Understanding Business Strategy: A Reflection on Adnam Company

Running Head: Business Strategy
Business Strategy
Institution
Name
Date

Business Strategy
Business strategy refers to the working plan of a firm for preforming objectives, achieving its
vision, competing successfully and using its business model to optimize financial performance
(Spender, 2014). In this regard, I have been developing the interest in the field of business with
the main focus being the advancement of knowledge in business competitiveness. Therefore, I
find the Adnam Company reflective paper resourceful because it will expound my perception on
the subject. I intend to develop a profound understanding of the Porter’s five forces analysis in
the context of Adnam Company. Proper integration of the five forces analysis into a company’s
framework of operations is likely to earn it a competitive advantage over the other firms in the
same industry (Magretta, 2012).
I have always thought that business strategy is not as important as it would appear in the Adnam-
reflective paper. I believed that identifying a readily available market is the only key aspect in
building a successful business. However, the notion of bargaining power of the buyers and
suppliers, barriers to entry, existing rivalry and the availability of substitutes in a particular
industry has never been so clear to me before I read the Adnam Company reflective paper. I
have always had my own doubts about the applicability and importance of the mentioned aspects
of business strategy hence making the subject worthwhile in the long-run.
Well-established companies are perceived as the strongest competitors in their respective
industries (James & Merchant, 2013). The most obvious aspect that I discovered in the paper is
the advantage of upholding the values of the company which could be reflected through efficient
business conducts in serving the customers. However, it requires the company to ensure the best
quality and taste of its products as compared to its competitors’ products. I learned that good
values of a company could reflect the firm’s mission and vision therefore, putting the company
in a competitive advantage in the particular industry as observed in Adnam’s Company case. I
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