The paper "Strategic Success of Mark Hill, Australia Supermarket, Fortescue Metals Group Limited, The Indian Tea Company" is a great example of a management case study. Strategic planning plays a significant and key role in the achievement and survival of every type of business organization. This happens specifically in small or large enterprises, which are considered as the backbone of any economy in the present international and national environment. Strategic plans are most significant for the development of the organization and its long-term future. A strategic organization is involved with all the feature settings of a company’ s arrangement when it desires to come up with a new product into the market.
The organizational strategy will determine the period of the company’ s success. With the study of strategic planning from the viewpoint of developing countries remaining very limited, this study has significance for practitioners and academia. This paper will discuss the conception of the six companies includes Mark Hill (MH), Australia Supermarket (AS), Fortescue Metals Group Limited (FMGL), The Indian Tea Company (TITC), Facebook The evolving Strategy (FTES) and The Grounded Kangaroo (TGK). The major strategic planning parts it follows in this paper.
First, it discusses the business level of strategies on how to decrease the prices, and how the companies need to be sure that discounting will at least protect the company’ s profit. Secondly, this paper will discuss the value-creating goals, the factors that may lead to the organization’ s success, and the key role of planning for long-term success (Burrow, et al 2007, p. 295), that will determine the aim and the target from the customers and mission or vision statements. Thirdly, this paper will discuss the profitability goals and how the budgeting strategies will be archived.
Additionally, this third goal entails how the company should survive with their consumers and corporation control. The fourth part discusses how the organization is aware of key factors that have a direct impact on business, and the value of decision-making to the customers. Similarly, it discusses the value chain, how the company distributes its product. Finally, the profitability goals encompass the determining goal factors and the stakeholder’ s interests. Business level Strategies The Grounded Kangaroo A business-level strategy defines the plans or methods a company uses to conduct a variety of functions in their business operations.
How they should frequently use business-level strategy plans internationally, in order to adopt competitive advantage skills. According to Burrow et al. (2007, p. 295), the company should often contain numerous departments with dissimilar business functions. The TGK Company must have adapted this concept to their process to assign them to dissimilar employees (Burrow et al 2007, p. 295). Business-level strategies will allow the company to employ practices that will provide significant results. This strategy provides the guidelines for the company owners, including, managers, and workers to pursue when running the business.
A business-level strategy is connected to set the lower price, in order to gain profits of the TGK Company’ s competitors. Before lowering the prices, the company needs to be sure that discounting will at least protect the company profit. It holds that a company could get more profit when they sell fewer products at higher sustainable rates than to sell more at a lower price. The strategy allows the company to reduce the prices that could do more harm than good (Burrow, et al 2007, p 295).
If the company lowers its prices too much, the company may be at risk of building a perception among their customers that the product is cheaper made. However, the standard of strategic management is that the company shall be able to maintain its strategic plan (Bosselmann, et al 2008, p 44-45). Additionally, the company’ s strategic focus should be on customers buying products from the company, rather than just focus on the price. In this strategy, the company should offer something good for its stakeholders (Sekhar 2009, p.
5-12). The company could also create an existing relationship with their consumers by being more corporations friendly, attentive, and flexible.
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