In order to succeed, organisations must learn to respond and adapt quickly to the challenges in today's rapidly changing business environment. Horngren, Datar and Rajan (2012, p. 467) stated that "In formulating its strategy, an organization must thoroughly understand its industry". Understanding the firm's industry is important but learning to deal with the competing demands posed by various stakeholders such as shareholders, customers, employees as well as the government and the media (just to name a few) is possibly more challenging. The latter could sway the firm to adopt one or both the strategies of product differentiation and/or cost leadership. Specific Requirements: COMPANY RESEARCH (45%): 1. Company Profile You are required to select ONE company that has introduced a new product or service in the past twelve months (i.e. from January 2014). You can choose one from the suggested companies as follows: 1. Apple 2. Honda 3. Microsoft 4. Samsung 5. Virgin Airline Conduct an extensive research on the profile of the company chosen. Your research should include an analysis of the products and/or services provided by the firm before the launch of the new product/service. Clearly discuss the launch of the new product/service and identify the circumstances leading to the launch of the new product/service. 2. Company Performance Considering the knowledge you gained from the topics discussed in the pre-requisite unit (Management Accounting for Planning and Control, e.g. Costing Systems, Cost/Volume/Profit, etc.) and the topics covered in this unit (Analysis for Competitive Advantage, e.g. Business Performance Measures, Balanced Scorecard, Environmental Cost Management, etc.) and/or your other business subjects (e.g. Marketing, Financial Management and others, e.g. SWOT Analysis, Capital Budgeting), analyse and discuss the overall economic and/or social and environmental performance of the company for the past two years before the launch of the new product/service. Your analysis and discussion should explain how the company has either succeeded or failed to strengthen its competitive advantage as a result of the new product/service launched. INDUSTRY & STRATEGY RESEARCH (35%): 1. Industry and Generic Strategy From the point of view of your chosen firm, prepare a Five-Force Analysis (Porter, 1980; 1985) of the industry to which your company belongs to. Considering the two generic strategies of product differentiation and cost leadership, identify and explain whether your chosen firm is likely to adopt one or a combination of these strategies. Your explanation must be supported by proper references (e.g. media releases, statistics, industry report) and the relevant literature on strategic management and competitive advantage. 2. Strategic Recommendation Taking the role of a team of management accountants employed by the chosen company, provide recommendation/s on how the company could better adapt to changing circumstances to maintain its competitive advantage.Page 2 of 2 PRESENTATION (20%) • Present your research in a report format with approximate word length of 4,000-4,500 words. • You are expected to use a combination of books, journals/newspaper articles and company annual reports. An examination of between 20 – 40 data sources is a guide to the level of research required. • Use Harvard referencing style throughout your report.