Week Five Thought Paper
BA 799 - Strategic Management and Policy
Malcolm Saunders The material covered this week in chapter 6 and 7 introduced company diversification and the options of more strategies (Hitt, Ireland & Hoskisson, pp.164-194. 2013). Chapter six discusses company diversification in the realm of how much income is generated from the various products (Hitt, et al., pp. 164-166).
This is something I have never considered. There are types and reasons for corporate diversification. The actions taken regarding diversification are selected with the intent of maintaining, or increasing the corporation's position. Purposely focusing on position improvement to drive profits is the goal. The achievement of this goal is to ultimately increase, retain new customers along with increasing profits and market share. Reaching the pinnacle of ultimate market share and high enough profits to quell and drive out competition is very challenging without multiple product offerings to customers.
As a child one of my favorite holiday past times was spending countless hours and days by myself and with siblings looking through Christmas catalogs. My all-time favorite two were Sears & Roebuck and Montgomery Ward. Between these behemoths there was absolutely nothing that …show more content…
Many of their apparel products seem lackluster in style or variation, my teenage children and my nephew have no desire to wear anything but the name clothing and accessories sold by the store. Perhaps Sears did not have a plan for being the pinnacle of success within their markets and were not prepared to battle or defend their turf. It does not seem that the business market segment selection was flawed as their segments are now employed by Wal-Mart. However, diversification without a corporate strategic plan eventually results in being a also ran and a fade into the memory of
BA 799 - Strategic Management and Policy
Malcolm Saunders The material covered this week in chapter 6 and 7 introduced company diversification and the options of more strategies (Hitt, Ireland & Hoskisson, pp.164-194. 2013). Chapter six discusses company diversification in the realm of how much income is generated from the various products (Hitt, et al., pp. 164-166).
This is something I have never considered. There are types and reasons for corporate diversification. The actions taken regarding diversification are selected with the intent of maintaining, or increasing the corporation's position. Purposely focusing on position improvement to drive profits is the goal. The achievement of this goal is to ultimately increase, retain new customers along with increasing profits and market share. Reaching the pinnacle of ultimate market share and high enough profits to quell and drive out competition is very challenging without multiple product offerings to customers.
As a child one of my favorite holiday past times was spending countless hours and days by myself and with siblings looking through Christmas catalogs. My all-time favorite two were Sears & Roebuck and Montgomery Ward. Between these behemoths there was absolutely nothing that …show more content…
Many of their apparel products seem lackluster in style or variation, my teenage children and my nephew have no desire to wear anything but the name clothing and accessories sold by the store. Perhaps Sears did not have a plan for being the pinnacle of success within their markets and were not prepared to battle or defend their turf. It does not seem that the business market segment selection was flawed as their segments are now employed by Wal-Mart. However, diversification without a corporate strategic plan eventually results in being a also ran and a fade into the memory of