International Strategy Formulation Discussion Essay Assignment

International Strategy Formulation Discussion Essay Assignment

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International Strategy Formulation Discussion Essay Assignment

Find below the discussion post from a student. Answer to it either agreeing or disagreeing.

What, according to Porter is the starting point of strategy formulation? Do you agree, why?

The starting point of a strategy is to ask what is the fundamental or strategic challenge for an organization? Porter believes that the starting point of a strategy is not to be the best, but to rather think about being unique and how an organization can create uniqueness for its customers or consumers that they are

seeking to serve. He believes if something unique can be served, the company is more likely to succeed as an organization would leverage their strategy of uniqueness to achieve their goals or aspirations rather than profitability.

International Strategy Formulation Discussion Essay Assignment

He believes that that most companies are creating strategies to become the best (best product, service, customer support model etc.) rather than how they can be unique and differentiate themselves from others. Personally, I agree with his position on both what the starting point of strategy is and how too

frequently companies focus on being the best rather than differentiating themselves. Specifically, I agree with his position because in most cases when developing a new product, companies who leverage an IDEO or Ideate business model will have their potential consumers at the core of their product, where the

product is able to uniquely serve and meet the demands of their client/s. In addition, when firms are interested in creating strategic objectives of uniqueness, they often become closer with their consumers and clientele thereby indicating the power of a consumer.

What determines economic performance of firms? Do you agree with Porter’s position?

International Strategy Formulation Discussion Essay Assignment

Porter indicated that the economic performance of firms is dictated by: Threats of substitutes, Bargaining power of buyers, Threats of new entrants, Rivalry among existing competitors and Barging power of suppliers. These five factors are indeed very important when it comes to economic performance of firms

and should always be considered (similar to that of a SWOT) when trying to expand a business or looking for growth opportunities. For example, if you have an over saturated market from say too easy of access of creating your business (let’s say for example in the industry of selling coffee in a cold environment),

then profits are going to be limited because it would suggest that there will be a lot of competition due to the ease of entry; therefore, there would be less opportunity to increase prices since consumers would have more choices for their products and they would often become more price sensitive. This in turn,

can also create the situation of inferior vs superior goods where your product may become synonymous with being inferior to others. All of these factors directly impact economic performance and profits of a firm.

Comment on Porter’s take on the importance of making trade-offs, and creating alignment. How does this relate to success in strategic performance?

International Strategy Formulation Discussion Essay Assignment

Creating alignment and making tradeoffs was exemplified through his example of IKEA. Overall, both tradeoffs and creating alignment are relatively dependent on one another and they play a large role in the success of strategic performance. Tradeoff is done by doing one thing really well, and by directly choosing

not to do another such as, what specific demographics that you will not target and focus on. For example, IKEAs demographics are for those looking for products that you build yourself, come at a low cost and are ideal for more compact areas. They do not focus on individuals looking for customization or those

who require a great deal of assistance and or customer service. Therefore, the alignment would be to create simplified products that are made, stored, and marketed in house for the DIY clients. In addition, tradeoffs make a strategy sustainable against being imitated by rivals thereby making companies with

successful tradeoffs remain dominate in their field for many years.

International Strategy Formulation Discussion Essay Assignment

When looking at alignment on its own, it is how your product/service meets the tradeoff and how the tradeoffs is aligned with your unique value proposition (essentially, alignment is the ability to ensure that all aspects of your business from the value proposition to the sales price, to the overall business model is

in line with your strategic goal and end demographic). If it is, then performance of the company has a high likelihood of success. Again, IKEA would be a great example of this as their strategic performance has been an industry leader for decades and is next to impossible to replicate and replace as being such a

large corporate conglomerate. For example, JYSK is another company similar to IKEA, but its product offering and overall quality of goods are far inferior even though their pricing is relatively the same

International Strategy Formulation Discussion Essay Assignment

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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