Using the company you selected for the Week 3 Learning Activity (Kroger or Nike)
ID: 324904 • Letter: U
Question
Using the company you selected for the Week 3 Learning Activity (Kroger or Nike), it is now time to evaluate the strengths, weaknesses, opportunities and threats you uncovered and determine what strategy is best suited based on the outcome of the IFE and EFE.
Could someone please help me with this question. The company I pick is Nike.
Discuss which generic business-level strategy is best suited to keep the company you selected competitive. Offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting
Explanation / Answer
Nike’s generic strategy for competitive advantage generally gives emphasis on product mix diversity. Thus generic strategy refers to a process through which organization attains and preserves its competitiveness however Nike must ensure that its generic strategy and exhaustive growth policies are suitable for its present business circumstances.
Nike’s cost leadership generic strategy intends to maintain a competitive advantage normally based on overhead expenses. However in generic strategy process business attempts to lessen its operational expenses to maximize its profitability.
A strategic objective based on the cost leadership generic strategy is to develop the business competitive advantage through implementing the latest available technologies in order to lessen the operational expenditures. However the financial objectives based on the differentiation generic strategy is to make the most of Nike’s revenue margins.
However the cost leadership generic competitive strategy facilitates Nike to penetrate markets based on ensuring availability of economic products. A strategic objective connected to market penetration is to augment Nike’s market presence by increasing the official representatives in the market. However the financial objective correlated with intensive growth strategy is to boost Nike’s trade earnings through increase in sales in the present market.
Diversification can sustain and preserve Nike’s generic competitive strategy of differentiation through novel business ideas that can ensure to provide stuffs for product innovation. However a strategic financial objective based on exhaustive growth policy is intended towards improving Nike’s financial risk by entering into other diversified markets.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.