Essay On What Is Strategy

Essay on What Is Strategy
Record: 1
Title:
What Is Strategy? Authors: Porter, Michael E.1 Source: Harvard Business Review; Nov/Dec96, Vol. 74 Issue 6, p61
–78, 18p, 1 Black and White
Photograph, 3 Diagrams, 1 Graph
Document Type: Article
Subject Terms: *STRATEGIC planning *ORGANIZATIONAL effectiveness *MARKETpositioning *COMPETITION *BUSINESS planning
*INDUSTRIAL management *ORGANIZATIONAL change *PERFORMANCE–– Management *BUSINESS models *BUSINESS enterprises
Abstract : : Today's dynamic...show more content...
According to the new dogma, rivals can quickly copy any market position, and competitive advantage is, at best, temporary.
But those beliefs are dangerous half–truths, and they are leading more and more companies down the path of mutually destructive competition. True,
some barriers to competition are falling as regulation eases and markets become global. True, companies have properly invested energy in becoming
leaner and more nimble. In many industries, however, what some call hyper–competition is a self–inflicted wound, not the inevitable outcome of a
changing paradigm of competition.
The root of the problem is the failure to distinguish between operational effectiveness and strategy. The quest for productivity, quality, and speed has
spawned a remarkable number of management tools and techniques: total quality management, `benchmarking, time–based competition, outsourcing,
partnering, reengineering, change management. Although the resulting operational improvements have often been dramatic, many companies have
been frustrated by their inability to translate those gains into sustainable profitability. And bit by bit, almost imperceptibly, management tools have
taken the place of strategy. As managers push to improve on all fronts, they move farther away from viable competitive positions.
Operational Effectiveness: Necessary but Not Sufficient
Operational effectiveness and strategy are both

Get more content on HelpWriting.net

Business Strategy Essay
HND in Business and Finance Unit Name: Business Strategy – 7 Assessors: Egya Gyamfi Student: Sulaiman Adebakin Introduction In this part of the
assignment I will be defining and explaining mission, vision, objective, goals & core competencies, I will also be distinguishing the difference
between each point and the role they play in the operation of a business, I will be reviewing the issues involved in strategic planning and explain the
different planning techniques. 1.1 Explain strategic contexts and terminology – Missions Visions Objectives, Goals, Core competences About Walkers
Walker is a British snack food manufacturer operating in the United Kingdom and Ireland and to a lesser extent on the European...show more content...
There are many different types of objectives such as long–term and short term objectives. Long–term objectives focus on the desired performance and
results of the organization on an on–going basis. An example of a long term objective setting out customer service goals by doing this you will be able
to make sure that your organization aims to receive positive customer service feedback. Short–term objectives are concerned with short–term
performance targets that the organisation is working towards in pursuing its strategies. Short–term objectives tend to last up to six months or a year.
Core competence The core competences of an organisation are the things that the organisation is particularly good at, that is, the resources, processes
and skills which give it a competitive advantage. It is very important to identify and build on these core competences because they are what enable them
to stand out from other organisations. Apple being one of the most well–known brands will mean that customers will have high expectations on their
products. Apple having distinctive features on their mobile phones (IPhone) will enable them to have a competitive advantage on their competitors. A
competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing
greater benefits and service that justifies higher prices. 1.2 Review the issues involved in strategic

Essay on Decision Making Strategies
Strategic thinking is an essential leadership skill. Our learning team has learned to consider our current decision–making strategies, and examine our
options for choosing the best strategy for any situation be it one–sided, compromise, collaboration and deciding–by–majority rule.
As a learning team we will identify any problem someone on the team may have such as being shy, not very talkative and hesitate about having to
stand in front of the class while presenting our presentation. Being part of a well functioning learning team identifying the problem(s) and wanting to
do something about it is the first step.
Analyze all parts of the situation to figure out what is stopping a team member(s) from getting what the team need to solve the...show more content...
This step helps you to think about the risks involved with making a decision. No matter what you try, there is going to be some uncertainty involved.
Choose the solution that the entire learning team likes the most and try it.
Review the results. Think about what happens. Brainstorming usually works best with a group. The purpose of brainstorming is to let everyone voice
their opinions and say what is on their mind to better identify possible solutions to a problem. When working in learning team especially a team
where everyone may or may not be working together for the first time. It is important not to make any judgments about an idea. You want to encourage
everyone to get involved no matter how far out his or her idea seems. No put–downs. Let every team member participate. It is important not to belittle
any ideas that may be presented. Someone should write down all the ideas. Don't leave any ideas out, no matter how crazy they seem. Keep your mind
open to all ideas, both your own and others.
When the team has tried all ideas, crazy, outlandish, and otherwise, we make a rough draft and finally evaluate what ideas are real possibilities and
what ones should be dismissed. As we narrow down the ideas, we will consider how an idea might be seen and understood in another way that might
be useful. Eventually, we want to end up with a great number of solutions, something like 3 to 5 of them.
It might be the case that we can even mix and

Marketing Strategies Essay example
Price, product, place and promotion, the four Ps of marketing, are fundamental for successful marketing communication. One of its goals is building
and reinforcing relationships with clientele, retailers and other people who the company markets their products to. But the main objective is to reach a
target market and affect their behavior through informing, convincing and reminding. They must reach out to new consumers and persuade then them
to purchase their product, while at the same time they must preserve their current customers. But the no matter how good the promotion, it can never
substitute for quality, enormously high prices or inadequate retail distrabution....show more content...
(http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)
Environmental scanning, understanding the businesses target market and examining the external environment, also, is integral to determine business
opportunities and threats. To remain in existence, a business must be prepared to change their business strategies. This external environment includes
market trends and the social, political and economic environment.
(http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)
A product typically has a four stage life cycle, with includes the introduction, the growth, the maturity and the declining stages of the product.
Technology generally has a shorter lifespan. Therefore, new product must be introduced earlier in the product's life span. (http://www.udel.edu/alex
/chapt12.html#life)
The introductory stage is when a new product is introduced to the market. A new product includes new models of an item that has already been in the
market. During the introductory stage of a product there is a very high failure rate. It varies from 60%–90%, depending on the trade. (http:/
/www.udel.edu/alex/chapt12.html#life) During this stage the company's marketing objective is to let the target market know of its existence. Push and
pull strategies, with ads and coupons, must be used. (http://www.learnmarketing.net/promotion.htm)
The product enters the growth stage next. As the product starts to be accepted by the target

Marketing Plan and Strategy Essay
Marketing Plan and Strategy
1.0 Executive Summary
The proposals that we are going to depose are a planning of continuous action in order to confront the challenges, which BT confronts. The most
important factor is considered to be the fact that the marketing environment changed rapidly after the deregulation of the telephone industry. Up to then
BT was operating as a monopoly, ignoring the competition and ways to face it.
Our intention is to achieve the already given targets and also prepare BT for an opening to new horizons. In addition, in order to face the fast changing
environment we have to introduce within the companies activities like cross selling and e–marketing.
A new era is at about to start,...show more content...
The code name we gave to our project is ВЎВҐLow BapВЎВ¦: the sound of boots of an army when is marching in the battlefield. With this name we
compare the business corporations of the present with the huge armies of the past. In this way, we could consider BT as a big army of the past, which
has to be kept in a continuous march so as to meet our targets both in short and long–term. Regarding the number of the consumers that are involved
and the size of funds, which are going to be used, BTВЎВ¦s strategy will be an example that may have both a positive or negative effect to the Global
business field in the future. It is up to us to build BTВЎВ¦s fame as an innovative strategic planner or another bureaucratic plodding giant.
3.0 Situation Analysis.
Before giving our proposals and suggestions, we are going to highlight the key aspects we observed when we were analysing the current situation.
These can be mentioned as the most important factors that determine our strategy and their presentation will help you to comprehend the status quo as
we estimated it from our own experience.
3.1 Market Summary.
The market in which we are going to be activated is defined from the borders of the UK. However, Britain is considered to be one of the most
developed countries in the world, so it is really difficult to study examples of other

Strategic Management Essay
Strategic Management
Introduction
To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper, managers need advanced processes they feel
will facilitate the optimal positioning of the business in its competitive environment. Such positioning is possible with strategic management because
this process improves preparedness for unexpected internal or competitive demands.
Therefore, strategic management is an all–encompassing approach for formulating, implementing and evaluating managerial decisions in a way that
permits the business to reach its objectives.
For a strategic management plan to be successful, however, every manager should:
Clearly see the need for change
Be...show more content...
John, 44–59).
Understandably, organizations with diverse operations due to multiple products, markets or technologies also tend to use more complex strategic
management systems. Despite differences in detail and degree of formalization, the basic components of the models used to analyze strategic
management operations are very similar.
The strategic management process is based on the belief that businesses should continually monitor internal and external events so timely changes can
be made. To survive, firms must be able to identify and adapt to change. This involves timely planning, directing, organizing and controlling of the
strategy–related decisions and actions of the firm (Camerer, 195–219).
The strategic management process is sometimes improperly perceived as a unidirectional flow of objectives, strategies and decision parameters from
management to the employees. In fact, the process should be highly interactive since it is designed to stimulate input from creative, skilled and
knowledgeable people working at every level of the business.
Tools Used in Strategy Development
This section very briefly describes several key tools that can be used during the course of strategy development and strategic planning. The list is not
intended to be comprehensive but to illustrate the types of tools

Pricing Strategy Essay
Appropriate Price Strategy Price strategy is an essential and most vital element that is involved in the marketing process. Pricing a product to low
would affect the bottom line negatively. On the other hand if the price of a good or service is too high, then nobody will purchase them. The key is to
research and compare all available pricing strategies and choose which the best one for a particular situation. Prices have always been the center of
human interaction ever since traders have been in existence. It should come to no surprise that all companies in different industries spend countless
time figuring out how to price their products and services competitively. Examining factors that may impact the development of our marketing...show
more content...
The demand curve is the relationship Demand curve is defined as "the relationship between the price of the good and the amount or quantity the
consumer is willing and able to purchase in a specified time period, given constant levels of the other determinants," according to the UNO Center for
Economic Education. In other words, you must determine how likely the average customer within your target market is to purchase your specific
product at a given price. This is typically accomplished through the use of an equation in which quantity = a – (b x price). The calculation of the cost
that is associated with manufacturing and distributing the Eaton tablet in which includes the cost of labor and overhead in addition to the fixed and
variable cost that is included with the manufacturing of the Eaton tablet. With this an evaluation of external factors which can be impacted the ability
to sell the tablet. Using an analysis such as PEST analysis, which consist of political, economic, social and technological factors which may impact
the organization can be a tool that may be useful when evaluating these factors. Identifying the pricing objective, and being specific to the goal of
pricing strategy. Choosing either being a premium or an economy price would simply offer better services at the same price as competitors. With this
strategy, being able to find the appropriate price for the Eaton tablet can be made easy as long as the study of current trends and

Differentiation Strategy
The next option is a broad differentiation strategy providing products or services that offer benefits different from those of competitors and that are
widely valued by buyers. The aim is to achieve competitive advantage by offering better products or services at the same price or enhancing
margins by pricing slightly higher. Differentiation may be achieved in a number of ways. The product may incorporate a more innovative design,
may be produced using advanced materials or quality processes, or may be sold and serviced in some special way. Often, customers will pay a higher
price if the product or service offers a distinctive or special value. Differentiation strategies offer high profitability when the price premium exceeds the
costs...show more content...
IKEA and these partners are focusing on improving children's rights and they are promoting responsible forestry, better cotton cultivation and
reduction of CO2 emissions. These also increase the reputation for IKEA. Innovation You can also attempt to position yourself as the innovator in
your particular market. Strive to be the first to offer new products or services, or offer creative promotions to attract customers and keep them
coming back. Customers may choose you over your competitors if they expect to see something new and different each time they enter your
establishment, as opposed to the "same old thing" offered by the others. IKEA is having a product strategy but in order to have a competitive
advantage in the market. IKEA could become a more customer focused company in certain countries. This could help them come with more
customers focused and more innovative products which might result in a higher competitive advantage in many different new markets they wish to
operate in future, or are currently operating in. For example, Americans prefer to store most of their clothes folded, and Italians like to hang. The
result was a wardrobe that features deeper draws for U.S. customers. * McDonald's understood that the parent was making the purchasing decision,
most likely based only on price. So they put $0.5 toy in with the hamburger, French fries and Coke. Then they gave it a special name, calling it a
Happy Meal. Then they marketed it to the

Strategy as Revolution Essay
Summary of Strategy as a Revolution
By: Hamel Gary
Harvard Business Review, Jul/ Aug96, Vol.74, Issue 4
1. What are the main issues addressed in the article?
Hamel's central thesis is that strategy development must be seen as a revolutionary action within an organization and goes onto list 10 attributes of
such an action. His premise is that revolution is what is required in an age when incremental change is not enough to secure a position in the market
place. Radical views are what are needed in order to find and establish new marketplaces. He uses examples such as The Body Shop, Ikea, and Dell.
The attributes for strategy can be summarized as imagination, subversion and power to the people. Essentially these summarized the...show more
content...
They must see what argument is needed and develop their ability to press it. Facilitation means that they will be able to guide and manage groups as
their plan is worked out and put into operation. Corporate surveillance means they understand the power structure of the company, the depth and
limitations of management, and the management perception of problems such as what it worries about, what keeps it awake at night, and what it would
change once the advantages of change are explained to them.
3. How is the article relevant to the course and to the subject of strategic management?
Recent developments in existing industries along with trends in nascent disciplines such as nanotechnology, genetics, and biomechanics indicate that
organizations must develop a high "capacity for change and rapid learning" in order to create a sustainable competitive advantage.In a global
marketplace, organizations must evolve with the changing conditions and develop strategies that capitalize on emerging opportunities to establish or
maintain leadership positions. By examining the successes and failures of industry giants, forward–thinking executives are likely to recognize the
importance of unleashing the power of innovation and imagination to develop a high degree of adaptability. With corporate agility emerging as a
prerequisite for success, this article attempts to provide a strategic framework that allows

Essay On What Is Strategy

Recommended

Recommended

More Related Content

Similar to Essay On What Is Strategy

Similar to Essay On What Is Strategy (13)

Recently uploaded

Recently uploaded (20)

Essay On What Is Strategy