We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

A choice of a certain strategy in business - Essay Example

Comments (0) Cite this document
Summary
The essence of strategy formulation is coping with competition. Competition in an industry is rooted in its underlying economics, and competitive forces exist that go well beyond the established combatants in a particular industry…
Download full paper
GRAB THE BEST PAPER
A choice of a certain strategy in business
Read TextPreview

Extract of sample
A choice of a certain strategy in business

Download file to see previous pages... Management strategy Abstract A choice of a certain strategy in business is the determinant factor of a future success. Under conditions of turbulent environment there is a need for businesses to react properly to various changes in the global context of the world. On the example of case-studies of different companies and the challenges they face with, this paper underlines the necessity to develop a more flexible and multi-sided strategic decision making. The main concepts for further research were borrowed from theoretical developments of Mintzberg (1998), Johnson et al (2008), Child (2005) and others. The specific question of the research study is : “….. adopting a simple profit-maximising perspective ..... can have positive impacts for a firm .....”. This claim is considered in terms of emergent and prescriptive approaches. Such companies, as Microsoft, Nokia and PowerCo emergent approaches are correlated with strategic decisions to increase their profits. The strategic developments within the modern companies are dynamic and flexible. This trend can be explained by the necessity for the companies to be more responsive in the global business world. Further on, we should underline the importance of financial and organizational issues of every firm and the company for a proper development of their future management strategies. Introduction Under conditions of the modern globalization there are evident trends of convergence and unification. Strategic decision making should be based on mutual understanding between the managers and employees and all parties involved should be ready to react to the immediate changes in the world. Current ‘management techniques’ are challenging and they should be considered in detail by the managers and the employees within every company and a firm with respect to the specific features of the inner structures of their organizations. The strategic management is a helpful tool for “choosing the right place for defining a unique position, making clear trade-offs, a tighter fit; it involves a comprehensive approach to managing all important aspects of the company's internal environment and it therefore significantly differs from other management techniques” (Child, 2005). Business planning and development strategies if developed under conditions of a dynamic environment should be focused on management strategies, which are responsive for structural, processing, systematic and cultural environmental changes. This discipline implies activities planning which are relevant to the orientation and functioning of the corporation. Profit-maximization perspective in the emergent approach of strategic management is a crucial technique for the modern managers and it should be noted that the contrasting strategy is the perfect example of discussion about profit-maximization policies. The field of contrasting strategy is a perfect field for focusing on owner-managed firms and professionally managed firms in their relation to profit maximizing perspective. The objects and behaviors of different firms may differ, but at the same time it is necessary to mention that profit maximization is “an oversimplified models of competitive interaction” (Volberda and Elfring, 2001). There is a close relationship between economics and strategy. In accordance with Mintzber (1992) “as never before, [strategic management] academics have adopted the language and logic of economics.” In the context of neoclassical economics a profit is the maximizing entity, which enables inputs transformation into outputs. Still, there are many opponents of profit-maximization perspective, because the modern companies are more concentrated ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“A choice of a certain strategy in business Essay”, n.d.)
Retrieved from https://studentshare.org/business/1395842-strategic-management
(A Choice of a Certain Strategy in Business Essay)
https://studentshare.org/business/1395842-strategic-management.
“A Choice of a Certain Strategy in Business Essay”, n.d. https://studentshare.org/business/1395842-strategic-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Global Business Strategy
Many companies simply modify their domestic business strategies by translating promotional brochures and product – use instructions in to the language of the host nations. A global marketing perspective can be appropriate for some goods and services and certain market segments that are common to may nations.
8 Pages(2000 words)Essay
BUSINESS STRATEGY
The author of the essay focuses on certain factors of the Nestle's business policy. It is mentioned that in order to continuously meet the consumer demands and the lifestyle changes, Nestle keeps itself updated on technology through constant Research & Development. Besides, tt invests in technology and has a low impact on the environment.
5 Pages(1250 words)Essay
Business Strategy
The company is good at stimulating needs for its product offerings which is one of the reasons why it is one of those leading in its industry when it comes to differentiation strategy. Apple Incorporated started to create its name in its industry by competing with IBM’s personal computing product lines.
14 Pages(3500 words)Essay
Business strategy
There has to be certain motivating factors or strategic purpose which leads to progress. Honda Motor Company is a Japanese multinational company which was initiated by Soichiro Honda and Takeo Fujisawa in 1948, in the city of Hamamatsu (Honda Motor Co., Ltd., 2013a).
5 Pages(1250 words)Essay
Business strategy
Strategists are supposed to prioritize all such objectives, so that there is clarity and ease of decision making in situations where there is an apparent clash of objectives. While planning for long term objectives, the company will have to remain
4 Pages(1000 words)Essay
Business Strategy
The political environment of UK is favourable for business from the angle of stability and security. Suppliers had accused the supermarkets of unfair business practices like extended credit demands, suspension of
14 Pages(3500 words)Essay
Business Strategy and Decision Making
approaches with regard to their strategic measures in order to gain sustainability along with achieving competitive position over the growing number of rivals (Ansoff, 1991). The traditional concept of strategic management is one of the critical aspects to achieve continuous
8 Pages(2000 words)Essay
Strategy : choice and impact
Chang is initiated in the course of time for survival and growth of a firm. It is found that most of the organizations undergo some kind of change during their operations. Radical
10 Pages(2500 words)Essay
Strategy choice and change
These change contexts can clearer be identified with the transport engineering division (TED) of Ascension plc. The change contexts that organisations
11 Pages(2750 words)Essay
Business strategy - business game
Simulation games are especially important in the field of managing businesses as well as the corporate strategies (Sharif & Ranchhod 2009, p. 3). The blending of content curricular and design simulation technology gives the students risk-free opportunities that test
12 Pages(3000 words)Essay
Let us find you another Essay on topic A choice of a certain strategy in business for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us