MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

MGT603 Assignment No 1 Solution Fall 2023

By PIN2 and MUHAMMAD

(MAS All Rounder)

OBJECTIVES OF THE ACTIVITY: To familiarize the students with the basic ‘Strategic Management Concepts”
which are the stepping stones in the understanding of strategic management.

MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

 MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

LEARNING OUTCOME: After successfully attempting this assignment, the students will be able to understand the
basics of strategic management.

SCENARIO: Carefully read the given statements related to a Space exploration and transportation company.
Identify which statement represents which of the given strategic management concepts:

a. Vision Statement

b. Mission Statement

c. Internal Factors

d. External Factors

e. Values

f. Policies

g. Long-term Goals

h. Short-term Goals

i. Strategies

j. Strategic Evaluation

Solution:
Statements Answer
“In the past, our company has seen a mission success rate
exceeding 90%, a 5% reduction in launch costs resulting in a
growing market share and enhanced operational efficiency.”

Strategic Evaluation (j)

MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

“We face competition from established aerospace companies

and emerging private space ventures. Market dynamics are
influenced by factors such as technological advancements,
government policies, and international partnerships.”

External Factors (d)

“We will collaborate with government agencies and
commercial partners to accelerate starship development.”
Strategies (i)
“We enforce strict safety measures and embrace diversity and
inclusivity, ensuring equal opportunities for all employees.
The company is committed to sustainability in its operations
and exploration endeavors.”
Values (e)
“Till 2050, we will establish a sustainable presence on Mars
and other celestial bodies.”
Long-term Goals (g)
“The company's culture of innovation and its technical
expertise contribute to its leadership in the space industry.”

Internal Factors (c)

“We are dedicated to developing and deploying cuttingedge,
cost-effective space launch and exploration technologies,
making space travel more accessible and sustainable.”

Mission Statement (b)

“We will Increase the frequency of rocket launches to
enhance revenue streams by 10% next year.”
Short-term Goals (h)
“Innovation, sustainability, exploration; these words hold
profound significance for us.”
Policies (f)
"To lead humanity into a multi-planetary future, pioneering
the exploration and colonization of space”
Vision Statement (a)

MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)

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MGT603 Assignment solution fall 2023 by PIN2 and MUHAMMAD

(MAS All Rounder)