Business Strategy and innovation for competitive advantage

QuestionDDBA 8161: Business Strategy and innovation for competitive advantage

Assignment: Foundations
of Strategic Planning
The foundations of strategic planning include a diverse
group of theories, models, and real-world application
opportunities. One of the most crucial skills for a strategic
planning professional is knowing not only how to
implement a plan, but why it is necessary. Part of this skill
can also involve business professionals taking into
account potential strategic planning considerations like
benefits, challenges, and possible reasons not to use it at
all.
To prepare for this Assignment, consider the need for
and importance of strategic planning in an organization.
Further, consider any potential ramifications of strategic
planning, including both minor and major organizational
changes. Be sure to consider your experience as a
business practitioner and independent scholar in
developing your perspective. By Day 7


• Submit a 3- to 5-page evaluation of the benefits and
challenges of implementing strategic planning within an
organization. Your evaluation should include the following:
What are the steps of the strategic planning cycle? Be
sure to include a condensed description of the value of
each step to a professional organization.
What are the long-term business benefits of strategic
planning?
What are the unique hurdles that companies need to be
aware of when implementing the foundations of strategic
planning? Explain with specific examples from scholarly
sources. • Based on your research and/or personal experience,
would there ever be a reason why an organization would
benefit from not utilizing strategic planning? Provide a
rationale for your answer with specific examples from
scholarly sources. Required Readings


• • Dyer, J. H., Godfrey, P., Jensen, R., & Bryce, D. (2016).
Strategic management: Concepts and tools for creating
real world strategy. Hoboken, NJ: John Wiley & Sons.
Chapter 1: “What Is Business Strategy?” (pp. 2–19)
Chapter 2: “Analysis of the External Environment:
Opportunities and Threats” (pp. 20–45)
Case 01: “Walmart Stores: Gaining and Sustaining
Competitive Advantage” (pp. C-2–C-11)
Ali Mahdi, H. A., Abbas, M., Mazar, T. I., & George, S.
(2015). A comparative analysis of strategies and business
models of Nike, Inc. and Adidas Group with special
reference to competitive advantage in the context of a
dynamic and competitive environment. International
Journal of Business Management & Economic Research,
6(3), 167–177. Retrieved from http://www.ijbmer.com/
Note: Retrieved from the Walden Library databases.
Bereznoi, A. (2014). Business model innovation in
corporate competitive strategy. Problems of Economic
Transition, 57(8), 14–33.
doi:10.1080/10611991.2014.1042313
Note: Retrieved from the Walden Library databases.
Walden University. (2015). APA course paper template
(6th ed.). Retrieved from
http://academicguides.waldenu.edu/ld.php?
content_id=7980596

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