Write a 1000-word report responding to:
In this course, there are many framework concepts of strategy that we will consider in establishing how to assure an integrated strategy. Many business leaders think of the following ten framework concepts (presented here not in ranked but in alphabetical order) as the most important:
- Branding
- Business model
- CSR Corporate Social Responsibility (aka ESG Environmental, Social and Governance) & ethics
- Financial resources and management
- Leadership
- Market differentiation
- SCM (supply chain management) and operations
- Staffing, including HR policies & practices
- Strategy execution
- Vision & Mission
- By Thursday, January 20, complete a report in which you reflect on the observations you draw from the Costco case in relation to each of the ten strategy framework concepts listed above.
- For most concepts, you are expected to write at least the equivalent of a paragraph (100 words or 3-4 sentences) for each one. The overall word count of your report should be approximately 1000 words or more.
- Save your document (using your last name in the title) in either Word or pdf format and upload in Blackboard by midnight on January 20.
Guidelines:
As you approach each topic, answer should describe how this concept displays itself positively in the Costco case.
- At this stage of your business education, you should have some understanding of what each concept means. However, if you are unsure of the exact meaning or definition of a concept, please consult the text, a good dictionary/glossary of business terms or email your instructor
- Use your own words as much as possible with direct quotations kept to a minimum. It is much better to paraphrase sources rather than to directly quote. If you feel you have to use direct quotations, they should be short. NB Both quotations and paraphrases require citations.
- Use each concept name as a heading in your discussion of its relevance and leave at least two lines of space between each one
- You are encouraged to use the SafeAssign feature in Blackboard before you complete this assignment. SafeAssign checks for plagiarism; if your Safe Assign score is above 20 you should consider revising your report.
- Here is an example of an answer referring to another strategic framework international expansion. This concept is not one of the ten listed above, but the answer below will illustrate the kind of response you should be striving for. Here it is:
International markets and operations
Costco has extensive international operations and by April 2020 had some 140 warehouse locations outside the US and Canada, in addition to its 647 warehouses in the US and Canada (Thompson, 2022). Although Costcos international sales (excluding Canada) have been relatively stable as a percentage of overall sales – around 13% in each of the three years 2017, 2018 and 2019 – (Thompson, 2020) there would appear to be greater market opportunities internationally for Costco in the future, especially as its US and Canadian markets mature and further growth is constrained. For example, in the European Union, made up of over 500 million mostly affluent consumers, there were only three Costco warehouses as of 2020. (Thompson 2020)
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