Description
Using Analytic Tools for Strategic Decision-Making, Articulate the current state of your chosen organization and its competitive environment.Use the SOAR analysis framework to identify opportunities and set results-oriented aspirations based on the strengths of your chosen organization. Formulate an innovative new product idea to develop competitive advantages for your chosen organization.Formulate a vision, mission, and values statement for your innovative new product idea that increases the competitive advantage of your chosen organization.Choose an appropriate strategic approach to support the vision for an innovative new product idea that increases the competitive advantage of your chosen organization.Design one strategic goal and three strategic objectives that drive the implementation of a strategy for a new idea that increases the competitive advantage of an organization.Produce a concise and persuasive pitch to convince the C-level executives of your chosen organization to fund the development of your innovative new product idea.
Word Count:Minimum 1000 words, Times in New romans, double spacing
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Lockheed Martin
Product: A sophisticated aerial sensor that can identify and monitor new dangers as
they emerge is one approach
Scenario:
You are the director of strategy and business intelligence for your chosen organization. You are
developing a strategic plan for your chosen organization for an upcoming meeting with the C-level
executives of your organization. They loved your idea for an innovative new product and would like
you to develop a strategic plan for further consideration. Use the following criteria to develop the
strategic plan for your innovative new product idea.
Assignment Requirements: In this assignment, you will develop a strategic plan for your chosen
organization. Address each of the following inquiries in your deliverable:
Product Offering Analysis
1. Articulate the current state of your chosen organization and its competitive environment.
1. In a business letter, articulate the strategic position of your chosen organization
within the industry in which it operates.
2. Provide a detailed overview of the product mix of your chosen organization.
3. Analyze the product mix of your chosen organization against its rivals.
Organizational Competencies
2. Use the SOAR analysis framework to identify opportunities and set results-oriented
aspirations based on the strengths of your chosen organization.
1. Analyze your chosen organization to identify a minimum of three strengths that may
result in competitive advantages.
2. Based on your chosen organization’s competitive advantages, determine a minimum
of three business expansion opportunities.
3. Develop a minimum of three aspirational product ideas that may result from
organizational expansion opportunities.
4. Explain any expected results from the successful implementation of each
aspirational product idea that you propose.
Innovative New Product Idea
3. Formulate an innovative new product idea to develop competitive advantages for your
chosen organization.
1. Introduce the innovative new product idea that you developed in the Unit 5
Assignment for your chosen organization.
2. Explain the problem or opportunity your innovative new product idea is intended to
solve.
3. Explain how your product is intended to meet customer expectations.
4. Explain the strategic direction of your innovative new product.
5. Develop and tell a story about your new product idea.
1. Explain how the branding and new product idea will impact and/or interact
with existing branding and product lines or items offered within the product
mix of organization.
Vision, Mission, & Values
4. Formulate a vision, mission, and values statement for your innovative new product idea that
increases the competitive advantage of your chosen organization.
1. Formulate a vision statement for your innovative new idea.
1. Explain how your vision statement increases the competitive advantage of
your chosen organization.
2. Explain how the mission statement for your chosen organization will support the
vision for your innovative new product idea that increases the competitive
advantage of your chosen organization.
1. Revise the mission statement of your chosen organization if necessary.
3. Explain how the values statement of an organization supports the vision for a new
idea that increases the competitive advantage of an organization.
1. Explain how the values statement of the organization supports the mission
statement of the organization.
2. Revise the values statement of your chosen organization if necessary.
Strategic Approach
5. Choose an appropriate strategic approach to support the vision for an innovative new
product idea that increases the competitive advantage of your chosen organization.
1. Analyze various strategic approaches that can lead to the development of
competitive advantages for an organization.
2. Choose one generic strategy to use in the launch of your innovative new product
idea that will result in competitive advantages for your chosen organization.
3. Explain how employing your chosen strategic approach can lead to the development
of competitive advantages for your chosen organization.
4. Explain whether implementing a strategic approach as a first mover, a fast follower,
or a late mover is most advantageous for your organization.
Strategic Goals, Objectives, & Initiatives
6. Design one strategic goal and three strategic objectives that drive the implementation of a
strategy for a new idea that increases the competitive advantage of an organization.
1. Identify critical success factors to ensure the success of organizational objectives.
2. Develop an objective that adheres to corporate social responsibility and
environmental sustainability standards while balancing these duties with economic
responsibilities to shareholders.
3. Develop innovative projects to drive the implementation of a strategy for a new idea
that increases the competitive advantage of an organization.
Strategic Alternatives & Contingencies
7. Identify strategic alternatives that may increase efficiency, and contingency plans to
mitigate risks.
1. Decide if an organization should consider outsourcing, mergers, or acquisitions to
increase its competitive advantage.
2. Develop a contingency plan to counter or mitigate risks and threats to a strategic
plan using the assumption-based planning technique.
Conclusive Remarks
8. Produce a concise and persuasive pitch to convince the C-level executives of your chosen
organization to fund the development of your innovative new product idea.
Word Count: Minimum 1000 words
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