MGMT 670 Strategy Report.docx - Strategy Report Week 2...

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Strategy Report Week 2 - Strategy Report Victory Rich MGMT 670-Strategic Management Capstone Professor: Dr. Nick Lebredo June 3, 2019
Strategy Report What business model does your company use? There are three (3) tests mentioned in Week 1 to examine if a company has a winning strategy; the competitive advantage, the goodness of fit, and the performance tests. The competitive advantage test determines if the strategic performance is improving while the goodness of fit test reflects how well the strategy serves the needs of the company. Together they should boost the company and show strong financial stability in the performance test. Strategic planning is the process of developing the company objective to achieve the mission of the organization. I am currently employed with a local government agency that is responsible for building and procuring goods for public use. Since my company is a public agency the focus is less on profit and more on public service. The business model is different in the sense of competition and competitive advantage because there are very few companies that can compete with the volume of purchasing that the government does constantly. What is your organization’s vision and mission? The vision statement is usually created first because it is the long term description of where the company plans to go in the future. Vision statements are often confused or used in conjunction with mission statements. However, a vision statement should propose more of a direction for the company and include a perspective of core values. A vision might provide a long term direction for the company over a period of 5 to 10 years. I was unable to locate the vision statement and I

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