Case Study Hatch Asia

(P1.1) In formulating a business strategy, it is a crucial factor to determine what the organization’s mission, vision, objectives and core competencies are because it sets an idea on what the organization should do and what purpose do they have in the industry to contribute to their customers. It also helps what markets should they target and what action should they plan to have a competitive advantage.

Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).

A company creates value for its customers and attempts to differentiate its offerings from its competitors in the market. The performance goals/metrics are set by leadership which is concurrent with its business strategy.

corporate-level strategy you think is most important to the long-term success of the firm and

The problem statement may be framed as a question, e.g.: What should Joe do? or How can Mr. Smith improve market share?

solution to any problem, there are multiple that needs to be put together to make one

needs a new business strategy to remain competitive and on path to achieve its vision, mission,

1. Achieve an increase in the market share to 50% or above in the next 7 years

Option A - Increase diplomatic efforts in the region and maintain relative combat power. Option B - Continue current diplomatic efforts and increase relative combat power. Option C - Increase diplomatic efforts in the region and increase relative combat power.

By using Ben and Jerry's as am example, I aim to detail and show that by having the characteristic's that make up an effective mission, vision and values of a firm that can be developed for the long term and withstand the test of time. Developing and defining the mission, vision and values of the firm and thus the development of a strategic vision act as the foundations (pillar 1 of the 5 pillars in Strategy formulation) for which a firm can craft and execute its strategy. Having clear mission, vision and value statements allows for the setting of objectives, provides guidance and acts as a benchmark for the crafting of a company's strategy to achieve those objectives and in the implementation of its strategy.

To understand any strategy for any company, it is important to know what the key strengths, weaknesses, opportunities and threats are for the company.

Since it is a local brand, it can introduce more variety in their offering by introducing some local

Corporate strategy is central to achieving this through making assumptions of an organisation's external environment, its resources, and formulating a plan of how they should operate. The organisation upon which I have conducted my research: Hewlett Packard (HP), have recently been reported of having

5. Invest more fund in R&D department and create the trend of new product lines.

A strategy is said to be a plan that is made for the long term success of a product or brand. It is extremely important to have a strategy in order to figure out a direction towards which any company is able to focus all its resources efficiently and achieve desired outcomes. Formulating effective strategies is a considerably long process in itself that combines analysing several factors, situations and issues that are already present in a company and looking to improve on them alongside trying to implement various innovations and ideas to collectively create a direction towards which they can move and direct the resources available to them.