Corporate And Business Strategies
Introduction
Corporate strategies are involved with the process of determining organizational goals that will be achieved in the near future. When forming corporate strategies, various issues are considered. One of the issues is the fundamental assumptions of management about the future technological, economic and competitive environments. Corporate strategies also involve setting goals that will be achieved within a stipulated period of time. Strategies that will be used for purposes of achieving the goals are also selected. A corporate strategy is not complete without formulation, implementation and monitoring of tactical plans that have been put in place. It can, therefore, be termed that corporate strategies are concerned with the overall purpose and scope of the business.
A business strategy can be termed as one that is aimed at directing a business to be able to compete favorably in a market. While forming business strategies, organizations are required to ensure that their business strategies are unique. They should be different from those of other organizations in the same industry. Formation and implementation of business strategies that is similar to those of competitors’ acts as a recipe for failure. Companies ought to ensure that business strategies address the concerns of strategic decisions. Such include meeting the requirements of customers, choice of products, having a competitive advantage and exploiting new opportunities. Deming, W. (2004) In order to achieve corporate strategies, organizations are required to meet their business strategies.
Strategies for achieving business and corporate strategies
Strong brand image and R&D
One of the strategies that are used by organizations for purpose of achieving the business strategies is the development of a strong brand image. Organizations that adopt this strategy are able to have an advantage over their rivals. Moore (1995). With regard to Apple, it is clear that the organization had developed a strong brand image. By providing products that were of high quality, the organization was able to develop customer satisfaction. By having customer satisfaction, the company was able to retain its customers and concentrate on attracting potential customers. This meant that apple was able to have a competitive advantage over its competitors.
Another strategy that was used by apple to be able to achieve its business strategies is the emphasis and focus that it put on research and development. The efforts that were put in research and development enabled the organization to have innovative human resource. This meant that the corporation was able to manufacture products that were unique.
The use of these strategies, therefore, meant that the organization was able to succeed in its business strategies. The company was able to design, manufacture and market a range of personal computers, communication and media devices among other products. Due to the strong brand image, the organization was able to sell its products on a worldwide basis. This was made possible by the use of online stores, retail stores as well as direct sales force. It, therefore, meant that the business was able to enlarge its market share and compete favorably.
Another business strategy that was achieved by Apple was the ability to satisfy its customers. By use of innovative software, hardware, internet services and other peripherals, the company was able to convey the finest user experience to its customers. The research and development strategy enabled the company to design new products and solutions that had superior ease of use. This arose from the innovativeness of the human resource as a result of research and development.
Product strategy
Due to the competition in the industry organizations are required to constantly provide new and better products. This is essential as it enables a company to keep up with new developments that arise from the consumer demands. Robert (2005). For apple to be able to effectively implement the product strategy, it had its own operating system proprietary. This was accompanied by the manufacturing of its own brand of computers. It was therefore possible to achieve the corporate strategies of the organization. This is so as the company grew to become one of the leading providers of internet services and computing products.
The organization was largely involved in production of products that were technologically advanced such as ipads, iPods, among many others.
Pricing strategy
The use of pricing strategy does not necessarily mean the use of low price tactics so as to gain industry dominance. It, however, does not mean that organizations that have their products highly priced have the best quality. Some of the organizations put high prices on their products with the intention of having psychological advantages over consumers. The bargaining power of buyers with regard to Apple was not that strong as the company provided products that were of high quality. It was then possible for the company to fix prices that buyers felt comfortable with. This is in comparison with the worth and superiority of the products that they purchased. Porter (2008).
Marketing Strategy
Marketing strategies are aimed at certain customers with the provision of messages that are most probably to draw their attention. Some of the techniques that are used as marketing strategies include special promotions and seasonal advertising. This are aimed at ensuring the company has acquired a certain target market. Apple had a strategy of expanding its distribution channels. This enabled it to access more customers and provide them with amazing sale and after sale services.
The company was, therefore, able to offer well integrated digital life style and productivity solutions that were superior. Apple was able to develop dominance in the graphic design market where there was advertisement of graphic media that provided Apple’s product with an excellent word of mouth reputation. This accompanied with a sales team that was able to explain to the customers the benefits of the products. It enabled the company to have a large market share in the industry.
Operational Strategy
The operational strategy is usually used for the purposes of minimizing the costs so as to have higher profits. David (2010). Apple was able to do this by accessing suppliers who were effective and efficient and provided materials that were of the required quality.
Conclusion
Organizations should ensure that they implement strategies that are unique and do not resemble those of competitors. It is for this reason that strategic planning is considered to be essential and should be conducted by companies. Carlos (2003) Organizations that fail to have strategic planning are outcompeted and do not achieve the set goals and objectives. By use of effective and efficient strategies that fit the industry in which Apple was operating, it was able to have success in its business and corporate strategies.
Reference:
Porter, M.E. (2008) The Five Competitive Forces That Shape Strategy, Harvard business Review.
David Mills, (2010). Supplier power and industry structure: review of industrial organization. New York.
Robert, Boyden (2005)Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall.
Carlos (2003) Strategic Networks: Creating borderless organizations, Butterworth-Heinemann, Oxford.
Deming, W. (2004) Quality, Productivity, and Competitive Position, MIT Center for Advanced Engineering, Cambridge Mass.
Moore (1995) Creating Public Value: Strategic Management in Government, Cambridge: Harvard University Press.
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