Porter generic strategies

Question 3 “In 1985…Black & Decker…had disjointed international product lines and policies, dissatisfied customers, and a tarnished reputation” (Cummings & Worley, 2008, p. 739). Nolan Archibald, Chief Executive Officer at this time, vowed to make significant changes to his organization. In the following years a worldwide market was created, the numbers of current product models were drastically reduced, and top managers were hired for new product development. Archibald’s dedication to the…

approach involves identifying new opportunities and taking advantage of them and therefore giving an organization competitive advantage which sets them apart from competitors. An organization uses this strategy when there is an opportunity available in the industry and the outcome can be predicted. This strategy also aims to fill gaps in the industry and timing is of paramount importance. It takes a visionary leader to be able to implement this strategic approach. The leader identifies available…

The SWOT analysis stands for strengths, weakness, opportunities and threats is a useful strategic planning tools or method that use for evaluated the internal and external factors that favorable and unfavorable to achieve business’s objective, it is credited to Albert Humphrey. It’s so important for all business to using this tool to analyze situation carefully before taking any decision. This is because SWOT analysis can help a business maximize strengths and minimize weakness and yet to take…

1. Public policy can be defined as steps that the government or any other organisation takes to achieve a certain goal. In this context, it is the government’s decision to act or not to act on an issue. Governments are able to get guidance and accountability from it. Various factors affect decision making, such as values. The public policy process is made complex by issues such as huge amounts of money and value and interests that are deeply held. Policy may be formal or informal. Formal policy…

Q1. Why Information Systems are (IS) essential in organizations? Ans1. Information systems within an organization capture, stores and handle information to create helpful data which will facilitate organization and its workers as well as clients. Therefore information systems are essential within a business to maintain information as well as records that can play an important role in the success of the organization. Q2. Why do systems analysts need to know who the stakeholders are in the…

Today’s global market demands new manufacturing strategies in order to improve the firm’s efficiency and production. In order to overcome the modern day challenges manufacturing firms are taking in to account the management tools and techniques in different forms and names. The most widely accepted and adopted management tool is the lean manufacturing system. It is considered as the best manufacturing practice across countries and industries because of its global superiority in cost, quality,…

Human Resource Strategy A human resource strategy is the overall plan of action that assists in the execution of particular HR functional areas. These functional areas must be aligned with the overall organization’s strategy. These strategies entail four key dimensions: i. People ii. Culture iii. Organization iv. HR systems Aim of HR strategy is to assist the firm in making recruitment decisions which are best for the firm and makes it a competitive one. HR strategy would act as a pillar…

Definition of Event Objectives The main objectives and goals should be the first thing to be considered when planning any event. It is important to know what and how the event is deemed successful. Objectives of any event can range from gaining business and sales, celebrating special occasions, raising awareness for a particular issue, educating others or even raising funds. The objectives of any event should be of a SMART one; as in specific, measurable, actionable, reasonable and…

Introduction A firm’s existence is to maximize profits for shareholders. In order to achieve that, firms seek to reduce cost while enhancing growth. Modern technology has enabled the market to be more efficient and firms may benefit with lower cost for externalizing certain activities. However, in “The Nature of the Firm” Coase (1937) argued on the cost efficiency of using the market compared to using the firm. Firms are often caught in a dilemma of vertical integration or utilizing available…

What is corporate strategy? Corporate strategy is the direction an organization takes with the objective of achieving business success in the long term. Recent approaches have focused on the need for companies to adapt to and anticipate changes in the business environment such as a flexible strategy. The development of a corporate strategy involves establishing the purpose and scope of the organization's activities and the nature of the business it is in, taking the environment in which it…