Wednesday, September 25, 2019

Able Corporation Essay Example | Topics and Well Written Essays - 1250 words

Able Corporation - Essay Example Strategy choice and implementation are the primary determinants of strategy success. The analysis of strategy performance over time provides important diagnostic inputs into the development of strategy choice concepts. The early discussion highlights the importance of matching the strategy choice with the conditions of the environment and the organization's skills and resources. The long-term importance of selecting a sound initial strategy has research support. In order to define the identity of Able Corporation, it is important to take into account the nature of business and market strategies. Research suggests marketing strategy should be conceptualized and investigated within the context of the organizational mission. Most marketing strategy frameworks address the role of organizational mission but few empirical investigations actually take mission into account. Perception of market needs does not mean that an opportunity exists for any particular company (Fill, 1999). Available opportunities must be related to the particular company's resources, including its personnel, financial, and physical resources. Profitable courses of action vary with individual corporate postures and goals. The overwhelming majority of innovative opportunities will be rejected. But it is necessary to screen the many to find the few that do relate to the resources and the mission of the company (Johnson and Scholes, 1998). This function of innovation relates to specifying the company's innovative opportunity by identifying the various practical alternatives that exist to remedy the discovered dysfunctioning. This is a job in which the technician can assume a major responsibility. An analysis of total company operations and methods in the light of market opportunities is helpful in sifting the opportunities to arrive at the few that are most relevant and profitable for the company's current situation (Doyle and Stern, 2006). Because of different organizational goals and missions, each organizational type defines a unique strategic situation. The first group was labeled "mom and pop shops." These firms are extremely small and possess little marketing expertise or resources. The second group are stable, high-payoff companies. These enterprises have achieved some success and may have acquired substantial marketing expertise within a limited market. Such firms have no aspirations for future growth. A third group is composed of growth-oriented small firms. These are new ventures with a mission defined by aggressive growth (Johnson and Scholes, 1998). In order to prioritize the implementation steps, it is important to analyze a current market situation and take into account possible changes and market fluctuations. The extent to which a marketing strategy should be modified over time is an important strategy choice issue. Successful enterprises select and retain a strategy on a continuing basis. This issue has critical implications for the new enterprise, particularly when entering a new product-market where the lack of experience in the market provides little or no direction concerning strategy choice. Entrepreneurship research also provides insight into two important marketing strategy options: strategic alliances and product diversification. Small firms are also utilizing collaborative marketing strategies. In an empirical study of entrepreneurial high-technology firms, small firms at a competitive disadvantage with rivals in their industry were likely to utilize joint ventures or other cooperative strategies to launch new prod ucts (Doyle and Stern,

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