BUS 475 Integrated Business Topics Week 3 DQ
Identify firms in the business community that you believe are using some of the 15 grand strategies discussed in this chapter.
What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning.
As stated in our reading there are advantages and disadvantages to each of the 5 generic competitive strategies. Based on these, what are your thoughts on these strategies. Are some better than others? Which one would you choose if you opened a business and why?
This material brings up offensive and defensive strategies. What are your thoughts on the idea of being a ‘first mover’, a ‘fast follower’, or a ‘late mover’? Can anyone provide an example of these? Which of these do you think a company should strive for to be successful? Why?
Can anyone provide examples of some of the growing pains a company might have faced and how the might have overcome those troubles or ended up giving into them? What do you think the difference is between the companies that spread around the globe versus those that have ended up stumbling in this process?
Over the past few years we have seen a lot when it comes to diversification in business. With some this has been a success such as with AT&T and their TV service. With other companies we have seen them constrict to get rid of diversified elements such as McDonald’s getting rid of their stake in Chipotle. Both strategies have provided benefits to the parent company.
So, what are your thoughts on diversification? Is this a critical part of a companies continued growth and success, or is this an added risk that will do more harm than good for the company involved? Why?