Strategic Business Analysis

Before we can talk about the Strategy Hudson Bay uses we must first answer the the question of what a Corporate and Business Strategy is and how The Bay inaugurates this into their company;

Firms must consider many strategies when attempting to realize growth. Depending upon the stage of

Stock issuance costs were recorded as a reduction in paid-in capital and are not considered to be a component of the acquisition price.

Due to the growing competition and diminishing market share, companies are opting for different strategies to achieve their survival objectives as well as growth. Companies are thus executing grand strategies to provide their businesses with a clear direction for its strategic actions. These strategies, therefore, aim at both short term and long term sustainability and growth, and they include innovation, market development, product development, and concentration.

"Total Quality Management (TQM) is a participative management style that stresses total staff commitment to "customer" satisfaction (Eskimo, 2001)." Quicken Loans utilizes TQM along with the other management styles to provide the high quality of service to their clients. Quicken Loans expresses Total Quality Management in their ISMs. The ISMs Are: Obsessed with finding a better way, Responding with a sense of urgency is the ante to play and Every client. Every time. No exceptions. No excuses (Quicken Loans, 2008). These three ISMs express the care of their clients and illustrate the things that need to be done to ensure that TQM is still effective and efficient within the organization. Quicken Loans focuses on creating a lifelong relationship with

After review the information on past and estimated in the future, company, products, competitors and branding, I recommend the following strategy:

Cadotte, Ernest R. & Bruce, Harry J. (2003). The Management of Strategy in the Marketplace.

Any company’s survivability in the market place needs to take into consideration both an effective market strategy and non-market strategy. A company’s method of strategically dealing with its suppliers, customers, and competitors is called their market strategy. Non-markets strategy is all the interactions outside of suppliers, customers, and competitors. These non-market entities include, but are not limited to, activist groups, government agencies, legislators, public opinion, and the media. Therefore, a company can have a competitive\effective marketing strategy that places their products or services in the forefront of the marketplace; however there are forces outside of their market strategy that influence their market share. Thus, a

The products with high cost will have less attractive due to higher price. In addition, the automation level is relative low due to the strategy.

Strategic Issue: Throughout the case, it becomes clear that competition may be hindering your product from leading the market. A limited amount of compact company resources and the constant technological advancements may prevent the company from performing to the best of its capabilities. In order to address this issue, we recommend that you investigate our recommendations to increase market share by implementing the strategies that will be discussed in this memorandum.

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

All companies desire to dominate any given market without being outfought or outwitted by rivals. However, the implications of

Compare and contrast the market-based approach and the resource-based view as approaches to competitive strategy. To what extent are they rival or complementary views?

There are five generic business strategies that companies choose from when trying to successfully compete within their respective industries. This is the first choice a company must make, even before deciding an overall strategy. These generic business strategies include low-cost provider strategy, broad differentiation strategy, best-cost provider strategy; focused strategy based on low costs, and focused strategy based on differentiation. These strategies have many advantages as well as disadvantages. Choosing which one to use depends on what market position a company wants to pursue. Deciding to be more offensive or defensive also plays a role in choosing a

“Competitive strategy involves positioning a business to maximize the value of the capabilities that distinguish it from its competitor’s” (Porter 1980:47). A successful business plan requires first and foremost the formation of an appropriate strategy. Through the implementation of a suitable strategy, the company is able to obtain its own industry niche and gain an understanding of its customers (Porter 1985). Whichever strategy is adopted it must be adequately integrated within the firms goals and missions to achieve a competitive advantage (Parker and Helms 1992).