Strategic management: ownership properties - Essay Example

This paper would seek to create an understanding of an aspect of strategic management in relation with Ownership Properties and Prime Properties.This paper would analyze the competitors' strengths and weaknesses in order to create such strategies which would allow Ownership Properties to meet the competitors on an equal footing.Strategic Management is a vast concept which incorporates a number of business activities undertaken in order to achieve the final goals and objectives of the organization.

Strategic Management is defined as the creation, analysis and the evaluation of cross-functional decisions allowing the company to achieve its long-term objectives. Ownership Properties and the competitor; Prime Properties both deal with providing real estate services but in terms of their operational activities and the scale of the operations they differ vastly.Prime Properties is a much larger real estate organization which presently manages 1,500 properties and has established itself as a reputable organization due to its highly experienced workforce and access to a larger resource pool.

In comparison to the above competitor; Ownership Properties (Inc) operate s on a small scale and has an image of providing exclusive services with a greater deal of personal service and recognition than its competitor. In comparison to the above competitor; Ownership Properties (Inc) operate s on a small scale and has an image of providing exclusive services with a greater deal of personal service and recognition than its competitor. This paper would outline a situation and competitor analysis in which both of the aforementioned companies would be compared with regard to their respective strengths, weaknesses and potential in order to determine the positioning strategy each and overall market position.

In terms of the differentiation aspect, Ownership Properties have created a niche for themselves by providing a bundle service package which includes house hunting, investing consultation, property buying and selling etc services. In comparison to its competitor, Ownership has been able to identify its comparative advantage by provision of a number of different services. Prime Properties has access to a better workforce, bigger resource pool and greater spread of operations but this size itself has acted as a deterrent for its progress.

According to the competitor analysis, it is important that each company create its own niche by providing specialized services. Prime Properties is renowned for its provision of quality rental experience, low cost measures but what has to be understood is whether these strengths are enough to offset the competitors' advantages. In this case, that is certainly not true as Ownership Properties despite being a smaller organization has been able to retain its clients and in fact attract those as well who have been loyal to Prime Properties.

This has been done through the successful identification of providing exclusive, personalized services rather than treating the clients as mere buyers of the desired products. Ownership Properties has recognized the importance of having a distinguished servicing policy as only by creating a niche for itself would it is able to establish itself in a market which is dominated by large scale operators such as Prime Operators. An important aspect of the Strategic Management strategy is to align the goals with the different processes and that can be identified through the creation of extensive relationships with the clients.

Only by having such a form of communication which would allow it foster its growth even further would it be able to ensure its survival in a fierce competitive environment. An important aspect of strategic management is assigning the personnel with specific tasks and responsibilities and ensuring that the results are monitored and that the benchmarks are met overtime and in fact surpassed. This can only be achieved if the company ensures that the efficiency is validated and tested.