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Success Stories Result of effective strategy - Essay Example

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A faster and a smarter way to succeed is to learn from the success of others. In the recent past there have been two specific strategies that some companies have used and achieved a great amount of success. They are employee empowerment and penetration pricing…
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Success Stories Result of effective strategy
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Download file to see previous pages Employee empowerment is a great technique that is used to unleash the complete potential of the human resources of an organization. Employee empowerment revolves around the idea that employees take personal responsibility and pride in their work if they are given the power of decision making and involved in the overall strategy making. This helps them to take personal responsibility, i.e., empowered employees tend to be more proactive. This will help an organization to reach its goals. Companies empower employees by creating a supportive environment and reducing the barriers inside an organization.
Best example of Employee Empowerment at use is Google. Google has tasted tremendous success by using the employee empowerment strategy. The main challenge ahead of Google after it became such a huge success was to continuously innovate and differentiate itself from the competition. But a traditional approach would limit employees to work an innovative and new idea until and unless it was approved to be a potential product. Google overcame this by empowering the employees to speak up when ever they had a new idea irrespective of the idea being related to their actual work.
Google believed that it was not just necessary to encourage employees but empower them to change the world. Any resource needed for the employees to focus was made available. An initiative that highlights Google’s commitment to employee empowerment is the “20 percent time program” (Yap, 2011). This initiative allowed them to dedicate 1/5 of their time in the company to work an idea of their interest. The result of this strategy has been astonishing as it has helped Google to come up with many new products that have given the company a new identity. An example of this is Google News which was a result of this strategy. Employee empowerment strategy leads to specific action as it helps to improve the morale of the employees, job satisfaction and motivates them to perform better. Employees identify with the ideology of the company take pride and personal responsibility. This leads to action from them to better the overall productivity (Bailey, 2009). The problem of innovation could also have been tackled in a different way. Employees can be given power to form their own teams with whom they can innovate. This team must be given all the resources and the power needed to start and complete a project from scratch before it is pit forward for approval. Penetration Pricing Penetration pricing is a marketing strategy that a company uses in order to penetrate a market and increase the market share. In this strategy, a company prices its products or service at a lower cost than the normal with an intention to gain greater and faster market acceptance or to increase the already existing market share. This strategy in most cases can be short term and in some cases can be a long term strategy. This strategy also discourages any new company entering the niche market (Longenecker et al., 2005). Sun Microsystems used the penetration pricing strategy in order to increase its market share in desktop software segment which was mainly dominated by Microsoft. The pricing of products of SUN Microsystems was set at a price of 40%-50% of that Microsoft. This helped the company achieve a better market share and hence increase the business. This strategy was adopted as SUN Microsystems had found it increasingly difficult to penetrate the desktop software product. The theory has lead to action from the mass customers as they could now get genuine software at ...Download file to see next pagesRead More
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