The Business Model Of The Masters

Organisations today find themselves operating in an environment that is changing rapidly. The process of analysing the implications of these changes and modifying the way that the organisation reacts to them is known as business strategy.

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.

Having a generic business strategy will cover a vast amount of products or services, but in the end will not stand out due to it being so broad. With this type of strategy businesses will find themselves in an undesirable predicament because the consumers of the organization will not have an understanding of the firms core competencies. Incorporating to many strategies as seen from a cost perspective, is not a sound solution for any organization to engage upon. That’s due to the rise in cost will negatively impact value created, by suddenly limiting it. Also, not differentiating between products will cause a

Today’s market demands organizations to have a strategic plan. The purpose of the strategic plan describes where the organization wants their organization to go. A strategic plan is a document used to communicate goals, and the actions needed to achieve those goals. In order to remain competitive every organization needs to innovate to stay ahead of the competition. They need to develop new products and services with increasing frequency. The design of these new products and services must meet, or exceed, customer expectations and at the same time, they must generate an acceptable financial return for the organization. However, any business that does not realize the importance of developing new products will not last very long as a consequence

According to Slack et al. The corporate strategy or business strategy is the guide lines for the whole corporation’s businesses in relation to its markets, customers, and the competitors (2007). In the same context, the same authors discussed the link between the corporate strategy and

Furthermore, in today’s fast-paced environment these strategies still hold true, as smaller companies have more opportunities to compete internationally, because of newer technologies, like the Internet, that allow companies to directly and expedition communicate with their targeted audience. Additionally, understanding the marketplace permits companies to obtain the knowledge to create future strategies to keep their businesses operational and thriving in a rapidly changing

Company strategy is influenced by various things like company mission, vision, culture, its leadership etc. The outside-in perspective suggests that company strategy should not be self-centred but depend upon the external environment since its inception. But inside-out perspective believes that strategy should not build around external opportunities but around company strength. Outside-in strategy looks after the potential market opportunities and built on the expectations of potential customers. It also means standing in the customer’s shoes and views everything company does through the customer eyes (Day & Moorman, 2010). Virgin Atlantic strategy also highlights the glimpse of Outside-in strategy. When the customer travelling in business class were looking for category which would provide much sophisticated service than the present category, Virgin Atlantic introduced very innovative upper class suite which has a seat which was very comfortable as a bed and limo services from the airport for their travellers. This emphasis that VAA does what their customers expects and needs. This kind of strategy is not of short term because superior market positions are difficult to attain in short time, but once conquered can be the source of competitive advantage. Company focusing on market opportunities and building products according to customer expectations can

A business with a strategy will be able to sustain long-term(LT) competitive advantage which will result in better financial returns while giving the firm an overall direction and allowing adaptation, adjustments and learning over time (Modified from lecture 1&2). Hence, it’s imperative for Aquion to have a business strategy such as, porters five forces framework, Core competencies(CC), Resource-based view(RBV) or Value-based approach. Unlike other strategies, Value-based approach looks at the factors consumers consider when coming up with a value assessment

The second strategy I opt would be the Focus on Market Niche. A niche is a focused, targetable part of the business sector. This strategy is implemented

We are aware by now that planning and executing one strategy over a decade is not feasible in today's ever-changing market. In order to be competitive in the market, you must be flexible and move on opportunities that will give you a competitive edge against your competitors.

“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.

The planning school of thought is a strategy that emphasizes the need for an organization to ensure that its business strategy is in alignment with the environment that it operates. In other words, an organization’s strategy must ‘fit’ the environment that it chooses for a business operation. A meticulous analysis of both the internal and external environments is considered in the planning school of strategy. Furthermore, the planning school of strategy often requires details that could probably make an organization not flexible to a market even when conditions demands flexibility (Barnat, 2014). Additionally, this strategy employs organizations to implement various marketing theories and Product Life Cycle in understanding the maturation of the market so that with past trends coupled with

The goal of this paper is to provide key insights and concepts from three strategy books and then begin the strategy planning process for five different products.

The title of the book speaks to the theme that the authors have driven home. That is strategic planning does not have to complicated. The book focuses on the details of what you are going to sell, who are your customers, and how you will face the competition. The authors have divided the book into 5 parts that layout a systematic planning process that has a very “grass roots” approach to addressing how an organization should anticipate and respond to change in their respective markets. In those five sections, the authors describe a strategic planning process through the lens of planning, evaluating, anticipating change, designing a response, and facilitating a plan of action. The first section of the book is titled “Embrace the top priority of management.

All rights reserved. 1–13 Why a Firm’s Strategy Evolves over Time ♦ Managers modify strategy in response to: ● ● ● ● ● ● Changing market conditions Advancing technology Fresh moves of competitors Shifting buyer needs Emerging market opportunities New ideas for improving the strategy Copyright © 2011 by The McGraw-Hill Companies,