What Is Strategy and Why Is It Important?

We’re living in a world where new shocks—the war in Ukraine, the return of inflation—have been layered onto earlier shocks—a deadly global pandemic, supply chain disruptions—that in turn were layered onto, and dramatically accelerated, long-standing trends such as digitization and sustainability. In almost all our recent conversations, CEOs, board members, and other business leaders share with us a common sentiment: this combination of shocks has created perhaps the most challenging environment management teams have ever faced—and one that likely won’t change anytime soon. We have entered an age of volatility. Therefore, today’s challenging environment requires business leaders to hone their edge in three critical areas: insights, commitment, and execution. (McKinsey, 2022) Using a company of your choice, you are required to write a case study of approximately 2,500 words discussing the above statement and how your chosen company has dealt with/is currently dealing with, this period of volatility. The case study should draw on specific ideas from at least TWO of the following chapters in your textbook, Crafting & Executing Strategy: Concepts & Cases (Arthur Thompson, 23rd Edition). Chapter 1 What Is Strategy and Why Is It Important? Chapter 2 Charting a Company’s Direction Chapter 3 Evaluating a Company’s External Environment Chapter 4 Evaluating a Company’s Resources, Capabilities, and Competitiveness Chapter 5 The Five Generic Competitive Strategies Use the case studies discussed in class as potential guides (e.g. Airbnb, Disney etc). Analysis of primary data from organizations, as well as secondary data from other reputable sources, should be included. You should also include your opinion of the success of past strategic decisions as well as a statement of how you believe their strategy should evolve in line with changes in the micro and macro environment (e.g. use tools such as PESTLE, SWOT etc).