Article Review: Strategic Frameworks for Business Decision Making

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This report is an article review that examines three strategic frameworks discussed in the context of business management. The review focuses on the frameworks of opposing forces, managing forces, and competitive advantage, highlighting their roles in decision-making and strategy implementation. The opposing forces framework is presented as a tool for maximizing value, while managing forces focuses on improving the overall scenario by entering new markets and setting new visions. Competitive advantage is analyzed as a key element of differentiation, emphasizing the importance of product quality and features in satisfying customer needs. The methodology of the review is descriptive, drawing on the author's years of practice and secondary sources. The findings highlight the importance of strategic frameworks for long-term business success, the existence of tools beyond traditional methods like SWOT analysis, and the usefulness of the TOPHAILORS tool within the opposing forces framework. In conclusion, the report emphasizes the vital role of these three forces in managing firm effectiveness, gaining a competitive edge, and differentiating products to meet client requirements.
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Running head: ARTICLE REVIEW
Article Review
Name of the Student
Name of the University
Author note
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ARTICLE REVIEW
Introduction
The article helps in the analysis of the three kinds of strategic framework which are
useful at the time of decision-making along with implementation of the respective strategies.
In this aspect, the involvement of the strategy will be based on the analysis of the strategy
which will be used as the lecturer and consultant in the university. The three forces which
will be explained in the review of the article includes the opposing forces, managing forces
and the competitive advantage which will play a vital role in managing the different
operations. The competitive advantage is inclusive of identifying the perceived value which
is differentiating aspect.
Objective and Purpose
The primary objective of the given paper was to present and analyze the three forces
as presented by the author on the subject of Business Management. During his study, the
author had presented a set of three different frameworks with respect to the formation of the
decision making as well as implementing the different decisions as well. For this reason, the
primary purpose of the paper is to present an analysis of the different frameworks and define
their usefulness in the realm of the firm.
Literature Review
As commented by Will (2008), the first framework deals with opposing forces which
is the approach related to problem solving as it will maximise the added value to the
organization. As opined by Will (2008), it can be analyzed that while a firm tries to expand
its market share, the opposing forces can be used which will assist them in using the
aggressive pricing strategy along with raising the sales and profitability in the market.
However, on the contrary, Will (2008),has commented that the potential disadvantage of the
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ARTICLE REVIEW
opposing forces is that the competitors can react in a strong manner which can be caused due
to the loss of the share in the market.
Additionally, Will (2008), has commented that the second framework named
managing forces which could be improving the overall scenario through managing the
products of the company while entering the new market. It will be helpful for the company in
setting a new vision and it will be beneficial for the overall growth as well. As opined by Will
(2008), the main motive of the managing forces is to set a new strategic vision which will
provide new opportunities for the company to gain and communicate the vision
appropriately.
Furthermore, as commented by Will (2008), it is regarded as the improving the
overall competitive advantage in the market through perceiving the differentiation aspect.
The differentiation plays a major role in the organizational success in which the main concern
is to satisfy the needs of the customers. Will (2008), has opined that the differential value is
the most crucial element which emphasizes mainly on the quality of the products and the
features of the same which will prove to be positive and it will engage more customers
towards purchasing the products in the market. However the author has opined that although
the competitive advantage is essential, however, the firms require to make the profits
adequate which will improve their brand image in the market.
Methodology
The style of the paper can be essentially described as descriptive in nature. No
particular methodology or research style can be defined or identified with respect to the fact
that this paper proposes the different business strategy frameworks which are ideally used by
the different companies or can be used. As strategy forms an integral part of the business, all
organizations need to make use of different strategic tools which will go a long way in
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ARTICLE REVIEW
assisting them to make the decision regarding the adoption of a particular strategy and also
assist in finding their usefulness. The paper has been written in a narrative format whereby
the author has described the three different forces and these have been followed by the
description of the same. The three different forces which have been described in the paper
can be stated to be Opposing forces, Managing forces and the Competitive advantage. All the
information is a result of the years of practice as adopted by the author and the different
secondary sources like books and articles along with certain journals.
After his study, the author has presented an analysis of the journals and articles
through which he gained an inspiration and combined this analysis with an industry
experience which helped him to develop these tools. Hence, the style of the paper and the
research can be stated to be a mixed research style with respect to which, it can be stated that
the author, has adopted both secondary and primary research procedures.
Findings
The findings of the paper can be stated to be as follows:
The strategy formulation and execution form a crucial aspect of the business and with
respect to this, all businesses who want to succeed in the long run of the business
would be required to adopt a proper strategic framework and with the help of this,
they will be able to ensure that they are successfully being able to formulate strategies
which help them to deal with the different forces of the business.
Apart from the tools which are generally used by the different businesses like SWOT
analysis, PESTLE Analysis and the Michael Porter`s five forces, there exists certain
other strategic frameworks as well which are required to be used by the different
business organizations.
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ARTICLE REVIEW
The paper helped in the finding of these tools. Through the paper, the strategic tools
of Opposing forces, Managing forces, Competitive advantage for a differential value
were identified which can assist different businesses in ensuring success.
Out of these tools, it was discovered that the tool of TOPHAILORS could be stated to
be the most useful tool which made consideration of the forces of Time, Opportunity
cost, Risk, Style, Learning, Incentives, Adding Value, Holistic effects, Perception and
Politics under the Opposing forces.
Conclusion
Therefore, it can be concluded that the respective three forces play a vital role in
managing the overall effectiveness of the firm appropriately. The opposing forces and
managing forces are the essential components as they assist the firm in gaining competitive
advantage in the market. However, on the other hand the competitive advantage is the
essential component which will help in differentiating their products from the competitors
and satisfy the requirements of the clients.
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Bibliography
Will Mulcaster, (2008) "Three strategic frameworks", Business Strategy Series, Vol. 10
Issue: 1, pp.68-75, https:// doi.org/10.1108/17515630910937814
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