Read the followings chapters in:
Strategic Management for Organizations:
- Chapter 3: Strategic Thinking
- Chapter 4: External Environmental Analysis
- Free Management Library. (n.d.). How to conduct market research [Blog article]. Retrieved from http://managementhelp.org/marketing/market-research.htm.
- This resource describes the concept of market research and the steps to conduct.
- My Strategic Plan. (n.d.). Vision Statements. Retrieved from http://mystrategicplan.com/resources/vision-statements/#Criteria.
- This resource explains mission statements.
- Investopedia. (n.d.) Industry handbook: Porter’s 5 forces analysis. Retrieved from http://www.investopedia.com/features/industryhandbook/porter.asp#axzz1oThwGEo9.
- This resource discusses Porterâ€™s Five Forces.
- ideabuyerLLC. (2008, April 5). Conducting Market Research [Video file]. Retrieved from http://www.youtube.com/watch?v=2TMvfUYZ3dE
- This video offers suggestions related to conducting market research.
Find Strategic Opportunities
Describe Abellâ€™s three-dimensional business-definition model and explain where it can be utilized. Then, consider Readerâ€™s Digest Association, publisher of Readerâ€™s Digest, the largest circulation magazine in the world in 1992. As famous and as popular as its magazine and brand were at the time, the real value to the company was the huge database of subscribers that it had (around 50 million readers). It has used that database to sell various products such as condensed books and other publications, videos, CDs, and so on. Using Abellâ€™s model, explain what other products it could send down this distribution channel which would be amenable to mail order and that would appeal to its subscriber base.
In addition to the text, you must use at least one scholarly source. Your paper must be two to three pages in length (excluding a cover page and reference page) and formatted according to APA style guidelines as outlined in the Ashford Writing Center.
Carefully review the
Grading Rubric for the criteria that will be used to evaluate your assignment.