Weeks 3, 4 and 5 Individual Assignments are integrated to generate a Strategic Management Plan. This is part three of the three part Strategic Management Plan addressing strategy implementation, evaluation and control. The purpose of the Week 5 individual assignment is to allow the student to discuss and explain how the strategies discussed in prior weeks are converted into implementation activities both domestically and internationally, in alignment with legal, social and ethical considerations. Furthermore, the student has an opportunity to explain and discuss how the strategic plan and implementation activities will be monitored.
Weeks 3, 4, and 5 Individual Assignments are integrated to generate a Strategic Management Plan. This is Part 3 of the three part Strategic Management Plan.
Write a 1,050-word report on the company you selected in Week 3, following up on the Individual Assignment of Week 3 (Environmental Scanning), and address the following:
- Strategy Implementation
- Discuss International Strategy.
- Discuss Strategic Implementation.
- Explain the influence of Governance and Ethics.
- Discuss the Company Social Value.
- Discuss Innovation and Diversification.
- Discuss Legal limitations.
- Evaluation and Control
- Explain Strategic Metrics.
- Discuss Key Financial Ratios.
Cite at least 3 scholarly references.
Format your paper consistent with APA guidelines.
Strategy and Competitive Advantage
Competitive strategies help the organization move to the next level. For the institution to attain competing plan, it must adopt, formulate and implement a line of action. In formulating a strategy, an examination of either corporate or business strategy gets looked. Corporate policy refers to the leading strategists used in the organization. On the other hand, business strategies-competitive strategies involve middle and low-level employees, their skills and competencies. Most importantly, our analysis seeks to look into Google strategic evolution involving competitive advantage, strategic alliance, vertical approach, and also look at the formulation networks used during their establishment.
Establishment of the long-term goals and objectives
In strategy formulation, the company gets faced with a series of decisions to make. There are decisions on the goals, objectives, core-competencies, capabilities among many others. However, it is a fallacy to assemble that a strategy only involves a short-term goal. Plan at times includes long-term objectives for organizations growth and development. In coming up with their goals, and path, Google ensured that they focused on technology as their primary activity. Bill Gates, the founder of Microsoft, sought the services of the colorful company thereby acquiring it and thus making the path distinct (Barney, 2014). There are a series of issues worth investigating in the business. The strategy formulation markets pursued, the unique value of the entity, capabilities and value addition matters all form very vital subjects in the goal-alignment.
To formulate in a layman’s language refers to create. Strategy formulation refers to chatting a pathway in the design and the creation of a long-term objective that goes in a long way to promote the well-being of the entity. The most vital aspect in strategy evaluation refers to the environmental analysis. Google has to keenly look at their surroundings to come up with the best options for the articulation and the assessment for study (Osarenkhoe, 2015). In looking at the environment, close interest needs to get taken on both the internal and the external environment.
The internal environment points to factors within the company that the employees and the fraternity have some control over. They can get easily changed suppose a mistake is committed. On the other hand, the external environment looks at factors beyond the reach of the employees and the organization at large. An example here refers to how Google company deals with legal suits or ethical matters. These are matters that are beyond the company. If a client decides to sue the business, it’s entirely beyond their reach.
The markets pursued
The company under study would seek the areas of technology. The technological field is vast, and therefore the organization may need to outsource some expertise to discharge specific duties. Examples of markets targeted by the company include the software provision services and installation, the innovative use of computer networks, the use of application devices and software both in the phone and laptops and finally the introduction of a global village concept amongst every corner of the earth.
Unique value offered in the markets discussed
The company must show that what gets produced is worth the consumers time. The strategy here shall involve differentiation approaches and price discrimination concepts. One uses Google services knowing very well the worth of its contents. Therefore, the company has almost reached all corners of the world through team play and creating efficient and efficacies market and service delivery avenues. Also, the diversification in other areas like phone production goes in a long way in executing one of the best alternative value for the business (Husted, Allen & Kock, 2015).
Resources and capabilities needed
A strategy can get referenced to a course of action whose end game points to the attainment of the institutional goals through the use of optimal resources. Google requires massive installation and many other assets to operate. Supplies get the key to the performance of the organization. An example of support needed for the efficient operation includes the human resource. Employees conglomerate the backbone of the companies’ excellence at all levels (Husted, Allen & Kock, 2015). It is, therefore, a useful thing t attribute the whole Google success to their employees. Most importantly, a look at the capabilities lands the strategists to the leader. In the hands of their able leader, the company has enjoyed massive success and aligned his skills, power, experience and works to that of the institution.
How the company attains value and competitive advantage
Value analysis gets achieved in several forms. Cost could get sough form the suppliers. Additionally, customers constitute a source of value creation, and lastly, the organization itself may create value. The three organs develop a relationship that when followed makes the company prosper. Though the loyalty to the brand, Google company has its suppliers rely on the positive public image to many suppliers and lastly make the company leadership watertight. Competitive advantage refers to the niche identified and exploited. The organization has attained competitive benefit in many ways. The one that runs beyond all points to the creation of a talent center. Here, talent gets harnessed for the continued innovative ideas of the company.
Business management strategy
Business strategies narrow own to a target audience in the provision of goods and services. The business strategies look at the feature in the design, the product line the costs and the procedural alignments when making the fate of the company. Here, we see the differentiation and cost strategies, vertical integration, strategic alliances, competitive advantage and corporate strategy.
Differentiation and cost strategies
Differentiation strategies put it that the products must become unique to appeal to the narrow target market. In doing so, quality must never get compromised. Google ensures differentiation by coming up with very lovely procedures and convenient access methods to the internet. Another strategy-he cost strategy aims at keeping the price at an affordable level and also not compromising on quality. For example, the access to Google services especially in cyber cafes seems cheap since one needs maybe one dollar to get the services. However, a significant market gets reached a go.
Corporate strategies refer to the plans that ensure long-term sustainable business and also operational fonts. Here, the CEO looks at many factors but most significantly a look at the growth strategy makes the whole procedure vital. The business portfolio should thoroughly receive a buildup that enables it to perform daily functions and as a whole rather than as segments. Google has over the years grown to become the renowned tech giant across the 56 contrasts.
It is a technique used by a particular firm in their pursuit of gaining controls over both suppliers and distributors. The company takes such action to ensure that the technology put forth and the collection expenses go down. Additionally, supplier and distribution channel get secured.
The case herein involves the business seeking the services of a sister firm to undertake a project then revert to its previous operation. A strategic partnership as opposed to a joint venture in that it is temporary and must get the required resources pooled to achieve the desired goal of undertaking a project plan thus promote the whole institutional operations (Ozmel, Robinson & Stuart, 2013). For example, when Google wishes to do a project like a cable connectivity in Africa, it might temporarily seek the services of Microsoft Corporation to achieve its goal.
Competitive advantage expanded
Ultimately, just as discussed earlier, the organization enjoys quite some milestones. The strides made have all or mostly gotten attributed to the technological adjacent that comes with the whole saga. With advanced technology, every company staff gets acquitted to face head-on challenges due to technology issues. Google is ahead of many telecommunication and network provider industries due to some policies input at inception. Such include the constant upgrade to the newest technology (Barney, 2014).
Barney, J. B. (2014). Gaining and sustaining competitive advantage. Pearson Higher Ed.
Husted, B. W., Allen, D. B., & Kock, N. (2015). Value creation through social strategy. Business & Society, 54(2), 147-186.
Osarenkhoe, A. (2015). Analysis of the Process of Strategy Formulation and Implementation in the Vattenfall Group. In 16th International Academy of African Business Development (IAABD) Conference, Nairobi, Kenya, May 12-16, 2015.
Ozmel, U., Robinson, D. T., & Stuart, T. E. (2013). Strategic alliances, venture capital, and exit decisions in early stage high-tech firms. Journal of Financial Economics, 107(3), 655-670.