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Ticker	Company	Industry
MGM	MGM Resorts International	Hotels, Restaurants & Leisure

INTRODUCTION TO STRATEGY AND POLICY

“Strategy” derives from the Greek word  strategos, which refers to the thinking and action of a military general. In business, strategy is used by leaders and managers to build competitive advantage for the purpose of generating revenue and/or profitability for a company and its shareholders by: 1) ensuring market/product matches and growth, 2) developing and employing distinctive competences, 3) efficient and effective resource procurement, allocation, and deployment, 4) identifying, managing, and mitigating risk, and 5) contributing value to society. No matter the size of a company, leaders and managers use strategy to forecast, direct, and control business outcomes. The concept of strategy is quite broad and encompasses all business functions through the consideration of internal and external influences that require considerable attention, analysis, decision-making, planning, action, monitoring, and management over time, in order to achieve business goals and objectives.

DB 1

Organizational Strategy

Throughout your personal, professional, and academic life, you have been exposed to the concept of strategy in many ways. From career growth to personal finance and business planning, the concept of strategy can be confusing, vague, and seemingly impossible to master. However, the conceptual framework of strategy is really not as complex as it may seem. To set you on a path to mastering the concepts of strategy and policy, you will start by taking a deep dive into what strategy is, and how policy becomes a mechanism to support a strategy. To begin, be sure to complete the following activities prior to developing your discussion response

· Review the Unit 1 Discussion learning resources in the MindTools platform and Library.

· Execute the Unit 1 Practice Quiz before developing your response to the discussion inquiry.

· Choose an organization from the list provided by your instructor in the Unit 1 Discussion Board welcome message.

· Visit the  MERGENT library database  to conduct research on your chosen organization. Become very familiar with this library database. You will need it.

· Analyze the company details, latest annual report, latest news, review competitor information, etc.

· You may also want to visit the website of your chosen organization for more information and observation.

Instructions:

Execute this discussion by answering the following inquiries in essay format:

· Synthesize various research resources to explain how strategy helps your chosen organization to build competitive advantage.

· Identify and assess the vision of your chosen organization.

· Identify and assess the mission of your chosen organization.

· Identify and assess the values of your chosen organization.

· Based on your research, explain any recommendations for improving the vision, mission, and values of your chosen organization. If no recommendations for improvement are needed, substantiate why the vision, mission, and values of your chosen organization are viable.

· Use a minimum of three academic research resources (from MindTools and the Library) to substantiate your critical thinking and to provide viable reasoning for your perspectives.

· Apply proper APA style citation and reference format.

· Use headings to segment the topics in your writing in order to create a flow of ideas for your reader.

· Write in third person.

You are expected to write unique perspectives on the subject of strategy and its purpose in business. Refrain from committing plagiarism. It will not be tolerated. Your contributions must synthesize existing theories, concepts, and principles from the business literature and must add value to the existing body of knowledge.