Tuesday, June 18, 2019

Strategic Choice and Analysis Assignment Example | Topics and Well Written Essays - 3500 words

Strategic Choice and Analysis - Assignment ExampleStephen Haines Centre for Strategic Management has built a sweet strategic think system based on systems thinking and calls it the 21st Century Yearly Strategic Management System and Cycle. This system moves beyond planning into implementation. It includes a Plan-to-Plan phase and a Plan-to-Implement phase. The steps include team building and leadership skill building as part of the planning. It also includes a analog process whereby all key stakeholders are involved based on the premise that People support what they help create. This process starts with a Futuristic Environmental scan and defines the ideal vision in terms of mission, values and end outcomes that the organization wishes to set for itself. Only after the statement of much(prenominal) Ideal Future a Current State assessment based on SWOT is taken up to identify the gaps and make strategies to close the gap.As a result of their clients adopting this model, it was fou nd that clients began growing the competitive edge and the organization was much clearer on what their competitive positioning in market place was and found themselves moving positively in that direction, to the violate of their customers.(Haines,2004).Thus this process leans directly into the process of competitive strategy making as it includes environmental scan both-present and future and enables movement in the desired direction. However this systems check process is a very critical aspect and strategic management literature has a common view that good strategies grow out of ideas that down been floating around the firm, and initiatives that have been taken by all sorts of people in the firm. This resource must be drawn upon as frequently as required even in competitive strategy making. Thus a companys competitive strategy would concern primarily with its actions and plans for competing successfully - its specific and focused efforts to divert clients, its offensive and de fensive maneuvers to counter similar efforts of rivals, its responses to prevailing market conditions, and its initiatives to strengthen and improve its market position.Types of Competitive StrategiesThe generic competitive strategies and their standard objectives have been given up in numerous strategic management literatures to include the following(a) Overall Low-Cost Leadership StrategyIts primary object is to find a sustainable cost advantage over rivals, using lower-cost edge as a basis either to under-price rivals and reap market share gains or earn high profit margin by selling at going price.(b) Broad Differentiation StrategyIts primary objective is to incorporate differentiating features that cause buyers to prefer firms harvest-festival or service over rival brands. Looking on the obverse side it implies that an organization must find ways to differentiate that create value for buyers and that such ways should not be amenable to easy copying and matching by rivals. An important differentiation strategy is not to spend more than the guilty price premium, ever to achieve differentiation. This is in fact the theoretical

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