BSG Simulation Game Company E Nova

How do we get there? (Strategy formulation – corporate level, business unit level, and functional level)

Andrews, K., 2010. The Concept of Corporate Strategy, 3rd Edition. Financial Times Prentice Hall. [Accessed 13 April 2014]

The three strategies that I would like to incorporate into my project as adapted to the above presentations are the following:

1. To understand the success lying behind a successful business with a large number of competitors

This book makes it easy to implement the strategies in your company. If you know Steve you know he is the ultimate example of

Strategic - Pinpoint the core problem and identify the best solution; identify ways to transform an obstacle into an opportunity

To foster strategic thinking in this situation can be started by identifying the impact of the decisions that are made on the different segments of the facility. Such decisions can impact internal departments, personnel as well as the company’s suppliers and customers. As a manager having a well-articulated philosophy, mission and setting goals throughout the facility will help employees stay focused and incorporate it into their own plans and strategies. To do this you would incorporate it into training and development programs for the employees.

This is essentially the center of the four Stage Strategic Analysis. These questions are broad in scope, such as the questions addressed in the Stage 1 & 2 worksheets on Stakeholders, Mission, Vision, and Objectives. You should also apply those of Chapter 3 & 4, which address the internal and external situational analysis. You should consider the approach suggested using the Action Plan worksheet and the materials covered in Chapters 5, 6, and 7, even though we may not have covered this material in class during the course. Note that Action Plan will generate the most significant recommendations for corporate and business level strategies. Finally you should make certain that there is clear, unambiguous measurable control that can be used to measure success. As you approach this analysis and work through the questions raised, do NOT mindlessly create a report by just answering these questions in the order presented. Instead you should create a response specifically tailored to meet the needs of the executive management of the company being

“If you do not know where you are going, you will likely end up somewhere else” – Yogi Berra. Every organization, no matter what industry that they are in encounters an environment that is rapidly changing and evolving. Organizations must deal with and address rapidly changing technological capabilities, competition from rivals, and the changing tastes and needs of consumers. In order to effectively respond and adapt to the competitive business environment organizations need to have a clearly defined understanding of where the firm currently is as well as an understanding of where they want to be in the future. An organization’s business strategy provides the backdrop and context for the decisions an organization makes in response to the challenges and opportunities encountered within the business environment. Without a defined strategy an organization is forced to make decisions blindly and will most likely end up in a position where it is very difficult for them to continue to maintain their competitive advantage. Therefore, successful organizations must dedicate the time and resources needed to develop, define and clearly communicate their strategy throughout the organization.

As the world is changing with Technology, many companies are finding themselves struggling to stay afloat in competitive market. Whenever new business strategy is introduced in a company, a change has to take place. The way changes are introduced and implemented, determines the success of the change. Before change is introduced, there must be need for change and after implementation of change; there is expectation (Vaughn, 2012).

Instead they suggest that organizations should tailor the perspectives to meet the specific strategic needs of the organization (Keser Ozmantar & Gedikoglu, 2016, p.632) to successfully implement a BSC technique. Regardless of the specific areas, the main goal of the BSC is for management to remain equally attentive to the organization’s strategic areas (Blocher et al., 2016). Moreover, the BSC provides an organized manner for managers to identify the critical success factors, then implement procedures to achieve the CSF and ultimately strategic success.

In summary, the aim of the article “ The Anatomy of a Corporate Strategy” was to acknowledge the nature of corporate strategy and to illustrate the two current major forces which are technological obsolescence and conglomeration that underscrore neccesity for skillfully developed company strategies. Also, this article examined the three factors of great importance in developing an aggressive corporate strategy which are position in the profit cycle of its industry; plans for developing

An organisation bases its strategy according to its environment, and if implemented right will be successful. Firms can target their products by a broad target, thereby covering most of the marketplace, or they can focus on a narrow target in the market (Lynch, 2003). Michael Porter created a generic strategies framework in order for an organisation to gain a competitive advantage in their industry. Porter considers three generic strategies in his framework that an organisation can undertake to gain this advantage. He believes that an organisation falls into either cost leadership (lower cost) or differentiation and once applied in a broad or narrow scope, as discussed by Lynch, creates focus (Figure 1). Furthermore, some organisations undertake in more that one of these strategies and if unsuccessful is called the stuck-in-the-middle strategy. However, if the organisation combines elements of differentiation and elements of low-cost successfully, this becomes and hybrid option and is becoming increasingly popular amongst firms in the modern day.

4. This section includes a number of subsections related to defining strategy (e.g., the type of business to operate, how to structure and finance the company, how to convert competences into competitive advantage, etc.); the formulation and implementation of strategy (intended strategy versus realized strategy); alternative research paradigms (i.e., strategy as an outcome of rational choice, as a craft, or as a ritual); how to operationalize strategy (textual description, partial measurement, multidimensional measurement, and typologies); strategic variables (organizational types - defenders, prospectors, and analyzers); Porter's generic strategies (i.e., cost leadership, differentiation, and focus); conservative (reluctant innovators) versus entrepreneurial firms (aggressive innovators); and strategic missions (i.e., build, harvest, hold, and divest). This rather confusing assortment of terms is made more comprehensible in the graphic below where the various combinations of the dimensions of strategy are indicated as a matrix of choices.

During good times, management should continuously aim to improve their strategies. As technology improved, there are new boundaries for thinking, planning, evaluating and improving.