Maria and her team are now prepared to proceed with finalizing their business plan to launch their company. Considering how competitive the business sector is today, it is important that they are aware of their alternative organizational strategies. It is also important that they understand how to develop a sustainable competitive advantage, so as to remain financially viable. The group is considering utilizing the strategy formulation framework to aid in developing the company and its products. Further to discussion with the Strategic Consultant, Maria is aware that there are certain habits that strategic leaders must encompass but is not sure what they are. Organizational Strategy a) Based on the categories of alternative organizational strategies listed below, you are required to do the following: Select one appropriate category. Identify one strategy from the selected category which you plan to pursue to ensure success applicable to the scenario presented. Explain how the product or service in the beauty and cosmetology industry that you are offering would be implemented through this category. Forward Integration, Backward Integration, Horizontal Integration, Market Penetration, Market Development, Product Development, Related Diversification, Unrelated Diversification, Retrenchment, Divestiture, Liquidation

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Maria and her team are now prepared to proceed with finalizing their business plan to launch their company. Considering how competitive the business sector is today, it is important that they are aware of their alternative organizational strategies. It is also important that they understand how to develop a sustainable competitive advantage, so as to remain financially viable. The group is considering utilizing the strategy formulation framework to aid in developing the company and its products. Further to discussion with the Strategic Consultant, Maria is aware that there are certain habits that strategic leaders must encompass but is not sure what they are.

Organizational Strategy

a) Based on the categories of alternative organizational strategies listed below, you are required to do the following:

Select one appropriate category.
Identify one strategy from the selected category which you plan to pursue to ensure success applicable to the scenario presented.
Explain how the product or service in the beauty and cosmetology industry that you are offering would be implemented through this category.

Forward Integration, Backward Integration, Horizontal Integration, Market Penetration, Market Development, Product Development, Related Diversification, Unrelated Diversification, Retrenchment, Divestiture, Liquidation

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