Unit 6 Discussion
The concept of strategic planning can be as complex as we want to make it, but it is better to keep it simple, which is not so easy to do. Moving away from single business strategy into the world of multi-business strategy, you will need to consider many factors at the corporate level of strategy. In preparation for developing a strategic framework to increase competitive advantage for a multi-business company in the international marketplace.
Conduct research using your textbook and Library resources (Internet resources are unacceptable) as necessary to develop an understanding for strategic planning. Based on all of the strategy concepts you have learned in Chapters 1–8 in your textbook, share your understanding of developing a strategic framework for a business by meeting the following criteria:
· Explain what strategic planning is, and why it is important to a company by giving practical examples and using research.
· List the components of a strategic plan and explain the importance of each component in a strategic plan by giving practical examples and using research.
· Explain the differences in strategic planning for a single-business and a multi-business company.
· Explain the intricacies of strategic planning for businesses in the international marketplace by providing examples and using research.
· Explain why developing a strategic plan is easier than executing it.
Use as many concepts from Chapters 7 and 8 of your textbook to complete this Discussion Assignment as possible. In lieu of an Assignment Dropbox, this Discussion Board Assignment was developed for the purpose of knowledge sharing. You will post your Discussion Assignment essay by the end of Unit 6. You are not required to collaborate with your fellow learners on the Unit 6 Discussion Board. You will collaborate with one another about this strategy research in accordance with the instructions found on Unit 7 Discussion Board.
Essays posted to the Discussion Board beginning in Unit 7 will be considered late, and a penalty will be applied in accordance with the Purdue University Global late policy. You are expected to write unique perspectives on the subject of strategy, and its purpose in business. Refrain from committing plagiarism. It will not be tolerated. Your contributions must synthesize existing theories, concepts and principles, and must add value to the existing body of knowledge. The maximum number of direct quotes permitted in your writing is no more than two from scholarly, peer-reviewed resources.
Examine the breakdown of this Discussion grade using the Unit 6 Discussion grading rubric.