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? Research your assigned strategic options.
? Discuss how the strategic options can be employed to create and sustain a competitive advantage.
? Discuss the strategic options’ pricing, features, and the clientele base for the social networking application.
? Discuss the pros and cons of the strategic options.
? Make a recommendation to the group on whether to use your strategic options.
? Explain your group’s first consensus on a strategic option to implement.
? Discuss which of the strategic options you recommended and why.
? After researching your assigned strategic options, do you believe your group made the right choice?
Background:
Today, the vice president of your company, Mr. Myers, reveals that you will be assigned to a group to assist the company with its quest to implement a social networking Web site. He explains to you that the group should research the different types of strategic analysis and explain how the strategic analysis will help the company get the Web running.
The online social networking industry is growing rapidly with a variety of both personal and business oriented applications emerging tapping into the global marketplace. There are also many niche applications popping up, such as those targeting a specific geographic region, industry, or customer group.
The Vice President for your company, Funder Mifflin Inc., recently approached you with a new social networking website that Research and Development designed. He explains that the company is extremely excited about the possibility of entering the industry and taking advantage of the growing demand for social networking. Your company has extensive technical experience and the ability to build most any feature into the website but they are unsure of what strategic direction to take when marketing the new website. For instance, should your company focus on a specific niche or keep the website more mainstream. Additionally, they would like to know the features, pricing, and marking strategy that would best support the new website.
Given your background and management expertise, your company, Funder Mifflin Inc. would like to offer you a bonus for helping the company implement a strategic plan to get the new website off the ground. The Vice President explains that in order to receive the bonus, you will have to present a plan of action to the Board of Directors in order to obtain funding to launch the new product.
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