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Essay / Research Paper Abstract
This 3 page paper looks at theory in addressing the various types of strategies businesses use. Several contemporary examples are also provided. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA602str.rtf
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Unformatted sample text from the term paper:
the course of an organizations life and is sometimes referred to as strategy. Petrick & Furr (1995) explain that strategies are "comprehensive master plans that state how an organization will
achieve its mission and objectives" (p.77). Strategies are generally thought of as either generic or grand (Petrick & Furr, 1995). Grand strategies "refer to an organizations coordinated macro efforts to
achieve long-term success, whereas generic strategies refer to the most fundamental bases on which an organizations micro efforts are directed at success" (Petrick & Furr, 1995, p.77). Here, it becomes
obvious that the latter is equated with general strategies that crop up throughout the course of business. They may involve a particular theme or niche, or they may be relevant
to the whole company. The former, or grand strategy, does not consider immediate profit, but rather the fulfillment of a long-term vision. For example, many people remember the problem when
Tylenol was tainted and the public was afraid to take the drug that once had been held high in terms of safety. While Tylenol makers McNeil had strategies to sell
its product and profit, its grand strategy was to become a company that the public trusted over time. McNeil pulled the pills off of store shelves and created safer versions
at great expense. Another example is that many department stores like Macys have grand strategies of becoming trusted enterprises where people can feel safe shopping.
Safety-in respect to being able to return items and getting quality product-is important. Yet, a generic strategy used during the Christmas season of 2005 was to only support a Happy
Holiday theme and let go of Christmas verbiage as not to offend non-Christians. This resulted in criticism from the right and most notably by radio and television host Bill OReilly.
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