Competitive Strategy Assignment @Myassignmenthelp.com

Question: This is a mandatory assessment Each student should look at the following three videos, for each week of materials you are asked to prepare two paragraphs: The first should contain the key ideas from the materials not a summary you must select the key ideas (most important) and talk about them. The second paragraph should identify an organisation which would benefit from the application of these ideas and explain how the ideas should be applied. Week by week materials for Competitive Strategy Week 3: Corporate Strategy Week 4: Good Strategy https://www.youtube.com/watch?v=43kZDnyDXOc Week 5: Boundaries https://www.youtube.com/watch?v=rJ2tmqRkiCM You should consult the rubric Attachment 1 to this document to see exactly what is required and how your assignment will be marked) The review and application materials (two paragraphs for each week) submitted by each student for weeks 3,4 and 5 - will be assessed (possible marks for this assignment are 20 in total). Assessment criteria: This assessment is mandatory. Failure to participate in this assessment will automatically lead to a fail mark in this subject. You may enrich this assignment with ideas from other materials such as journal articles if you wish. This additional research will be necessary to obtain the best marks. We would value feedback on which materials you like best and which materials you liked least. Word limit: 1,000 words Answer Week 3: Corporate Strategy Key Ideas: The main idea of the corporate strategy is that, it is developed and framed by the top management however to achieve the desired organizational goal it requires a cumulative participation from all the levels within the organization. According to Badgayan (2011) everyone within the organization has an important role to play. However, the thinking process should be logical and strategically viable for that organizations mode of business. The main reason behind having a logical and strategic thinking is that this thinking process will help the company to grow in future. The other idea that can be derived on the corporate strategy is that the nature of the corporate strategy is the summation of the three distinctive issues. Those issues are: Directional: What direction the organization should focus on? Portfolio: Which portfolio will help the organization to grow its business? ZEN Energy Systems: What business the organization to own to beat its competitors and what organizational structure and philosophy it should follow to gain superior performance? (Harvard Business Review, 1995) However, other than these the other idea that can be drawn is that a corporate strategy is a combination of four generic strategies. These four generic strategies are: Growth Strategy: To provide the planned growth aspect to the organization. Stability Strategy: To develop a win-win strategy that will provide stability to the organization. Retrenchment Strategy: To focus on one or two SBUs to gain the financial stability within the organization. Mixed strategy: To develop a strategic portfolio that will provide growth and stability to the organization (Harrison and St. John, 2014). Idenificationof Best fit Organization: The Atlassian is one of the fastest growing software companies in Australia (Schroeder, 2014). The main motto of the company is to deliver the jobs on time. Therefore, to achieve this they have implemented the virtual strategy that will allow the employees to work on virtual platform in their flexible time. This flexibility of time has helped the company to grow faster rate and it is providing the employee and the financial stability within the organization (Atlassian.com, 2014). Week 4: Good Strategy Key Ideas: The main idea about a good strategy is that a good strategy focuses on the multiple resources for the accomplishment of a single objective. However, over the period it has been seen that companies did the wrong thing through concentration in the complexity of the strategy. The issues that has been found that though the concept of the good strategy is very simple but it has hindrances within it. According to Rumelt (2008)the major hindrances are: Identification of the Best fit organization: The ZEN energy system is one of the renowned manufacturer and service provider for the solar power. The company has decided to run their business through the solar power solutions. According to Zenenergy.com.au (2014) while analyzing the options on the renewable energy it has experienced that the solar energy will be most sustainable option for the long run. Moreover, it will help them to get the advantage from the government on different issue and this government help will help the company to provide affordable solutions to its customers. However, developing solutions only trusting upon the government help and schemes could turn out to be a wrong decision in future though it is doing quite fine in the current scenario. Therefore, it is very necessary for the company to develop an alternative affordable solution plan without relying on the future government favorability (Harrison and St. John, 2014). Week 5: Boundaries Key Ideas: The main idea about the strategy is to enabling a company to perform better than its competitors though keeping the alignment within the market opportunity, resources and the implementation planning. However, the main thing what the strategy does is to define a specific boundary for the company to guide itself about what it does best and what it should not do (Kryscynski, 2012). On the other hand, the other key idea that can be drawn is that the nature of the strategic boundary is actually to restrict the company from doing what it does not do the best but in helping to do what it does better than the other competitors do (Kryscynski, 2012). The key point is that the formulation of a strategy involves a diagnostic analysis of the following elements: Identification of the Best fit organization: The time telecom is a Melbourne based Telecom Company. This company provided alternative telecommunication solutions to the residential customers (Ltd, 2015). The main reason for concentration on the residential customers is that the company knows that the infrastructure it has that cannot satisfy the large industrial customers. Therefore, it has concentrated highly on the residential customers because it knows its infrastructural boundaries. Currently company has started moving into the small and medium scale industries as because the company has achieved stability within itself through satisfying the residential customers. The expansion plan was only done when the company sensed that the portfolio of the organization and the existing capacity and the capability of the organization could provide adequate service to the newly identified sectors (Schroeder, 2014). References Atlassian.com, (2014). Development and Collaboration Software Company | About Atlassian. [online] Available at: https://www.atlassian.com/company [Accessed 8 Jan. 2015]. Badgayan, S. (2011). What is Corporate Level Strategy. [online] YouTube. Available at: https://www.youtube.com/watch?v=aku1HUmJzDY [Accessed 8 Jan. 2015]. Harrison, J. and St. John, C. (2014). Foundations in strategic management. Australia: South-Western/Cengage Learning. Harvard Business Review, (1995). Corporate Strategy:The Quest for Parenting Advantage - HBR. [online] Available at: https://hbr.org/1995/03/corporate-strategy-the-quest-for-parenting-advantage [Accessed 8 Jan. 2015]. Kryscynski, D. (2012). Introduction to Strategic Management. [online] YouTube. Available at: https://www.youtube.com/watch?v=rJ2tmqRkiCM [Accessed 8 Jan. 2015]. Ltd, T. (2015). Time Telecom Pty Ltd. [online] TrueLocal.com.au. Available at: https://www.truelocal.com.au/business/time-telecom-pty-ltd/south-melbourne [Accessed 8 Jan. 2015]. Rumelt, R. (2008). What is Good Corporate Strategy?. [online] YouTube. Available at: https://www.youtube.com/watch?v=43kZDnyDXOc [Accessed 8 Jan. 2015]. Schroeder, H. (2014). An art and science approach to strategic risk management. Strategic Direction, 30(4), pp.28-30. Zenenergy.com.au, (2014). About Us. [online] Available at: https://www.zenenergy.com.au/about-us/ [Accessed 8 Jan. 2015].