Corporate strategy Essay Example
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Corporate strategy Essay
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The corporate strategy is the process of bidding the organization together – Corporate strategy Essay introduction. It may involve bringing together all the functions of the organization and guiding them to have set principles for them to follow, thus ensuring they have their own strategies and their own rights. The corporate strategy thus is a process by which the organization uses its resources, systems and processes considering their business environment in respect of attaining their long and short terms goals and the organizations objectives.
The corporate strategy is more concerned mostly with the organization commitments and choices regarding the markets, the business itself and the nature of the organization.
In regard to the investments banks, the corporate strategy will well be employed in the respect of potters five strategies theory which include, planning, pattern, ploy, position and perspective.
Employment of corporate strategy in Investments banks
There are various and different aspects that are considered or can be considered in respect of the success of the investments banks using the corporate strategies.
Each organization exists in the market just for earning profits through the considerable fulfillment of the needs of the consumers’. To afford this, the investments banks always have a vision and mission to fulfill in mind. Therefore the corporate strategy will set a specific roadmap for the organization in order to attain the set long term goals and objectives and therefore the organization will take in to account the set missions, visions as well as the corporate culture of the investments banks. The area of marketing has affected the functions of other areas of activity in the organizations. Therefore for effective functioning of the corporate strategy, it has to be intertwined with the marketing strategy. (Igor, A. 1965, p. 45)
Today’s investments banks need to understand the purpose of the corporate strategy in order to achieve a unique position in the competitive global business market orienting them in the business environment globally. Though it’s becoming expensive due to competition, they need to create and implement a branding strategy which is effective for the corporations. This strategy will enable them acquire an enhanced value in the market field.
For the organization to measure how effective is their strategies, they need to perform a SWOT analyses so as the organization may be able to figure out the strengths, weaknesses, opportunities and threats for both internal and external of all the entities in question. This may help the organizations to come up effective measures that either may give the company a clear way either to change the strategies in use or continue implementing them. In this regard the organization will be able to measure the suitability, acceptability and feasibility of the strategy. (Barney, J. 1991, p.1)
By having the well planned strategy, the company may a competitive advantage in the market that may lead to successful business and in return will be able to overcome the challenges. The organization may not only gain advantage in the market by lowering its product prices but will merely depend on the representation of the company in the market.
The investments banks are some of the organizations that need to completely implement the use of corporate strategies to ease their business, they provide both buying and selling of securities to both individuals and the government, poor implementation of the strategy may lead the company to a worst side of the business by loosing customers whether they hold a higher position in the market. The organization should always be aware that rivals are still at the back of the company to win the market over it, therefore the capability of the rivals should not be ignored or underestimated.
The leadership of the company should also be in a specific strategy that will enhance the success of the company in the market. Bureaucracy would be most needed to avoid viability of the results in the market. By the use of laid strategies will enhance the company to take advantage over the rivals in the market.
The understanding of the corporate model will give the company a clear format on implementing the required strategies for the welfare of the business. (Chaffee, 1985, p.1)
A summery of model of the elements of strategic management
Excerpted from http://www.ifm.eng.cam.ac.uk/dstools/paradigm/corpst.html#top
In every business there need to have strategies that will enhance the company exist in the market and is getting the set advantage both in success and in hardship. The uses of strong strategies that have more power and will give a company an easy way towards achieving it goals are best recommended for implementation.
The company needs to understand the strategies the rivals are using in the market while analyzing their SWOT and comparing it with the rivals SWOT. This will give the organization understand the areas that needs improvements. The recognition of the company in the market by consumers will enable the organization use its current customers to get new ones.
Barney, J. 1991, Firm Resources and Sustainable Competitive Advantage: Journal of Management, vol 17, p. 1,
Chaffee, E. 1985, Three models of strategy: Academy of Management Review, vol 10, P. 1,
Igor, A. 1965, Corporate Strategy: McGraw Hill, New York,
University of Cambridge, 2008, Corporate strategy, retrieved from http://www.ifm.eng.cam.ac.uk/dstools/paradigm/corpst.html#top on 05/09/2008