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QUESTION
Purpose
This project is the last of four projects. You will generate a pool of alternative strategies, evaluate these alternative strategies, and select the best strategy using the tools and concepts learned throughout the course. You will develop implementation plans, evaluative plans to control the implementation process, and plan for post-evaluation measures. You will also draw from previous business courses to understand how organizations develop and manage strategies to establish, safeguard, and sustain their position in a competitive market.
Skill Building
In this project, you build many different skills, including research, critical thinking, writing, and developing analytical skills related to various financial analysis tools and strategy tools used in business. In addition, you will select optimal strategies, design how to implement them, and evaluate the implementation process of the optimal strategies.
Outcomes Met With This Project
Examine the impact of ethical decision making, social responsibility, stakeholder analysis, and corporate governance on organizations and society;
Utilize a set of useful analytical skills, tools, and techniques for analyzing a company strategically;
Integrate ideas, concepts, and theories from previously taken functional courses including, accounting, finance, market, business, and human resource management;
Analyze and synthesize strengths, weaknesses, opportunities, and threats (SWOT) to generate, prioritize, and implement alternative strategies to revise a current plan or write a new plan and present a strategic plan;
Evaluate the outcomes of identified strategies to determine their success and impact on short-term and long-term objectives.
Instructions
Step 1 Course Material and Research
You must research information about the focal company and the environment for this project. You are accountable for using the course materials to support the ideas, reasoning, and conclusions made. Course material’s use goes beyond defining terms and explains the ‘why and how’ of a situation. Using one or two in-text citations from the course materials and then relying on Internet source material will not earn many points on the assignment. A variety of source material is expected, and what is presented must be relevant and applicable to the topic being discussed. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally, showing an understanding of the logical connections between the ideas presented from the research, the course material, and the question(s) being asked.
Note: Your report is based on the research results performed and not on any prepared documentation. What this means is that you will research and draw your own conclusions that are supported by the research and the course material rather than the use of any source material that puts together any of the tools or techniques whether from the Internet, for-pay websites, or any pre-prepared document, video or source material. A zero will be earned for not doing your own analysis.
Success: The analysis is based on research and not opinion. You are not making recommendations, and you will not attempt to position the focal company in a better or worse light than other companies within the industry merely because you are completing an analysis on this particular company. The analysis must be based on factual information. Any conclusions drawn have to be based on factual information rather than leaps of faith. To ensure success, as stated above, you are expected to use the course materials and research on the focal company’s global industry and the focal company. The opinion does not earn credit, nor does it use external sources when course materials can be used. It is necessary to provide explanations (the why and how) rather than making statements. Avoid stringing one citation after another, as doing so does not show detailed explanations.
Step 2 Research
In completing the report, you will use the chapters in the eBook as a guide and perform research on the same company as in Projects 1 and 2. Answer the required elements below in narrative form following the steps.
Note: Your report is based on the research results performed and not on any prepared documentation. What this means is that you will research and draw your own conclusions that are supported by the research and the course material rather than the use of any source material that puts together any of the tools or techniques whether from the Internet, for-pay websites, or any document, video or source material. A zero will be earned for not doing your own analysis.
Library Resources (Company Required)
Statista – All the information needed for your assigned company must be obtained from one of the library’s suggested online company research databases. To use these resources, go to the main navigation bar in the classroom, select Academic Support and then select Library. Next, select Databases by Title (A – Z). Since your primary online company research database is Statista, select S from the alphabet list, and scroll down to select Statista Online. See Dr. Kathy’s Notes for Week 2 for more guidance on Statista.
Dun and Bradstreet’s Hoovers Database, among others, is another excellent source for company research, competitor, and industry information.
You can find relevant and significant additional information required for company project research by using https://libguides.umgc.edu/business-research
Additional Library Resources
Research for Company Financial Ratios: Financial Research.
Research for Industry Financial Ratios: CSI Market.
Use “OneSearch” to find scholarly articles by clicking Library under Academic Support on the classroom main menu bar and checkmark “Scholarly Journals Only” prior to starting a search.
Library Support Personal Assistance
Extensive library resources and services are available online, 24 hours a day, seven days a week at https://www.umgc.edu/library/index.cfm to support you in your studies. In addition, the UMGC Library provides research assistance in creating search strategies, selecting relevant databases, and evaluating and citing resources in various formats via its “Ask a Librarian” service at https://www.umgc.edu/library/libask/index.cfm.
Step 3 Specific Company for All Four Projects
For this project, your instructor has specifically assigned each student to write an independent report on one focal company. The assigned company must be used for all four projects in this course. You cannot write reports on any other company different from the company specifically assigned by your instructor. Students who fail to use the specifically assigned companies from the list or use an unapproved company will receive a zero for the project.
The company that your instructor has assigned to you will be used for this project.
Step 4 Preparation for the Project
Before you begin writing the report, you will read the following requirements that will help you meet the writing and APA requirements.
You will be analyzing the selected company. When doing analysis, you are not merely making statements that may be cited. Instead, you will be supporting the statements made. “Support” is the process of explaining, discussing, and analyzing “why” and “how,” which is a higher-level critical analytical skill that is required for this class. Support is needed to do well on this project.
Read the grading rubric for the project. Then, use the grading rubric while writing the report to ensure all requirements are met, leading to the highest possible grade.
Step 5 How to Set Up the Project
The document has to be written in Word or RTF. No other format is acceptable. No pdf files will be graded. Use 12-point font for a double-spaced report. The final product is expected 10-12 pages. The final project may not be more than 12 pages, excluding the title page and reference page. Those items identified in the implementation and action plans should appear under the appropriate heading in the paper. Do not use an Appendix.
Create a title page with the title, your name, date, the course number, and the instructor’s name.Create Topic Headings that correspond to exact sections of the project requirements. Use the exact Headings and Heading Numbers listed below in Red Font!
Use the following template using the headings to separate elements. Do not use bullets in your paper as the required format is in narrative format with indented paragraphs and no extra space between paragraphs.
I. Executive Summary
(The Executive Summary is the first paragraph of the paper and will describe to the reader the intent of the paper, explaining the main points covered in the paper and summarizing the findings. It is similar to an Abstract commonly found in academic research papers. The Executive Summary should be clearly understood before reading the remainder of the paper so the reader knows exactly what is being covered in the paper. Therefore, write the Executive Summary last to ensure all of the main points are covered.)
Write an Executive Summary explaining the purpose of the report and summarizing the general findings of the report. Use course materials and company research for support.
II. Strategy Generation
To generate a pool of strategies, you will look at the organization’s business-level strategy, corporate-level strategy, and global strategy.
Then, using the information and data collected from your research and the analytical outcomes from (a) external factor analysis in your Project 2 and (b) internal factor analysis in Project 4, you will generate a pool of strategies.
Finally, use the Grand Strategy Matrix from Project 3 to narrow down your strategies a minimum of three strategies that fit in the appropriate quadrant of the Grand Strategy Matrix for your company. Use course materials and company research for support. (Note to maximize your grade in this area a minimum of five strategies should be proposed.)
III. Cultural and Organizational Factors to Consider
Identify and discuss cultural and organizational factors that should be considered in analyzing and choosing among the alternative strategies. Use course materials and company research for support.
IV. Strategy Prioritization using QSPM
(The QSPM produces a composite analysis that allows you to prioritize strategies. A composite analysis is one in which you will bring in a combination of relevant factors from the various analyses (EFE Matrix, IFE matrix, CPM matrix, SWOT, Grand Strategy Matrix, and QSPM). The QSPM is a tool that helps determine the relative attractiveness of feasible alternative strategies based on the external and internal key success factors. See Week Five Tools and Techniques and Dr. Kathy’s Notes for Week Five.)
IV. A. – Explain Quantitative Strategic Planning Matrix or QSPM – Explain how the QSPM can be developed in order to prioritize strategies.
Use course materials to support your explanation.
IV. B – Develop a QSPM – Prioritize strategies by completing the Quantitative Strategic Planning Matrix or QSPM. Use company research to support some of your justifications (i.e. some of the weights and/or ratings) and course materials to support conclusions made (i.e. total score implications) about this matrix.
V. Strategy Selection and Recommendation
Your strategy selection will be based on the use of the Quantitative Strategic Planning Matrix (QSPM) that you completed in Section IV.
V. A. Strategy Selection – Identify which one or two strategies is best using the Quantitative Strategic Planning Matrix (QSPM) analysis completed in section IV. Give examples from company research and use course materials for support.
V. B. Strategy Recommendation Details – Expand on the strategy selected in V.A discussing the overall strategy from a corporate, business and functional level and expanding on goals, objectives, and tactics of this recommendation. Use both course materials and company research for support.
VI. Strategy Implementation
VI. A. Strategy Implementation Procedures – Describe procedures for the recommended strategy’s implementation. Use both course materials and company research for support.
VI. B. – Who, What and How – Discuss who, what and how to implement the selected strategy or strategies at the corporate level, business-unit level, and functional level. Use both course materials and company research for support.
VII. Strategy Evaluation
VII. A. Evaluation Procedures – Discuss procedures for strategy review and evaluation for the recommended strategy. Use course materials and company research for support.
VII. B. Evaluative Measures – Discuss the appropriate evaluative measures (including who, what, when, and how at the corporate level, business-unit level, and functional level). Use course materials and company research for support.
VIII. Corrective Action Plan – Discuss a corrective action plan (including who, what, when, and how) at the corporate, business unit, and functional levels. Use course materials and company research for support.
IX. Conclusion
Create a conclusion. The Conclusion is intended to emphasize the purpose/significance of the analysis, emphasize the significance/consequence of findings, and indicate the wider applications derived from the main points of the project’s requirements. Use course materials and company research for support.
References
Step 6 Review the Paper
Read the paper to ensure all required elements are present.
*** Company is Verizon***
***Sources
https://leocontent.umgc.edu/content/dam/equella-content/bmgt495/Chapter5_SelectingBusiness-LevelStrategies.pdf
https://leocontent.umgc.edu/content/dam/equella-content/bmgt495/Chapter6_SupportingBusiness-LevelStrategy.pdf
https://www-jstor-org.ezproxy.umgc.edu/stable/256040
https://leocontent.umgc.edu/content/dam/course-content/tus/bmgt/bmgt-495/document/Strategy Formulation%20Analytical%20Framework.pdf
http://www.netmba.com/strategy/matrix/bcg/
https://www.businessstudynotes.com/finance/strategic-managment/how-to-prepare-the-internal-external-matrix/
https://leocontent.umgc.edu/content/dam/course-content/tus/bmgt/bmgt-495/document/QSPM%20Explained.pdf
https://www.youtube.com/watch?v=U_vzpjzSv5s
https://leocontent.umgc.edu/content/dam/equella-content/bmgt495/Chapter4_ManagingFirmResources.pdf
https://www.youtube.com/watch?v=5DFd-ZNbNX4
http://www.maxi-pedia.com/IFE+EFE+matrix+internal+factor+evaluation
https://www.youtube.com/watch?v=fYWHaOjWnN8
https://www.youtube.com/watch?v=VIHeb4mThOA
https://www.youtube.com/watch?v=U_vzpjzSv5s
https://strategicmanagementinsight.com/tools/competitive-profile-matrix-cpm/
https://www.youtube.com/watch?v=NfKLoGZiR4s&embeds_widget_referrer=https%3A%2F%2Flearn.umgc.edu%2F&embeds_euri=https%3A%2F%2Fumgc.h5p.com%2F&embeds_origin=https%3A%2F%2Fumgc.h5p.com&source_ve_path=MjM4NTE&feature=emb_title
ANSWER
Strategic Analysis of Verizon: Generating, Selecting, and Implementing Effective Strategies
Executive Summary
This report provides a comprehensive analysis of Verizon, focusing on strategy generation, selection, and implementation. The purpose of the report is to identify alternative strategies, prioritize them using the Quantitative Strategic Planning Matrix (QSPM), and recommend the best strategy for Verizon’s continued success. The findings highlight the cultural and organizational factors to consider and outline the necessary steps for strategy implementation, evaluation, and corrective action planning.
Strategy Generation
By examining Verizon’s business-level strategy, corporate-level strategy, and global strategy, a pool of strategies is generated. Taking into account external factor analysis from Project 2 and internal factor analysis from Project 4, a minimum of three strategies, aligned with the appropriate quadrant of the Grand Strategy Matrix, are proposed. These strategies are further supported by course materials and company research.
Cultural and Organizational Factors to Consider
The analysis identifies and discusses the cultural and organizational factors that should be considered when analyzing and choosing among the alternative strategies for Verizon. These factors include the company’s mission, values, leadership style, organizational structure, and employee dynamics. Understanding these factors helps determine the feasibility and alignment of each strategy with Verizon’s culture and operations.
Strategy Prioritization using QSPM
The Quantitative Strategic Planning Matrix (QSPM) is explained as a tool for prioritizing strategies based on key success factors. The QSPM is developed, incorporating relevant factors from various analyses, such as the EFE Matrix, IFE Matrix, CPM Matrix, SWOT analysis, and the Grand Strategy Matrix. This comprehensive analysis allows for the prioritization and selection of the best strategy for Verizon.
Strategy Selection and Recommendation
Based on the QSPM analysis, the recommended strategy for Verizon is identified. Examples from company research and support from course materials are provided to justify the selection. The strategy is discussed from corporate, business, and functional levels, including goals, objectives, and tactics. The recommendations are aligned with Verizon’s strategic direction, considering market trends, customer demands, and competitive landscape.
Strategy Implementation
Procedures for implementing the recommended strategy are outlined, taking into account the unique characteristics and requirements of Verizon. The implementation plan includes identifying key stakeholders, defining specific actions and responsibilities, and establishing timelines and performance measures. The discussion is supported by both course materials and company research.
Strategy Evaluation
Procedures for strategy review and evaluation are described to ensure the effectiveness of the recommended strategy. The appropriate evaluative measures, including who, what, when, and how at the corporate, business unit, and functional levels, are discussed. The evaluation process aims to assess the strategy’s progress, identify deviations from planned objectives, and provide insights for continuous improvement. Course materials and company research are used to support the discussion.
Corrective Action Plan
A corrective action plan is presented, outlining the steps to be taken at the corporate, business unit, and functional levels to address any deviations or issues that arise during strategy implementation and evaluation. This plan includes who is responsible for taking action, what actions should be taken, when they should be implemented, and how they should be executed. The discussion draws from both course materials and company research.
Conclusion
The conclusion emphasizes the significance of the analysis conducted on Verizon and the derived recommendations for strategy selection and implementation. It underscores the importance of aligning strategies with the company’s culture, considering organizational factors, and continuously evaluating and adapting strategies to ensure long-term success. The findings of this analysis can serve as a foundation for future strategic decision-making at Verizon, enabling the company to navigate the competitive market and achieve its objectives.
