Business Strategy 2

2015 Words9 Pages
Examine approaches to strategr5y evaluation and selection Analyse possible alternative strategies relating to substantive growth, limited growth, and Market entry strategies, and disinvestment strategies IKEA has marketed its products well and has dealt with all the problems easily. But there have been some constraints that came in the way of IKEA and alternative strategies have to be developed for them. These strategies are as follows: Substantive growth: In any business strategy growth is the most important factor. To achieve substantive growth the firm needs to go through a lot of planning. Some of the key advantages of substantive growth are: • Exponential Growth: Once IKEA achieves substantive growth in their business then…show more content…
The company continuously evaluates the strategies and plans their action according to the research made. The best part is that IKEA has been very good when it comes to successful implementation of its policies. One of the future strategy that can help reach out to its customers easily is the internet marketing strategy. Among all the marketing strategies used by IKEA the change in socio-cultural trend should be properly analysed and they should use the internet marketing technique effectively. Internet is acting as the best way to reach out to the customers and there are many social networking sites where prospective customers can be found. IKEA already has its website and it just needs to use the social networking websites effectively to promote its products. Since effective promotion acts as the best way to reach out to the consumers IKEA should look out for this option to increase its reach. This is better than any other medium as it is not limited to one specific location and helps the firm to reach out to whole world. Since IKEA operates in different parts of the world this is the most effective advertising tool for them. Understand how to implement a chosen strategy Compare the roles and responsibilities for strategy implementation in two different organisations The roles and responsibilities of for proper strategy implementation differ in different organizations. For
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