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Essay / Research Paper Abstract
This 3 page paper analyses business strategy within a variety of organizations and considers its' impact on project management. The bibliography cites 7 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEstratPMan.rtf
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Unformatted sample text from the term paper:
as Microsoft, to first mover strategies and innovation, as seen with Apple through to follower strategies, as seen with firms such as LG the way strategies are adopted impacts on
all aspects of an organization. The term business strategy is usually used to refer to the aggregate strategies of an organization or a single business unit, when taken together. Porter
has argued that there are two main strategies; cost advantage and differentiation (Thompson, 2007). In trying to undertake a cost advantage the company may seek to be the cost leader
in either the industry, or just the relevant segment of the industry. In each industry or segment only one company may occupy the cost leadership position. This means a company
will "find and exploit all sources of cost advantage... [and] ... sell a standards no frills product" (Porter, 1985; 13). Differentiation is described by Porter as "when it [the company]
provides something unique that is valuable to buyers beyond simply offering a low price" (Porter, 1985; 120). This means that the products different in some way, this may be real
value through features and extras, perceived value, such as brand value (Grant, 2004). It may also be an advantage that is added though the value chain rather than directly in
the product (Thompson, 2007). As the times are getting more competitive and the barriers to trade are falling there is increasing pressure placed ion the way that these are achieved
and supplied. For many firms this will impact on all areas of business including any projects that they undertake. Projects from the
building of a new office of factory to the development of a new product will all have to reflect the way that the firm is competing, placing more pressure on
...