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

Strategic Management Paper - Assignment Example

Comments (0) Cite this document
Summary
During the last three years Auxilium Pharmaceutical has experienced accumulative losses that exceed $150 million. The current strategy the company is using has not been very effective. One of the reasons for the firm’s lackluster performance is that the company’s main two product lines are specialized products…
Download full paperFile format: .doc, available for editing
Polish This Essay98.6% of users find it useful
Strategic Management Paper
Read TextPreview

Extract of sample
"Strategic Management Paper"

Download file to see previous pages The value discipline approach was created by Michael Tracy and Fred Wiersema. The three value disciplines are operational excellence, product leadership, and customer intimacy. Operational excellence deals with having superb operations and executions and execution quality at a reasonable price (Valuebasedmanagement, 2011). This strategy is not aligned with the objectives of Auxilium Pharmaceutical. The company has two patented product one of them, Xiaflex, was introduced in 2011. The company must implement a retail price strategy for its drugs, thus selling cheap or at discounted price is not a possibility. Product leadership is associated with innovation and brand marketing in dynamic marketplaces. This approach would be very suitable for Auxilium Pharmaceutical. The company already has build up some brand value due to its 13 years of existence in the marketplace. The third value discipline is customer intimacy. This approach is achieved by providing superb customer service and customer attention. The use of this value discipline can help the company achieve long term growth. The second strategy that the company can consider to achieve growth is the use of a generic strategy. The generic growth strategy approach was developed by Michael Porter. The three generic strategies are cost leadership, differentiation, and focus strategy. Cost leadership implies attempting to become the market leader in terms of prices in your industry. A cost leadership strategy is not well suited for a pharmaceutical company that sells patented drugs. Drug companies have to invest at least $1.2 billion to develop a new drug. Pharmaceutical companies such as Auxilium Pharmaceutical are given 20 years of patent protection to be able to recover their investment and to obtain a reasonable profit. Auxilium Pharmaceutical should not pursue a cost leadership strategy. The second generic strategy is called differentiation. “A differentiation strategy calls for the development of a product or service that offers unique attributes that are valued by customers and that customers perceive to be better than or different from the products of the competition” ( Mcraigh, 2011). This growth strategy is aligned with the mission, vision, and objectives of Auxilium Pharmaceutical. The third generic strategy is focus. Focus is a hybrid strategy that attempts to achieve both cost and differentiation. Such a strategy is suitable for large companies with multiple products. Auxilium Pharmaceutical only has two products the company is aggressively marketing. The third strategy that Auxilium Pharmaceutical may pursue is a grand strategy. A grand strategy can be defined as a comprehensive long term plan of actions by which a firm plans to change its long term objectives (Businessdictionary, 2011). Some of the ways a company can implement a grand strategy to achieve business growth are joint ventures, acquisition, strategic alliances, divesture and diversification. A joint venture occurs when went two or more companies unite forces to form a new single entity. Prior to China’s acceptance into the WTO in 2001 the only way for foreign companies to penetrate the Chinese market was to form joint ventures with Chinese state owned companies. Strategic alliances occur when two or more companies participate together in a project or business function. For instance in the airline industry it is common for companies to form strategic alliance ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Management Paper Assignment Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/management/1434615-week
(Strategic Management Paper Assignment Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/management/1434615-week.
“Strategic Management Paper Assignment Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/management/1434615-week.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Strategic Management
Change is a reaction to certain substantial risk or prospect which may appear in the business environment of the organisation, both internal and external. In present day, the business context is transforming at a rapid rate. The improvement in cutting edge technology such as massive computerisation and introduction of e-business has generated a significant drive in communication, work procedures, and the procedure of conducting a business.
15 Pages(3750 words)Assignment
Strategic management
The EMI Group manages a major publishing firm (EMI Music Publishing) with offices worldwide. In 2011, the Citigroup took over the financially struggling EMI Music and now the EMI is operating as a wholly owned subsidiary of Citigroup. At the time of this takeover, the EMI Music had held over $4 billion in debt.
9 Pages(2250 words)Assignment
Strategic Management
ship 16 8.2 Puma- Focused Differentiation & Edward Jones- Focused Low Cost Strategy 17 8.3 Harley Davidson- Differentiation 18 References 19 PART A 1.0 Strategic Management A first time learner of management theories might define strategic management as using management concepts to gain strategic advantages for companies but unfortunately there is no concrete definition of the subject.
12 Pages(3000 words)Assignment
Strategic Management Paper
Most companies have the following goals: to attain fast growth, be efficient, profitable, flexible and be able to have a market position which is strong and dominant. Executives who have been involved in the mergers and acquisitions process earlier have realized that success or failure of the whole process depends greatly on the human resource issues.
4 Pages(1000 words)Research Paper
Strategic Management Research Paper
power tools and lawn equipment industry. The mission of the company needs to be different and very clear. The important areas of mission statement include who we are, what is our business, what products do we offer, and why we chose the particular business.
3 Pages(750 words)Research Paper
Strategic Management
The strategies consist of everything that the company expects to fulfill in the future. The aims of the company are to be supported by the different types of operations and functions of the company. All these come under the purview of the strategy. The strategy has different
11 Pages(2750 words)Assignment
Strategic management
Thus, this paper gives a summary of this article and the subsequent implications for public organizations in Qatar. The article appreciates that after years of mixed perceptions towards strategic
3 Pages(750 words)Assignment
Strategic Management-Discussion paper/report (about an Academic Library)
The same notion can be found relevant for academic libraries, which are facing severe challenges to meet the diversified
10 Pages(2500 words)Assignment
Strategic management
This paper will seek to explore how Samsung and Apple seek to achieve better alignment between strategic priorities and corporate policies. In order to achieve this, the paper will use 3 main tools; the Yip’s drivers of internationalization, Porter’s
1 Pages(250 words)Assignment
Strategic Management
y’s goals, secure the interest of the shareholders, create more value for their share of securities in the market, know how the company can generate more value for itself, the geographical scope within which the company should focus in order to grow among others. This is so
8 Pages(2000 words)Assignment
Let us find you another Assignment on topic Strategic Management Paper 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