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Will you as a manager be choosing different types of goals for the company? Will your process of external analysis and internal analysis be similar or different? How might your analysis of competitive advantage and competitive…
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Discussion Questions al Affiliation Discussion Questions Chapter Discussion Question 9 How will the strategy process change in each case? Will you as a manager be choosing different types of goals for the company? Will your process of external analysis and internal analysis be similar or different? How might your analysis of competitive advantage and competitive strategy be similar or different in the two companies? Would you expect the two types of companies to have similar or different organizational structures?
The strategy process, as described, follows the five steps which included goal setting, performing both internal and external analyses, identifying the firm’s competitive advantage, designing a competitive strategy, and designing an organizational structure that fits the strategy (Spulber, 2009). The strategy process in Scenario 1 could change in terms of it being a new entrant as an entrepreneurial set-up; as contrasted with Scenario 2 where the firm manifests a rapidly growing trend. As such, goal setting is still the paramount concern for Scenario 1 while it could be deduced that under Scenario 2, the new head of a division, previously set goals are assumed to be clearly set and the relevant steps to consider in strategy management are steps 2 to 5 to determine whether there is a need to revise or redesign competitive strategy in view of changing external factors and internal resources.
As a manager, goal setting must be designed in a most appropriate and effective manner which integrates the abilities of the organization with the opportunities posed in the market. As such, there should be an overall organizational goal that is clearly designed and communicated; not a series of different types of goals which could confuse stakeholders in determining which to achieve.
The process of external and internal analyses for Scenario 1 and Scenario 2 would be different; since Scenario 1 is a start-up corporation with no historical information regarding external factors that impact its operations; nor any internal resources yet that define the organization’s strengths or weaknesses. For Scenario 2, historical information abounds and therefore, the extent and comprehensiveness of external and internal analyses would be greater and more challenging.
Again, for the analysis of competitive advantage and competitive strategy, the two companies would differ in terms of availability of historical information. For Scenario 1, the company is still in the goal setting stage and therefore identification of its competitive advantage and strategy would be premised on what it perceives it could do to surpass those being currently offered in the market by its competitors. On the other hand, for Scenario 2, it being in a rapidly growing stage evidently proves that it has successfully relayed its competitive advantage and strategy in the market and that consumers have perceived the value of the product or service that it offers which apparently surpasses those offered by its competitors in the area.
For this matter, one expects that the organizational structure of these two companies be totally different. The entrepreneurial start-up company is yet to design an appropriate organizational structure based on the goals and the competitive strategy chosen. On the other hand, the regional business has previously set structure given that it could be assumed it possesses different divisions which effectively work in implementing their competitive strategy through the explicitly designed organizational goal.
Chapter 2: Discussion Question 2
How should the company’s management take this information into account in selecting the company’s goals and formulating the strategies to achieve them?
The company’s management should capitalize on the fact that they have the unique manufacturing technique which could be considered their competitive advantage. As such, in terms of goal setting, this organizational ability should be matched with opportunities in the target market and that which maximizes the total value of the firm (Spulber, 2009).
The strategies that should be formulated therefore, take into context incorporating internal resources with external factors that affect the firm’s operations. As emphasized, the organization should use the 4R framework which would provide management with the guiding principles for strategy formulation. This includes acknowledging that management selects the most appropriate course of action given their competitive advantage (manufacturing technique) and the opportunities in their target market: (1) status quo or to remain on current course; (2) repositioning strategy; (3) redesign the organization; or (4) opt to restructure it (Spulber, 2009, p. 39).
Reference
Spulber, D. (2009). Economics and Management of Competitive Strategy. World Scientific Publishing Co. Pte. Ltd. Read More
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