ASSIGNMENT 4 BU470 Strategic Management Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A The questions in Part A refer to the material discussed in Lesson 1 of this course. Respond to the following. 1. Describe the strategic management process. What does it mean to manage strategically? 2. What are the three types of organizational strategies and how are they different? 3. The Sarbanes-Oxley Act of 2002 (SOX) has had a significant impact on strategic management practices and strategies. Discuss how the Sarbanes-Oxley Act of 2002 reformed corporate governance. Part B The questions in Part B refer to the material discussed in Lesson 2 of this course. Respond to the following. 1. Compare and contrast the industrial organization (I/O) and resource-based views (RBV) on competitive advantage. a. How does each develop a competitive advantage? b. What is their focus? c. What are their determinants of profitability? 2. What makes organizational resource-based views unique? Part C The questions in Part C refer to the material discussed in Lesson 3 of this course. In Lesson 2 you discussed the industrial organization (I/O) and resource-based views (RBV) on competitive advantage. You now know that competition and competencies are both major organizational concerns. In Lesson 3 we take a closer look at how to conduct an external analysis of an organization's specific and general environments. To demonstrate your understanding of external analysis, respond to the following. 1. Analyze the two perspectives on the environment. 2. Explain the primary responsibility of managers in conducting external analysis across managerial levels. 3. Describe the benefits of conducting an external analysis. Part D The questions in Part D refer to the material discussed in Lesson 4 of this course. As you learned in Lesson 3, performing an external analysis can provide information to be used in planning, decision making, and strategy formulation. Organizations that conduct external analysis are most successfully when they combine this knowledge with a solid understanding of their internal strengths and weaknesses. To demonstrate your understanding of internal analysis, respond to the following. 1. Define and present the characteristics of distinctive organizational capabilities. 2. Outline the steps in the identification of distinctive organizational capabilities. 3. Describe the criteria involved in judging organizational strengths and weaknesses. 4. Discuss the internal audit approach and why it is important. Grading Rubric Please refer to the rubric on the next page for the grading criteria for this assignment. CATEGORYExemplarySatisfactoryUnsatisfactoryUnacceptable Part A: Strategic Management (15 points) Part A: Sarbanes- Oxley Act (5 points) Part B: Competitive Advantage (15 points) Part C: The Environment (5 points) Part C: External Analysis (10 points) Part D: Distinctive Organizational Capabilities (5 points) Part D: Capabilities Identification (10 points) Part D: Organizational Strengths and Weaknesses (5 points) Part D: Internal Audit Approach (5 points) 15 points 12 points 8 points 5 points Student provides a clear, logical description of the strategic management process, as well as the three types of organizational strategies, and how are they different. 5 points 4 points 3 points 2 points Student provides a clear, logical discussion of how the Sarbanes-Oxley Act of 2002 reformed corporate governance. 15 points 12 points 8 points 5 points Student provides a clear, logical comparison of the I/O and RBV views on competitive advantage, including what makes organizationa RBV views unique. 5 points 4 points 3 points 2 points Student provides a clear, logical analysis of the two perspectives on the environment. 10 points 8 points 5 points 2 points Student provides a clear, logical discussion of the benefits of and the primary responsibility of managers in conducting external analysis. 5 points 4 points 3 points 2 points Student provides a clear, logical discussion of the characteristics of distinctive organizational capabilities. 10 points 8 points 5 points 2 points Student provides a clear, logical outline of the steps in the identification of distinctive organizational capabilities. 5 points 4 points 3 points 2 points Student provides a clear, logical description of the criteria involved in judging organizational strengths and weaknesses. 5 points 4 points 3 points 2 points Student provides a clear, logical discussion of the internal audit approach and why it is important. Student provides a mostly clear, logical description of the strategic management process, as well as the three types of organizational strategies, and how are they different. Student provides a mostly clear, logical discussion of how the Sarbanes-Oxley Act of 2002 reformed corporate governance. Student provides a mostly clear, logical comparison of the I/O and RBV views on competitive advantage, including what makes organizationa RBV views unique. Student provides a mostly clear, logical analysis of the two perspectives on the environment. Student provides a mostly clear, logical discussion of the benefits of and the primary responsibility of managers in conducting external analysis. Student provides a mostly clear, logical discussion of distinctive organizational capabilities. Student provides a mostly clear, logical outline of the steps in the identification of distinctive organizational capabilities. Student provides a mostly clear, logical description of the criteria involved in judging organizational strengths and weaknesses. Student provides a mostly clear, logical discussion of the internal audit approach and why it is important. Student provides a weak or unclear description of the strategic management process, with some discussion of the three types of organizational strategies and how are they different. Student provides a weak or unclear discussion of how the Sarbanes-Oxley Act of 2002 reformed corporate governance. Student provides a weak or uclear comparison of the I/O and RBV views on competitive advantage, including some discussion of what makes organizationa RBV views unique. Student provides a weak or unclear analysis of the two perspectives on the environment. Student provides a weak or unclear discussion of the benefits of and the primary responsibility of managers in conducting external analysis. Student provides a weak or unclear discussion of distinctive organizational capabilities. Student provides a a weak or unclear outline of the steps in the identification of distinctive organizational capabilities. Student provides a a weak or unclear description of the criteria involved in judging organizational strengths and weaknesses. Student provides a a weak or unclear discussion of the internal audit approach and why it is important. Student provides a poor description of the strategic management process, with some discussion of the three types of organizational strategies and how are they different. Student provides a poor discussion of how the Sarbanes-Oxley Act of 2002 reformed corporate governance. Student provides a poor comparison of the I/O and RBV views on competitive advantage, including little discusssion of what makes organizationa RBV views unique. Student provides a poor analysis of the two perspectives on the environment. Student provides a poor discussion of the benefits of and the primary responsibility of managers in conducting external analysis. Student provides a poor discussion of of distinctive organizational capabilities. Student provides a a poor outline of the steps in the identification of distinctive organizational capabilities. Student provides a a poor description of the criteria involved in judging organizational strengths and weaknesses. Student provides a a poor discussion of the internal audit approach and why it is important.