Strategy can be described as a set of related actions that mangers take to increase their company’s performance (Hill & Jones‚ 2007). A company’s strategy in undertaken by top management to improve the company’s efficiency and effectiveness to gain a competitive advantage over other companies in the same competitive field. Therefore a company’s strategic planning process can assist them in gaining a competitive advantage. Thompson‚ Strickland & Gamble (n.a) explained ‘a company’s strategy is managements
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1. COMPANY’S BACKGROUND Standard Chartered Bank was formed in 1969 through the merger of two separate banks‚ the Standard Bank of British South Africa and the Chartered Bank of India‚ Australia and China. The Chartered Bank The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853. The bank opened in Mumbai (Bombay)‚ Kolkata and Shanghai in 1858‚ followed by Hong Kong and Singapore in 1859. The traditional trade was in cotton from Mumbai
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Management On Nestle International Ltd MGT: 141 Principal of management Prepared For: Afrins farid Assistant Professor Faculty‚ Business Administration Prepaid By: Km Iftakharul huq | 12310527 | Nusrat jahan | 12310305 | Estiaq hasan | 12310312 | Israt sharmin | 12310217 | Farzana sultana | 12310219 | Rakib hasan | 12310532 | University of Information Technology & Science (UITS) Contents
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Blue Ocean Strategy The high growth and profits an organization can generate by creating new demand in an uncontested market space‚ or a "Blue Ocean"‚ than by competing head-to-head with other suppliers for known customers in an existing industry. The only way to beat the competition is to stop trying to beat the competition. To understand what Cirque du Soleil has achieved‚ imagine a market universe composed of two sorts of oceans: red oceans and blue oceans. Red oceans represent all the industries
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Michael C. Porter‚ the porter’s three (3) generic strategies are very important strategies‚ which can be applied to products and services in any industry or organization regardless of its size. The Three Porter’s Generic Strategies In order to gain competitive advantage‚ Michael Porter developed three generic strategies that a company could use; The Cost Leadership Strategy‚ The Differentiation Strategy and the Focus Strategy. These strategies have been used by various organizations to become more
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Blue Ocean Strategy Abby Taylor HMI 408-B1 Kendall College 10 May 2014 Executive Summary “Have you caught the wave?” For those who have not heard this quote before‚ it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy‚ the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched
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Michael porter developed 3 generic strategies: cost leadership‚ differentiation and focus. They are developed to create a defendable position in the long-run‚ outperforming competition and establish a competitive advantage. However does the generic strategy lead to sustainable competitive strategy? This analysis will explain in detail. Cost leadership means setting out to become the low-cost producer of its industry. Each industry is different and provides with diverse problems. Cost leadership
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Blue Ocean Strategy MKT 421 May 4‚ 2015 William Alan McIntyre Blue Ocean Strategy While blue ocean strategy entails creating new opportunities where one ’s do not currently exist‚ blue ocean strategy does is not exclusive to new business and new segments through R&D. Blue oceans can be created from current industry standards by redefining the customer experience. IKEA is a prime example of how crowding in existing business practices can offer blue ocean strategy to the company willing
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The Strategy of International Business Chapter Outline OPENING CASE: The Evolving Strategy of Coca-Cola INTRODUCTION STRATEGY AND THE FIRM Value Creation Strategic Positioning Operations: The Firm as a Value Chain Organization: The Implementation of Strategy In Sum: Strategic Fit GLOBAL EXPANSION‚ PROFITABILITY‚ AND PROFIT GROWTH Expanding the Market: Leveraging Products and Competencies Location Economies Experience
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THE BASIC COMPETITIVE (Business Level) STRATEGIES Business strategy focuses on improving the competitive position of a company’s or business unit’s products or services within the specific industry or market segment that the company or business unit serves. Competitive strategy raises the following questions: ❖ Should we compete on the basis of lower cost (and thus price) or should we differentiate our products or services on some basis other than cost‚ such as quality or service?
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