Week 3: Identifying, Selecting, and Implementing StrategiesWeek 3: Identifying, Selecting, and Implementing Strategies
This week, you will identify, select, and implement strategies. One good way to look at this is from the perspective of an airline passenger. Imagine that you want to take a business trip to multiple cities. Schedules are important, but your firm has allowed you to choose every aspect of the trips.Which do you prefer when you fly: a cheap, no-frills airline, or a more expensive operator with fantastic service levels and maximum comfort? And would you ever consider going with a small company which focuses on just a few routes?The choice is up to you, of course. However, the point is that when you decide to book a flight, there are many different options available. These would be similar to strategic choices among five various generic strategies. Some are offensive; some are defensive. Each will have an impact on a different customer population and approach to conducting business. Once the generic strategy is selected for the business model, a line of business strategy must be selected for each operating business unit. You have 15 strategies to choose from, which allows for a lot
of customization.Finally, this week, you will examine the concept and possibility of adopting the new Blue Ocean strategy, which is a paradigm shift in strategic choice.Important Planning NoteMuch of the work for this course takes place in the Business Strategy Game (BSG) Simulation. Within this online program, time will be automatically calculated for the location of each student (e.g., Pacific Standard Time in California or Eastern Standard Time in New Jersey). However, all work that takes place in Blackboard (e.g., Discussions) is calculated in Mountain Time. Please make note of due dates and times for all assignments to be sure you stay on track. Answer Preview
.In the event that the companies were previewed to this information, they would have a better understanding of the market, various strategies of improving their business strategy, the best environment to start a business in and so on. In short, the companies would have access to all the market and industry information, including the challenges involved and the best practices. To be specific, if the new companies were previewed to information regarding the Blue Ocean strategy
..APA 170 words
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