Essay about Week 4 knowledge Check

(2001). Are you sure you have a strategy?. The Academy of Management Executive. 15 (4), 53.

Due to the growing competition and diminishing market share, companies are opting for different strategies to achieve their survival objectives as well as growth. Companies are thus executing grand strategies to provide their businesses with a clear direction for its strategic actions. These strategies, therefore, aim at both short term and long term sustainability and growth, and they include innovation, market development, product development, and concentration.

The company is currently implementing five short term business strategies focused on delivering results that will prompt company growth in comparison to its industry and its competitors: “(1) driving a competitive top line; (2) generating margin flow-through from improved

After review the information on past and estimated in the future, company, products, competitors and branding, I recommend the following strategy:

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

At the highest or corporate level the strategy provides long-range guidance for the whole organization – what business the firm should be in or hope to be in?

the business strategy to succeed in the industry. The report is divided in questions that

Cost leadership strategy: Producing products/services at the lowest cost in the industry. There are examples of companies that became cost leaders by incorporating IT into their management information systems. Dell Computer Online build to order system resulted in Dell becoming the lowest cost producer of computers and thus dealing a heavy blow to rivalry competitors.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 Sales Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3.1 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.4 Milestones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.5 Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.6 Pricing Strategy .

business diamond (p. 34) business strategy (p. 26) cost leadership (p. 27) differentiation (p. 28) focus (p. 28) hypercompetition (p. 30) IS strategy (p. 37) Information Systems Strategy Triangle (p. 23) managerial levers (p. 36) mission (p. 25) organizational strategy (p. 34) shareholder value model (p. 29) strategy (p. 25) unlimited resources model (p. 30)

The globalization has huge impact on the attitude and behaviour of the customers, clients and consumers as they want more quality high brand, goods and services at compatible prices. Firms compete for customers, and management formulate strategic plans to enhance the quality, brand strength and brand image of goods and services to achieve organizational goals and objectives and to achieve sustainable competitive advantage. Organizations want to have innovative creative, challenging, and strategic work force which formulate strategic plans establish goals and objectives obtain, allocate, distribute and utilize scarce resources in the best possible

* Long-term Strategy Implications/Considerations - Overall Company, Marketing, Production, Finance, Private Label & Distribution, HR & CSR and Regions

General plan of major action to achieve longterm goals Falls into three general categories 1. Growth 2. Stability A separate grand strategy can be 3. Retrenchment

The concept of strategy is a fundamental issue for an organization. A successful organization mostly depends on how much good strategy they have. When there is good strategy, it can take the company to achieve its goal and vision quite smoothly. However, if there is bad strategy, the company can be in dangerous situation. Sometimes it can collapse as well. But good strategy is not only about vision and goals; it is a force of challenges that need to be achieved foe an organization. From Rumelt’s point of view, he mentions that Good strategy should be simply manages to meet the challenges an organization faces. It is not about achieving goals but moving the organization forward. Good strategy is all about implementing action plan to move forward in the most productive way possible.

“The best strategy for a given firm is ultimately a unique construction reflecting its particular circumstances.”(Michael Porter). This assignment will focus on fabricating fundamental strategies suitable for a particular industry and a specific organization’s situations, and the different dynamics that managers face when implementing them. Mainly looking into two particular industries namely emerging industries which will be addressed in section a, and Turbulent, high-velocity Industries which will be addressed in section b of the assignment discussing extensively the appropriate strategies firm must adopt to achieve their corporate goals.