Challenged Q 1 – Case Study Example
1) The strategic objectives of firms to maintain competitive advantage are often spelt out in the form of corporate mission and vision ments. This practice of publishing the corporate statements ensures that companies keep reminding themselves and the stakeholders about the purpose for their existence as well as the bottom line objectives.
2) As outlined above, the purpose of mission and vision statements is to ensure that the firm and its employees are focused on the big picture objectives and in the hope that the employees would relate it to their work that they are doing.
3) An emergent strategy is the result of spontaneous decisions as well as well thought out strategies. Ad Hoc rationalization on the other hand is about past decisions. An emergent strategy is usually forward looking when compared with the ad hoc rationalization of past decisions.
4) The external analysis should come first as it forms the basis for a firm to explore its environment fully and consistently. Internal analysis is about whether the firm can scale up to the external challenges given its resources, abilities and strategies.
5) All the firms mentioned in the question are likely to go out of business though it is not a necessary condition since there can be a turnaround in the way the firm conducts its business and a reversal of fortunes in its profit making abilities.
6) The possibilities mentioned in the question are indeed true and possible as can be seen from the SWOT analyses of companies that display both strengths and weaknesses at the same time. Further, two companies in the same industry can also display competitive advantage since their strategies as well as strengths might be different in their approach to their business.