In-class group work2

In-class group work2 - In-Class Group Work 2 HRAD4523...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: In-Class Group Work 2 HRAD4523 Important Terms in Strategic Management • Competitive Advantage o Competitive advantage is defined as anything that a firm does especially well compared to rival firms. o Firms should seek a sustained competitive advantage by continually adapting to changes in external trends and internal capabilities and evaluating strategies that capitalize on those factors. • An EFE Matrix o EFE allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information. In-Class Group Work Working in groups, answer the following questions for the McDonald’s, Subway, and YUM Brands • Develop an EFE Matrix for MCD Five Steps for Developing an EFE Matrix: 1) List external factors. 2) Assign a weight from 0-1 with 0 being not important and 1 being very important. The total weights assigned must equal 1. 3) Assign a 1-4 rating to each external factor based on effectiveness of each firm’s current strategy. 1 = Poor, 2 = Average, 3 = Above average, and 4 = Superior. 4) Calculate weight * rating. 5) Sum. The highest score is 4 while the lowest is 1. The average is 2.5. MCD OPPORTUNI TIES Weight O1: Industry Segment Growth: Anticipated 4% growth rate in QSR industry. O2: International Markets: Int’l expansion into emerging markets. O3: Beverage market: Increased beverage options (Gourmet coffees). Subway Wei ght Rating ed Sco re YUM Rating Weighted Score Rating Weighted Score THREATS T1: Health Consciousness : More health conscious customers. T2: Price War: Intense price pressure from competitors. T3: Negative public opinion campaigns. TOTAL: 1.00 ...
View Full Document

Page1 / 2

In-class group work2 - In-Class Group Work 2 HRAD4523...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online