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The Ways in Which Strategy Implementation Can Be Achieved - Assignment Example

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The purpose of this report is to explore the ways in which strategy implementation can be achieved. The final section of the report will include a SMART framework that will provide a comprehensive view of the way the strategy is to be implemented…
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The Ways in Which Strategy Implementation Can Be Achieved
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Download file to see previous pages This research will begin with the statement that strategic planning for the medium and long-term objectives of a company is a key way to achieve the overall goals of an organization. Medium term strategies aim to provide long-term solutions to the problems of an organization, while long-term strategies aim to provide permanent solutions to the problems. There are five types of market entry strategies that can be used by organizations namely organic growth, mergers or acquisitions, franchising, licensing and strategic alliances. Acquisitions are likely to occur when an organization wants to increase its market share in any new market. Mergers are more likely to occur when companies have comparable financial capital and resources. Franchising is more likely to occur when a particular organization wants to create a positive brand image in the minds of the consumers by providing them with the products and services of the company. Licensing is more likely to occur when an organization wants to enter a country in a quick manner to deal with legal issues relating to trade barriers. Organic entry is a form of entry where the profits from the existing business are used to channel growth into new activities. Substantive growth strategies are related to vertical and horizontal integration. Vertical integration is related to increasing the ownership of the value chain to take better control over marketing operations. Horizontal integration is, on the other hand, related to the collaboration between two similar companies which belongs to the same stage of production. This type of an arrangement helps in closing down of less efficient units by taking advantage of economies of scale.The limited growth strategy has four major components namely market penetration, product development, market development, and innovation. ...Download file to see next pagesRead More
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