Please answer this question. Be specific with your response. This question is fr
ID: 359521 • Letter: P
Question
Please answer this question. Be specific with your response. This question is from Business Strategy text listed below Chapter 13. Thank you in advance.
Suggest why different approaches to strategy development might be appropriate in different organizations such as a university, a fashion retailer, a diversified multinational corporation, and a high-technology company.
References
Johnson, G., Whittington, R., Scholes, K., Angwin, D., & Regner, P. (2016). Exploring Strategy: Text & Cases (11th ed.). Harlow, England: Pearson Education Limited.
Explanation / Answer
From the above we see the basic goal for each is similar, so they want to get there, but the modes are completely different which is visible by their basic mode of operation as shown by the funcation vision and mission.
So as the core operations and their value driving resources are completely different they need to have different strategy.
So the reasons for different strategy are:
Goals Working Vision and mission University Make profit by providing exemplery education Have great staff and facility to achieve the goal A fashion retailer Make profit by selling clothes Have great partners and sources A Diversified Multinational Make profit by managing several businesses Collaboration among all businesses and use synergy to achieve High tech company Make profit by innovation Invest in R and D