Monday, April 27, 2020

Markides Article Summary free essay sample

These building blocks include parameters, strategic ideas, what to do what not to do, flexibility, a proper environment, and constant improvement. Lets define these building blocks one by one. By parameters, Marked tells us that a company must decide on are who will be its targeted customers and who it will not target; what products or services it will offer its chosen customers and what it will not offer them; and how it will go about achieving all this-?what activities it will perform and what activities it will not perform. The deflation of strategic ideas is the same as parameters (on who to target, what to sell and how to do It) but one difference. That difference Is where these Ideas are coming from. Marmalades argues that these Ideas can come from anybody, anywhere, anytime, even because somebody had a gut feeling. These Ideas can also come from trial and error and from market changes. We will write a custom essay sample on Markides Article Summary or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page These market changes are basically feedback from the market which then leads an organization to modify or change its strategic ideas. It is crucial for a company to know its roles/duties or what it is supposed to do and f course what it is NOT supposed to do.If this is not clearly stated then there will be confusion. For example the CEO proclaims our strategy is crystal clear: we will do BBC and at the same time the employees of the organization see the firm doing EX. as well as BBC. What are our duties, goals, and how do we procure them? These actions have to be clearly defined and Is the responsibility of the top management. When a frog Is put In a pot of boiling water, It Jumps out; when Instead, the same from Is put In a pot of cold water and the water Is slowly brought to a boll, the frog days in the pot and boils to death. The reference that Marked makes to this saying is that in the same manner, if a company does not react to the constant changes taking place in its environment, it will find itself boiled to death. In other words you must be flexible in order to survive; you must keep up with the changes in your environment. A firm must be able to identify these changes early enough, must be ready to respond to these changes and must have the skills needed to compete in this new environment.Speaking of environment, the proper implement of a strategy needs to be in a certain type of environment, and environment that Is hospitable and promotes the chosen strategy. This environment Is composed of four elements which Include: an organizations culture, Its Incentives, Its structure, and Its people. Marmalades argues that no strategy remains unique forever because of the changing times, because of mimicking by competition, and because of customer needs constantly improve its strategic positioning (who-what-how combinations).It needs to constantly modify itself to whatever new changes may occur, whether its new technological advances, new markets, new laws, and etc. In response to Marked research I would like to say that I agree with him. Strategy is not Just a simple definition. Its a whole lot of detailed planning that has many structures within it. Strategy has to be broken down into its building blocks and further analyzed to see how these building blocks add up and create the big picture, how they add up and create strategy.

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