...Strategic Choices and Evaluation Christel McCrory STR/581 April 23, 2012 Professor Frank C. Bearden Strategic Choices and Evaluation Target Stores Strategic Choice and Evaluation The first Target Store was opened in 1962 by the Dayton Company. Though there were other discount chains in the US at that point of time, many of them do not exist today. Target was able to adapt itself to the changing environment and by 2002; it was the second largest discount retailer in the US (Target.com, 2012) http://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/BSTR164.htm] In June 2002, Target Corporation (Target) had 1,330 retail stores in 47 states of the United States. Even though it only had a fifth of the sales and profits of Wal-Mart, it had a loyal customer base that was looking for a trendy, yet, affordable range of merchandise (Hays, 2002 pg. 2). Target's customers, whom it referred to as 'Guests', were younger and more affluent than that of its rival Wal-Mart | | An early strategic choice to build a brand around the Target name fostered the company's steady growth. From the very beginning, George Dayton's strategy was to position Target as an upscale discount chain at which the prices would be just above the lowest prices. To achieve this upscale image, it offered trendy and stylish goods in an environment that was bright and attractive, unlike other discount stores of the time (HBS Working Knowledge, 2004 para 2). Once a generic strategy is selected...
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...Strategic Choice and Evaluation STR/581 July 13, 2015 Strategic Choice and Evaluation The Sonoco Products plant in Memphis, TN has been in business for over 40 years. Many of the operations have been very manual. The plant was just introduced to the new technology of supply chain. Of course many of the productions workers are having being brought up to speed to the new technology. Production workers have the responsibility of entering the umbers into the system in which they produce. It is very critical that the numbers that they enter are accurate. However, in order to assure accuracy, one must understand how the system works. In this industry, it is very important that the workers understand the essence of their job and how critical it is that each worker does their part tot he fullest. To assure long term operation of this plant, strategic choices have been made to ensure successful generic strategy, value discipline, and overall grand strategy for Sonoco Products. Generic Strategy Pearce and Robinson (2013), describes generic strategy as the core idea about how a firm can best compete in the marketplace. Sonoco Products is a company that is always about bettering their customers as well as their employees. There have been several changes made to the process of operations and leadership throughout the business. Value Discipline I am having a little trouble trying to find the right words for this section. Team, I need your comments on...
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...Strategic Choices and Evaluation Name: Subject: Date Strategic Choices and Evaluation Value Discipline Strategies These are strategies that will allow Vizio Inc. to provide the best offering in their market places by excelling in a specific dimension of value. The company should adopt the best value discipline that is compelling and unmatched and off course one that maintain the threshold standards on other dimension of value. There are three different kinds of value based on the value proposition namely operational leadership, product leadership and customer intimacy (Treacy & Wiersema, 2004). Operational Excellence Vizio Inc. is an electronics company that need to be operational excellent to ensure its definite and rapid growth in all its strategic activities. The company ought to deliver a combination of quality HD entertainment products including home audio systems, high definition televisions, personal computers, tablets and accessories, efficient prices for its entertainment products and also enhance the easiness of purchase that no any other competitor in the market can match. The company should start viewing itself as not a service innovator or product innovator and should also not cultivate one-to-one relationship with the customers. The company should learn to execute extra-ordinarily well and their proposition to their mass customers should be guaranteed low prices and hassle-free services. Vizio Inc. should adopt the four characteristics of operational...
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...Buckle, Inc. Strategic Choice and Evaluation Takeisha Gilbert University of Phoenix STR-581, Strategic Planning and Implementation Instructor: Suchitra Veera The Buckle has had the opportunity to experience stability in a fluctuating market. Other organizations within its market have had close stores, file bankruptcy, lay off workers, and change distributors to save cost. It is important to understand the value discipline, generic strategy, grand strategy and rational that was essential in helping Buckle, Inc remain successful during economic hardships. Recommendations for what the organization should implement in future strategic planning will be given. Value discipline The Buckle recognized that in an economy where consumers value quality items but are dealing with decisions to buy based on affordability should always offer layaway services. This service allows consumers to afford expensive brands that express individualism with stress free payment plans. Consumers no longer have to worry about handing over large amounts of money at one time but make timely payments before the end of the layaway period. The value the organization had to offer is (1) high end merchandise, (2) layaway opportunities (affordability), (3) custom screen printing services (customer service option, and (4) alteration service. No matter what a consumer’s wallet may look like it is a realization that he or she can still afford luxury brands with the layaway option....
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...* * * * * Strategic Choice and Evaluation Paper * Tanya Gurule * University of Phoenix * STR 581 * Leon Baudot * June 22, 2012 * Strategic Choice and Evaluation Paper * Starting a new company could be a very challenging feat. Finding the right demographic, location, and product could become a very intense endeavor. A comprehensive detailed strategic plan will be needed to ensure a new company’s success. Modesty Apparel Company is no exception to this process. * Mission, Vision, and Value Statement * Modesty Apparel Company is a new store which will cater to the modest women in Denver Colorado, and across the United States on line, and in time. As our name suggests, modesty will provide modest clothing and accessories, as we position ourselves at the top of this particular market. Modesty is the first and only Christian Clothing store in the city of Denver. The intention of Modesty is to obtain 70% market share for the modest women population. We at Modesty intend to provide opportunity to purchase clothes and accessories which make women feel modest, yet be fashionable. What will Modesty Look like? Modesty is a small boutique, which will be based on a familiar setting of many clothing stores. The store front will be placed in a strip mall in the Cherry Creek area of Denver. Upon entering the store, the view to the left is clothing racks filled with modest apparel for the plus...
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...Strategic Choice and Evaluation United Natural Foods, Inc (UNFI) “is the leading U.S. independent national distributor of natural, organic, specialty foods and related products, including: nutritional supplements, personal care items, and organic produce” (UNFI, 2012, para. 1). UNFI started out as Mountain People’s Warehouse in 1976, when people started becoming interested in natural product. In 1996, Mountain People’s Warehouse and Cornucopia Natural Foods merged and formed United Natural Foods, Inc. Today the company employs 6,900 individuals throughout the United States and Canada. This paper is going to evaluate the best value discipline, generic and grand strategies, and the recommended strategy UNFI should implement in the organization. Best Value Discipline Value disciplines are strategies that center on delivering customer value through operational excellence, customer intimacy, and product leadership (Pearce & Robinson, 2011). Operational Excellence Operational excellence is the approach to the production and delivery of products and services. Using this approach the organization leads the industry in price and convenience by focusing on lean and efficient operations. Organizations using this approach work hard to minimize costs by reducing overhead costs, eliminating unneeded production steps, reducing transaction costs, and optimizing business processes (Pearce & Robinson, 2011). To implement this strategy organizations generally restructure their delivery processes...
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...Primerica Life Strategic Choice and Evaluation Shauntel Reeves STR/581 April 7, 2014 Charles Millhollan Strategic Choice and Evaluation It is very important for organizations to identify different alternatives in order to continue growing within an industry. Primerica Life is a company that offers life insurance, investments, and financial education. Primerica finds that they are in a very competitive industry and must discover their competitive advantage. The paper will discuss the strategic choices and evaluation that Primerica will need to consider to realize growth in the industry and to achieve long term objectives. Generic Strategy Generic Strategy is “a core idea about how a firm can best compete in the marketplace” (Pearce & Robinson, pg. 195). Primerica must look at the three generic strategies to gain a competitive advantage in the industry. The three strategies consist of low cost leadership, differentiation, and focus. “Advocates of generic strategies believe that each of these options can produce above-average returns for a firm in an industry” (Pearce & Robinson, pg. 195). Focus Primerica will perform best using the focus strategy. The focus strategy is when “a firm targets a specific, often narrow, segment of the market. The firm can choose to concentrate on a select customer group (youths or senior citizens, for example), product range, segment of a market (professional craft persons versus do-it-yourselfers), geographical areas (East...
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...Strategic Choice and Evaluation Costco Wholesale Corporation (Costco) operates a membership-only warehouse that sells quality products and services at an affordable price. Costco remains an organization known for providing quality goods and services at the lowest possible prices (Costco, 2013). This paper evaluates Costco’s strategic choices and evaluates considerations for growth. The paper identifies the best value discipline, generic strategy, and grand strategy for Costco. Finally, the paper includes a recommended strategy for Costco to implement. Best value discipline According to Pearson and Robinson (2013), consultants Michael Treachy and Fred Wiersema described the Value-Discipline Model as a strategy took to help organizations recognize what the organization wants their customers to value them for. The Value-Discipline Model focuses on three areas for an organization to focus on, operating excellence, product leadership, and customer intimacy. Of the three areas of the Value-Discipline Model, customer intimacy best describes Costco’s business model. According to Pearson and Robinson (2013), “a strategy of customer intimacy continually tailor and shape products and services to fit an increasingly refined definition of the customer” (p. 198). Customer intimacy differentiates Costco from competitors with low prices and hassle free service. Costco’s mission statement states the importance of providing “quality goods and services at the lowest possible prices” (Costco...
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...Strategic Choice and Evaluation Paper Target Firm: Hamilton Sundstrand is a subsidiary of United Technologies Corporation and is among the largest global suppliers of technologically advanced aerospace and industrial products. With more than 50 major facilities worldwide, Hamilton Sundstrand designs and manufactures aerospace systems for commercial, regional, corporate, and military aircraft, and is a major supplier for international space programs. Introduction A company is continuously faced with decisions to select among the factors that would make the business more attractive and focus on the ones that defines and aligns with its visions of “what it would like to be”. A company can overextend itself by attempting to have the best service or delivery time, the highest quality product, and the lowest cost; and could possibly result in failure. Therefore, it is inherent that a company use strategic planning to focus on primary objectives for long-term preparation and success. Hamilton Sundstrand and its sister companies are already market leaders in many established and mature markets; however, in order to continue its growth in the near future an examination of its long-term objectives is necessary. According to Pearce and Robinson, Strategic Management: Formulation, Implementation, and Control, there are seven common categories of long term objectives: profitability, productivity, competitive position, employee development, employee relations, technological leadership...
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...strategies for the organization in order to ensure that the business remains viable. The strategic choice of the organization is critical for the achievement of both short term and long term goals of the organization. Organizational leaders and analysts must therefore conduct a thorough evaluation of various strategic alternatives by analyzing the risks involved, organizational capabilities, external environment, and whether the strategies form a good fit with the objectives and values of the organization. (Peng and Dess, 2013) A good strategy will ensure that the organization operates at its maximum potential and achieves exemplary performance. The strategic approach that the organization adopts will however depend on the organizational culture, organizational structure and leadership style. (Abu-Jarour, 2014) The bottom line is that organizations will design strategic plans that seek to improve customer satisfaction and service quality, gain competitive advantage, improve business processes, attract and retain employees and manage their costs. Strategic Alternatives In developing and adopting a strategic choice, an organization has to put into consideration various strategic alternatives that are crucial in making a decision on which strategy to adopt. An important step in this process includes identification and evaluation of the best strategic alternatives for the organization. Evaluation is done on the basis of suitability, feasibility and sustainability of the strategy (Jasper...
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...Strategic Choice and Evaluation Dolores VanHorn STR/581 10/07/2015 Tugtekin Gokaydin Strategic Choice and Evaluation Abstract The purpose of this evaluation is to bring focus to the strategic choice and evaluation process. There are levels of direction involved the strategic choices that a company makes and those methods can likely determine the success of a company well in advance. This evaluation will include the value disciplines that can benefit A Life After Community Living. The generic strategies that will implemented to support the overall goal of growth for the company and the grand strategy which will include insight into the trends of the market and the individuals served by A Life After Community Living. Researchers have found empirical data that supports that organizational views reflect the characteristics of senior management, (Geletkanycz, M. A., & Hambrick, D. C. (1997). Strategic Choice and Evaluation Choosing the ideal strategic direction is paramount for long lasting growth and revenue of Life After Community Living. The residential recovery community is extremely competitive, however there is a smaller market for service providers that can offer after care residential services for the masses. This company must analyze the trends of the community and the population that it serves to make strategic choices that have value for the stakeholders. A value discipline will be identified to set a proper foundation...
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...Quantitative Strategic Planning Matrix (QSPM) also called the decision stage is a strategic-formulation tool that uses inputs from Stage 1/ Input Stage to objectively evaluate feasible alternative strategies identified in Stage 2/Matching Stage. Stage 1 summarizes the basic input information needed to formulate strategies while Stage 2 or Matching Stage focuses upon generating feasible alternative strategies by aligning key external and internal factors. A QSPM reveals the relative attractiveness of alternative strategies and thus provides objective basis for selecting specific strategies. In order to understand the benefits and limitations of the QSPM tool, it is important to understand the essential attributes needed for a QSPM analysis to be effective and also the steps needed to develop a QSPM analysis. This essential attributes in a QSPM analysis include the development of External Factor Evaluation Matrix (EFE) and Internal Factor Evaluation Matrix (IFE) followed by a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, BCG (The Boston Consulting Group) and finally QSPM. Attributes of QSPM External Factor Evaluation Matrix (EFE): EFE is a strategic tool used to evaluate the external environment of the firm which includes the economic, social, technological, government, political, legal and competitive information. External factors are obtained after an in-depth analysis of the external environment. External factors can be divided into two categories opportunities...
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...Sample Outline for a Strategic Communication Action Plan The following is an example of an outline for a strategic communication action plan for XXXX County Schools based on the recommendations from an NSPRA Communication Audit Report. The suggested goals were taken from the guiding principles, objectives and action steps detailed in the recommendations in the report. The plan also indicates which of the district’s strategic directions (or goals) the communication goals most directly relate to. Please note that this is an outline and not a complete plan, as there are sections that Communications Office staff and administrators need to address, such as budget, timelines, responsible parties and evaluation measures. Ongoing communication and public relations activities should also be added. While this represents a substantial start on developing a comprehensive communication plan, it requires the input and direct involvement of XXXX County Schools staff and patrons in order to prepare a final plan. Strategic Direction: Highest Student Achievement Suggested Goal: Position XXXX County Schools as “the district of choice” for quality teaching, learning and student achievement. Objectives • Develop clear, consistent messages that are delivered in “one clear voice.” Action steps: ♦ Create a theme. Target audience: Staff; parents; community Budget: Timeline: Responsible persons: Evaluation measures: ♦ Develop key messages for staff, board and key communicators. Target audience:...
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...SUPPORT@WISEAMERICAN.US PAD 500 WEEK 3 DQ “Planning, Implementation, and Evaluation” Please respond to the following. Note: Online students, please respond to two (2) of the following three (3) bulleted items. • Evaluate the importance of each major step in policy analysis as it relates to political choice. Next, debate if one would consider any of these steps more important than another. Provide a rationale to support your answer. • Consider Luther Gullick’s views on the division of work. Discuss the overall manner in which the division of work that Gullick espouses impacts the size of public administration. Provide two to three (2-3) examples of such an impact—or lack thereof—in order to support your response. • From the e-Activity, select two to three (2-3) aspects of the U.S. Office of Personnel Management’s (OPM) 2014-2018 strategic plan that would mostly likely be difficult to implement, and analyze the main reasons why the aspects in question would make implementation such a challenge. Next, suggest one (1) method that a policy analyst could use in order to implement the strategic plan overall. Provide a rationale to support your answer. PAD 500 WEEK 3 DQ “Planning, Implementation, and Evaluation” Please respond to the following. Note: Online students, please respond to two (2) of the following three (3) bulleted items. • Evaluate the importance of each major step in policy analysis as it relates to political choice. Next, debate if one would consider any of these steps more...
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...system. AHERF was not the only health care provider pursuing this strategy. In fact, this was the dominant strategic direction proposed by industry an-alysts and managers alike. Within a few years, AHERF was one of the largest integrated health care providers in the United States and its CEO was hailed as a visionary. By 1998, AHERF was also bangkrupt. In the early 2000s, Sumsung Corporation launched a strategy to revitalize its consumer video electronics business. Long regareded as a low- quality brand, it sought a quality leadership position in the fledgling market for digital home entertainment, including high definition television (HDTV). Samsung embraced digital light processing (DLP) technology. Cheaper and fatter than plasma, more expensive and thinner than traditional rear projection televisions (RPTVs) , Samsung’s DLP televisions offered a picture quality that equaled or beat either alternative. Samsung’s first generation DLP sets garnered rave reviews from speciality magazines and web sites. The technology appealed to critical early HDTV adopters who did their research and ignored the brand reputation. In fact, samsung’s reputation has improved since the launch of DLP. It has successfully entered the market for high-end plasma market. It takes little imagination to come up with a strategy. In fact, almost all managers can easily identify any number of strategic options for their firms. Here are a few popular business strategies, with examples of firms that have pursued...
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