competing strategies
WISCONSIN INTERNATIONAL UNIVERSITY COLLEGE
MBA PROGRAMME
COURSE
BUSINESS ECONOMICS
NAME: GEORGE ANKAMAH W.K
QUESTION
Okonko Ltd. Is a firm that produces Good X for both Domestic and International markets. Given the modern global trend identify and explain five (5) strategic options that the management of the firm can adopt to remain competitive. Explain three (3) factors that may affect the adaptation and implementation of such competitive strategies. In the event that the firm is unable to remain competitive in the business world (with rising costs and losses) discuss the options available to the firm.
In today’s tumultuous economy, companies are aggressively seeking to remain competitive. The strategies been used by firms to be able to remain competitive is called competitive strategies. Competitive strategy is therefore concerned with how management formulate and implement strategies to maximize the firm’s competitive advantage in the competitive environment and it is the pivot around which firms revolve in order to compete favorably in both domestic and international markets.
In line with this, Okonko Ltd needs to remain competitive locally and internationally. Therefore, there is the need for the firm to adopt and implement the following five Competitive Business Strategies: Enforce the mission and objectives of the firm to reflect modern global trends. Undertake Industry Analysis to ensure the profitably of the firm. Strategically position the firm Improved resource based and the value-chain management techniques Formulate competitive strategy in line with globalization trends in the global competitive market
i.Enforce the mission and objective statements of the firm to reflect modern global trends. This strategy aims at prompting the firm to re-emphasize the importance and reasons for the company’s existence and ensuring that everyone within the company ensures goal congruence in relation to that mission. In this strategy,
MBA PROGRAMME
COURSE
BUSINESS ECONOMICS
NAME: GEORGE ANKAMAH W.K
QUESTION
Okonko Ltd. Is a firm that produces Good X for both Domestic and International markets. Given the modern global trend identify and explain five (5) strategic options that the management of the firm can adopt to remain competitive. Explain three (3) factors that may affect the adaptation and implementation of such competitive strategies. In the event that the firm is unable to remain competitive in the business world (with rising costs and losses) discuss the options available to the firm.
In today’s tumultuous economy, companies are aggressively seeking to remain competitive. The strategies been used by firms to be able to remain competitive is called competitive strategies. Competitive strategy is therefore concerned with how management formulate and implement strategies to maximize the firm’s competitive advantage in the competitive environment and it is the pivot around which firms revolve in order to compete favorably in both domestic and international markets.
In line with this, Okonko Ltd needs to remain competitive locally and internationally. Therefore, there is the need for the firm to adopt and implement the following five Competitive Business Strategies: Enforce the mission and objectives of the firm to reflect modern global trends. Undertake Industry Analysis to ensure the profitably of the firm. Strategically position the firm Improved resource based and the value-chain management techniques Formulate competitive strategy in line with globalization trends in the global competitive market
i.Enforce the mission and objective statements of the firm to reflect modern global trends. This strategy aims at prompting the firm to re-emphasize the importance and reasons for the company’s existence and ensuring that everyone within the company ensures goal congruence in relation to that mission. In this strategy,