Study on Strategic Management of the Company

Running head: STRATEGIC MANAGEMENT
Strategic Management
Name of the Student
Name of the University
Author note

1STRATEGIC MANAGEMENT
Table of Contents
Chapter 7....................................................................................................................................1
Answer 1................................................................................................................................1
Answer 2................................................................................................................................1
Answer 3................................................................................................................................2
Answer 4................................................................................................................................2
Chapter 8....................................................................................................................................2
Answer 1................................................................................................................................2
Answer 2................................................................................................................................3
Answer 3................................................................................................................................3
Answer 4................................................................................................................................4
References..................................................................................................................................5

2STRATEGIC MANAGEMENT
Chapter 7
Answer 1
Standardization is the process used by the companies to develop, maintain and
promote different type of high standard technologies and processes within the business
organization. Format war on the other hand is stated as a situation in which every company
competes with each other in the market to take up dominance over the other. Standardization
is related to format war because it is only through standard technology and processes a
company can effectively compete in the market with its competitors and succeed in getting
dominance over other companies. Thus, standard technology play vital role in achieving
competitive advantage (Myatt et al. 2014).
Answer 2
Standardization that occurs in the technology and processes of the company have a
beneficial effect on the company. Some of the advantages of standardization a company can
achieve are:
 Help the company to achieve competitive advantage over others
 Helps in reduction of cost of the processes of the organization
 Helps in attracting and retaining good quality suppliers for the company
 Helps in retaining and attracting customer traffic
 Leads of strategic alliances between companies
 Facilitate research and development by the company
 Helps the organization to be well informed about its competitors in the market
 Reduction in inconsistency