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No plagiarism! Safeassign in use, please! Organization: JP Morgan & Chase corporation External and Internal Environments OverviewIn this assignment, you are to use the same corporation you selected and focused on for Assignment 1.Using the corporation you chose from Assignment 1: Strategic Management and Strategic Competitiveness, examine the industry in which the entity operates. Use any or all of the following resources to conduct research on the company: Company website. Public filings from the Securities and Exchange Commission EDGAR database. Strayer University's online databases. The Nexis Uni database, Other miscellaneous sources. Note: the company's annual report will often provide insights that other resources may not include. REQUIREMENTS Write a four- to six-page paper in which you do the following: Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Assess how these segments affect the corporation you chose and the industry in which it operates. Considering the five forces of competition, choose two forces of competition that you estimate are the most significant for the corporation you chose. Evaluate how well the company has addressed these forces in the recent past. With the same two forces in mind, predict what the company might do to improve its ability to address these forces in the near future. Assess the external threats affecting this corporation and the opportunities available to the corporation. Give your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Justify your answer. Give your opinion on the corporation's greatest strengths and most significant weaknesses. Choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Justify your choices. Determine the company’s resources, capabilities, and core competencies. Go to Basic Search: Strayer University Online Library to locate quality references. Note: Wikipedia and similar websites do not qualify as academic resources. Your assignment must follow these formatting requirements: This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow SWS or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length. Use the Assignment 2 Template [DOC] to ensure that your assignment meets the above requirements.The specific course learning outcome associated with this assignment is as follows: Analyze the effects of the general environment, competition, threats, opportunities, strengths, and weaknesses relative to a corporation. Grading for this assignment will be based on answer quality, logic and organization of the paper, and language and writing skills, using the scoring rubric. By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution's policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates. Running head: STRATEGIC MANAGEMENT AND COMPETITIVENESS 1 STRATEGIC MANAGEMENT AND COMPETITIVENESS 2 Week 3 Assignment 1 Christine Davis Strayer University BUS499 Business Administration Capstone Dr. Keller April 27, 2020 Strategic Management and Competitiveness Introduction Strategic management in an organization entails setting specific objectives, strategy evaluation, analyzing the organization internally, analyzing the competition and making sure that the strategies get rolled across the organization by the management. Strategic management is necessary to ensure that the organization meets its objectives and goals. The changes in the environment of the business in terms of competition make it necessary for the organization to ensure that their success strategies are constantly assessed. This paper will discuss how the changes in technology and globalization have impacted JP Morgan & Chase corporation, apply the model of industrial organization and the resource based model in determining how above average returns can be earned by the company , assess how the mission and vision statements influence its success, and evaluate how the stakeholder categories affect its success. Globalization Globalization has impacted JP Morgan Chase & Co in such a way that it has been able to expand its business and provide opportunities for those who need them in different states and countries across the world. The corporation has been able to expand its reach and influence the lives of different people across the world while exploring opportunities for maximizing profits for the organization as well ensuring satisfaction of its customers. For instance, it has 40 offices in the United States, private locations of banking in Asia, Europe, and Latin America. The organization has assets of 2.4 trillion and carries out its operations worldwide in over 60 countries with employees that are over 240000. It operates over 5500 banks for retail in the US and has over 200 locations outside the United States. When considering taking their investment to countries across the world, JP Morgan Chase & Co strategically considers factors such as considering whether the conditions that are available in the country are right for success. Also, investments that are deeper and broader are necessary for the purpose of developing growth that is inclusive. Having offices across the world is a strategy that is important in ensuring the company meets the needs of its customers. Technology JP Morgan Chase & Co has a team of technologists that provide solutions of a diverse range including initiatives for strategic technology, mobile electronic payments, big data, cyber security, machine learning and enterprise development of the cloud among other technologies that are state of the art. The impact of the various technologies on the company are as follows. The cloud plays an important role in the company which includes reducing the capacity of the peak that the company has to keep in its centers for data and excess loads of work can also be burst into the cloud. Combining artificial intelligence and compute power is in some way safer for cyber security. The cloud also makes it easier for workloads to be divided into pieces. Technology makes it possible for the services to be faster, cheaper, integrated and better. For instance, mobile banking which is easier as the customer does not need to be physically present in the bank to transact. Social media through the channels like YouTube help market the organization’s services. The company has been impacted by e-commerce in the sense that the corporation’s customers are able to transfer cash online when engaging in online transactions. The organization also allows the buying of shares in the company through the online channels making it convenient for their customers. Data and analytics impact the company in such a way that information collected about the market conditions including competition gets analyzed to identify information that is useful and use it to ensure that the company processes get optimized in order to increase the company’s overall efficiency and improves the satisfaction of customers. Industrial Organization Model Industrial organization model refers to how the organization operates in terms of productivity whereby it looks at the regulatory policy, market competition, antitrust policy and the company’s strategic behavior. This model makes use of an external perspective that is used for the explanation that the organization’s outside forces are a representation of the influences that are dominant on the organization’s strategic actions. This gets based on several assumptions; the decision makers of the organization get assumed to be committed and rational in acting in the organization’s best interest (Parakhina et al., 2017). This is evident in JP Morgan whereby the leaders are responsible in ensuring that the needs of the customers are met by ensuring that the employees give the best they can to ensure that the business maintains its profitability and beats competition. The resources that get used by the organization for the strategy implementation are mobile across firms. This mobility ensures that profits are maximized by spending less on resources that can be shared within the organization. Most organizations that JP Morgan Chase & Co is in competition with make use of similar strategies and sets of resources that are strategically relevant in ensuring that the organizations meet their objectives. The environment that is competitive puts pressure on the corporation and also helps determine the strategies that will get used to produce impressive returns to investments. Resource-Based Model JP Morgan Chase &Co makes use of the model that is based on resources by adopting its characteristics and resources that are unique and using them to earn returns that are above average (Barney, 2018). An example of this unique characteristic for JP Morgan Chase & Co that is uses to maximize returns is the fact that it has been able to merge investment banking and commercial banking in a way that makes sense. Because of this, there are wild varieties of corporate cultures and personalities that get to mix. Because of the diversity, the corporation is able to develop unique or different capabilities from the wild variety of skills that may be presents due to its diversified organizational culture. With different skillsets available to the organization, it will be possible for the organization to make use of strategies that are new in trying to achieve the strategic competitiveness. In the model that is based on resources, JP Morgan Chase & Co will not be able to exercise mobility on the basis that the skills of a person cannot be shared as the information could be part of a competitive strategy to ensure that the organization achieves great returns, more than their competition. Vision The vision statement for JP Morgan Chase is “to be able to be the best company in providing financial services in the world, with their platform that is excellent and great heritage making it possible to reach their goal.” This vision is important as it sets the common goal that employees can look towards in working towards achieving the goals that have been set by the corporation. This vision statement for JP Morgan Chase entails the details of what the company wants to achieve, the purpose and what the company is striving to achieve. The aspirations of the organization are to be the best worldwide financial service provider, the great heritage they have is with regard to diversity which enables them to explore different skills and achieve optimal outcomes with regard to satisfaction of the customers. The fact that the organization involve both investments and commercial banking places it at a better position to achieve the set vision. Mission The mission of the corporation is “to make it possible for many people to share and contribute in the growing economy’s rewards. JPMorgan Chase & Co believe that the reduction of inequality and creation of prosperity that is widely shared needs nonprofit, business, government and other civic organizations to collaborate, especially in metropolitan and city regions that power the growth of the economy.” The efforts to make this mission a reality by the organization has been through the provision of employment opportunities for students of IT to be able to launch their careers starting with internships at JP Morgan Chase. This mission statement will affect the success of the organization in the sense that it will be able to attract the interest of so many people due to its involvement in matters of public interest. In working towards improving the economic growth of the regions in which it has offices, it will also boost its growth due to the expansion of business and the publicity it will have attracted through its collaborations. Stakeholders Stakeholders are those individuals who can be affected and can also affect the strategic outcomes of an organization that get achieved and have claims that are enforceable on the corporation’s performance. JP Morgan & Chase has many stakeholders classified into internal and external stakeholders (Hitt et al., 2020). The internal stakeholders or entities that are within the business include managers, employees, investors and the Board of Directors. The investors impact the organization by making investments of capital to keep the organization running while reaping the returns from the invested funds. The employees impact the organization in the sense that they have a stake that is direct in form of their income of employment as well as other benefits that are either not monetary or monetary. The managers are also employees and as such they have stake of employment salary and other benefits. The members of the Board of Directors are individuals who hold significant stake of shares in the corporation and as such, they impact the decision making processes of the organization. The external stakeholders are entities that are outside the business and include customers whose stake is the service value or quality. The customers impact the business in that the funds they bring in exchange for the services help generate profits for the organization. Communities are also external and hold stake in form of economic development, health and safety in the sense that when JP Morgan Chase sets up new office in a particular community, opportunities for employment get created and the economic position of the community gets improved as well. The impact of the Government on the corporation is that it holds stake in form of GDP and Taxes which makes it the significant stakeholder in the business. References Barney, J. B. (2018). Why resource‐based theory's model of profit appropriation must incorporate a stakeholder perspective. Strategic Management Journal, 39(13), 3305-3325. Retrieved from https://onlinelibrary.wiley.com/doi/abs/10.1002/smj.2949 Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic management: Concepts and cases: Competitiveness and globalization. Cengage Learning. Parakhina, V. N., Boris, O. A., & Timoshenko, P. N. (2017). Integration of social and innovative activities into industrial organization. In Integration and clustering for sustainable economic growth (pp. 225-242). Springer, Cham. Retrieved from https://link.springer.com/chapter/10.1007/978-3-319-45462-7_25 1 2 Week 3 Assignment 1 Student’s Full Name Strayer University BUS499 Business Administration Capstone Professor’s Name Date Template Instructions (delete this page before submitting) This template is provided to help you meet the assignment requirements. This page should NOT be submitted with your assignment, as it is not part of an academically written paper. Note the “Clarity, writing mechanics, and formatting requirements” section of the grading rubric. HOW TO USE THIS TEMPLATE · Read the explanations provided in the template for each section of your paper. · The explanations are in blue font below. · You should have already read the assignment instructions in Blackboard. · Type your response to each of the assignment requirements within the designated sections. · Each assignment requirement is identified using a section Heading that is in black font · DO NOT add extra spaces between sections. · DO NOT change the margins. · You are required to have a heading for each of the sections in your paper. · The required headings have been provided for you. · DO NOT delete, alter, or add anything to the section Headings. · DO NOT type the assignment instructions into the sections. · After typing your responses, change the font color to black and make sure it is not in bold. · Be sure to change the font color on the title page to black after typing your name, professor’s name, and date. · Everything in blue font below should be deleted and replaced with your responses. · DELETE this entire page before you submit your assignment to avoid losing points. REMINDERS · The assignment is due in week 3. · Do not copy content from previous assignments in this class or others. · Late submissions negatively impact your grade. · Include at least 4 full and complete academically written pages that address the requirements. The title page, this instruction page, and the source page do not count. · Use at least 3 quality sources, one of which MUST be the course textbook. · Strayer uses SafeAssign – an automated plagiarism checker. It is advised that you do your own writing and use external resources to support what you have written in your own words. Week 3 Assignment 1 Write your introduction here. Include one (1) paragraph (not more than 6 lines of text) that explains what your paper will discuss. Much of your introduction may be taken from the assignment instructions (in your own words). Read all assignment resources to understand what should be included in your paper. Be sure to review the assignment instructions in Blackboard, the grading rubric, and the recorded writing workshop to understand the requirements. Do not exceed 6 lines of text in this introduction. There should be no direct quotes in this section. After reading these instructions, replace this blue text with your introduction and change the font color to black. Globalization Thoroughly assess how globalization has impacted the public corporation you researched. Provide a thoughtful and well researched response. Consider for example, how your chosen company has been involved in expanding globally, how it has been impacted by global competition, and the global economy. Do not simply define the term globalization. If your company has locations in other countries, do not just state that your corporation has locations in other countries or simply list the various countries in which the company does business. You need to assess the impact globalization has had on your selected corporation. Your assessment should demonstrate that you have read, understand, and can apply the globalization concepts covered in the textbook and course resources. You must consider the various aspects of globalization discussed in the course and make judgments about their impacts to your selected corporation. Do not write about globalization in general terms. Your assessment should be directly related to your selected corporation. Your writing here should thoroughly assess how globalization has impacted your chosen corporation. Do not Google “globalization”. You must display an understanding based on what is studied in this course and demonstrate an ability to apply the concepts in a real-world assessment of a corporation. Your textbook must be a source along with other credible sources that support the globalization concepts covered in this course. Read chapters 1-3 in the course textbook as each chapter provides a solid background on Globalization that applies to this section. Review the Week 1 & 2 Learn Readings for supporting content. Properly cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your assessment and change the font color to black. Technology Thoroughly assess how technological changes have impacted the public corporation you researched. Provide a thoughtful and well researched response. Consider for example, how the company has been impacted by cloud computing, social media, crowdfunding, program apps, email, texting, websites, mobile, automation, robotics, IOT (Internet of Things), AI (Artificial Intelligence), e-commerce, data and analytics, etc. Research how the company may have been impacted by diffusion and disruptive technologies as explained in the textbook. Do not simply define the term technology. You will need to assess the impact changes in technology have had on your selected corporation. Your assessment should demonstrate that you have read, understand, and can apply the technology concepts covered in the textbook and course resources. You must consider the various aspects of technological changes discussed in the course and make judgments about their impacts to your selected corporation. Do not write about technology in general terms. Your assessment should be directly related to your selected public corporation. If your company is technologically advanced, do not simply list the various technologies they possess but rather assess how changes in technology have impacted the corporation. You must display an understanding based on what is studied in this course and demonstrate an ability to apply the concepts in a real-world assessment of a corporation. Do not Google “technology”. Your writing here should thoroughly assess how changes in technology have impacted your chosen corporation. Your textbook must be a source along with other credible sources that support the technology concepts covered in this course. You must display an understanding based on what is studied in this course. Read chapters 1-3 in the course textbook as each chapter provides a solid background on Technology that applies to this section. Review the Week 1 & 2 Learn Readings for supporting content. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your assessment and change the font color to black. Industrial Organization Model Thoroughly apply the industrial organization model to determine how your corporation could earn above-average returns (i.e. revenue). This model is based upon the corporation’s external environment which is anything outside of the corporation that can influence or impact its business (macro)/operations (micro). Your application should walk through the components the model suggests are needed to earn above average returns. Hint: see Figure 1.2 in the textbook. Do not Google “Industrial Organization Model” or simply provide a definition or write in general terms. Your writing here should apply the components of the model, as described in the course material, to your specific corporation, demonstrate your understanding of the concepts, as described in this course, and demonstrate your ability to apply those concepts to a real-world corporation. Read chapter 1 as it provides a solid background on this model. Review the Week 1 Learn Readings for supporting content. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your application and change the font color to black. Resource-Based Model Thoroughly apply the resource-based model to determine how your corporation could earn above-average returns (i.e. revenue). Consider the corporation’s unique resources (corporate culture, land, location, equipment, brand, reputation, trademarks, patents, etc.) and capabilities (skills, experience, etc.) that set it apart from its competition. Your application should walk through the components the model suggests are needed to earn superior returns. Hint: See Figure 1.3 in the textbook. Do not Google “Resource-Based Model” or simply provide a definition or write in general terms. Your writing here should apply the components of the model, as described in the course material, to your specific corporation, demonstrate your understanding of the concepts, as described in this course, and demonstrate your ability to apply those concepts to a real-world corporation. Read chapter 1 as it provides a solid background on this model. Review the Week 1 Learn Readings for supporting content. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your application and change the font color to black. Vision Thoroughly assess how the vision statement of the corporation influences its overall success. Include the actual vision statement for your chosen company (be sure to quote and cite your source). Consider the key concepts discussed in chapter 1 regarding vision in your assessment of your selected corporation’s vision statement. Do not simply provide a definition of vision or make general statements. Do not simply copy and paste the vision statement. In addition to the actual vision statement for your corporation, your writing must demonstrate that you understand the concept of vision, as discussed in this course, and can assess the impact your corporation’s vision statement has on its overall success. You must consider the various aspects of vision statements discussed in the course and make judgments about their impacts to your selected corporation. The assessment is critical to this assignment requirement. Without an assessment you have not met the requirements. Read chapter 1 as it provides a solid background on vision. Review the Week 1 Learn Reading for supporting content. Cite your sources. After reading these instructions, replace this blue text with your assessment and change the font color to black. Mission Thoroughly assess how the mission statement of the corporation influences its overall success. Include the actual mission statement for your chosen company (be sure to quote and cite your source). Consider the key concepts discussed in chapter 1 regarding mission in your assessment of your selected corporation’s mission statement. Do not simply provide a definition of mission or make general statements. Do not simply copy and paste the mission statement. In addition to the actual mission statement of your selected corporation, your writing must demonstrate that you understand the concept of mission, as discussed in this course, and can assess the impact your corporation’s mission statement has on its overall success. You must consider the various aspects of mission statements discussed in the course and make judgments about their impacts to your selected corporation. The assessment is critical to this assignment requirement. Without an assessment you have not met the requirements. Read chapter 1 as it provides a solid background on missions. Review the Week 1 Learn Reading for supporting content. Cite your sources. After reading these instructions, replace this blue text with your assessment and change the font color to black. Stakeholders Thoroughly evaluate how each category of stakeholder, described in the textbook, impacts the overall success of your selected corporation. Do not Google “stakeholders” or simply provide a definition or list of stakeholders. You must provide an evaluation that demonstrates your understanding of each classification of stakeholders, as described in this course. Hint: See Figure 1.4. Do not write in general terms about stakeholders. Your evaluation must thoroughly and specifically describe how each classification of stakeholders impacts your selected corporation’s success. It is critical that you display your understanding of stakeholder classifications. Without the identification and evaluation of each of the stakeholder classifications, discussed in the course, you have not met the requirements. Read chapter 1 for additional background on Stakeholders and the Classifications, as it provides a solid background that applies to this section. Review the Week 1 Learn Reading for supporting content. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your evaluation and change the font color to black. Sources 1. Hitt, Ireland, & Hoskisson. 2020. Strategic management: Concepts and cases: Competitiveness and globalization (13th ed.). Mason, OH: South-Western Cengage Learning 2. Author. Publication Date. Title. Page # (written as p. #). How to Find (e.g. web address) 3. Author. Publication Date. Title. Page # (written as p. #). How to Find (e.g. web address)