The Success Of A Business Strategy Essay example

1238 Words Apr 6th, 2016 null Page
In the the world today, too many people believe that wealth or success is achieved overnight. The truth is, the success of businesses or people is only achieved with time and good strategy. Particularly, a strategy refers to “a planned set of actions that managers take to make best use of the firm’s resources and core competences to gain a competitive advantage” (Cavusgil et. al, 2012, 625). Planning actions with efficiency and exploiting those actions is a major key to success in the global marketplace, and is the heart of business strategy. Setting objectives provides a clear map to achieve a company’s goals. In particular, Lenovo’s goal is to surpass its competitors like Apple and Samsung, to become the leading personal technology company in the world. Companies like Lenovo are a perfect example of how a company can become a part of any industry with the right strategy. Founded in 1984 by a group of 10 engineers, the multinational technology powerhouse, Lenovo, had a humble and slow beginning delivering computers by bicycle. (Lenovo Story, 2016) In 2004, the president and CEO of the company, Yuanqing Yang, acquired IBM’s personal computing division, immediately making Lenovo the number-three PC maker worldwide. (book) Since the acquisition of IBM, Lenovo has only been further expanding in order to create an economy of scale to compete with other companies in the industry. This move by the company exemplifies the transitional strategy (Cavusgil et. al, 2012) . Since 2010,…

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