BUS 433 Entire Class Business Strategy

BUS 433 Entire Class Business Strategy

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BUS 433 Entire Class Business Strategy

Nature of Strategic Planning. In a 250-300 word post, answer the following questions: What is strategic planning? How does it differ from other forms of planning? Why is the strategic planning process important to entrepreneurs in starting a new venture? Respond to at least two of your classmates’ postings.

Strategic and Entrepreneurial Thinking. In a 250-300 word post, respond to the following: Provide a definition of entrepreneurial thinking. What role does entrepreneurial thinking play in strategic planning? Respond to at least two of your classmates’ postings.

Week One Quiz. Complete the quiz on the assigned readings for the week.

Internal Competencies. In planning, one component to explore is how an entrepreneurial organization’s internal competencies help to achieve a strategic advantage in the marketplace. In a 250-300 word response, answer the following: What steps/actions would an entrepreneur take to determine whether the entrepreneurial venture has the appropriate internal competencies to achieve competitive advantage? Respond to at least two of your classmates’ postings.

External Feedback. Select a company and in a 250-300 word response, identify what you believe are the company’s “listening posts” (key opportunities) for getting feedback from the external environment. Could the company expand its listening posts? How? Respond to at least two of your classmates’ postings.

Week Two Quiz. Complete the quiz on the assigned readings for the week.

New Opportunities. Most successful businesses are focused on existing markets and may not have the vision to spot new products and services. Respond to the following in a 250 -300 word post: Is this happening where you work? Does this lack of vision provide you an opportunity to develop an entrepreneurial venture? Respond to at least two of your classmates’ postings.

Expansion. Identify an entrepreneurial venture and in a 250-300 word response, answer the following questions: What circumstances might encourage the entrepreneur to enter into a new business area by acquisition? What different circumstances would encourage the same entrepreneur to merge with another company? Respond to at least two of your classmates’ postings.

Week Three Quiz. Complete the quiz on the assigned readings for the week.

Strategy Change. In a 2-3 page paper, identify an organization that has changed its strategy

(example: moving from differentiation to low cost) in the marketplace. Why do you think the company has

made its strategic change? How did it determine the appropriate time to make the change? What have been

the results? Use at least three references, two from ProQuest.

Process of Innovation. Respond to the following in a 250 -300 word post: Discuss the four main elements needed to bring an innovative idea to the marketplace. What are then some of the difficulties facing successful innovation? Respond to at least two of your classmates’ postings.

Global Expansions. In a 250-300 word post, answer the following questions: Are

there different ethical risks an entrepreneur faces if entering a market in a developed country as compared to a

market in an undeveloped country? Identify those ethical risks. What recommendations would you make to such an entrepreneur about ethical risks? Respond to at least two of your classmates’ postings.

Week Four Quiz. Complete the quiz on the assigned readings for the week.

Challenges to Industry Giants. In your lifetime, do you think companies such as Coke, McDonald’s, or Google will be overtaken by new, entrepreneurial companies? In a 200-250 word response, indicate why you selected your answer. Respond to at least two of your classmates’ postings.

Industry Change. Select an industry. In a 250-300 word response, describe the strategic turning points that caused change in the industry. Identify and describe how one company within the industry successfully reacted to the need for change. Respond to at least two of your classmates’ postings.

Focus of the Final Paper

Imagine that you are the entrepreneur who has created a successful new venture. The venture is posed to expand domestically and internationally. In a 6-8 page paper, excluding title and reference pages, address the following:

1. Identify what strategic leadership skills are needed for your entrepreneurial venture to take it to the next growth level. How will you evaluate the leaders in your venture to determine if they have the strategic leadership skills needed?

2. In planning to take the entrepreneurial venture to another country, identify the challenges/problems the venture may face. What guidelines will you provide for managers to deal with the challenges/problems?

3. What is the current level of entrepreneurial activities in the United States? Overall, is the climate for entrepreneurship improving or worsening? Your evaluation will determine whether strategic moves will be made to expand the venture domestically.

4. As you work on your strategic plan for expansion, what kind of expansion model will you use: internal venturing, acquisitions, mergers, etc? What were the circumstances that influenced your choice?