Aurora

4579 Words Dec 19th, 2014 19 Pages
Growth Strategies, Innovation, Alliances, and Execution
Capella University

Introduction
Thompson & Strickland (2013) believes that a successful organization’s strategy depends on people, capabilities, structure, and execution. Important as well are growth and innovation (P.. 286), which allows an organization to remain competitive.
Growth strategies arise from an organization’s SWOT where clear guidelines identify areas of focus. Achieving this requires innovation and alliances on products and services that will create a competitive advantage. Successfully execution requires a strategic manager who can effectively and successfully drive strategic objectives, then report its performance to the leadership team (Thompson & Strickland,
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Pfizer’s SWOT Analysis (Pfizer, 2013) Innovation theory define when new or existing, large or small companies, individuals or groups identify, create and market new or existing products or services to consumers ultimately disrupting an existing business or create value. Some ideas are born out of a need that ultimately satisfies consumers and some are the next steps that dominate the market. Pfizer’ innovative strategies provide new products such as Lipitor, Viagra, and Celebrex. When two or more organizations create a formal agreement to work together for a specific purpose, they form an alliance. Alliances offer organizations competitiveness in new business industries and shared responsibility in experience and cost. Execution of a strategy allows an organization to identify a strategic manager or management team who will be responsible for five key components: people, resources, structure, systems and culture. The role of the strategic manager or management team is to implement and monitor performance and report to company stakeholders on the status. Because strategy drives an organization’s success, the team should select managers who can aggressively drive the objectives to achieve desired results through three actions:
1. Monitor the progress and performance of the strategic objectives by applying the…