
MODULE OUTLINE
2021
Module name:
Strategic analysis
(rev 21 February 2021)
Groups:
All 2021 groups
2. MODULE DESCRIPTION
This module on strategic analysis is designed as a generic foundation module with the intent to equip students with strategic management tools and frameworks that can be used to appreciate and solve general management challenges. This module creates a theoretical and practice baseline for analysis and synthesis praxis and sets a standard for application in other modules on the MBA.
The purpose of this module is to create integrated analysis and synthesis capabilities to appreciate and improve situations associated with general business management challenges.
Lastly, to facilitate in-class discussions, please make sure that you have a clearly visible name card. For sessions attended remotely, please ensure that your camera is on and that your name and surname are displayed.
3. AMENDMENTS TO MODULE
The module contains the following revisions in the past three years.
Year | Amendment | Reason |
2018 | Changed the format of the individual assignment from a document to a “slide-pack”. | The objective is to reduce the workload without impacting on the outcomes of the course. |
2018 | Removed Causal Loop Diagrams (CLDs) from the content | CLDs are extensively covered in Contemporary Decision Making. |
2019 | Change in assessment regime. Pre- class quizzes and individual assignments were removed in favour of assessment of class contribution and five case-analysis assignments. | Improving the efficiency and efficacy of assessment. We also reduced the workload of the module through the removal of the large individual assignment. |
2019 | Increased use of the case method | More application in class, with an increased expectation to ensure mastery of models before class. |
2019 | Introduction of one session focused on the consulting industry. | Many students wish to work as consultants after graduation – session provides insight into the industry. |
2020 | Changed the order of case submissions to the second half of the course. | Better opportunity for application of multiple models to cases |
2020 | Pre-class quizzes re-introduced and class contribution mark removed. | Provides students with an opportunity to test understanding of the material |
2021 | Re-introduction of individual assignment that requires analysis of a company | Although it is a huge project, there is ample evidence to support the value of such an assignment. Marks are much more reliable as individual effort is easier to ascertain. |
2021 | Removal of the case/teaching note exercise from the team assignment | With the re-introduction of the individual assignment, it was necessary to remove the assignment. |
4. LEARNING OUTCOMES
This module is designed to stimulate integrated thinking in the development of solution perspectives around general management challenges. A variety of strategic analysis and synthesis tools and frameworks are used to create multiple perspectives to inform decision making.
After completion of the module the student will be able to:
- Use a variety of strategic management tools and frameworks to analyse the global, macro and target external and internal environment of a firm.
- Apply these analytical results to synthesise strategic issues and potential options for action.
- Demonstrate an ability to create a coherent argument for business decisions that would create value from a multi-stakeholder perspective.
- Critically assess business problems from multiple perspectives.
- Demonstrate an ability to integrate theory from other business disciplines to form a coherent strategic, operational and tactical view on business cases.
Appendix A contains a mapping of module outcomes and assessments to programme level outcomes and assessments.
5. NOTIONAL HOURS OF LEARNING
According to the South African National Qualifications Framework ‘notional hours of learning’ refers to the learning time that it would take an average learner to meet the learning outcomes defined for a particular module. It includes contact time, reading prescribed material, individual learning, time spent in structured learning, i.e. in the workplace, and completing assessments.
One credit equals 10 notional hours of learning and this module thus requires a minimum of 80 hours of learning for the average student as per the following schedule.
Learning Activity | Average time | Comments |
Pre-reading and pre-class assessments | 8 hours | Approximately 1-2 hour preparation for each session is required (only first five sessions) |
Reading and preparing case studies | 7 hours | Preparing for case study discussion (4 cases + 4 submissions) |
Individual assignment | 30 hours | Individual assignment submission based on one of the selected case studies |
Attending class | 20 hours | 10 x 2 hour lectures |
Team assignment: Slide pack | 15 hours | Per team member |
Total learning | 80 hours |
Kindly note that the notional hours is for an ‘average student’ with an average level of exposure to this particular subject area, and exerting average effort. It is realistic to expect more, or less, effort based on students’ current level of knowledge.
6. SOURCES
- Prescribed sources and a word about preparation for class
Ungerer, M., Ungerer, G. & Herholdt, J. 2016. Crystallising the strategic business landscape: Strategy analysis practices and tools for business leaders and strategy practitioners. Randburg: Knowres Publishing
The prescribed textbook for the course may be overwhelming if you do not understand what it aims to achieve. In essence, the textbook provides a “toolbox” of strategic analysis frameworks. Apart from explaining the frameworks, it also often provides examples of how these frameworks are applied. Focus your reading on the explanation of the frameworks and only refer briefly to where the tools are applied. This will make your preparation a little easier.
The MS PowerPoint slides for each session contain multiply examples to further show how other students have used the models in the past. These are not intended as templates.
Each class is introduced with a short video-clip to prepare you for the reading in the textbook. These clips will be made available on the Learning Hub.
6.2 Information on the Learning Hub
The module delivery is strongly supported by the Learning Hub platform.
Case study material and submission links: You will find the relevant case studies for each class on the learning hub. Please note that there are additional individual assessments to submit for each of the cases covered (assessment questions in session outline). These assessments are meant to stimulate your thinking about the case and to practice the application of the prescribed and related theory.
Additional material: Slides (where applicable) are available on the Learning Hub platform and should be consulted as illustrations of the models in the text-book. We will not be discussing the analytical models in depth in class. In each class, there will be an opportunity to clarify how models can be applied and to discuss best practice.
7. ASSESSMENT CRITERIA
Students are assessed via pre-class assessments, individual case-analysis assessments (to be submitted before class) and a team assignment.
7.1 Pre-reading assessments
To help you prepare for classes, as well as to test your understanding of the material, you are required to complete five online quizzes. These quizzes need to be completed either the day of the lecture or by the first day of the block-week. Each quiz will consist of ten random questions based on the pre-reading. The quizzes will be based on the pre-reading for the session from the prescribed textbook.
7.2 Case study assessments
A key part of any Strategic Analysis or Strategic Management course is case analysis. Classes are a lot more fun and engaging when everyone is well prepared for the conversation. In light of this, you are required to submit analyses for selected case studies that will be covered in class. You should connect the main concepts read during the course to the case analysis. Additionally, the case analyses should be guided by at least one model that you believe provides the most utility in answering the case question(s) and your analysis of each of the cases should be no more than two pages. Your mark for this component is based on your submission of these analyses, and not the analyses themselves. However, please note that your submissions will be checked and below-par work will be seen as a non-submission. Should you submit each of the four cases to a satisfactory MBA level, you will earn five per cent towards your final mark. Please review the session outline for the questions that you need to answer for each case analysis.
Please see the submission sessions below:
Case | Submission |
UCOOK: growth challenges faced by a small- to medium-sized South African venture | 8:00 on day of session 3 (or on the first day of the block if applicable) |
When elephants fight: South African washing powder wars (MAQ) | 8:00 on day of session 4 (or on the first day of the block if applicable) |
Aldi: A German retailing icon | 8:00 on day of session 5 (or on the first day of the block if applicable) |
The quest for achieving financial inclusion: M-Pesa Versus UPI | 8:00 on day of session 8 (or on the first day of the block if applicable) |
Please note that no extension can be granted on the submission of these assessments because the case will be extensively discussed during the class.
Also please note that you are allowed (even encouraged) to discuss the cases with each other before submission of your analyses/class discussion. However, you are not allowed to submit the same work. The normal limits on similarity hold for these assessments and plagiarism will result in a heavy penalty.
7.3 Individual assignment: company analysis
Purpose: To practice the strategic analysis and description of a firm. When selecting a firm, consider the following aspects:
- It may be good to select a company that you can do multiple analyses on during your MBA studies. At the same time, make sure that you choose a company that you can write a “case” about. That means that there must be an element of uncertainty/ambiguity in the future of the business. The “dilemma” usually only emerges through the analyses. It is therefore good practice to write your analysis in two rounds. The first round you focus on analysis, and in the second you weave the golden thread through the analysis to highlight elements that align with your central dilemma.
- Keep in mind that you may re-use the result of this company/organisation analysis again in your final strategic management assignment.
- The company should preferably be listed in South Africa so that you have access to company and competitor information. Choosing an international company may create too wide a scope, and choosing a small business may mean that you do not have sufficient data or insight into the workings of the business. You may use your own company if you are a business owner, but the expectation is still that you would be able to provide sufficient and reliable information for analysis.
· You may not use a company that was used in class by any other team in your cohort. You also may not use any material from any team in another cohort.
- It is strongly advised that you start applying the different strategic tools from session 1 onwards. To leave the assignment to the last minute is a very certain way of putting yourself under immense pressure; you will run the risk of submitting an incomplete assignment. It is a good idea to set yourself a goal to apply the models to your case company on the day after your session.
Focus your analysis and synthesis on the core strategic levers, key resources and assets of the business (Please see Appendix B for an overview of the models that should be used).
Technical requirements: The detailed main report should be submitted as a PPT slide pack of not more than 35 pages. Please refrain from attaching irrelevant information with no interpretation. Specifically, copy-and-pasting models from elsewhere will count against you. Where you refer to
external sources, make use of APA referencing1 on the slide where you use the information. Although your mark would largely be determined by the strength of your arguments and level of synthesis, do not underestimate the value of good technical finishing/creativity/innovation.
In summary, you are providing a slide-pack that provides an overview of where this firm finds itself, often leaving the analysis short of what must be done, but rather ending with what the issues are that need attention. It means that there must be flow, but that it needs to be cryptic and not elaborate too much on issues that are beyond what you want the board to take note of. The focus of your report should be on SYNTHESIS, i.e. to make sense of all the information to arrive at the strategic issues.
Due date: As per the assessment schedule.
7.4 Team project – Business case analysis
Purpose: For the team assignment, you will also conduct a thorough analysis of a company of your choosing. The assignment requires the following approach:
As a team, identify a company that is in trouble of some kind, or which is reshaping an industry, or which is facing an exciting opportunity. Define a “question” or “questions” that this company is facing at this point in its life. Show this question(s) on your introductory slide.
To understand the company and its context, use the models that you came across in this module. You are providing an overview of where the firm finds itself, and what could potentially be done to resolve the issue(s). The submission must consist of a detailed, comprehensive external and internal analysis of the company; using the guidelines in Chapters 2-5 of the prescribed book. Please see Appendix B for an overview of the models that you should use. The document should flow, but it needs to be cryptic and not elaborate too much on issues that are beyond what you want the reader to take note of. The focus of this part of your report should be on SYNTHESIS, i.e. to make sense of all the information to arrive at the strategic issues. It is of great importance that you also show the “so what” or implications of each analysis, but also link the conclusions of different analyses with each other.
Technical requirements: The detailed report should be submitted as a slide-pack that has been converted to PDF format. The document is limited to 35 slides/pages maximum. Please refrain from attaching irrelevant information with no interpretation. Specifically, copying-and-pasting models from elsewhere will count against you. Although your mark would largely be determined by the strength of your arguments and level of synthesis, do not underestimate the value of good technical finishing/creativity/innovation. Where you refer to external sources, please make use of APA referencing on the slide where you use the information. A full list of sources should be shown at the end of the slide pack.
The members of the best projects will have the opportunity to present their projects in Session 10.
1 On the slide, you can use a footnote like this one with the full APA reference. For instance: Manzini, B. K. (2014). The importance of supply chain risk management in sugar manufacturing industry. Case Tongaat Hullets (Doctoral dissertation, BUSE).
Teams must prepare for a presentation of 15 minutes, meaning that you would need to select the slides that best reflect your effort and storyline. Please ensure that the following points are covered:
- an overview of a case question (if you were a protagonist in the company, what is the question you should be asking?),
- what the relevant analyses have shown you in terms of revealing the underlying opportunities, trends and problems and what the options are.
Please “hide” slides that you do not use in the class-presentation. DO NOT DELETE, ADD OR EDIT SLIDES. The assessment is mostly based on the submitted document. Teams that present should not present new information. Please number your slides/pages to ease the feedback process.
Company and team permissions
If the case involved primary data obtained through interviews or data supplied by the company (that is not in the public domain), the slide deck should include a slide stating the following:
[Company X] authorises the authors and faculty advisors of the University of Stellenbosch Business School to use the material in this case for future educational purposes, including the publication of a case study. In such a case, the company will have an opportunity to review and approve the case before it is published.
The statement needs to be accompanied by the signature of a senior representative of the company.
The slide deck should also include the following text:
By submitting this assignment, we agree that the material can be used and edited for academic purposes such as class material or a published teaching case.
The team will accordingly be acknowledged for their contribution.
7.5 Assessment criteria for both individual and team assignments
The assessment criteria for both assignments is shown in the rubrics at the end of this course outline (Appendices C and D). Please constantly measure yourself against the rubrics.
7.6 Allocation of marks
Assessment | Allocation | Deadlines |
Pre-reading assessments | 10% | Before the relevant block |
4 x case-analyses | 5% | Before 8:00 on the day of the respective case, or on the first day of a block if applicable |
Team project | 25% | Please see Learning Hub |
Individual assignment | 60% | Two weeks after session 10 |
Total | 100% |
In line with USB guidelines to pass the module, the cumulative average of individual work needs to be 50% or above.
7.7 Submissions and deadlines
All assignments and assessments should be submitted via the Learning Hub and in PDF format. Students have to accept the declaration of originality requested with submission. Kindly refer to the student guidelines that clearly indicate penalties imposed for late submission. Also, note that faculty cannot provide extension to any module deadlines.
8. OUTLINE OF CLASS SESSIONS
Session (Faculty) | Content | Learning material/ Assessment |
Introduction to course and introduction to strategic analysis and strategic synthesis The origins, effectiveness and schools of strategy;The strategic landscape and process of strategizing. | Chapter 1 from Ungerer et al., 2016 (Quiz 1) | |
1 (JV) | Watch the pre-video(s) | |
Van Ness, R. n.d. Guide to case analysis | ||
Analysis of the global and macro context of an organisation SDG’sUN Global Compact analysis;Global Risk analysis;National Development Plan;STEEP analysis;Stakeholder analysis;Sustainable Value analysis | Chapter 2 from Ungerer et al., 2016 (Quiz 2) Watch the pre-videos | |
2 (AO) | Analysis of the competitive context of an organisation (Part 1) Industry Trends;Industry Dominant Economic Features;Industry Profit Pool and Market Share analysis;Industry Competitive Forces;Industry Driving Forces;Industry Key Success Factors;Industry Value chain analysis;Industry Issues | Chapter 3 from Ungerer et al., 2016 (Quiz 3 – will be based on entire chapter) |
Session (Faculty) | Content | Learning material/ Assessment |
3 (AO) | Analysis of the competitive context of an organisation (Part 2) General competitor analysis;Strategic Groups Map Analysis;Competitor strategic profilingCompetitive strengths and weaknesses analysis;Competitor relative evaluation (weighted scores). | Watch the pre-video(s) UCOOK: growth challenges faced by a small- to medium-sized South African venture What do you regard as the central question of the case? How should UCOOK’s management respond? |
Cooperation with competitors’ Coopetition analysis;Complementor analysis. | ||
Customer analysis A customer centricity perspective;A market push and market pull perspective;The Internet and hyper-competitiveness;Customer demands and trends;Customer segmentation;Customer empathy map;Customer need saturation scale;Customer channel phases;Customer relationships. | Chapter 4 from Ungerer et al., 2016 (Quiz 4) Chapter 5 from Ungerer et al., 2016 (Quiz 5) Watch the pre-video(s) | |
4 (KC) | Analysis of the internal context of an organisation Resource-based view of strategy: Capabilities and Competencies analysis;Internal Value Chain analysis;Culture as a competitive advantage;Financial analysis;Risk analysisGeneral internal analysis:Ethical practices analysis; Customer service status/trends analysis; Employee engagement trends;Product positioning analysis: Segment and Product analysis;Organisation life cycle analysis | When elephants fight: South African washing powder wars Discuss the key challenges that Bliss Chemicals has faced. |
Session (Faculty) | Content | Learning material/ Assessment |
Cross-sight Development Synthesis of external and internal information: The theory of the firm;Integrated SWOT analysis;Current business model view;Development of strategic issues and questions perspective. | Chapter 7 from Ungerer et al., 2016 (Quiz 6) | |
Watch the pre-video(s) | ||
5 (JV) | ||
Aldi: A German retailing icon What are the keys to the success of Aldi? | ||
6 (JR) | Startups & innovation | |
7 (HK) | Guest speaker | |
8 (AON) | Interactive case study session | The quest for achieving financial inclusion: M-Pesa Versus UPI To which Digital Payments Scheme (DPS) do you believe Abebi Eke should propose the World Bank lend its support? |
9 (MK) | Guest speaker | |
10 (AON + 1) | Presentation of team assignment (company analysis) |
APPENDIX A: MAPPING OF MODULE AND PROGRAMME LEARNING OUTCOMES
Programme Learning Goals | Programme Learning Objectives | Module Outcomes (Section 4) | Module Assessment mapping | ||||
Critically assess business problems from multiple perspectives. | Apply these analytical results to synthesise strategic issues and potential options for action. | Use a variety of strategic management tools and frameworks to analyse the global, macro and target external and internal environment of a firm. | Demonstrate an ability to create a coherent argument for business decisions that would create value from a multi-stakeholder perspective | Demonstrate an ability to integrate theory from other business disciplines to form a coherent strategic, operational and tactical view on business cases | |||
GOAL 1: MBA graduates are responsible leaders. | 1.1: Graduates are able to identify, evaluate and apply theories and frameworks of responsible leadership context appropriate. | ||||||
1.2: Graduates exhibit self-awareness, critical reflection and perspective taking ability as responsible leaders and managers. | |||||||
GOAL 2: MBA graduates are effective and professional communicators. | 2.1: Graduates demonstrate a well-structured, argumentative writing technique using resources of academic and professional discourse. | ||||||
2.2: Graduates are able to speak effectively and apply oral presentation techniques to engage an audience | (ü) | Team assignment | |||||
GOAL 3: MBA graduates are strategic thinkers. | 3.1: Graduates are able to conduct analysis and critique of a complex business environment using appropriate theories to formulate suitable integrated strategies | ü | ü | ü | ü | ü | Team and Individual assignments |
3.2: Graduates are able to apply cross-cultural skills and a global understanding in their business interactions. | |||||||
GOAL 4: MBA graduates are stewards of society | 4.1: Graduates are able to interpret, integrate and apply Ethics, Responsibility & Sustainability related theory in their decision making | (ü) | (ü) | (ü) | Team and Individual assignments | ||
GOAL 5: MBA graduates are expert decision makers | 5.1 Graduates are able to apply techniques to support complex business decisions | ü | ü | ü | ü | ü | Team and Individual assignments |
5.2 Graduates are able to apply techniques to analyse information and contextualise information for decision making | ü | ü | ü | ü | ü | Team and Individual assignments |
APPENDIX B: EXPECTED FRAMEWORKS IN THE TEAM AND INDIVIDUAL ASSIGNMENT
Global & macro context
UN SDGs
Team
Individual
STEEP/PESTLE
Sustainable Value Framework (linked with SDGs) Competitive context of an organisation
Compulsory Compulsory
Industry analysis Porter’s 5 forces
Key economic features Industry trends analysis Industry driving forces Industry key success factors Industry value chain Industry issues
Min 3
Compulsory Compulsory
Compulsory Compulsory
Ground in authoritative sources
Competitor analysis
Competitor analysis (Table 3.8) Strategic group maps
Profiling of competitors
Competitor resource strenghts and weaknesses (Table 3.10) Competitor weighted resource strenghts and weaknesses
Min 3
Compulsory Compulsory
Compulsory Compulsory Compulsory
Axes should reflect strategic choices, or KSFs. Map should show
strategic clusters.
Use the KSFs
Cooperation with competitors and complimentors analysis – use 1 tool
Coopetition
Complimentor analysis
Min 1
Customers of an organisation
Customer experience mapping (Joseph Pine) e-Customer demands
Customer segmentation Compulsory Compulsory
Customer empathy map Customer need saturation scale Customer channel phases Customer relationships
Internal analysis
Core and distinctive competence analysis Internal Value Chain analysis
Culture as a source of value (Table 5.5) Financial health assessment
Risk analysis
BCG product matrix Organisational lifecycle analysis
Cross-sight tools
Develop a full business model perspective (Osterwalder). SWOT
Integrated SWOT Strategic issues Conclusion
Min 2
Min 5
Compulsory
Compulsory Compulsory
Compulsory Compulsory Compulsory
Compulsory Compulsory
Compulsory Compulsory
Compulsory Compulsory Compulsory
Is the company share price
performing well? Explain why it may be outperforming or
underperforming. Does the company have the resource to act on opportinties and risks?
Make sure SWOT flows from your earlier analyses (Macro/industry/
customers/internal)
Technical quality | Motivation of statements | Critical Analysis and Synthesis to make conclusions | Appropriate application of theory |
No Marks 0 points | No Marks 0 points | No Marks 0 points | No Marks 0 points |
Unsatisfactory: Poorly presented information in a document that is poorly structured or disorganised and/or incoherent presentation of information. Overall technical quality of the document unsatisfactory with numerous areas for improvement or Poor overall technical quality of the document 4 points | Unsatisfactory: Limited motivation of statements with little evidence of findings and conclusions supported by data/theories. 6 points | Unsatisfactory: Limited depth of analysis of the relationship between related concepts and theories. Lack of conclusion to guide the reader. Analysis bias/ lacks objectivity. 12 points | Unsatisfactory: Limited application of theory and/or limited ability to apply theory context appropriately. (For instance, 5 forces should focus on industry rather than the company) 12 points |
Satisfactory 5 points | Satisfactory 15 points | Satisfactory 15 points | Satisfactory 15 points |
Fair 6 points | Fair 18 points | Fair 18 points | Fair 18 points |
Good: Clear, accurate and systematic organisation of information into a logically structured and coherent document. Good overall technical quality of the document 7 points | Good: Clear motivation of statements/ conclusions based on appropriate data and/or theories, and reflecting some critical evaluation of theories, concepts and or assumptions. 21 points | Good: Objective and sufficient analysis of a complex context and an understanding of the interrelationship between some key aspects, and the ability to synthesize deductions into a coherent argument/ position. 21 points | Good: Demonstrates an appropriate application and a sound understanding of theory within the context of the task. 21 points |
Very Good 8 points | Very Good 24 points | Very Good 24 points | Very Good 24 points |
Excellent: Excellent logical organisation of information into a coherent document that integrates content in a systematically structured manner that indicates a critical approach and originality. Excellent overall technical quality of the document, in terms of language use, referencing, contents page, headings & sub-headings, appendices, legibility of the text and diagrams, etc. 9 points | Excellent: Excellent and well-founded motivation of statements/ conclusions, substantiated by data/ theories, and reflecting high level critical evaluation of theories, concepts and assumptions, creativity and independent thinking. 27 points | Excellent: Excellent, balanced and objective analysis of a complex context, with high level understanding of the interrelationship between key aspects, and the ability to synthesize diverse deductions to construct a coherent argument/position. 27 points | Excellent: Comprehensive, well-motivated and fact-based application of relevant theories in the context of the task. 27 points |
Exceptional 10 points | Exceptional 30 points | Exceptional 30 points | Exceptional 30 points |
APPENDIX D: ASSESSMENT CRITERIA FOR TEAM ASSIGNMENTS
The comments below are comments to some previous teams. It provides clarity on some of the aspects that were lacking in the team or individual assignments.
Think of impacts, drivers or trends as vectors, i.e. they have size and direction; but in addition to direction, they can be good or bad. For instance, with industry drivers, any element could exhibit these three characteristics (size, impact, direction). Often when students tried to illustrate this, they would only mention two aspects. To use an example: Increasing digitisation has a large negative impact on brick and mortar retailers, and it is becoming more so. That sentence contains all three elements.
Five forces is a framework to understand the dynamics of an INDUSTRY. Several students would mention the company as part of the framework. It is not about the forces on the company, but rather the forces on the industry. It is ok to then refer to where the company finds itself…but not as part of the model.
Strategic group maps should tell you about the focus of firms in the industry. It should not be about share price performance, market share, profit, etc. It should give you an idea of companies that compete in the same space. In essence, the map should show choices and not performance. I would say at least 3 out of 5 students erred on this aspect.
Motivation of statements: In this respect, I should distinguish between internal referencing and external referencing. Internal referencing refers to linking your text to your analysis in the models. It also refers to cross-referencing between different parts of the report. Especially in the cross-sight part and conclusion, it is important to see where your statements come from. With integrated SWOT, the SW comes from competencies and competitor analysis frameworks (and others), while the OT should flow from your macro/external/competitive/customer analysis. Also linking industry KSFs through the document, i.e. when looking at what the company is good at (are we meeting or surpassing what the industry requires), as well as competitor analysis…you use the same KSFs throughout…
This is the one aspect that made the better reports stand out beyond the analysis.
External referencing refers to external sources of information. For instance, you may refer to the company’s annual report (in which case I expect healthy skepticism) or to a McKinsey/ industry/ investors report. It is very important that you provide references to external sources, as this is where you get authority from.
External referencing was generally lacking, with the exception of a few reports. This is one omission that will bite you hard in the MBA-programme, so get it right.
Synthesis is a very difficult outcome to achieve. It requires holistic understanding. Many students would work with a model in the text and then tell me what the model should be used for, which is a redundant use of words, as I already know this. Also dealing with the 5 industry forces in five headings with no integration misses the point that you are writing a report to a CEO. For the CEO, you would write about the overall attractiveness of the industry, where pressure on the profit is emanating from, and say what can be expected in the future.

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