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Strategic Plan Str 581

In: Business and Management

Submitted By binzinna
Words 1410
Pages 6
Strategic Choice and Evaluation Paper
University of Phoenix
STR/581
Strategic Choice and Evaluation Organizational leaders and analysts develop business strategies to ensure that the organization is successful and operates to its full potential. Several factors have a significant impact on an organization’s success and its profitability. However, these factors are not solely based on finances. Some factors that will have a significant impact on the organizational strategic approach include organizational structure, organizational culture, and the leadership strategies chosen. In addition, organizational leaders and analysts seek to improve business processes and its related costs, improve customer satisfaction by improving product or service quality, and maintain a competitive advantage when compared to organizations offering the same or similar products and services. Businesses create competitive advantages when compared to its competitors because their product or service quality is highly distinguished from its competitors within the same market segment. Another factor that has a significant impact on the organization’s competitive advantage is the business’s cost structure (Pearce & Robinson, 2011). Merck & Co. is a pharmaceutical company that manufactures pharmaceutical prescription drugs for patients diagnosed with a variety of diseases. This organization is a scientific research-based organization. Therefore, to ensure the organization grows to its full potential a variety of factors must be considered.
Merck & Co. Potential Growth Merck & Co. continues to expand globally and uses its environmental resources and environmental friendly raw materials to manufacture its products. In addition, using environmental friendly products enables the organization to fulfill its value statements by increasing environmental awareness among both...

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