Str-581 Week 4
Growth Realization Alternatives
Distinguishing one 's firm from the alternatives is a major concern for any business. Strategic analysis provides the starting point in the strategic management process organizations use to evaluate and choose the competitive advantages that distinguish them from other organizations within the market. Dominating businesses should also "choose among alternative grand strategies to guide the firm 's activities, particularly when they are trying to decide about broadening the scope of the firm 's activities beyond its core business (Robinson & Pearce, 2009)."
What Companies Must Consider to Realize Growth
Firms must consider many strategies when attempting to realize growth. Depending upon the stage of evolution the business is experiencing these strategies can change. Robinson and Pearce (2009) discuss in detail these stages and strategy changes in Chapter 8 of Strategic Management: Formulation, Implementation, & Control. Here, Kudler seems to be in the growth stage. The growth strategies "emphasize the strengths of brand recognition, product differentiation, and financial resources to support heavy marketing expenses and the effect on price competition (Robinson & Pearce, 2009)." Team C offers three of the strategies in this stage to create a competitive advantage for Kudler.
Functional Area Introduction Growth Maturity Decline
Marketing Resource/skills to create widespread awareness and find acceptance from customers; advantageous access to distributors Ability to establish brand recognition, find niche, reduce price, solidify strong distribution relations, and develop new channels Skills in aggressively promoting products to new markets and holding existing markets; pricing flexibility; skills in differentiating products and holding customer loyalty Cost-effective means of efficient access to selected channels and markets; strong customer loyalty or dependence; strong company image
Production operations Ability to
Distinguishing one 's firm from the alternatives is a major concern for any business. Strategic analysis provides the starting point in the strategic management process organizations use to evaluate and choose the competitive advantages that distinguish them from other organizations within the market. Dominating businesses should also "choose among alternative grand strategies to guide the firm 's activities, particularly when they are trying to decide about broadening the scope of the firm 's activities beyond its core business (Robinson & Pearce, 2009)."
What Companies Must Consider to Realize Growth
Firms must consider many strategies when attempting to realize growth. Depending upon the stage of evolution the business is experiencing these strategies can change. Robinson and Pearce (2009) discuss in detail these stages and strategy changes in Chapter 8 of Strategic Management: Formulation, Implementation, & Control. Here, Kudler seems to be in the growth stage. The growth strategies "emphasize the strengths of brand recognition, product differentiation, and financial resources to support heavy marketing expenses and the effect on price competition (Robinson & Pearce, 2009)." Team C offers three of the strategies in this stage to create a competitive advantage for Kudler.
Functional Area Introduction Growth Maturity Decline
Marketing Resource/skills to create widespread awareness and find acceptance from customers; advantageous access to distributors Ability to establish brand recognition, find niche, reduce price, solidify strong distribution relations, and develop new channels Skills in aggressively promoting products to new markets and holding existing markets; pricing flexibility; skills in differentiating products and holding customer loyalty Cost-effective means of efficient access to selected channels and markets; strong customer loyalty or dependence; strong company image
Production operations Ability to