your argument.
•   Theoretical concepts must also be included as part of your answer.
•   Duck Reference: http://www.youtube.com/watch?v=WmH2J9-50Gc

Some suggestions on how to answer this question (this list is not exhaustive).

•   Your answer must be based in the theory and concepts taught in this course.
•   As a minimum research requirement, the subject text book and required readings

must be referenced as part of your research effort to answer this question.

• Identify the different groups
• What does the landscape look like?
• How does competition shape your strategy?
  • Organisational competitiveness: Long term vs short term
• Examine the internal and external environment
  • Successful strategy formulation requires the consideration of both environments.
  • Why and How we do this?

Abell’s Framework for Defining the Business.

• What are the current customer groups/Segments that we are serving?
• What needs are we meeting for these customers?
• What features or uses of our products are fulfilling these needs?
• Are there new customer groups with similar needs that are not being served?
• Can there be other uses of the product to fulfil other needs?
• Are there other technologies that need to be utilised to serve the needs of existing customers?

•   Theoretical concepts must also be included as part of your answer:

1. By studying the external environment, organisations identify what they might choose to do?
2. By studying the internal environment, organisations identify what they can do?
3. The Industry Organisation (I/O) Model
   of Above-Average Returns.
4. The Five Forces Model:

• Industry Profitability.
• An industry’s profitability results from interaction among.

1. The Resource-Based Model
   of Above-Average Returns.

-Resources.

-Capability.

-Core competence.

1. The Vision.
2. The Mission.
3. Values.
4. Defining the Game:

• The Strategic Environment
• Who are the players?
  • The Decision Makers
    • What strategies are available?
  • The Feasible Actions
    • What are the payoffs?
  • The Objectives

1. Scenario Planning
2. Business & Scenarios.
3. Blue Ocean Strategy.

Some additional points to consider

•  Your answer must be based in the theory and concepts taught in this subject. (which are written above).
•  Discuss this question with reference to at least four theoretical perspectives.
•  As a minimum research requirement, the subject text book and required readings must be referenced as part of your research effort to answer this question.
•  The word limit for the assignment is 3,000 words per student candidate not include references (you must use minimum 35 references).
  You may also discuss this question with reference to other organisational examples if these will add gravitas to your argument.

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