In this chapter it explains many ways to strategically have a successful business. All businesses have different approaches to what they feel are the most important strategic approaches to a successful business. Some businesses have similar approaches and some have very different approaches. After reviewing all suggestions i have picked the couple that i feel are the most important ones to use to have a successful business. Miles and Snow 's prospector strategy, the goal approach and the internal process approach are the strategies that i feel make for the best business.
First, lets look at Miles and Snow 's prospector strategy. The prospector strategy is to innovate, take risks, seek out new opportunities, and grow. (pg 63) What business …show more content…
You are taking a risk every time you come up with a new product, open a new store, change your website or even expand into new markets. Your business must also be able to seek out new opportunities. You must be able to recognize new opportunities and not be afraid to go after them. Take McDonald 's for example. Recently they started the breakfast all day menu. They were able to look and realize that there breakfast was in demand and that the people would want it all day. They are the first fast food restaurant to recognize the opportunity to be the first to offer all day breakfast and were not afraid to give it a try. Growing is every businesses dream. Every opportunity to grow is an opportunity to make more money and be known to more people. Anytime a business has the ability to grow and be successful, they will always take it.
Secondly, we look at the goal approach to strategy. The goal approach to effectiveness consists of identifying an organization 's outut goals and assessing how well the organization has attained those goals. (pg 69) In this approach you are watching the businesses profitability, market share, growth, social responsibility and prodcut quality. Every business aims to be profitable. Making a profit is how the business …show more content…
I want to work for the FBI or the DEA. I want to get into one of the above jobs and eventually transfer to Florida. I want to buy a home. I want to find eternal and exteral happiness and contentment in my life.
My first goal is to graduate with a Bachelor in business and technology. My goal is to obtain this within the next year. This will defentialy happen but should a run into any problems, i will just continue to push on until i receive my degree. My second goal is to be hired by the FBI or DEA. There are many risks that can arise with attaining this goal. Its a process of many tests and investigations, along with many interviews. I have promised myself, that if i get turned down once, to never stop trying. I will continue to attempt to get into one of these organizations until i actually do. Should i never be accepted into one of these organization, i will look at it as their loss and push forward in a positive direction for my life. My goal would still be to move to Florida and continue a life there. My life willl always be in law enforcement, and ecentually would like to land in florida in a law enforcement job. My final goal would be to buy a home. Although many risks arise with attempting to buy a home such as finances and availability, i will always try my hardest to achieve this
First, lets look at Miles and Snow 's prospector strategy. The prospector strategy is to innovate, take risks, seek out new opportunities, and grow. (pg 63) What business …show more content…
You are taking a risk every time you come up with a new product, open a new store, change your website or even expand into new markets. Your business must also be able to seek out new opportunities. You must be able to recognize new opportunities and not be afraid to go after them. Take McDonald 's for example. Recently they started the breakfast all day menu. They were able to look and realize that there breakfast was in demand and that the people would want it all day. They are the first fast food restaurant to recognize the opportunity to be the first to offer all day breakfast and were not afraid to give it a try. Growing is every businesses dream. Every opportunity to grow is an opportunity to make more money and be known to more people. Anytime a business has the ability to grow and be successful, they will always take it.
Secondly, we look at the goal approach to strategy. The goal approach to effectiveness consists of identifying an organization 's outut goals and assessing how well the organization has attained those goals. (pg 69) In this approach you are watching the businesses profitability, market share, growth, social responsibility and prodcut quality. Every business aims to be profitable. Making a profit is how the business …show more content…
I want to work for the FBI or the DEA. I want to get into one of the above jobs and eventually transfer to Florida. I want to buy a home. I want to find eternal and exteral happiness and contentment in my life.
My first goal is to graduate with a Bachelor in business and technology. My goal is to obtain this within the next year. This will defentialy happen but should a run into any problems, i will just continue to push on until i receive my degree. My second goal is to be hired by the FBI or DEA. There are many risks that can arise with attaining this goal. Its a process of many tests and investigations, along with many interviews. I have promised myself, that if i get turned down once, to never stop trying. I will continue to attempt to get into one of these organizations until i actually do. Should i never be accepted into one of these organization, i will look at it as their loss and push forward in a positive direction for my life. My goal would still be to move to Florida and continue a life there. My life willl always be in law enforcement, and ecentually would like to land in florida in a law enforcement job. My final goal would be to buy a home. Although many risks arise with attempting to buy a home such as finances and availability, i will always try my hardest to achieve this