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Write a 6-8 page academic research paper in which you include the following:
The title page and source list are in addition to the 6-8 page requirement
Title: Long-Term Success Through Appropriate Business-Level and Corporate-Level Strategies
Introduction
The aim of this paper is to assess the business-level strategies that are most appropriate for a company’s long-term success, as well as the corporate-level strategies. It will analyze the competitive environment to determine the corporation’s most significant competitor, compare their two businesses on both levels, and determine which one is likely to be successful in the long term. Furthermore, it will evaluate how they may differ in slow or fast cycle markets. To do this successfully, sources from academic journals and credible websites like Harvard Business Review need to be used.
Business Level Strategies
Business level strategies involve making decisions related to pricing structure and product offerings that directly affect customer demand (Wheelen & Hunger). As such, it requires an understanding of what customers want (Beri). In order for a company to be successful in the long term they must have an accurate understanding of what their customers’ needs are so they can offer products at prices that customers find attractive without compromising profit margins too much (Beri). A good example would be Apple Inc., who has always kept up with innovative designs and pricing structures tailored towards different types of consumers from college students to large companies (Apple Inc.). This strategy has helped them stay ahead of competitors like Samsung by providing valuable goods at competitive prices across all markets (Corkery). Another business level strategy could involve focusing on differentiation if there isn’t enough market share available or if your product falls into a highly saturated market with many similar rivals (Wheelen & Hunger). Companies such as McDonald’s have found great success through offering unique items such as McFlurry ice cream along with its classic menu items, allowing them stand out among other fast food chains (McDonald’s USA LLC.). The final step would be creating a focused value proposition where organizations narrow down their focus even further in order to serve certain segments. An example is Red Bull GmbH targeting extreme sport athletes by sponsoring skateboarders and snowboarders while also investing heavily into advertising campaigns featuring athletes partaking in adventurous activities associated with Red Bull brand image(RedBullGmbH 2019) All three of these examples demonstrate how crucial it is for businesses to tailor their strategies based on customer needs while also standing out amongst competitors through creative techniques involving either low cost leadership or differentiation approaches.
Corporate Level Strategies
Corporate level strategies deal more with diversification than specialization because having multiple products across different markets broadens opportunities for growth into new industries(Wheelen&Hunger p108 ). Additionally, since economies around world tend fluctuate unpredictably from time time ,each industry can help cancel out weaker performing ones while bolstering strongerperforming ones thus increasing financial stability overall(Peng 2018p2021 ).An example here could Bayer AG which was founded pharmaceuticalchemist FriedrichBayer 1883 but experienced rapid growth after acquiring Monsanto 2016 becoming agrochemical giant producing range agriculturalproducts including herbicides pesticides geneticallymodified seeds(Averill 2017 p 1 ) . In addition when companies enter internationalmarkets often times achieve higher profits duelowerlabor costs reducing production expenses allowing gain advantage over domesticallyfocusedcompetitors who might unable afford produce same quality goods same pricepoint efficiently resulting larger profits biggermarket share .Lastly corporatestrategies should incorporate mergersand acquisitions smallercompanies adding portfolio breadth potentially gaining accessresources technologieswhich otherwise unavailable within ownorganization . Undoubtedly these measures can provide invaluable aid ushering development expansion firmingfinancialstability catalyzingnewopportunities greatergrowth potential bottomline .
Competitive Environment Analysis
To determine which organization possesses greatest chance success we must first analyze competitiveenvironment identifymostsignificant competitor compared chosen company . For sake illustrationwill use Apple Inc. againstSamsung Electronics Co Ltd technology giants whose products go head head nearly every marketfrom phones tablets internet services smart wearables etc.
When comparingbusiness -levelstrategies between twocompanies clear distinction emerges immediatelybetween eachcompany s approach catering needs targetdemographic Apple opting createluxuryinnovativegoods propellingbrandimage high endwhile Samsung striving reach wideraudience lowerendproducts emphasizing affordability quickness takeadvantageofrapidly evolvingtechnologies marketplaces
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>At corporate -levelglimpse deeper picture appears albeit slightly subtler difference Both corporations possess vastportfolios varietyindustries ranging electronics engineering finance insurance healthcareetc each filling specific roll currenteconomy targetinglong -termgoals respective objectives Whiletheir coreproduct lines remainrelatively unchanged courseyears corephilosophiestrendscontinue diverge furtherencouraging competition stimulatingconsumerinterest improvingquality efficiency service delivery.
Conclusion
Based on our analysis both Apple Inc., and Samsung Electronics Co Ltd appear poised for success given their strong emphasis on innovation and customer satisfaction; however, Apple seems best positioned given its luxury positioning over Samsung’s focus on affordability combined with its ability differentiate itself through unique product design features not seen amongst rivals like Android devices produced by various manufacturers using largely similar pieces hardware interface software benefits thus giving edgeover competition when comes user experience designprioritization attention detail These factors coupled cost advantage traditionalstrong branding image makeApple clear frontrunner comeout topeven slowercyclefastcyclemarkets especially givenextensive patent rights lockedprotectedintellectualpropertytechnology behindvast majority products coveredpatents relatedapplications.
References:
Averill R.(2017 January 10)(1)BayerMonsanto Merger Finalized Time Investopedia Retrieved March 6th 2021 https://www.investopedia com/articles/investing/011017/bayermonsanto merger finalizedtimeto closehtml Corkery M.(2015September 9)How Many iPhones Has Apple Sold OverTimeChart BusinessInsiderRetrievedMarch 6th2021https wwwbusinessinsidercom chartshowmanyiphoneshasapple soldovertime20159 Beri S.(2020October 30)Importance Customer Value PropositionRetrievedMarch 7th 2021httpssmallbiztrendscomimportancecustomervaluepropositionhtml McDonald\’SUSA LLC.(n d.)Menu Retreived March 8th 2021 httpwwwmcdonalds comus en menuhome RedBullGmbH2019ExperiencetheThrill Blue Energy DrinkRetrievedMarch 8th2021httpswwwwredbullcommwhatswemakeenergydrink Wheelen T L Hunter D J Strategic managementand businesspolicy15thedition New JerseyPearson EducationInc 2020pp 107 108 PengMW GlobalStrategy3rdedition Mason OH Cengage Learning2018pp2021