Sparkle With Steph
Abstract
` Sparkle with Steph has an opportunity to experience stability in the handmade market. Other company's within the same industry have closed to save costs. To continue the success within the organization this paper will identify the value discipline, generic strategy, and grand strategy, and a recommendation that will help Sparkle with Steph continue to succeed in a fluctuating market.
Strategic Choice and Evaluation Sparkle with Steph continuously faces decisions selected from the factors that would make the company more attractive to align with the company's vision. The organization can overextend itself when attempting to provide the best service, quality product, and affordable cost, which could result in failure. It is important that the company uses strategic planning to focus on objectives for long-term preparation and success. Sparkle with Steph has become established in the handmade industry, but to continue to grow it is important that long term objectives examined. This paper will identify the best value discipline, generic strategy, and grand strategy Sparkle with Steph.
Value Discipline An alternative approach to generic strategies referred to as value disciplines resulting from strategies …show more content…
centered on delivering superior customer value. The following sections introduces the three value disciplines to help identify the best value for Sparkle with Steph. "Companies that specialize in one of these disciplines, while simultaneously meeting industry standards in the other two, gain a sustainable lead in their markets" (Pearce & Robinson, 2013) p. 198 para. 2).
1. Operational Excellence: From production to delivery of the product to customers at a competitive price with minimum convenience. This approach helps a company follow a strategy that helps with the success of the company in the industry and focuses on efficient operations.
2. Customer Intimacy: Products and services are made based on the needs of the customer. The company that follows customer intimacy responds to the need quickly and will spend money to build long term customer loyalty.
3. Product Leadership: Focus on improvement to produce continuous state of the art product and services. Requiring the company to challenge and take risks through creativity, innovative decisions, and pursue new solutions.
Decision- Customer Intimacy
All three of the value disciplines are important, but aligned with Sparkle with Steph's process customer intimacy is the best decision. The organization focuses on customization and one-on-one customer relationships to create the best product. Customer intimacy entails of independent relationships between the organization and the customers. Creating individual relationships brings about customer loyalty increases and may recommend Sparkle with Steph through word of mouth.
True customer intimacy will arrive through aligning the product to the needs of the customer. For example, when a customer contacts Sparkle with Steph the customer will provide a list of questions for the owner to answer, the conversation continues until a need is met. Creating a relationship between the customer and the owner.
Generic Strategy This strategy is comprised into two sections. Determining potential of a business and hot the company can achieve objectives.
1. Cost Leadership: Leaders depend on capabilities to achieve and sustain low costs in the shoe industry.
2. Differentiation: Appeal to customers that have an interest in particular product quality.
3. Focus: Low cost base attends to the target market needs.
Decision- Differentiation
Differentiation strategies create a unique product for a variety of customer groups.
Low cost is a strategy that is incorporated into the Sparkle with Steph's culture towards a driven organization. For low-cost differentiation provides customers with a selection of product at competitive prices. To market product, "advertising plays a major role in a company’s development and differentiation of its brand, many strategists use celebrity spokespeople to represent their companies" (Pearson & Robinson, 2013, p. 197 para. 4). This strategy will enable the company to maintain the uniqueness and knowledge to think outside the box. Providing innovative and creative products will help the organization receive more from the generic
strategy.
Grand Strategy Grand Strategy coordinates and sustains the efforts directed towards the long-term objectives. There are a total of 15 grand strategies, which provide a direction for strategic actions and tactics. This section will not provide detailed information on each of the 15 strategies but highlight the best alternatives for Sparkle with Steph, such as product development, innovation, and concentrated growth.
1. Market Growth: Low risk creates new product offerings based on the current product.
2. Innovation: Creating a new product that attracts consumers and supports complementary strategy. Innovation stiffens competition and shifts from innovation to market competence.
3. Concentrated Growth: Emphasizing growth by focusing on sale increases of current product and services using distribution channels.
Decision- Market Growth
The company uses consumer friendly services with current customers. The company has a relationship with consumers that are open to products and personal product preference. This strategy will help the company reach out to new markets through advertising, word of mouth, social media, and consumer reviews. The organizations loyal consumers will remain excited about the product Sparkle with Steph offers that she may be unaware. To develop in new markets it is necessary to sell shoes in other markets, such as other fashion forward countries Paris, Milan, etc.
Conclusion
It is recommended for Sparkle with Steph to use operational leadership, differentiation, and product development to implement in the strategic plan. Customer Intimacy will assist Sparkle with Steph to continue to have a relationship with customers focusing on needs based on the product of choice. Differentiation pursues focus strategies to achieve greater separation in the industries market segment. The value of the strategy by the uniqueness of the product will allow the company to charge a higher price, which the price will cover extra costs incurred for the new product. Market Growth invests in the research and development of offering a new innovative product. Leading the company's advantage in a competitive market.
Reference
Pearce, J. A. & Robinson, R. B. (2013). Strategic Management: Planning for Domestic and Global Competition (13th ed). New York, NY: McGraw Hill
` Sparkle with Steph has an opportunity to experience stability in the handmade market. Other company's within the same industry have closed to save costs. To continue the success within the organization this paper will identify the value discipline, generic strategy, and grand strategy, and a recommendation that will help Sparkle with Steph continue to succeed in a fluctuating market.
Strategic Choice and Evaluation Sparkle with Steph continuously faces decisions selected from the factors that would make the company more attractive to align with the company's vision. The organization can overextend itself when attempting to provide the best service, quality product, and affordable cost, which could result in failure. It is important that the company uses strategic planning to focus on objectives for long-term preparation and success. Sparkle with Steph has become established in the handmade industry, but to continue to grow it is important that long term objectives examined. This paper will identify the best value discipline, generic strategy, and grand strategy Sparkle with Steph.
Value Discipline An alternative approach to generic strategies referred to as value disciplines resulting from strategies …show more content…
centered on delivering superior customer value. The following sections introduces the three value disciplines to help identify the best value for Sparkle with Steph. "Companies that specialize in one of these disciplines, while simultaneously meeting industry standards in the other two, gain a sustainable lead in their markets" (Pearce & Robinson, 2013) p. 198 para. 2).
1. Operational Excellence: From production to delivery of the product to customers at a competitive price with minimum convenience. This approach helps a company follow a strategy that helps with the success of the company in the industry and focuses on efficient operations.
2. Customer Intimacy: Products and services are made based on the needs of the customer. The company that follows customer intimacy responds to the need quickly and will spend money to build long term customer loyalty.
3. Product Leadership: Focus on improvement to produce continuous state of the art product and services. Requiring the company to challenge and take risks through creativity, innovative decisions, and pursue new solutions.
Decision- Customer Intimacy
All three of the value disciplines are important, but aligned with Sparkle with Steph's process customer intimacy is the best decision. The organization focuses on customization and one-on-one customer relationships to create the best product. Customer intimacy entails of independent relationships between the organization and the customers. Creating individual relationships brings about customer loyalty increases and may recommend Sparkle with Steph through word of mouth.
True customer intimacy will arrive through aligning the product to the needs of the customer. For example, when a customer contacts Sparkle with Steph the customer will provide a list of questions for the owner to answer, the conversation continues until a need is met. Creating a relationship between the customer and the owner.
Generic Strategy This strategy is comprised into two sections. Determining potential of a business and hot the company can achieve objectives.
1. Cost Leadership: Leaders depend on capabilities to achieve and sustain low costs in the shoe industry.
2. Differentiation: Appeal to customers that have an interest in particular product quality.
3. Focus: Low cost base attends to the target market needs.
Decision- Differentiation
Differentiation strategies create a unique product for a variety of customer groups.
Low cost is a strategy that is incorporated into the Sparkle with Steph's culture towards a driven organization. For low-cost differentiation provides customers with a selection of product at competitive prices. To market product, "advertising plays a major role in a company’s development and differentiation of its brand, many strategists use celebrity spokespeople to represent their companies" (Pearson & Robinson, 2013, p. 197 para. 4). This strategy will enable the company to maintain the uniqueness and knowledge to think outside the box. Providing innovative and creative products will help the organization receive more from the generic
strategy.
Grand Strategy Grand Strategy coordinates and sustains the efforts directed towards the long-term objectives. There are a total of 15 grand strategies, which provide a direction for strategic actions and tactics. This section will not provide detailed information on each of the 15 strategies but highlight the best alternatives for Sparkle with Steph, such as product development, innovation, and concentrated growth.
1. Market Growth: Low risk creates new product offerings based on the current product.
2. Innovation: Creating a new product that attracts consumers and supports complementary strategy. Innovation stiffens competition and shifts from innovation to market competence.
3. Concentrated Growth: Emphasizing growth by focusing on sale increases of current product and services using distribution channels.
Decision- Market Growth
The company uses consumer friendly services with current customers. The company has a relationship with consumers that are open to products and personal product preference. This strategy will help the company reach out to new markets through advertising, word of mouth, social media, and consumer reviews. The organizations loyal consumers will remain excited about the product Sparkle with Steph offers that she may be unaware. To develop in new markets it is necessary to sell shoes in other markets, such as other fashion forward countries Paris, Milan, etc.
Conclusion
It is recommended for Sparkle with Steph to use operational leadership, differentiation, and product development to implement in the strategic plan. Customer Intimacy will assist Sparkle with Steph to continue to have a relationship with customers focusing on needs based on the product of choice. Differentiation pursues focus strategies to achieve greater separation in the industries market segment. The value of the strategy by the uniqueness of the product will allow the company to charge a higher price, which the price will cover extra costs incurred for the new product. Market Growth invests in the research and development of offering a new innovative product. Leading the company's advantage in a competitive market.
Reference
Pearce, J. A. & Robinson, R. B. (2013). Strategic Management: Planning for Domestic and Global Competition (13th ed). New York, NY: McGraw Hill