The text discusses strategic trade-offs that are different between Walmart and Nordstrom even though they are in the same industry. Think of another industry that you know fairly well and select two firms there that also have made very different choices for these trade-offs. Describe some of the differences between these firms. What type of trade-off decisions have these firms made?

The text discusses strategic trade-offs that are different between Walmart and Nordstrom even though they are in the same industry. Think of another industry that you know fairly well and select two firms there that also have made very different choices for these trade-offs. Describe some of the differences between these firms. What type of trade-off decisions have these firms made?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

You have been hired by DUNA CORPORATION, a Ghanaian organisation that renders a wide range of services including financial, transportation, hospitality and healthcare services to lead its local and international expansion efforts. Considering that DUNA CORPORATION already has services uniquely designed for its local market, it has become imperative that it makes new additions to its current service offerings, as well as promote this new and existing range of services in at least three new countries. Drawing on your knowledge of strategy and using relevant illustrations, critically analyse four (4) strategies and the key marketing mix decisions you have to make in achieving DUNA CORPORATION’S expansion objectives.
How does Walmart’s partial ownership of TikTok represent a strategic opportunity for Walmart? What advice would have for Walmart on how to make the most of this opportunity?
You have been hired as a Management trainee assisting the Head of Strategy for a multinational Company. Your immediate boss has requested you to brief him on your understanding of the Strategic Management process. In his request to you, he admitted that, there are a number ofapproaches but he indicated his preference for the one adopted by Pearce and Robinson. You are therefore required to answer the following questions in an attempt to explain the strategic management process; 1. In one of the definitions used by Pearce and Robinson, Strategic management was described as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the context in which strategic management could be described as ‘an art’ and when it also could be described as ‘a science’.
1. Strategic alliances are common in international marketing. A great example of strategic alliances would be, the U.S.-based Delta Airlines is in charge of all sales in the U.S. for the KLM Royal Dutch Airlines. Which of the following is true regarding strategic alliances? a. All the other choices are true of strategic alliances b. They share corporate and market goals c. They involve two or more companies d. They tend to be non-equity-based alliances 2. efers to the budget method that is based on past or projected sales numbers. a. Historical b. Objective-and-task c. Benchmarking on competitors d. Percent-of-sales
Summarize pages 271-294 of "The Art of Strategy",understanding the difference between competitive advantage, information an understanding of the basic concepts of strategic management. Then discuss what is interesting, educational, insightful, etc about all of this.Then, Discuss how the reading and these topics coorlates with busineess and military strategies. Link to the book:Moon, H. (2018). The Art of Strategy: Sun Tzu, Michael Porter, and Beyond. Cambridge: Cambridge University Press. https://www.cambridge.org/core/books/art-of-strategy/750631323D026BBC278E608276F6E94B
Provide examples of industries where the Wilson approach might not be suitable, and alternative strategies should be considered.
The pursuit of competitive advantage requires a strategist to discover or build a company’s core competencies which will constitute the vehicle that will drive the implementation of successful strategies. A renowned global consulting firm, McKenzie Consulting Group states that “in order to gain and sustain competitive advantage, an organization should at least possess three core competencies which will form the foundation upon which successful strategies are developed”.Required: 1. Briefly distinguish resources from core-competencies? 2. Choose a Ghanaian or Multinational Company operating in Ghana and identify any five tangible resources /capabilities and five intangible resource/capabilities 3. Take each one of the above named tangible and intangible resource/capability and match each against the VRIN framework, clearly justify why any of the named tangible and intangible resource/capability qualifies to be a core competency? 4. Based on the outcome of your analysis above would you…
Select TWO DIFFERENT organizations i.e UNILEVER AND P&G brief SWOT analyses of both the organizations. In the SWOT Identify SEPARATELY at least TWO Strengths, Weaknesses, Opportunities, and Threats EACH for the selected organizations. Based on the SWOT analyses of both the organizations IDENTIFY THREE strategic choices (Such as Market Development, Diversification, Retrenchment Strategies etc.) for each of the organizations. Based on the Developed Strategic Choices, Compare and Contrast the strategic choices of both the organizations. Briefly discuss the PROS and CONS of the Choices for both the Organizations.
Rockwater, a wholly owned subsidiary of Brown & Bread, a global engineering and construction company, is a worldwide leader in underwater engineering and construction. Norman Chambers, hired as CEO in late 2019, knew that the industry’s competitive world had changed dramatically. “In the 1990s, we were a bunch of guys in wet suits diving off barges into the North Sea with burning torches,” Chambers said. But competition in the subsea contracting business had become keener in the 2000s, and many smaller companies left the industry. In addition, the focus of competition had shifted. Several leading oil companies wanted to develop long-term partnerships with their suppliers rather than choose suppliers based on low-price competition. With his senior management team, Chambers developed a vision: “As our customers’ preferred provider, we shall be the industry leader in providing the highest standards of safety and quality to our clients.” He also developed a strategy to implement the…
Rockwater, a wholly owned subsidiary of Brown & Bread, a global engineering and construction company, is a worldwide leader in underwater engineering and construction. Norman Chambers, hired as CEO in late 2019, knew that the industry’s competitive world had changed dramatically. “In the 1990s, we were a bunch of guys in wet suits diving off barges into the North Sea with burning torches,” Chambers said. But competition in the subsea contracting business had become keener in the 2000s, and many smaller companies left the industry. In addition, the focus of competition had shifted. Several leading oil companies wanted to develop long-term partnerships with their suppliers rather than choose suppliers based on low-price competition. With his senior management team, Chambers developed a vision: “As our customers’ preferred provider, we shall be the industry leader in providing the highest standards of safety and quality to our clients.” He also developed a strategy to implement the…
6. A company wants to add Urban Transport Business to its portfolio. It is proposing a minimum of 100 buses to run on Ten major cities in Ghana The New Business Concept Statement tested positive with sampled population. The feasibility analysis also looks good. You have been consulted to advise on whether or not to go on with the business investment. Using the five competitive forces model, analyse the industry to show its attractiveness or otherwise under the following heading: (a) Threat of substitutes (b) Threat of new entrants (c) Bargaining power of suppliers (d) Bargaining power of buyers (e) Rivalry among the existing firm
Acme Inc. is a large U.S. conglomerate with operations around the globe, including Germany, Australia, Japan, and the U.S. Their product lines include industrial chemicals, construction machinery, and food/beverages. Growth has occurred primarily through acquisition. Performance, as of late, has been somewhat lackluster. They are currently organized by region with regional product managers reporting to regional Vice Presidents, who then report to headquarters. Based on your limited knowledge of the situation, what problems might you expect and how would you rectify the situation? Support your solution. What weaknesses does your solution have?