Strategic Management Assignment 2022

Strategic Management
Part 1
1.
Yes, competitive advantage is something that helps the business to be unique within the
market and do good bususiness and hence the strategic capability of the business
should be unique to achieve competitive advantage.
2.
Yes. The new entrants finds it easy to enter the market when the product differentiation
is low and henc the threats of the new entratnts into the industry increase very high in
the market.
3.
Yes. These are two concepts, that is the strategy and the objective. The management
have to make sure that they have two sets of planning which should be different for the
strategy and the objective.
4.
Yes. The company lives on the profits of the company and hence the most important
objective of the corporate has to be the profit generation.
5.
Yes. It is absolutely right that the positioning shows how a firm fights its competitions
because positioning shows how the company positionis itself in the market to face its
competitors.
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Section B
1.
When you dream of luxury, step into our luxurious hotel.
2.
Flying is a dream and we are available 24/7 to make your dreams come true.
3.
Dine in and eat your stomach full without worrying about the calories.
4.
Shop and save, two things at the same time in our hypermarket.
5.
Build your home, which is beautiful as your dream.
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Part 2
Introduction
Strategic management describes the constant preparation, analysis, monitoring, and
assessment which is essential to meet up with its objectives and goals successfully.
Strategic, managerial actions and decisions are essential to figuring out the
organizational long run performance and also demands regular monitoring for virtually
any outside changes, threats or opportunities. It's the proper stepwise process which
include first, environmental evaluation to recognize the present placement of the
business, subsequently strategic planning, formula, or maybe alternatives for making
vital strategic decisions, and ultimately strategic implementation to translate technique
into motion and beyond. Organizations works in a dynamic atmosphere that's replacing
thus and unpredictably creating challenges that are many for the organizatiosn to
deliver and keep the distribution of quality expertise. It's important for the businesses to
have the ability to create as well as implement strategic planning's to make use of every
changing environment. Organizations with strategic management procedures are
usually more productive than those without. Through strategic business planning,
business is able to utilize the readily available opportunities that provides purpose that
is clear, resources, support, and dedication and triumph over the difficulties effectively
to keep smooth business operations. Additional advantages include increased decision
making, resources availability, focus energy, setting priorities, encouraging staff
members to have an active role and inspiration. Strategic management process could in
addition assist the businesses to build new directions or objectives to make changes
that are necessary to remain in conformity with the outside regulatory needs and also
maintain consumer satisfaction at the maximum degree. Such benefits produce the
strategic management process an important component for each group to experience
and keep smooth business functions in the long haul. (Bandura, 2014)
The goals ofthis article isto find out the competitiveanalysis of both Nokiaandapple and
identificationof problems that are possible realizing howthe marketand the
competitionwill change over thenext several years and finallyidentification as well as
instructions learnedfrom Apple's strategiesover years.
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Analysis of both Nokia and Apple
The competitive examination is a statement on the company strategy and just how it
pertains to the tournament. The goal of the competitive evaluation is determining the
pros and cons of the opposition within the sector, tactics which will offer you an unique
advantage, the obstacles which may be created in an effort to avoid competitors from
getting into the market, and also any weaknesses which can be exploited in the product
development cycle. (Burke, 2012)
Value Added: Nokia was revolutionary in hardware and was the dominating force at the
beginning of the smartphone market. Nevertheless, Apple, then Android, saw the
importance of a program. Apple's touchscreen technology altered how people used the
phones of theirs as well as its App store was simple to work with. Perhaps Nokia
displayed a shortage of urgency. In the beginning on the iPhone era, the fall off in
worldwide market share was gradual instead abrupt and its role as the industry leader
was retained by it.
Sustainability: Nokia has got the much needed depth in merchandise offering -
catering to a broad range of customer segments … almost as it would seem modified to
suite preferred configuration. Nokia has established a profile of items over the years
which could focus on every budget needs. Nokia has this particular tendency of
providing innovation derived from client needs and wants, instead of its own and also for
the benefit of innovation. This will keep a great deal of suggestions unchanged for any
forthcoming models. Nokia has global footprint which creates ease of entry to consumer
services much simpler than expected. Through the years, Apple is reliant on Steve Jobs
when the visionary leader, beginning from the perception of putting computer on palms
on the 5th and 4th types of iPhone; however, Nokia has a lot really trusted industry
analysis and R&D function. (Cohen, 2008)
Process to deliverystrategy: Apple's Product Development Process might be just
about the most effective design process ever applied. With the business verging on
getting the world's original 11dolar1 trillion business organization there is lots that
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designers are able to find out from Apple and cause into their very own design
environments. Apple is a notoriously secretive company. In Steve Jobs' period at the
business it will were near impossible to discover about the inner functions of the
company. This is not surprising when a business's industry advantage is its layout
approach. It is well worth keeping it under wraps.
CompetitiveAdvantage:: Brand strength offers companies as Apple good exposure
within the marketplace and also will help develop customer loyalty. The company 's
good branding, together with the interrelationships between the products of its,
encourage buyers that purchase one Apple product to test another. Solutions including
the iPhone, iPad and also Mac reveal exactly the same applications and software, and
also work in a comparable manner, making the Apple item an all natural option when
clients consider an additional device. (Collins, 2009)
Apple has a long established reputation for development and a resolve for building
products that are new. The company created the graphical user interface, initially
utilized in its very own computers, more recently, and, pioneered the iPod music player
and then introduced brand new levels of effectiveness for smartphones. A major
competitive advantage of the business is the ability of its to create innovative products
which reveal exactly the same operating system, applications and software. This
reduces the risk, costs and timescale of product development, allowing the company to
present a stream of products that are new and stay ahead of rivals. Apple's
development program of creating products which complement one another strengthens
customer loyalty and also will help create a barrier to contests, based on the site
Innovation Excellence.
Nokia has effectively developed competencies into core competencies to produce
sustainable competitive advantage. Nokia has become worldwide largest cellphone
developer, for that justification they've to get considerable core competencies attain
naturally competitive advantage. Nokia's competitive advantage is seated on scope,
brand and services. Nokia have core competencies especially organisational tradition
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and research and development, using most to Nokia's obviously competitive benefit.
Although as business leader so they've to be implementing the most effective things
internally in relation to the exterior business, the organisational culture is quite special
among opponents. Some other companies should steer away from the undesirable
image which groundbreaking organisations are simply helpful in small organisations as
well as put into action some of Nokia's techniques to reduce differential performance
between them. Nevertheless, will simply be successful in case you are able to come
across shared dedication and values through the entire organisation like
Nokia.Organisational way of life cannot be easily discovered so this should develop
sustainable naturally competitive advantage until opponents have produced their culture
better. (Csoka, 2007)
Nokia invests a great deal in development and research which is mirrored in its product
and help offering that's exceptional, determined Nokia doesn't just use folks for
development and research, they're dependent on it &; creates their
knowledge base to assist the small business. Nokia's important obviously cut-throat
advantage being brand value as well as product and service offering. Nokia successfully
achieved competitive advantage of its name brand organisational tradition as well as the
values and methods utilized by the company. Nokia's additional obviously cut-throat
benefit consists developing current product designs and furthermore outperforming
rivals through services. this is not inexhaustible, despite Nokia's investments in research
and development. Product development within the cell phone industry will be the main
contributor to advancement, through replacing merchandise sales. This is likely to
function as the scenario since the market has been saturated, hence Nokia won't
maintain the quantity of competition as rival companies will invest a lot more into
research and development to compete. (Ilies, et al, 2006)
Overall, Nokia producing most effective use of its core competencies attain competitive
advantage but do not think it is going to continue to become market leader without
improving its core competencies to meet up with changing demands. Nokia cell phones
have a competitive edge over several other models of handsets. N series phones are
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made by the Finnish cell phone business makes seems to have a massive response
from consumers. Perfect technology utilized in Nokia mobile phones &
consequently they're loved by buyers all around the globe. Amenities & numerous
essential functions have been launched by this brand new gadget out of the business.
(Bossidy & Charan, 2012)
Identification of possible problems knowing how the market and the competition
will change over the next few years
The speed of advancement and change in the mobiles business might be surprising,
particularly in the last several years. The names at the upper part of the market
nowadays were brand new businesses just 10 years back. To endure, an mobiles
organization has to be as adaptable as it's fast. Also to succeed, that business should
have the ability to defeat both emerging and existing issues in the industry. New
innovations and global competition drive rates down. Companies should continuously
be cost efficient to stay successful. More and more, businesses are having to juggle
external and internal sources while keeping within international standards. Operational
burdens are being increased by problems including traceability and also conformity. It's
not uncommon for sub-components and components to venture on a trip which touches
3 or maybe much more continents before attaining the end consumer. (Barrett &
Beeson, 2012)
Leveraging theglobal supply chain is placing much morefocus on provider quality
management. Gettinga good quality plus traceabilityprocess specifically impacts
warranty reserve as wellas post production service hours. Withrapidly changing
customer tastes preferences,the contract and companies producershave to have highly
effective New ProductIntroduction (NPI)procedures in place.Closed-loop communication
between productsales, engineering, and manufacturingis essential to make sure product
launches hit time,volume, and qualitygoals.
Aggregately, financial volatility plus cyclicaldemand cause variations in production.On
an granular level,consumer choice is able to result in surges popular for a private
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company or product. Efficient lean features have to be available to maintain inventory
aimed with demand. Emerging laws and requirements are driving businesses to account
many for Corporate Social Responsibility (CSR) in choices. E-Waste, a popular subject
nowadays, is operating discussions around the disposal of items and the impact of
theirs on the planet. Companies should today think about of the entire product lifecycle
in choices. Although these difficulties might seem daunting, businesses have already
been managing them at some amount for an extremely long time.We think that
combining facets of the value chain with technologies is able to help battling these
challenges, and also catalyze shop floor owners to go businesses closer to an
operational excellence version. (Cohen, 2008)
Identification and lessons learned from Apple’s strategies over years.
There's little doubt that Apple is just about the most successful companies of the whole
century. Along with its countless fans, another testament to its reputation is the large
amount of copycat items which have been created over the years. Actually, some would
state that primarily based upon times past, Microsoft itself owes its popular operating
system to Apple. Nevertheless, it has not constantly been smooth sailing for Apple.
During the 1995, the business was at a constant decline. This was partially as a result
of the point that Mac owners didn't possess a tech or maybe product sales support staff
available. Due to this particular, the Windows era had taken over nearly exclusively. By
2002, Apple was motivated to gratify existing clients and also acquire brand new ones
by concentrating upon advertising efforts in conventional retail stores. Below are several
of the fundamental methods which ultimately required Apple beyond the 3501dolar1
billion mark. (Bandura, 2014)
1. Quality would be the most crucial facet of any advertising plan, since everything
starts with the item or maybe service being offered.
Without quality, no business is able to construct the kind of healthy momentum it needs
develop and also to make it. Absolutely no matter what advertising brilliance Apple had
used, ultimately sub par solutions will do the organization in at last. Above most, some
degree of sophistication is key. This's vital in order to constantly beat the competition.
For instance, there's an unmistakable luxury which prevails interior of Apple Stores. The
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items are interactively shown therefore owners are able to touch and see them, unlike in
numerous additional shops. The beauty of it's that actually the most uncomplicated
services and products are able to give off an air of sophistication. The staff is accessible
and plentiful. Additionally, virtually all of the shops provide free in depth classes on how
you can work with the products of theirs, contributing to the allure of theirs. Doing this
can make every one of their products accessible actually to novice visitors. (Burke,
2012)
2. Consistent branding communications are second strategy used by Apple.
Regardless of where an Apple item is bought, it's similar degree of quality. This puts
forth a branding idea of excellence that's attracted legions of customers that are loyal.
Very much like the dime store monster of days gone by, F.W. Woolworth, Apple set out
to help make their retailers browse acceptable. Every store is exclusively designed so
that there's little doubt that individuals are within an Apple store. While there's
absolutely nothing gratuitous about the layout of Apple's solutions, the business has
managed to make clients feel as although they're dealing with themselves to an elite
merchandise line which epitomizes a degree of luxury like no other person. They're
packed being simplistically attractive, yet constantly do much more than products that
are similar. As an outcome, Apple clients feel special simply for implementing the
products of theirs. This's probably the most ingenious public relations technique in list
advertising history. (Cohen, 2008)
3. Apple has wanted to develop customer enthusiasm.
The grounds for loyalty is enthusiasm. In order for buyers to be dedicated, they have to
be hooked up to the services and products they're utilizing. Every savvy business
marketer understands it's the repeat customer who is going to sustain a small business.
Thus, rather than invest a lot of time chasing after new buyers, make sure that the
existing ones are pleased. Although the word of mouth marketing from pleased clients
can be invaluable, not merely does this make roadway to repeat business shorter.
When a business has fans camped out immediately in the rainfall for many days simply
to function as the very first folks to get products that are new, rock star level has been
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reached by them. By creating fans instead simply customers, a business is virtually
guaranteed a loyal and strong base. In present day competitive marketplace, this's
crucial for every company to survive. Collins, 2009)
Conclusion
Using strategic management as a means to purposefully run the company is able to
work, though they cannot hesitate to assess just how it worked. Summarize the
company’s accomplishment of every set of goals, like a report of previous year’s annual
objectives. Workers are going to respect for being honest, informing them exactly what
the company achieved and also what it really did not. The management may also
describe exactly how they're gon na correct the business strategy this season to
accomplish the other set of objectives. Strategic management starts with composing a
strategy which has long term goals. Assign every goal a deadline along with a technique
of calculating whether it have been have accomplished by you. These are the goals
which drive businesses within the small enterprise. Assign departments or employees to
entire goals or even the component parts of theirs. As with the strategic management,
arrange and also realign resources and employees on the objectives until they are
achieved. Additionally, they need the management staff to bolster the benefits of goal
implementation. Employees should find that meeting the goals of theirs can help the
company do much better and produce a lot more income. Sell advantages of this
particular company growth like having far more money for employee compensation &.
benefits.
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References
 Bandura, A. (2014). Human agency in social cognitive theory. American
Psychologist, 44, 1175-1184.
 Burke, W. W. (2012). Organizational development: A process of learning and
changing. Reading, MA: Addison-Wesley.
 Cohen, J. (2008). Statistical power analysis for the behavioral sciences (2nd ed.).
Hillsdale, N J: Lawrence Erlbaum Associates.
 Cohen, M. (2009). Commentary on the Organization Science special issue on
complexity. Organization Science, 10, 373-376.
 Collins, J. (2009). Good to great: Why some companies" make the leap ... and
others don’t. New York: HarperCollins.
 Csoka, L. S. (2007). Bridging the leadership gap. New York: The Conference
Board.
 Barrett, A., & Beeson, J. (2012). Developing business leaders for 2010. New
York: The Conference Boards.
 Bossidy, L., & Charan, R. (2012). Execution: The discipline of getting things
done. New York: Crown Business Publishing.
 Ilies, R., Scott, B. A., & Judge, T. A. (2006). The interactive effects of personal
traits and experienced states on intraindividual patterns of citizenship behavior.
Academy of Management Journal, 49(3), 561-575.
 Johansson, F. (2014). The Medici effect. Boston: Harvard Business School Press
 Lewin, K., Lippert, R., & White, R. K. (2014). Patterns of aggressive behavior in
experimentally created social climates. Journal of Social Psychology, 10, 271-
301.
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