1-Prior to beginning this discussion, review section 7.4 Contingency
Planning in your textbook. Strategic plans are focused on current and
future company goals, therefore changes in the environment must be
detected and monitored. Changes in the environment that impinge on the
company’s strategic plan are known as external triggers and triggers are
paired with plans to successfully deal with them. These paired actions
are known as contingency plans. What qualities make a future issue a
“trigger”?As an example, consider you are on the strategic planning team for a
soft drink company. A merger of two major competitors next year would
constitute a future trigger. For this discussion, consider the
Environmental Scan and SWOT analysis you conducted in Week 2. Formulate a
trigger/contingency pair in the form of a three-part sentence similar
to the example in the textbook. Examine it in terms of the three
guidelines that good contingency plans should follow.Post a summary of your selected company and risks that you perceive
based on your prior Environmental Scan and SWOT analysis. State the
three-sentence trigger/contingency pair and justify your choice of
contingency plan using information from the week’s readings and/or other
scholarly or credible resources, using the Scholarly, Peer Reviewed, and Other Credible Sources (Links to an external site.)Links to an external site. document for guidance.. 2-Please review Chapter 4’s section concerning Porter’s 5 Forces, read the Forbes article Porter or Mintzberg: Whose View of Strategy Is the Most Relevant Today? (Links to an external site.)Links to an external site. (Moore, 2011) and view the required You Tube video Five Competitive Forces That Shape Strategy (Links to an external site.)Links to an external site.,
regarding Porter’s five forces. In the video, Mr. Porter discusses how
Porter’s Five Forces Analysis is an important tool for assessing the
potential for profitability in an industry. As an example, Mr. Porter
applied these five forces to the airline industry. Think of another
industry where profitability is low. In an initial post of at least 250
words, apply the five forces to your chosen industry and demonstrate how
those forces can lower profitability.