Business Strategy - Assignment Example

These analyses have assisted the report to evaluate the critical success factors of the organisation. It has also assisted to design various strategic recommendations for the organisation such as STP strategy, Horizontal and Vertical integration and Ansoff’s Matrix. These strategies have been illustrated to suggest the future activities of the organisation to acquire a strong position in the different market segments of Singapore. Value based pricing and cost plus pricing strategies have been recommended for the new as well as existing product line of the organisation.

These strategies will assist the organisation to attract new consumers towards their products and services to improve their global market growth. The report is focused on analysing the strategic position of Quirky Inc. to recommend a competitive positioning for the organisation in the Singapore market. In the first stage the analysis of the current strategic position of the organisation will emphasise the internal as well as external environmental analysis of the organisation. This analysis will allow the assessment of key driving forces and critical success factors of the organisation.

In the next stage the report will evaluate various strategic options for expanding the business in the Singapore market. It will also provide valuable recommendations to assist the proper execution of the strategies. Quirky Inc. was founded by Ben Kaufman in 2009 and it’s currently situated only in New York. It is a crowd sourcing company specialized in formulating the innovative ideas of the population. The organisation not only encourages inventors to submit their innovative ideas they also assist them to develop new product as per those ideas.

The website of the organisation also allows people to sell their innovative range of products. The organisation has strong partnership with various digital retail outlets for instances, Best Buy