Kaplan GB601 unit 2 discussion

Strategy Development and Market Research

The importance of creating a strong and comprehensive strategy especially in a rapidly changing global economy cannot be overstated. In your simulation this week you will be working with your team on a long and short term strategy for growth. To create this strong strategy, you will be using market research and then interpreting this research.

In prior classes, tools you have worked with include SWOT (Strengths, Weakness, Opportunity, Threats), “[u]sed to summarise and consolidate the key issues identified when analysing an organisation and its business environment” (Cadle, Paul and Turner, 2010, p. 14) and PEST/PESTLE “[p]rovides a framework for investigating and analysing the external environment for an organization”(Cadle, Paul and Turner, 2010, p. 3). These tools have a current or backward focus. Looking at data from these lenses is critical to establishing trends. One tool that may be important to add to the tool box is a Market Opportunity Analysis. “A market opportunity analysis (MOA) is a process used by companies to determine the feasibility of entering or expanding operations in particular markets for goods and/or services” (Golicic, McCarthy, and Mentzer, 2003, p. 5). “Opportunity Analysis compels strategists to focus on the ‘what should be?’ instead of the ‘what is.’ ” (“Improving Strategy,” 2012, para 4).

Identify a company that you are interested in researching or if you like, you can use the company you are currently working for. Conduct a backward look on this company using a tool like SWOT or PEST/PESTLE. In your research if you discover a completed SWOT or PEST analysis, use this information as a basis for your analysis work and then add to it, for a more comprehensive analysis. Conduct a backward look on this company using a tool like SWOT or PEST/PESTLE. Then conduct an Opportunity Analysis for potential areas of expansion. Present recommendations using the data analysis you have conducted and include how the past/present and future lens helped you in creating recommendations.

Seek feedback from your peers on areas that you would like to see strengthened in your research. Offer feedback to your peers on areas that you see are strong and suggest ways to make the work they present stronger and more complete.

Using your Readings, the information from prior courses including, GB500: Business Perspectives, GB570 Managing the Value Chain, and personal experience will be helpful to you in this Discussion response.

Reference

Cadle, J., Paul, D., & Turner, P. (2010). Business analysis techniques: 72 essential tools for success. Swindon, England: British Informatics Society Limited (BISL).

Golicic, S. L., McCarthy, T. M., & Mentzer, J. T. (2003). Conducting a Market Opportunity Analysis for Air Cargo Operations. Transportation Journal (American Society Of Transportation & Logistics Inc.), 42(4), 5-15.

Improving Strategy Development with Opportunity Analysis. (January 12, 2102). Retrieved June 22, 2014, fromhttp://outwardinsights.wordpress.com/2012/01/31/improving-strategy-development-with-opportunity-analysis/