trategic Management: Reading . vialiageis are someumes crucized ior iocusing too

Question

trategic Management: Reading . vialiageis are someumes crucized ior iocusing too mucin attenuon on he acinievemeni short-term goals. In your opinion, how much attention should be given to long-term versus short-term goals? In the event of a conflict, which should be given priority? Explai your answers. 2. Which strategy-business or corporate level -should a firm develop first? Describe the relationship between a firm's business- and corporate-level strategies. 3. Volkswagen sold its original Beetle automobile in the United States until the 1970s. The original Beetle was made of inexpensive materials, was built using an efficient mass production technology, and offered few options. Then, in the 1990s, Volkswagen introduced its new Beetle, which has a distinctive style, provides more optional features, and is priced for upscale buyers. What was Volkswagen's strategy with the original Beetle- product differentiation, low cost, or focus? Which strategy did Volkswagen implement with its new Beetle? Explain your answers 4. What kind of plan -tactical or operational-should be developed first? Why? Does the order really matter? Why or why not? s. Cite examples of operational plans that you use or encounter (now or in the past) at work at school, or in your personal life

Explanation / Answer

1) I believe that short term goals lead to long term goals. It is important to focus on both types of goals. I believe that in the conflict, short term goals should be given a priority because like I said, short term goals lead to long term goals. According to me, a 50-50 ratio of importance should be given to long term and short-term goals.

2) A corporate strategy is when the firm decides which industry or industries they want to compete in, deciding the geographical areas, etc. A business strategy is where the firm decides what type of resources and capabilities should the company develop to have an edge over the competitors. The business strategy basically involves the day to day strategies and is taking by the mid-level managers. Corporate strategy is made by the top-level managers. The corporate strategy is developed first to define the strategy based on which the business strategies are made.

3) The strategy used by Volkswagen with the original beetle was low cost, as the cost of manufacturing featured less cost and it had fewer options to sell. The strategy used in the new beetle was product differentiation as they added new features that makes it stand out and it focused on upscale buyers.

4) Tactical plans are developed first and then operational plans. Tactical plans refer to the plans on how the strategic plans are put in action, the resources needed are shortlisted, tactical plans are developed for various departments. Operational plans are on how to execute the tactical plans and to gain the goal defined. The order matters because it is a step wise process, first comes strategic plans, it narrows down to tactical plans and further narrows down to operational plans.

5) As per my experience, I believe even planning a day is an operational plan. We know the goal to be achieved is a list of work to be completed in the day. Operational plan is when I plan on which one is done first, and how I will move on to the next one. In School also, the management define the strategic plans, the teachers define the tactical plans and we students define the operational plans to achieve the said goals by our teachers.

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