Give your assessment of the relative costs of Type I and Type II errors in the following situations where a decision is pending: a. A new synthetic feed additive is….
Identify and outline analytical frameworks that could be used to systematically consider information on the company’s internal and external environment
The purpose of this assessment task is for students to individually:
1. Demonstrate research capabilities by locating useful information through an exploration of a range of corporate, institutional, and academic sources including specialised databases.
2. Demonstrate analytical capabilities using key unit frameworks to reveal significant issues that could inform strategy options.
3. Demonstrate synthesis capabilities by identifying and prioritising the company’s strategic opportunities and weaknesses that must be addressed.
The unit learning outcomes assessed are:
LO1. Identify and evaluate the impact of key environmental factors, including economic, social, technological, political, and environmental, on the strategic management context;
LO2. Critically review and apply the major models used in strategic analysis via a range of case studies;
LO4. Evaluate designated strategic management tools in order to recommend appropriate strategic responses to business problems;
This individual student assessment requires the preparation of an internal and external environmental analysis report for an assigned company which would be the same as what the student’s group has been assigned for the final assessment (Assessment 3).
Each student will be part of a Group which has been assigned to work on a particular company. Students must work on Assessment 2 by themselves and only after the submission deadline, share the results of this assessment task with the Group. This assessment would therefore allow each student to provide substantial information that would be useful in putting together a comprehensive strategic plan for the Group project (Assessment 3). The Group could then decide what parts among the shared Assessment 2 work of its members could be useful for their Assessment 3 report.
Instructions with sub-instructions
To get started on your assessment task, please follow the below instructions.
- Identify and outline analytical frameworks that could be used to systematically consider information on the company’s internal and external environment
- Locate useful information through a comprehensive research of a range of publications and databases accessible from the Library.
- Fill in analytical frameworks using the provided templates and rate the importance of identified factors.
- Determine and discuss the strategic implications emerging from the analysis of the company’s opportunities, threats, strengths, and weaknesses.
- Submit your report via the dropbox in VUC by the submission date.
N.B. You need to cite at least 4 academic journal sources from the unit or from your own journal.
The following levels of criteria will be used to grade this assessment task:
- Criterion 1: Breadth and depth of organisational and contextual research 20%
- Criterion 2: Effective use of analysis frameworks 30%
- Criterion 3: Sound and coherent analysis and discussion of strategic implications of identified environmental factors 30%
- Criterion 4: Appropriate academic writing conventions, presentation and Harvard referencing 20%