Strategy and Strategic Decisions Note Eric Van Den Steen 2012
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The 20th century witnessed the dawn of globalization, which has dramatically transformed the way societies and economies work and are expected to keep doing so in the future. A key driver of globalization has been technological change, including increasing connectivity between different countries, regions, and industries. This shift has led to a wide range of impacts on global trade, investment, and globalization. It has also led to challenges and new opportunities for economic growth and prosperity. Inequality is a serious challenge. In developed countries
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– This case study was taken from an article published in The Strategist: Management. Strategic Decision-making Process: a study by S. E. Johnson and R. A. Brown in 1990 – In this study the authors discuss the following three decision-making processes that are most commonly used in business: – A process called “strategic planning”, where decisions on long-term objectives (those that go beyond just a year) are made. This may include things such as market positioning and investments in
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In the beginning, when you are struggling to find your place in the market or looking for a better way to do your job, you may not have a lot of knowledge about the competitive landscape, market size, product/service offerings, target customer group, competition, and your strengths. This is where strategic thinking comes into play. A well-crafted strategy will help you navigate your way through the market and position your company in the right way, while a poorly-crafted strategy can make things more complex, limiting and frustrating for all
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Case Study: Coca-Cola Company. Coca-Cola Company, a multinational beverage corporation, has a unique strategy in terms of “People first and Profit as a Service”, a strategy that has helped to define their growth over the past 100 years. This strategy is founded on an uncompromising commitment to delivering exceptional customer experiences (Coke). This commitment has been one of the cornerstones of the success of the company and is an aspect of their brand’s
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– What strategy should be considered for the new line of products? – How will the strategy be implemented and managed? – What are the potential benefits of implementing the strategy? – What challenges may arise from implementation and how can these be addressed? More about the author – How will the new strategy affect the competitors’ strategy? – How will the new strategy affect the marketing mix (price, product, promotion, place, and time) for the new line of products? – What is the rationale for making this strategy the top priority in the