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Strategic Management - Essay Example

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This paper declares that various international and multinational companies that are facing low growth prospects in their own domestic regions are increasingly looking forward to capitalize on the growth opportunities emerging from the new markets. This creates an upshot of increase of competition in the highly connected global market…
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Strategic Management
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Download file to see previous pages Finally, the firms also need to focus on converting their designed strategies into action, so as to leverage the maximum advantage available in the marketplace. Strategic Position It has to be the said that the strategic position of a company highlights the position of the company in regards to its existing competitors in a specific market. The strategic and competitive position of a company can be best explained by using the broad differentiation business model. Source: Hill & Jones, 2012, p. 181 It has to be said that this model categorizes companies into three groups like differentiators, broad differentiators as well as cost leaders. Talking in a detailed manner, it has to be said that the companies that belong to the differentiator category tries to gain the maximum amount of advantage from the market by trying to distinguish its product and service offerings in regards to its competitors. While talking about broad differentiators, it is of high relevance to mention the fact that these group of companies fall in the middle region of the model. It has to be said that the typical behaviour of these group of companies comprises of designing of business strategies that helps in better discrimination of their products as well as effective lowering of the cost structures (Hill & Jones, 2012, p. 180). These category of companies focuses on operating on a specific region since it provides the companies with a significant competitive advantage in regards to designing their strategies on the lines of effective segmentation, targeting and positioning. This particular fact also helps the company to attain a decrease in the price of its products and services. Finally, while commenting on the companies that fall in the category of cost leaders, it can be...
This essay stresses that the inter relation that exists between strategic position, strategic choice and the process of converting strategy into action can be best explained by discussing US based organization Southwest Airlines. It can be said that the Dallas based carrier is highly popular in the domestic market of US because of its low-cost pricing of its passenger aviation services. Talking about the strategic position of the company, it can be said that the company has positioned itself as the most efficient low-cost carrier in the market of US. Hence, it can be said that the America based airline company has utilized the tactic of using cost leadership to gain a foothold in the market. This paper makes a conclusion that while discussing the company’s method of implementing the low-cost strategy into action, attention has to be given to the nature of allocation and management of the essential resources of the company. In order to extract optimum utilization of the company’s high-value assets, the company revised the frequency of flights to various routes on the basis of the consumer demand. Also, the company’s decision to cater to secondary airports resulted in reducing the ground time for the airlines, thereby boosting up both productivity as well as profitability (Hill and Jones, 2009, p. 105). ...Download file to see next pagesRead More
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