Explain the generic business strategies for any company. Include cost, different

Question

Explain the generic business strategies for any company. Include cost, differentiation, and focus or hybrid information.

Analyze the business strategy the company uses in its marketplace approach. Provide examples of how the strategy is used to position the company in a competitive environment.

Analyze the company's business model.

What are the core products?

How does the organization make money?

What is the customer value proposition?

What is the profit proposition?

Analyze the corporate strategy of the company. Include the product, geographical, and vertical scope in which it operates.

Has the company expanded from its original product line or field of operation?

Does the company own vertically related activities along the value chain for its products?

Analyze the overall corporate structure and key management systems.

Does the company employ diversification, vertical integration, or globalization?

Are global alliances part of the corporate strategy?

Analyze the strategic fit between the business and corporate strategies of the company.

Explanation / Answer

The company which I have considered is a handloom industry named boyanika. It follows differentiation strategy for all customers. The quality of the products is not comparable with the competitors. It charges comparatively high price as it is hand-woven. The business strategy which boyanika uses is quality, comfort, longevity over others. These are the factors which distinguishes it from the other market players. When most of the products are GI accredited it gives assurance of the quality. Not only in India, it also targets foreign countries. They go for national and international exhibitions in which they showcase their products and a huge demand is found among people. The business model works on development of the weaver community which is the second largest occupation in India after agriculture. 80% of the profits goes to the weaver community. The core products are sarees, kurta, kurti, shirts etc. The organization is a government run business where their motive is developing the weaver society rather than profit. With a proper management in place, boyanika is making 20 crores profit after restructuring. It is a self-sufficient company. The CVP of boyanika is " our quality our pride". With 6 decades of legacy and ISO certification, that are self-promoted. Profit proposition is "pay for what you get". The corporate strategy is to serve everyone with the exquisite collection. The products are available throughout India without any shipping charges and delay. It is also available for international shipping. Yes the company has expanded from its original product line by including several new products. The company is only vertically integrated with the suppliers i.e. the weavers. It doesn't sell or have intermediaries as there is a high chance of fraud. They are very cautious about the products and their brand name. The corporate structure is very simple as it contains less hierarchy and they work closely with each other. They have integrated new blood into the organization after 15 years to develop the company. It has also training and development programs to develop employees. It is headed by an administrative officer i.e IAS officer who are highly workaholic and thrive for excellence. Yes, boyanika employs diversification, vertical integration with suppliers and globalisation as it is exploring new foreign requirements. Yes, for advertisements, they are planning for global strategic alliances. There is a strategic fit between the business and corporate strategies, it doesn't aim for higher profits rather focuses primarily on customer and employee satisfaction.

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.