Premium Essay

Strategy

In: Business and Management

Submitted By longdh5885
Words 1547
Pages 7
Contents

Introduction 2
Definition 2
Method 2
Theory and Analysis 2
Conclusion 8

Introduction
To establish strategy is an indispensible part of any organisation. It plays an important role in directing and helping organisation to achieve the objectives. In this context, the strategy is considered as the way which organisations communicate with the competitive landscape to obtain the above average return. Therefore, to build an effective strategy, there is a need for profoundly understanding the competitive environment and estimating correctly the resource of organisation. This essay will examine the role of strategy as a “bridge” in order to assist firms to reach their targets in the competitive landscape.
Definition
There are many ways to definite strategy, however, it can be found that almost of them accept that ‘Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage’. (Hitt, Ireland and Hoskinsson 2009). Organisational resources include skills of employees, finances, capital equipments, patents and talented managers (Hit, Ireland and Hoskinsson 2009). Organisation resource is defined as ‘an asset, competency, process, skill, or knowledge controlled by the corporation’ (Wheelen and Hunger 2002). Competitive landscape is more complex in the context of globalisation; however, the fundamental constituents of landscape are customers, suppliers and competitors.
Method

To prove the ‘bridge’ characteristic of strategy between organisation and competitive landscape, this essay will examine theories of establishing strategy. In each theory, the components to build a strategy are related to customers, competitors, suppliers, internal process. From those processes, we can recognize that a strategy may be considered as ‘product’ of the combination between internal and...

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