9001SMGT Strategic Management

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Your task is to undertake a strategic planning exercise for your own organisation, or for an organisation with which you are familiar. For this assignment, you are required to conduct a detailed assessment of various components of the strategic management process and suggest which strategy you believe will be the most appropriate for your chosen organisation and explain why. Procedure Clearly describe the chosen organisation and industry. The chosen organisation is ANZ Bank . ANZ bank sits within the financial services industry  Identify the company’s key resources and/or capabilities (at least four) and assess the competitive power of each of those resources and/or capabilities using VRIN Test. (VIRN test is mandatory) Analyse its competitive environment using Porter’s Five Forces Framework, assess the nature /strength of the competitive pressures and suggest whether collective strength of the five forces (in your chosen industry) is conducive to good value for the organisation. The scholarship article by Dobbs (2014), ‘Guidelines for applying Porter’s Five Forces Framework’, provides a comprehensive, structured and practical set of templates that can be used by managers to analyse the competitive environment in their industry.