Grand Strategy Selection SLP
For purposes of the Module 3 SLP, you are a Strategic Management consultant. Your client is a major competitor in one of the following industries:1.Amusement Parks in the U.S.2.Golf Centers and Country Clubs in the U.S.3.Concert and Event Promotion in the U.S.4.Jewelry Stores in the U.S.5.Nursery and Garden Stores in the U.S.6.Department Stores in the U.S.7.Womenâ€™s Clothing Stores in the U.S.8.Furniture Stores in the U.S.9.New Car Dealers in the U.S.10. Fast Food Restaurants in the U.S.Your client has an extensive number of strengths (indeed, these are SCAs): A solid image, the top market share in the industry, excellent cash flow, and a very low long-term debt to equity ratio. Because your clientâ€™s company is renowned in the industry (which you have selected from the list above), the organization has also managed to attract â€“ and retain â€“ the most talented people working in the industry. Finally, the companyâ€™s approach to marketing is second to none.While your client is clearly aware of its internal strengths, the organization is still unclear relative to whether the company should pursue a â€œGrowâ€ (a more aggressive) strategy, or a â€œHoldâ€ (a more passive) strategy. Your client has engaged you to do some research on the industry (use IBISWorld and other current publications in the library). In IBIS, be sure to review the sections: â€œIndustry Questionsâ€ and â€œIndustry Issuesâ€ in addition to other key information and industry data. Assess the opportunities and threats facing the company, and determine the relative attractiveness of the industry as a whole. Then using the GE/McKinsey Matrix, decide whether your client should pursue a â€œGrowâ€ or a â€œHoldâ€ strategy. Because you already know that your clientâ€™s business strength is â€œstrong,â€ your task is to determine the attractiveness of the industry/market. After performing some research on the clientâ€™s industry using IBISWorld, write a 2-3 page memorandum to your client in which you discuss the key threats and opportunities in the industryâ€™s operating environment. Next, dependent on the attractiveness of the industry/ market, advise your client as to whether the company should pursue a â€œHoldâ€ or â€œGrowâ€ strategy. Finally, use the Model of Grand Strategy Clusters to recommend a grand strategy that your client should pursue. Be sure to justify your choice. SLP Assignment ExpectationsYour SLP assignment should be a minimum of 2-3 pages in length. At a minimum, you should include the following section headings to organize the memo to your client:1.Introduction2.Opportunities and Threats in the _______ Industry3.The GE/McKinsey Matrix Applied to the ________ Industry4.Model of Grand Strategy Clusters Applied to the _______ Industry5.ConclusionYou are required to use APA formatting and you are required to cite and reference your sources.Please be sure to review the assignment rubric prior to writing your assignment. References:CalMiramarUniversity. (2012, March 1). Strategic Management: 15 Grand Strategies . Retrieved from https://www.youtube.com/watch?v=llKFeqZvZisddd9255. (2013, September 15). Grand Strategy Matrix . Retrieved from https://www.youtube.com/watch?v=fYWHaOjWnN8Alanis Business Academy. (2013, March 7). How the Boston Consulting Group (BCG) Growth-Share Matrix Works . Retrieved from http://www.youtube.com/watch?v=lc36fK38pLAOptional ReadingShould you need additional resources on Grand Strategy selection, there are many such sources on the internet. Google â€œgrand strategy selectionâ€ as a key word.In the following seminal article by John Pearce, grand strategies are discussed. This strategy selection process is still used by corporations today:Pearce, J.A., II. (1982). Selecting among alternative grand strategies. California Management Review (Pre-1986), 24(000003), 23. Retrieved from the Trident Online Library.Here are some interesting articles on grand strategy selection in various industries:Product Development:Dahlin, E.; Nelson, G. M.; Haynes, M.; Sargeant, F. (2016). Success rates for product development strategies in new drug development. Journal of Clinical Pharmacy & Therapeutics, 41(2), 198-202. Retrieved from EBSCO-Academic Search Complete.Joint Venture:Dean Foods will process, distribute Organic Valley milk. (2016). Dairy Foods, 117(12), 18. Retrieved from EBSCO-Business Source Complete.Vertical Integration:Routroy, S., & Shankar, A. (2014). A study of apparel supply chain risks. IUP Journal of Supply Chain Management, 11(2), 52-69. Retrieved from EBSCO-Business Source Complete.Wilson, N. E. (2015). Local market structure and strategic organizational form choices: Evidence from gasoline stations. International Journal of The Economics of Business, 22(1), 119-140. Retrieved from EBSCO-Business Source Complete.Retrenchment:Sweeney, C. (2016). Dow, Dow Corning streamline operations. Rubber & Plastics News, 45(25), 0004. Retrieved from EBSCO-Business Source Complete.Frankel, D. (2016). CableLabs’ McKinney: Group to lay off 27 in first-ever restructuring. Fierce Cable, 2. Retrieved from EBSCO-Business Source Complete.Market Development:Stein, N. (2016). Diversify to grow success. Horticulture Week, 28.