Strategic Formulation Case Solution

Implementation of strategy:

The developing strategy will not be of any use if it is not implemented in the company. The company should define the roles and duties of every person within the organization in order to effectively implement the strategy and to achieve the desired results. However, without implementing the proposed strategy, the company’s efforts will be of no value.(Friis, 1983)

Evaluation:

In this last step, the company is required to monitor and evaluate the progress of the whole plan and identify the loopholes and procedure that requires immediate actions and abandonment. Furthermore, the company should continuously evaluate the progress of process in order to achieve the goals and objectives. (Friis, 1983)

Define the organization

 

Define the strategic mission

 

Define the strategic objectives

 

Define the competitive strategy

 

Implementation

 

Evaluation

 

Business level strategy:

Business level strategy is the detailed actions of an organization that are carry out in order to provide value to customers and to gain a competitive advantage by utilizing core competencies. Furthermore, business level strategy is concerned with company’s position in an industry relative to the competitors. The core of the business level strategy is customers therefore; the company should consider who will be served, what needs have to be satisfied, and how those needs will be satisfied. However, there are four strategies that are being used by the companies on order to establish a competitive advantage over competitors.(Teece, 2010)

  1. Cost leadership
  2. Differentiation
  3. Focused cost leadership
  4. Focused differentiation

Cost Leadership:

Organizations often compete for the customers on prices. In this, organizations provide low prices to its customers as compared to its competitors that help them to attract the number of customers towards their products and services. However, it requires continuous efforts to lower the prices relative to competitors in order to successfully become a cost leader in a market. Moreover, customers also want uniqueness and quality in the products with low prices and the company who met these criteria is considered as the low cost leader.(Tanwar, 2013)

Differentiation:      

In this strategy, the companies provide unique features and characteristics of products rather low prices. Differentiation achieved through high prices, superior customer service, product innovation, and technological advance features etc.(Sharp, 1991). Moreover, differentiation could be achieved through lowering buyer’s costs, raising buyer’s purchases, and sustainability. However, differentiation requires extensive organizational efforts that could bring innovations and advancement in their products and services.(Tanwar, 2013)

In this the company not only competes on a low prices but it also focus to serve the small segment of the market to offer products and services. The primary goal of this strategy is to focus on a particular buyer group or the segment of the market and to serve these areas more effectively than broad based competitors.(Tanwar, 2013)

Focus differentiation:

In this strategy, organizations not only compete on unique products features but also focus on the small market segment to compete more effectively than other competitors in the market. (Tanwar, 2013)……………..

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