Can business strategy be understood as ‘a chess game played in real life’? In this current day and age, with the increasing social trend of global economy as well as the advanced technology and the opening up regimes, the common business operations has been regarded as a common complex chess game practice for the majority of the multinational corporations, especially when penetrating and managing in the international market place. Dixit and Skeath and Reiley (1999, p.135-141.) pointed out that the most manifest characteristics of playing the chess game is the systematic and overall evaluation as well as analysis regarding the general macro circumstance and the situation of the major competitors. As for a wise chess game player, the next strategic operation is highly expected to be carried out after being aware of the competitors and the overall environment. In essence, this wise perspective can also be utilized for the companies, especially for those large scale multinational companies in the international market place context. The primary purpose of this essay is to develop a framework of the systematic understanding regarding the business strategy with the comparison of the chess game principles as well as the characteristics based on the real life business context. It can be deduced that the business strategy can be generally understood as a chess game in the real life scenario, which requires the companies to carry out all round analysis and evaluation within the intense market competitions. It is generally speaking that at the initial stage of the chess game, advanced and highly sophisticated players are likely to carry out a series of all rounded evaluations and analysis with a view to guaranteeing the best outcome and pot... ... middle of paper ... ...d to learn from the chess game in terms of the ground rules and specific strategic management points of views. There are three common strategic principles and management expertises that the corporations need to be aware of and follow. First of all, it is highly advisable for them to conduct a macro environment evaluation through resorting to the PESTLE Analysis and the Porter’s Five Forces Model. Second, it is of significance to carry out self evaluation analysis with a view to better understanding the firms’ own advantages and capabilities through using SWOT Analysis. Last but not least, the corporation is advisable to conduct an all rounded competitor analysis in order to gain a detailed acknowledgement of the current circumstance possessed by the major competitors so as to assist them to generate a better corresponding strategies in the future business operation.
Pearce, J.A., & Robinson, R.B. (2013) Strategic Management: Planning for Domestic and Global Competition. (13th Ed.). Boston, MA: McGraw-Hill/Irwin. ISBN-13: 9780078029295
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2011). Strategic management: Competitiveness and globalization, concepts and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.
For example, soused from Malcolm (1989: 75), a company found itself competing unsuccessfully and unprofitably in motor components market in Europe. Its strategy is to compete against a European giant on price, which had been implemented for a while without analyzing its market situation previously. The fact in such market is that only can a firm focus on investing certain equipments thrive. That is, when there was a strong competitor who dominated major market shares with a strategy of cost leadership, it is not wise to beat it on price. And if this company could firstly conduct a situation analysis, it would found that there were many opportunities for motor-products manufactured to very high technical specifications where technical reputation, rather than price, was the major concern.
This is filler text for my personal engagement paragraph, where I will be writing about the wonderful game of chess and how it interests me. I will talk about my past history and interactions with chess and why I chose the knight’s tour as my topic for math exploration. I won’t include too much research or calculations here but it should help my case. I will now copy and paste the paragraph I just wrote to make it look longer. This is filler text for my personal engagement paragraph, where I will be writing about the wonderful game of chess and how it interests me. I will talk about my past history and interactions with chess and why I chose the knight’s tour as my topic for math exploration. I won’t include too much research or
The world has grown increasingly complex, resulting from the greater interdependence among world economies (Thompson, 2002). Successful organization is largely determined by how well the organization adjusts all its tangible and intangible properties to keep itself on track with its surrounding (Armenakes & Bedeian, 1999). Strategy was concerned to manage firm’s activities and resources to the environment in which it operates. This essay will analyse the micro and macro external environment in the part five years (2000 to 2006) of IBM Company by using PESTEL and five forces model to analyse in the first part. The second part will discuss about the advantages and disadvantages of the two possible alternative strategies for IBM.
The term "The Great Game" was originally coined to denote the political rivalry that existed between the British Empire and the Russian Empire during the nineteenth century. The two great powers clashed over interests in Central Asia, with Afghanistan at the epicentre. While the British sought a buffer to protect their crown colony India, the Russians feared that the British might undermine their power in Central Asia by inciting rebellion among the regional Muslim tribes. The threat of a unified Germany forced the two empires to broker the Anglo-Russian Agreement in 1907, which effectively signalled the end of the traditional phase of the Great Game. However, the collapse of the Soviet Union in 1991 left several newly independent nations in the Caspian Sea region, sitting in a power vacuum, where Soviet control once dominated them. Rich in both oil and natural gas, the Caspian Sea region rapidly directed the gaze of foreign powers to Central Asia once more, in what scholars are characterizing as the "New Great Game." As defined in this paper, the New Great Game refers to the geopolitical game played between nations to control Central Asia's energy supply. Unlike the previous phase of the game, it must be noted that the current phase is not rooted in territory, but something much more valuable. The prizes of the New Great Game are oil, pipelines, tanker routes, petroleum consortiums, and contracts. And the players have multiplied to include the United States, Russia and Iran as major powers, in addition to regional powers such as Pakistan India, Azerbaijan, Kazakhstan, Turkey, Turkmenistan and Afghanistan. Although the original projection of oil reserves in the 1990s was estimated to be between 100-150 billion barrels (bb), pr...
The Design School identifies strategy as achieving the essential fit between internal strengths & weaknesses and external threats & opportunities. Strategic management is driven by clear & unique strategies. Strategies formed by the senior management are often in a deliberate process of conscious thought neither formally analytical nor informally intuitive. In this process the internal situation of the organization corresponds to the external
The deep analysis of the macro-environment is key to the organisations in order to understand which factors are impacting their operations. The main purpose of PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental) is to identify those factors that have an impact on the organisation but are outside its control area. Together with other frameworks (such as Porter’s ‘5 forces’), PESTLE framework is required to develop a comprehensive analytical strategic process.
This is a crucial part of a strategic analysis because ‘…organisations do not exist in a vacuum, they are part of a complex world’ (Bowman 1987:61) and many factors can influence operations, beneficially and unfavourably. However, these can be difficult to comprehend due to their complexity, diversity and fast changing nature. Necessarily a number of techniques have been developed to facilitate the process and to ‘…contribute to answering the key managerial question…’of what ‘…opportunities and threats might arise in the future’ (Johnson & Scholes 2002:99).
Because the subject matter of strategic management is so inherently complex and because each one of us brings his own personal biases to the analysis, it was suggested early on that virtually all case material in the field be analyzed from the perspective of more than one methodology. Profit theory and industrial chains were selected as the first of a number of viable approaches to the analytical process. It would have been equally correct to select the Five Competitive Forces analysis refined by Michael Porter, one of the major figures in the field of strategic management. This methodology addresses the same issues but differs only in the language that they use to describe corporate behavior. The five forces are:
Hitt, M., Ireland, and Hoskisson, R. (2009).Strategic management: Competitive and Globalization, Concepts and Cases. In M.Staudt & Stranz (Ed).
In a world of free trade, growing competition and accessibility to foreign markets, the need for methodical market analysis and assumptions is steadily rising in today’s business environment. It is just a normal way of thinking to primarily intent to eliminate the financial before entering a new and foreign market. This suggests that enterprises have to develop an overall strategy for their business in order to gain competitive advantage and consequently market share. With the words of Michael E. Porter, professor at Harvard University and leading authority on competitive strategy, this desirable market success is indirectly linked to the individual structure of a market. The unique structure of a single market influences the strategic behaviour and the development of a competitive strategy within a firm. The competitive strategy finally decides whether a company performs successfully on the market or not. Referring to this interpretation of business success, M. E. Porter established his five forces framework that enables directives to gather useful information about the business environment and the competitive forces in industries.
Firstly, multinational corporations are not something new in this 21st century. There are more and more international corporation as people try to boost the process of globalization. The development of these multinational corporations depends on the management of the owners. Transnational strategy is needed in order to operate such a big system of companies. Every nation in this system has to be managed thoroughly in order to help running the corporation, as well as to keep the system as one consistent body of business. Managers also find it important to look for opportunitie...
That reminded me from the case study the director how to plays round of the company to succeed this Colombian Memorial Hospital. External control view of leadership, situations in which external forces where the leader has limited influence determine the organization 's success. Strategy, the ideas, decisions, and actions that enable a firm to succeed. competitive advantage firm 's resources and capabilities that enable it to overcome the competitive forces in its industries. Operational effectiveness, Performing similar activities better than rivals. Intend strategy, strategy in which organizational decisions are determined only by analysis. Realize strategy, strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource limitations, and changes from managerial preferences. Strategy analysis studies of firms ' external and internal environments, and there with organizational vision and goals. Strategy formulation, decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage.
Millions of people around the world take pleasure in the game of golf every day, but few know when and where this complicated sport began to evolve. The game is played outdoors on a large course with a series of 9 or 18 holes placed far apart. The intention is to hit a small hard ball using various clubs into each hole with as few hits as possible. The game is loved and hated with equal amounts of interest by many. Golf though is much more to me it is just not exercise it’s an exciting activity which I love. I am very passionate about the sport. For me I find it a very rewarding pastime and an extremely challenging game. As I play the game I wonder, how did the game of golf evolve and who are the people that made the game what it is