This presentation discusses the strategies and measures that a company must take to operate effectively in the market. It explores Porter's generic strategies and Ansoff matrix for market analysis and development. The presentation also emphasizes the importance of taking the right measures and steps to ensure efficient operations.
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STRATEGIC MANAGEMENT
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INTRODUCTION ◦Bang & Olufsen is a public limited company and was founded in 1925 by Peter Bang and Svend Olufsen. Bang was focused on technological aspect and Olufsen was in charge of business for the company so that they would be able to make a place for themselves in the market effectively. ◦The presentation is going to discuss the strategies and measures the company must take to be able to operate effectively in the market. ◦The presentation is also going to also discuss the analyses of the market and functioning so that there is going to be higher outcomes which are going to be present.
PORTERS GENERIC STRATEGIES ◦In this framework there are four stages which are present which are cost focus, cost leadership, differentiation and differentiation focus which have to be focused upon by the company. ◦There is good development and innovation which is being present in the market which is going to be good for the overall performance and development of Bang & Olufsen in bazaar. ◦Both the founders have made sure that the company is having a strong based for themselves in the market so that they would be able to develop effective which is a very essential factor. ◦There are a lot of risks which a business has to take but after analysing the market the planning and performance of the company is going to be better.
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CONTINUE…. ◦Bang & Olufsen can also merge two strategies together in order to be able to make sure that the company is being able to compete with the other businesses in the market in order to make the sales increase and the loyalty of the customers be present in the market. ◦Cost focus and differentiation so that the company will be able to make sure that the functioning and decisions are going to be better. ◦Bang & Olufsen can take advantage of the market if they use the rightstrategyinthemarketinordertobeabletooperate effectively which is a very essential factor making the business be able to grow.
ANSOFF MATRIX ◦Bang & Olufsen is going to use diversification so that they would be able to operate effectively and efficiently in the market. ◦The competition in the market is increasing therefore it is essential for the organization to be able to operate effectively which is going to be a great factor. ◦In Ansoff matrix there are four stages which are market development, market penetration, diversification and product development. ◦Bang & Olufsen is improving their products from time to time so that there is going to be higher operations.
CONCLUSION ◦From the above presentation it can be concluded that business in the market have to make sure that they are taking the right measures and steps in order to be able to operate effectively. ◦Using the right measures is going to make the planning and actions be at lesser risk and the organization will be able to operate effectively and efficiently in the market as well.
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REFERENCES ◦Barney, J.B., 2017. Resources, capabilities, core competencies, invisible assets, and knowledge assets: Label proliferation and theory development in the field of strategic management. The SMS Blackwell handbook of organizational capabilities. pp.422-426. ◦David, F. and David, F.R., 2016. Strategic management: A competitive advantage approach, concepts and cases. Florence: Pearson–Prentice Hall. ◦Ferreira, J., Mueller, J. and Papa, A., 2018. Strategic knowledge management: theory, practice and future challenges. Journal of knowledge management. ◦Koseoglu, M.A., 2016. Growth and structure of authorship and co-authorship network in the strategic management realm: Evidence from the Strategic Management Journal. BRQ Business