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Essay / Research Paper Abstract
This 4-page paper focuses on questions about strategy implementation including new product develompent vs. market penetration and the need for a strategic plan for success. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTstrimp.rtf
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Unformatted sample text from the term paper:
CEO who doesnt believe in strategic planning, even though his mostly successful company is beginning to lose ground against the competition. How can this man be convinced that a strategic
plan is the right way to go? In short, a specific statement of strategy is a must today - as it takes
into account the context of an ever-changing environment (Kinra, 1995). For one thing, developing a strategy plan helps a company create a long-term strategy not only for growth - but
for survival (Kinra, 1995; see also Urban and Star, 1991). This is because developing a strategic plan basically takes into account all variations of what can happen (i.e., increasing competition,
decreasing demand and so on) and how the company meets these challenges. Having such plans on paper (and anticipating such events) means that the company is better able to not
only assume that challenges will happen, but will be able to meet these challenges. To further convince the boss, the new
employee can take a current challenge - namely the increasing competition. The employee can then show his boss an example of a strategic plan or idea that could have foreseen
this problem and developed solutions to it. Sometimes when things are presented in black and white, even the most stubborn CEOs yield to the ideas.
The next question involves a company experiencing solid revenue and profit growth, thanks to its one and only product - a software application targeted to small businesses.
The company is going through a major strategic planning overhaul, and in this case, the student is asked what strategy should be pursued in this case. The way we see
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