Global Strategy Theory 2022

Running head: GLOBAL STRATEGY
Global Strategy
Name of the Student:
Name of the University:
Author Note:

1GLOBAL STRATEGY
From the readings I have identified three key issues. The first issue is decision
making. One of the main responsibility of executives in an organization is taking tough and
strategic decisions (Courtney, Lovallo & Clarke, 2013). The problems in decision making are
the lack of information to make a completely informed decision and the different biases that
affect the perception of the decision makers. Another issue that emerges from the readings is
the increasing competition in every industry. Due to this reason applying the Blue Ocean
theory in the business strategy and creating an uncontested market place is necessary
(Mauborgne & Kim, 2005). The key to creating this kind of market space lies in invention
and innovation that creates new concepts and products for the market. Another issue that
emerges from the readings is the idea of synergy and difficulty that organizations face in
achieving it. Most organizations operate through many departments and organs and thus,
creating a collaborative approach and keeping a good channel of communication is necessary
which can be facilitated by the practice of synergy (Goold & Campbell, 1998). It helps the
executives to manage the different units and thus businesses run smoothly.
These issues are important in understanding business and corporate strategy. Decision
making is necessary part of every business and the executives and managers are responsible
for taking the toughest of decisions. Eliminating biases and collecting complete information
ensures that the executives are able to make best decisions and create best of the strategy.
Every industry nowadays in overcrowded with suppliers and thus, creating unique products
and strategy is necessary in order to secure a customer base. The blue ocean theory opines
that creating an uncontested market is necessary for maintaining the competitive edge. The
leading companies become the leaders of the market by offering the consumers something
that others cannot (Mauborgne & Kim, 2005). For example, Apple, the leaders of
Smartphones offers dedicated servers and security systems that attracts the premium
customers. Synergy is necessary in every business as it ensures that the organization is