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Charles Malunga Write Up BS443

This document contains a student's responses to questions regarding the differentiation between a strategic alliance and joint venture, and the advantages of conducting gap analysis in strategic management. The student provides a table comparing the key differences between a strategic alliance and joint venture. They then list and explain five advantages of conducting gap analysis in strategic management, including helping to identify shortcomings, improving efficiency, providing an organizational overview, allowing performance comparisons, and facilitating strategic discussions. References are provided at the end.

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29 views5 pages

Charles Malunga Write Up BS443

This document contains a student's responses to questions regarding the differentiation between a strategic alliance and joint venture, and the advantages of conducting gap analysis in strategic management. The student provides a table comparing the key differences between a strategic alliance and joint venture. They then list and explain five advantages of conducting gap analysis in strategic management, including helping to identify shortcomings, improving efficiency, providing an organizational overview, allowing performance comparisons, and facilitating strategic discussions. References are provided at the end.

Uploaded by

Knowledge Sithole
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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BINDURA UNIVERSITY OF SCIENCE EDUCATION

FACULTY OF COMMERCE

DEPARTMENT OF ACCOUNTING

Name : Malunga Charles

Reg number : B1850091

Level : 4.2

Program : Bacc

Course Code : BS443

Course Narration : Strategic Management

Question: Differentiate a strategic alliance from joint venture (12)

: Explain any five advantages of conducting gap analysis in


strategic management (13)
a) Differentiate a strategic alliance from joint venture (12)

Comparison Joint Venture Strategic Alliance


Meaning A Joint venture is a A strategic alliance
form of business implies an agreement
organization, set up by between two or more
two or more business entities to work jointly
organizations for the with one another to
purpose of carrying out increase the
a particular task or performance of both
business activity. parties.
Contracts A joint venture needs a Strategic Alliance may
contract agreement or may not be need a
between two or more contract agreement
parties with all the between two or more
descriptions about a parties.
share of profit and loss
etc
Independent The independent The two more
organization entities come together companies come
in a joint venture. Do together in a strategic
not operate as alliance, continue to
independent companies. operate as separate and
independent companies.
Risk In a joint venture, there In a strategic alliance,
is and limited risk to there are chances for
parties involved in the higher risk due to the
agreement. trust relationship
between two parties,
because there is may or
may not contract.
Duration Joint venture duration is Strategic alliance
of the short term only duration can be long
maybe 1 year to 5 term or short term
years. depends upon the need
of time.
Management In joint venture In a strategic alliance,
management is management is
bilateral. delegated.
Objective In a joint venture a risk In a strategic alliance,
is limited. the reward is
maximized.
Resources In joint venture In strategic alliance
resources include resources include
massive leverage, lower product, knowledge,
risk, and optimum expertise, goodwill,
utilization of resources. capital, etc.
From of Strategic alliance Collaboration or
corporate partnering
Separate legal entity A joint venture is a A strategic alliance is
separate legal entity not a separate legal
entity
Part The joint venture is a A strategic alliance is
complicated part of a itself an alliance of two
strategic alliance. different businesses.

b) Explain any five advantages of conducting gap analysis in strategic


management (13)

i. A gap analysis is going to assist you in finding any shortcomings to


overcome. It can be easier to quantify or identify them and in the
long term, and is going to assist in making improvements.

ii. Doing a gap analysis will improve the efficiency of your business.
It will pinpoint anything unusual that is going on. Once done, you
will be able to focus more on your resources and energy on what
needs to be changed.
iii. Using gap analysis tools can also help you have an overview of the
entire company or at least particular functions. This helps
managers see if the organization has enough resources to meet its
mission.

iv. You can also use gap analysis as a means to compare performance
with potential. Knowing details that show how much a certain
product or person has gone off down the line is essential.

v. Gap analysis process means that you will have more data on how
to improve. For example, when it is used in manufacturing it can
help manage resources. What we mean by resources is money,
material, or human resources.

vi. A gap analysis allows managers and directors to speak a common


language. It facilitates a dialogue about how assessments and
curriculum can best meet organizational needs.

vii. It helps identify when new types of assessments are needed, for
example to measure worker`s critical thinking in authentic
performance tasks.
REFERENCE

I. . Exploring Corporate Strategy, Gerry Johnson, Kevan Scholes, Richard Whittington,

2009, Pearson Ed Ltd, United Kingdom, 2nd Ed.

II. 2 Crafting and Executing Strategy Arthur A Thompson Jr, Strickland A.J., John E.

Gamble and Arun K. Jain, McGraw Hill Education Private Limited, New Delhi.

III. . Strategic Management Michael Hitt, Ireland, Hoskission, 2010, Cengage Learning,

New Delhi.

IV. .Strategic Management – Concepts and Cases, Fred R. David, 2010, PHI Learning,

New Delhi.

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