Answer questions from provided book and information Research Paper

Answer questions from provided book and information - Research Paper Example analyses, identifying the firm’s competitive advantage, designing a competitive strategy, and designing an organizational structure that fits the strategy (Spulber, 2009). The strategy process in Scenario 1 could change in terms of it being a new entrant as an entrepreneurial set-up; as contrasted with Scenario 2 where the firm manifests a rapidly growing trend. As such, goal setting is still the paramount concern for Scenario 1 while it could be deduced that under Scenario 2, the new head of a division, previously set goals are assumed to be clearly set and the relevant steps to consider in strategy management are steps 2 to 5 to determine whether there is a need to revise or redesign competitive strategy in view of changing external factors and internal resources. As a manager, goal setting must be designed in a most appropriate and effective manner which integrates the abilities of the organization with the opportunities posed in the market. As such, there should be an overall organizational goal that is clearly designed and communicated; not a series of different types of goals which could confuse stakeholders in determining which to achieve. The process of external and internal analyses for Scenario 1 and Scenario 2 would be different; since Scenario 1 is a start-up corporation with no historical information regarding external factors that impact its operations; nor any internal resources yet that define the organization’s strengths or weaknesses. For Scenario 2, historical information abounds and therefore, the extent and comprehensiveness of external and internal analyses would be greater and more challenging. Again, for the analysis of competitive advantage and competitive strategy, the two companies would differ in terms of availability of historical information. For Scenario 1, the company is still in the goal setting stage and therefore identification of its competitive advantage and strategy would be premised on what it perceives it could do to