Part 1: Post a Response
"Business Strategy" Please respond to the following:
Read the article titled, "What Killed Michael Porter's Monitor Group? The One Force That Really Matters," located in Week 1 of the course shell. Imagine that you are a manger of the organization you work for, or one you are familiar with.
Examine the major influences that this article will have on your strategy developing process. Provide a rationale for your response.
From the case study, use the five (5) forces framework to determine the level of competitiveness in the luxury goods industry. Speculate on the likely profit potential of the luxury goods industry, given the opportunities (O) and threats (T) underlying the competitive forces in this industry.spective on life.
Part 2: Respond to a Peer
Imagine that you are a manger of the organization you work for, or one you are familiar with. Examine the major influences that this article will have on your strategy developing process. Provide a rationale for your response.
The parts of the article that struck me the most were the explanation of the importance of value-added strategies in succeeding in business today.
"The purpose of business is to add value for consumers and ultimately society."Instead of seeing business - and strategy and business education- as a matter of figuring out how to defeat one's known rivals and protect oneself agains competition through structural barriers, if a business is to survive, it must aim to add value to customers through continuous innovation and finding new ways of delighting its customers."
I work for Verizon. I am not a member of management. However, for the purposes of this post I will pretend to be a manager. All of the wireless carriers in the telecommunications industry compete fiercely for customers - every carriers‘ t.v. commercial talks more about the benefits of switching to "their" company.
Matthew Stewart‘s article encourages me to focus more on adding value to my company‘s customers through providing better quality products and services that continually offer customers better and better experiences while using their wireless devices on my company's network. Especially at a time like this when cable television providers are now beginning to offer wireless services to customers.
Offering faster network speeds, better coverage and working to make wireless technology more useful in the daily lives of people is where I would focus my energy as a member of management.
My strategy would be to focus company energy heavily on innovation, research and development as well as strong customer service to show our appreciation for current customers.