Strategic Business Analysis Paper : Mara 466

the difficulty of strategy execution and the tools managers can use to make strategy happen. As the title

Chapter 6 – Strategy Formulation: Situation Analysis and Business StrategyChapter 7 – Strategy Formulation: Corporate StrategyChapter 8 – Strategy Formulation: Functional strategy and Strategic Choice

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).

Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill. Retrieved August 20, 2011, fr

The purpose of the paper is to research and understand how the changes of globalization and technology have impacted the Airline industry. This paper will also apply the industrial organization model and the resource-based model to determine how the Airline industry earn above-average returns. This paper will explain how the Airline industry’s success is through its mission and vision statements with Southwest Airlines as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts are to the overall success of the Airline industry.

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).

You can have a brilliant business strategy. But the value of even the most brilliant strategy is a function of the effectiveness and efficiency of its execution.

The literature research reviewed in this paper attempts to address the topic of strategy implementation. The paper tries to establish an academic case for previously researched material on this subject by reflecting on the diverse views published in the literature. The different views expressed combine to formulate research to establish relevance as well as importance in this step of the Strategic Management Process. In order to identify and discuss existing data and developments in strategy implementation, over twelve articles in scholarly academic journals containing “strategy implementation” or “strategy execution” as the key words were

An organisation’s strategy plays an important role of providing direction of where company wants to be and how best to allocate the company’s resources to meet its objectives. The formulation of business strategies has evolved over the years and has been made more difficult in recent by the uncertain operating environments and global financial crises.

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;

This paper begins with a summary view to develop the concept of strategy and why its implementation is difficult. The following sections then cover the core discussion of this paper to support the aforementioned

Strategy can be defined as being different from one’s competitors, finding the race to operate and accomplished it. According to Michael Porter (1996), while becoming better at what you do is desirable, it will not benefit you in the long run because it is something other competitors can also do. Strategies for organizations are originally developed by Michael E. Porter in 1979 by introducing the five forces model. A company can identify the industry profitability and attractiveness by analyzing the five forces of Porter (Johnson et al., 2008). And then a reasonable strategy can be set up in line with the strengths and the weakness of an organization is able to create a plan for a stronger position for the organization within its

Alfred Chandler(1963) defines strategy as ‘ the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals’. And Michael porter(1996) sees it as ‘Competitive strategy is about being different. It means deliberately choosing different set of activities to deliver a unique mix of value’.

‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment

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.