ASSIGNMENT4;BU470 Strategic Management;Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth;College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use;correct English, spelling and grammar. Sources must be cited in APA format. Your response;should be four (4) double-spaced pages, refer to the "Assignment Format" page located on the;Course Home page for specific format requirements.;Part A;The questions in Part A refer to the material discussed in Lesson 1 of this course. Respond to the;following.;1. Describe the strategic management process. What does it mean to manage strategically?;2. What are the three types of organizational strategies and how are they different?;3. The Sarbanes-Oxley Act of 2002 (SOX) has had a significant impact on strategic;management practices and strategies. Discuss how the Sarbanes-Oxley Act of 2002;reformed corporate governance.;Part B;The questions in Part B refer to the material discussed in Lesson 2 of this course. Respond to the;following.;1. Compare and contrast the industrial organization (I/O) and resource-based views (RBV);on competitive advantage.;a. How does each develop a competitive advantage?;b. What is their focus?;c. What are their determinants of profitability?;2. What makes organizational resource-based views unique?;Part C;The questions in Part C refer to the material discussed in Lesson 3 of this course.;In Lesson 2 you discussed the industrial organization (I/O) and resource-based views (RBV) on;competitive advantage. You now know that competition and competencies are both major;organizational concerns. In Lesson 3 we take a closer look at how to conduct an external analysis;of an organizations specific and general environments.;To demonstrate your understanding of external analysis, respond to the following.;1. Analyze the two perspectives on the environment.;2. Explain the primary responsibility of managers in conducting external analysis across;managerial levels.;3. Describe the benefits of conducting an external analysis.;Part D;The questions in Part D refer to the material discussed in Lesson 4 of this course.;As you learned in Lesson 3, performing an external analysis can provide information to be used;in planning, decision making, and strategy formulation. Organizations that conduct external;analysis are most successfully when they combine this knowledge with a solid understanding of;their internal strengths and weaknesses.;To demonstrate your understanding of internal analysis, respond to the following.;1.;2.;3.;4.;Define and present the characteristics of distinctive organizational capabilities.;Outline the steps in the identification of distinctive organizational capabilities.;Describe the criteria involved in judging organizational strengths and weaknesses.;Discuss the internal audit approach and why it is important.
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