Wooden Horse strategies by Brian Mefford provide the most effective strategies for businesses.
Growth platforms are designated initiatives chosen by an organization’s management team to drive revenue and earnings growth.
These are specially designated initiatives chosen by a business to boost earnings and revenue growth. Growth platforms could be tactical or strategic. Strategies for growth are more long-term strategies for large-scale revenue growth. Common examples of strategies for growth include seeking out specific and innovative product categories. The introduction of different distribution avenues, horizontal or vertical integration. Brand new products development. Examples of growth platforms are:
Types of Strategies
Horizontal integration: The merging or acquisition of business operations. One instance of horizontal integration could be Apple entering. The market for search engines or a brand new industry that is related to smartphones and laptops.
Vertical integration is the process of integrating different stages of marketing. Production process under the control or ownership of a single organization. A good example is the acquisition of a gas station by a refinery oil.
Diversification is a corporate strategy that involves the acquisition of or creation. A business that is different than its existing product. Diversification could occur at the level of a business unit or the company level. At the business unit level. The most likely scenario is to require expanding into a new sector of the industry within which the company is already competing. On the corporate level, it usually means entering an industry that has potential outside of. The boundaries of the current business unit.
Other Product / Market Growth Types
Market penetration is when a firm enters an area where current products are already available. This method usually requires competitive power, a well-established brand. Both since most market penetrations require the company to actively take market share away from incumbents. This is a risky and frequently risky method of growth.
Market Development Strategy
Market development strategies aim to increase the market by adding new customers or new applications for the product. The best way to accomplish this is by identifying the unique requirements for a specific kind of customer. Then satisfying the requirements. Market research is crucial to the development of strategies
New Product Development
In engineering and business, New design development (NPD) involves creating and researching an innovative product to market. Finding new requirements or methods to meet them and creating a new method or product that meets them. This objective is the purpose for this strategy to grow. NPD involves an investment in research and development typically over a long period with a lot of trial and trial.
Consolidation (or amalgamation) is the process of combining two or more businesses into one. In the field of strategic management. It is usually referring to mergers and acquisitions of several smaller companies to create larger ones. Consolidation occurs when two firms join to create a new business, but none of the businesses survives on its own. The rationale behind consolidation is the development of economies of scale and economies of scope new sites. New technologies, or any other kind of enhanced capacity to compete.
Mergers and Acquisitions
M&A or mergers, as well as acquisitions (M&A), are a part that is part of corporate strategies, finance, and management that involve the selling, buying, or dividing of various businesses and similar entities. This could help a business to grow quickly in its industry or its place of origin. Expand its reach into a different area or a new one. M&A differs from joint ventures or other types of strategic alliances in that mergers and acquisitions seek to create a unified organization.
A merger is an amalgamation of two or more companies that each one of which abandons its prior brand and business model. Resulting in an organization that is based on the capabilities of each one.
In the true sense, it is a merger that occurs when two businesses. Typically, roughly the same size decides to form one new entity instead of remaining independently operated and controlled by each.
The most famous instance of consolidation would be the merging of Bell Atlantic with GTE, from which came Verizon Communications. A merger that comes with an entirely new name can be effective. In the case of combining the two companies into YRC Worldwide. The combined business lost the significant worth of Yellow Freight and Roadway Corp.
The primary reason given to justify M&A activities is that the acquiring companies want to improve their financial performance
The cultural conflict between two organizations is not uncommon because of the vision, mission. Values of people and groups within these organizations are likely to be different. Making this strategic change is a challenge and fraught with conflicts
Global strategy, described in terms of business is an organization’s guide for exploring different geographical markets.
When to Go Global
A global approach may be beneficial in sectors where companies are under pressure. To cut costs but are not able to react locally. Globalization means that these companies can offer a standard product globally
Globalization isn’t just about cost-saving, but. Differentiation strategies can also help in achieving economies of scope. Such as satisfying different requirements in different markets by offering similar products or creating new products. That is based on the consumption patterns and requirements of a brand new market. Differentiation as part of global strategies will typically require localization companies have to adapt. To change tastes of consumers more effectively to be competitive in the new market
The most popular and fundamental motives for globalization are building connections with suppliers. Increasing access to the raw substances (unique to a particular region). As well as reducing costs by utilizing different regions’ specializations. Starbucks procures coffee beans from across the globe and the climate has a significant impact on the quality and type of the beans. Starbucks’ glin globalization strategy. Which has its stores in numerous countries, is heavily dependent on the availability of global sources. Managers of strategic importance must be aware of this process to determine cost and benefit.
Corporate Strategy Implications
For instance, businesses should perform a PESTEL study for every region they operate. Be aware of the cost and competitive differences across regions. For instance, the tariffs in country A could be higher than those in country B. yet countries B have fewer customers who are willing to spend a higher price for the item that the company is selling. Managers need to do a cost/benefit analysis to determine which one provides the greatest profit potential. This is how strategists integrate global issues into their strategic management.