--%>
Assignment Help - homework help

What you need to know about Business strategy

It summarize six of my favourite references and thoughts from the world of business strategy. It is a selection of strategic thinking that you are likely to come across in company-wide discussions on strategy

They are specifically:

1.  Three key strategic principles - from Michael Porter's ground breaking paper 'What is strategy?' 2

2.  The Balanced Scorecard method for developing strategy - the process that Kaplan and Norton developed that uses their balanced scorecard as the basis for a company-wide integrated strategy

3.  The 6 P's - a checklist for marketeers to analyse products in different markets

4.  Porter's five forces - a concept again developed by Michael Porter for assessing competitive advantage

5.  Mission, vision and values - three key entities for summarizing corporate strategy

6.  The extended Ansoff matrix - A way of summarizing strategy by showing strategic emphasis for different products in different markets

To put it in context, let's go back to our original definition. This was about defining the best future for the organization and mapping the route to achieve it. The diagram below shows our starting point A and the future situation B which has been chosen as the best strategic choice from several options. In creating strategy, therefore, we need to measure point A (our current situation), define our target (point B) and work out the difference, which tells us what we need to do (the strategic plan).

 

 

   Related Questions in Biology

  • Q : What is branchiae What do you mean by

    What do you mean by branchiae? State few  examples of animals which ‘breath’ through the branchiae?

    		•
  • Q : Valve separating the compartments

    Specify the first heart chamber in which the blood enters? Where does blood go after passing that particular chamber? What is the name of valve which separates the compartments? Why is that valve essential?

    		•
  • Q : How to make planning effective How to

    How to make planning effective While it is true that the planning suffers from several limitations, an organization cannot do without planning. The following steps s

    		•
  • Q : Concentration gradient and active and

    What is the relationship between concentration gradient and active and passive transport?

    		•
  • Q : What is vaccination Vaccination :

    Vaccination: Vaccination signifies exploiting the immune system to defend against infectious diseases. Vaccination is completed to protect against lethal diseases like rubella, mumps, poliomyelitis, tetanus, diphtheria, small pox and so on.

    		•
  • Q : Group Decision Making Techniques -

    1) Interacting groups: the most common form of group decision-making takes place in interacting groups. In these groups, members meet face-to-face and rely on both verbal and Nonverbal interaction to communicate with each other. But interacting groups often censo

    		•
  • Q : Analyze the politicians effect on

    The rash of hurricanes which pelted the Gulf Coast in the year of 2005 resulted in a large decline in gasoline production as several offshore rigs were shut down and several refineries were taken off line whereas waiting out the hurricane. The decrease in supp

    		•
  • Q : Fundamental structure of HIV virus What

    What is the fundamental structure of HIV virus? Explain the function of glycoproteins of its envelope?

    		•
  • Q : Hormones liberated by adrenal medulla

    Specify the hormones liberated by the adrenal medulla? Specify their respective functions?

    		•
  • Q : Main groups in which mammals are divided

    Write down three main groups in which mammals are divided?

    		•