SB-2 Socratic Skill Builder Assignment
This is a writing assignment that covers the assigned materials (readings, videos, lectures, etc.) for Week 3. Download the Skill Builder #2 assignment template (the link is found below), then write your answers directly into that template (it is a WORD file). Write a minimum of 100 words for each question. Save your changes, then rename the WORD document file as follows: LASTNAME_SB2.docx (your last name followed by an underscore, then the SB2 indication). Then upload the completed assignment to Moodle. This is a TURNITIN assignment on Moodle, which means that when you submit it, you will be submitting it to TURNITIN, and thus receive an originality report indicating possible plagiarism or cheating (there have been problems in the past with students copying the work from past students, or copying from materials previously posted on the internet). You may keep uploading versions of your assignment until you are satisfied with your TURNITIN Originality Report. Remember, you may only obtain a TURNITIN Originality Report once every 24 hours; so allow yourself plenty of time to resubmit if necessary.
For Skill Builder assignments, focus on thoughts and reasoning rather than spelling and grammar. You will NOT be penalized for incorrect spelling or improper grammar or sentence structure. This is a Socratic exercise – an opportunity for you to think and express your thoughts. This assignment is a reflection of the degree to which you are engaged in the course material, and how well you learned the topics assigned this week. The emphasis of this assignment is synthesis – the connecting of dots – where you tie together in a meaningful way (1) the assigned readings and videos, (2) current business and world events, and (3) your previous knowledge and experience. There is no correct or incorrect answer, but rather YOUR answer, based on YOUR thoughts and understanding of the material/concepts. Please avoid trying to answer what others would say, or copy what someone else has thought or written. There are three fundamental mistakes students often make on these assignments: (1) simply rambling unsupported opinions or simply listing the topics assigned this week, (2) failing to apply one’s personal perspective (i.e. writing as if it were a research paper, with no personal perspective applied), and (3) failing to incorporate all the assigned materials for the week (which demonstrates that the student decided to skip some of the readings and other assigned materials).
This assignment is protected under copyright law. Do not share this assignment with outside sources, and do not post this assignment on the internet where it may become available for future students in this course. Outside assistance of any kind and copying/sharing answers is strictly prohibited and will be considered a violation of the LSUS Code of Student Conduct, MBA Honor Code, and copyright law.
Socratic Skill Builder #2 [100 points] – upload as a “.docx” file; do not include questions, only answers
Question #1 (You must write 100 words minimum for the entire question, which includes #1A, #1B, #1C, #1D and #1E. Penalties will be assessed if you fail to answer #1A, #1B, #1C, #1D and #1E ): Last week we took a brief, broad-brush look at the Starbucks case, and you were asked to identify the key issues and industry key success factors. Now it’s time to expand our examination.
Sub-Question #1A: Describe why Starbucks\’ industry has been so profitable.
- Sub-Question #1B: Describe how the competition impacts Starbucks and the industry’s profits do you think Starbucks has competition), and how you think Starbucks can sustain its profits in the wake of a changing world and marketplace.
- Sub-Question #1C: Do you see Starbucks surviving the next 25 years, and if so, will they be profitable (be sure to explain why)?
- Sub-Question #1D: Address the issue of technology, in light of the rapid changes in technology seen in today’s marketplace.
- Sub-Question #1E: What drives the profit of Starbucks, and what are the secrets to its success thee past?
Question #2 – Concepts: (You must write 100 words minimum for the entire question, which includes #2A, #2B, #2C, #2D, #2E, #2F and #2G. Penalties will be assessed if you fail to answer #2A, #2B, #2C, #2D, #2E, #2F and #2G ) : Based on your experience, education (including the videos and materials assigned this week), and knowledge, how would you best incorporate the following concepts into your view of how to get the best performance out of an organization.
- Sub-Question #2A: Intellectual Property Rights:
- Sub-Question #2B: Value Chain:
- Sub-Question #2C: Transaction Cost Economics:
- Sub-Question #2D: Vertical Integration:
- Sub-Question #2E: Environmental Determinism:
- Sub-Question #2F: Business-Level Strategies:
- Sub-Question #2G: Generic Strategies:
Question #3 – Chapter #4 of MSM textbook (Managing Firm Resources) – (You must write 100 words minimum for the entire question, which includes #3A, #3B, #3C and #3D. Penalties will be assessed if you fail to answer #3A, #3B, #3C and #3D ):
- Sub-Question #3A: Summarize and expand on Chapter #4 of the textbook
- Sub-Question #3B: Describe what YOU think about the internal analysis of a firm.
- Sub-Question #3C: Do you feel RBV (Resource-Based View) is a better way to evaluate a firm’s strategic positioning and potential, or would you argue for other perspective paradigms/models to do so, and explain?
- Sub-Question #3D: Do you feel RBV is an effective tool to better manage a firm (navigate the ever changing and turbulent waters of an increasingly competitive marketplace)? Explain why and use personal examples/experience if you can.
Question #4 – Chapter #5 of MSM textbook (Business-Level Strategy) – (You must write 100 words minimum for the entire question, which includes #4A and #4B. Penalties will be assessed if you fail to answer #4A and #4B:
- Sub-Question #4A: Summarize and expand on Chapter #5 of the textbook
- Sub-Question #4B: Explain the different generic strategies. Most importantly, explain which of the generic strategies you feel is the best (most profit potential – or choose another metric). There is often student confusion over the different levels of strategy: (1) functional level, (2) business level, and (3) corporate level. Functional refers to functional areas such as R&D, Production, Finance, Accounting, etc. Business level strategy refers to the single firm, and this is what is discussed in Chapter 5. Corporate level strategy refers to the strategy of an organization that owns MULTIPLE businesses. It is critical to align your strategies across all levels. You might choose to discuss why this is important.
Question #5 – Video Favorites (answer a minimum of 100 words for this question): This week there were videos (and readings) covering disparate topics in business and strategic management. Which of these videos most resonated with you in regards to understanding business and strategic management (and why – why did they catch your eye – why did they resonate with you – why do you believe the video(s) were relevant/important)
Question #6 – PTW Strategies – (You must write 100 words minimum for the entire question, which includes #6A and #6B. Penalties will be assessed if you fail to answer #6A and #6B: In the book, “Playing to Win,” the authors claim that the most important decisions in the strategy process include (1) what is our winning aspiration, (2) where to play, (3) how to win where you are playing, (4) what capabilities must be in place to win, and (5) what management systems are required to win and be sustainable?
- Sub-Question #6A:: Do you agree with the authors that these five questions capture the essence of strategy?
- Sub-Question #6B: Do you feel Starbucks has answered and implemented these five questions appropriately? Explain why or why not.
Question #7 – MSM Chapters 1-5 (answer a minimum of 100 words for this question) : This is a “connect-the-dots” overarching question. Thus far, you have reviewed 5 chapters in the textbook. Chapter 1 provided an overview of Strategic management and how it is often thought to more of an art than a science. Chapter 2 discussed the importance of leadership and the CEO. Chapter 3 examined a company’s external environment, while Chapter 4 looked at the internal aspects of the firm. Chapter 5 described strategies at the business level. Based on your reading and review of these 5 chapters, and your own personal experience/education (and the PTW book), synthesize the aforementioned material into an explanation as to the value of Strategic Management in an organization. Basically, you are being asked to demonstrate that you (1) actually reviewed and under