Free «Business Strategies» Essay

Business Strategies

1

System thinking is an approach of observing at organizations that accentuate the interconnections between its internal organs and the external environment. On the other hand, it is also technique of solving organization issues and aiding in organization change (Kauffman, 1980). There are various system thinking tools Soft Systems Methodology (SSM), Brainstorming and Morphological Analysis and they have different impacts on an organization especially when developing a business strategy. 

Soft Systems Methodology (SSM) is a quantitative tool that can be utilized for applying systems thinking to non-systematic circumstances. The technique was initiated by Peter Checkland in the late 1960s and initially observed as a modeling tool, but over the recent past till currently, it has been utilized as a meaning development and learning tool. The tool deals mainly with soft problems that have a high political, human and social element in an organization. It has seven steps in handling the problems (Osborn, 1963).

SSM has various roles including offering a solution to complex political and organizational situations and forces the user to think outside the box for more than just a technical solution.  For instance, it can be used to build a reference representation of protective services in a security agency like a police station (Senge et al, 1994).

Brainstorming is a lateral thinking approach to problems solving which functions by focussing on an issue and deliberately generating as many solutions as possible and exploring the ideas thoroughly. Brainstorming has various roles because it develops new ideas to help in the creation of business strategy and it incorporates different views from diverse participants. Through ensuring a free and open surrounding, brainstorming helps to create a rich collection of creative solutions (Senge et al, 1994). 

Buy Business Strategies essay paper online

Title of your paper

Type of assignment

Academic level

Urgency

Spacing

Pages

Currency

Total price:

 

* Final order price might be slightly different depending on the current exchange rate of chosen payment system.

Morphological Analysis was initially developed as a technique for analytically structuring and investigating the entire set of links entailed in multi-dimensional, normally non-quantifiable, problem compounds.  The technique helps in the creation of a new product by integrating different components in a new manner (Kauffman, 1980). For instance, considering a product that could be made of 2 different materials, 8 shapes and using 3 different mechanisms, there are 48 different combinations (2 x8x3).

2 a    

Business value is anything that contributes to an organization’s stated primary goal/social responsibility. For instance, “increase or protect revenue, reduce/avoid costs, improve service, meet regulatory obligations, achieve market strategy, and develop staff” (Rodgers et al, 2001.p 56). Organization’s stated primary goals dictate that all organizations should have a clearly articulated statement about why they exist and how they define success (i.e. the vision, mission, and goals statement). As a result, everything that is claimed as business value should be directly attributable to the organization’s stated primary goals and if a project does not deliver something that contributes toward one of those, then it does not have a sound business case (Rodgers et al, 2001).

The following are examples of goals that could be important to any organization; the precise mix will depend on the type of organization and the sector within which they operate (commercial, governmental, or charitable/volunteer):

  • Increase revenue: generate more money; increase extra taxes, increase sponsorship/donations
  • Protect revenue: retain customers, fight off competition
  • Avoid/reduce costs: streamline operations, operational efficiencies in the value stream, better links with suppliers (Rodgers et al, 2001)
  • Improve service: ensure that products and services meet the needs of real customers, enables a service experience that meets expectations or even delights
  • Meet regulatory/social obligtions: do the right thing legally, environmentally, and socially, protecting the company from risk of fines, bad press, or losing key leadership- also encompasses corporate social responsibility
  • Achieve market strategy: build brand recognition and market share, enter new markets, and implement good product development roadmap
  • Develop staff: recruit and retain the best people, train and develop them to be the best they can be, and support them with appropriate remuneration and benefits.

A value chain is a chain of activities that a firm working in a given industry undertakes or does in order to achieve a given goal or valuable item.

Supply chain is a long definition of system in an organization. It entails the personnel, functions, information and resources charged with transporting a good or a product to where it is needed. They involve parties that are directly or indirectly linked to the final customers.

Customer relationship management (CRM) is a way of managing companies or organizations interactions with both the past and the future events to produce the targeted goals.

Business to business (b2b) is the commerce transaction of the products or goods between businesses and they may be in different stages. On the other hand, business to consumer (b2c) is a transaction between a company and a consumer (Rodgers et al, 2001).

2b.    

Innovation is the process or act of introducing a new product or coming up with something that is modified than the old product in the market. SCAMPER as a tool of innovation can be used to come up with very many useful products in the market. For example,  the use of the following stages helps to invent new item; substitute  ink with iron when making a new pen, when combined will be writing and cutting, when you adapt the pen top becomes a container, when modified the body becomes flexible, when used to other is write on wood, when eliminating nib to fold outwards.

Want an expert write a paper for you?

 
Talk to an operator now!

There are different stages of innovation as described below:

  • Innovation prescription is the identification of the issue to be addressed in the organization and how it is going to be implemented by the management (Kauffman, 1980).
  • Innovation pipeline is a stage where companies use pipelines to manage and track early stage projects while monitoring and reporting on the financial value to their innovation pipeline.
  • Innovation platform is where the commercialization of the available technologies and capital equipment needs benefits the business.
  • Innovation project is an idea that persons or organizations come up with, does the research about it and plan on implementing it.
  • Innovation people are those dealing with the innovation practice in the organization.

3a.

Disruption technologies are technologies introduced by companies to enhance their performance, and they have several issues and challenges.

Usage and adoption rate may be a big challenge to be followed by the whole organization. It also requires the organization to hold checkpoints and feedback and provide resources, create metrics to monitor adoption, and establish a pilot team of people who are interest in the new technology (Rodgers et al, 2001). Additionally, they must adjust to play the different roles that exist within an organization and user base for technology. The organization has to leverage the champions of the technology, give them good reasons and set the new goals of using the new technology.

Concerning product viability, the organization should be ready to absorb the technology, and its maturity level should also be considered. Additionally, its security and compliance should be in consideration, and a lot of research should be done hence extra costs.

End –user commitment and availability require a lot of time in the already pllanned time. This can be done by considering the different job functions of the workers, explaining why using the new technologies makes their work easier, and providing an orientation among others (Kauffman, 1980).

Finally, the corporate culture of the organization will have to change to be in line with the normal condition of the organization. The introduction of these disruptive technologies will lead to the provision of quality products, growth of the business, high employment and hence making very competitive market.

3b.

Tools and Approaches of Predicting New Emerging Technologies

Extrapolators

  • Pattern analysis teaches the background needed for computer graphics, computer vision, and computer music.
  • Counter punch is a way in which the emerging technologies are used to achieve the set organizational goals (Rodgers et al, 2001).
  • Intuitor is the ability of having information without interrupting or having reasons that are not needed. This is also the sense of something that is not evident or impressible by the surrounding parties (Osborn, 1963).
  • Goal analysis is use of the available new technology in the organization to come to the final targeted goals. The impact of the stakeholders should also contribute to the achievement of the goals (Osborn, 1963).

4.

Differentiation strategy is the way of making the available products in the market to be unique though they serve a similar purpose. This earns a lot of credit in the market. Since companies producing tooth paste are many, they are coming up with different brands, color, quality etc to win the market. Creation of the goods will depend on the quality, size, quantity, packaging type, and color of the products among other features. The nature of the product will make the customers move closer, and this will also encourage high competition in the market. The manufacturing process entails making a product in a great way to set them competitive in the market (Rodgers et al, 2001).

Hurry up! Limited time offer

Get

19%OFF

Use discount code

0
0
days
:
0
0
hours
:
0
0
minutes
:
0
0
seconds
Order now

 Performance is another big attribute this to and is used make a product very competitive, for example, BMW uses it to market their products. Design also contributes a lot to these.

5.

Environmental elements are features such as air, water, soil, the landscape, and biological diversity that may affect positively or negatively the functioning of the organizations. Political factors are the rules and regulations that govern a given country in which the organization will operate. On the other hand, legal issues are also the nature of the business operation rules that control their functioning (Osborn, 1963).

Economic factors are the surrounding available resources that should be utilized to attain the given goals. Social factors are factors that show the corporate social responsibility of the organization and how it will operate in the environment. Finally, the state of human health and safety are conditions of the human life will count for the environmental factors that will either support them wisely or do not support them.

6.

Quality management is the type of management all managers should apply to have a smooth operation with their esteemed employees in their organization. The quality of the products offered to the market will either make it competitive or lower its demand ratio in the market. The quality of the products is measured in different ways including performance, reliability, and durability. Quality management tools ensure changes in the systems which in turn ensure superior production of products and services. The tools such as six stigmas and QTM have common goals of delivering quality goods (Rodgers et al, 2001). For example, the sale of mobile phones will depend on quality, for instance since Nokia is considered the best brand of phones customers will always go for them if they needed a phone. 

Most popular orders

We provide excellent custom writing service

Our team will make your paper up to your expectations so that you will come back to buy from us again.

Place your order now

PrimeWriting.net Testimonials

 

Get 15%OFF

your first custom essay order

Order now

Prices from $12.99/page

Online - please click here to chat