Wgu Jht2 Strategic Management Task 3

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SterlingCrest Music Strategic Plan JHT2 Strategic Management, Task 3 February 7, 2015 Introduction 3 A1. Economic Features 3 A2. Driving Forces 5 A2a. Provision 6 A3. Differentiating Competitive Characteristics 6 A3a. Strategic Group Map 8 A4. Success Factors 9 A5. Competitive Forces 10 B1. Vision Statement 13 B2. Mission Statement 14 B3. Distinctive Competency 14 B4. Market Opportunity 15 B5. External Threats 16 B5a. Threat Recommendation 16 B6. Financial Objective 17 B7. Strategic Objective 18 C1. Principal Managerial Components 20 C2. Alignment 26 C3. Motivation Theories 31 C4. Organizational Considerations 34 C5. Organizational Characteristics 37 C6. Corrective Adjustments 38 References 41 Introduction: SterlingCrest Music is a young company that was founded in Texas in 2010. The company is centered on selling digital music downloads and streaming music subscriptions to its customers through the Internet, along with providing global digital music distribution services for independent unsigned artists. As an e-commerce business, SterlingCrest Music does not operate any brick-and-mortar retail locations. The purpose of this report is to provide a strategic plan that is specifically designed to improve the strategic management activities within the company and align the entire organization to the company’s mission for effective plan execution. The overarching goal in implementing the strategic plan is to achieve a sustainable dominant competitive advantage for SterlingCrest Music. A1. Economic Features: Digital music is quickly starting to replace all physical forms of music media, including compact discs, and has begun to completely transform the music industry as a whole. This technological change, from physical forms of music media to digital music format, is the most

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