Competitive Strategy Big or Middle or Small Companies

Question: Discuss about theCompetitive Strategyfor Big or Middle or Small Companies. Answer: Strategy The meaning of the term Strategy is most importantly needed to understand by the researchers and marketers of any company. There are several big or middle or small companies whose basic strategy is to sell their products to their customers at minimum cost. By the help of a strategy, the managers of a company can able to set or plan the requirement of the company and their customers. However, the strategy of a company is not only an approach or method to improve the organizational process but also it can able to describe the companys goal. The most important objective of a strategy is to help the company to achieve their fundamental goals for competing within the market. Actually, from the art of the war of SUNTZU, the idea of making a strategy has come. From the war art of SUNTZU, it can be said that losing is a bad strategy and winning is a good strategy (Dekker, 2013). A good strategy always helps a company to reflect their desired outcomes in a considerable way through which a com pany can able to gain benefits in future and also can able to evaluate that the marketing plan gives profit for the long run or short run. The strategy also helps a company by differentiating the similar products within the market. The company should need impression, sensation, reliability, consistency and a good level of satisfaction within their clients and customers for preparing an effective strategy for the company (Liu, 2009). During the time when the marketers or the researchers of a company prepare a strategy then they need a great brand image of that particular company to make the strategy successful. The brand image of any company actually helps that particular company to maintain their reputation or goodwill within the market and also helps them to gain the trust and belief of their customers about their goods and performance. According to the given research study, the researchers can able to understand the application of strategy within an organization by the help of the strategy which is put into practice in IKEA organization. This organization runs a business of contemporary furniture. The main strategy of the IKEA organization is to sell domestic furniture at minimum cost (Zenger and Stinnett, 2010). They basically want to sell their products at minimum cost into their showrooms for just receiving their desired orders at the high level. Instead of this strategy the IKEA organization also has an effective marketing strategy which helps the organization to develop and gain more success in the future. The main objective of the company to implement an effective strategy into their company is that they can able to provide a better quality of services and furniture products to their customers to grab the entire target segment within the market. The IKEA organization also prepares some other strategies throug h which they can able to sell their products which are designed uniquely and also able to develop the design of Scandinavian. The IKEA organization have several issues regarding the complexity of the furniture design, the service quality towards their customers and the products which are sold by them within the market. Henry Mintzberg helps the IKEA organization to understand the main differences between the intended strategy, realized strategy and emergency strategy. Business Model Innovation In the recent days, innovative works became the latest trend for continuous growth within the organization. This innovative works also helps the organization to sustain within the market for long-term. In the recent days, innovation in manufacturing a product becomes an essential aspect for the company to survive within the market. Generally, innovation means a new idea or perspective about the service and the products which are launched throughout the global market, which has the ability to appeal and attract the customers from different segments of the market. Actually, these innovative ideas help the organization to reduce their production cost and also can able to get a large number of customers. For example, Apple Inc. is a mobile company which can able to made mobile phones with innovative ideas, innovative features, and innovative designs. For this reason, they can able to increase their number of customers almost double. They can also able to increase their stock level into t he stock market. By implementing peer innovation within their products the Apple Inc Company can able to mount up the level of global customers without reducing the cost of the mobile phones (Bonavina, 2012). Dell is a manufacturing company of laptops, personal computers, etc. They have manufactured an awesome product by implementing innovation within it. They named this product as built order processes; by the help of which several companies can able to reduce the cost of operation and also incurred the other costs to show the profit levels of a company within their annual financial reports. By introducing innovative products both of these two companies can able to change the traditional trend to make the products according to the choice of the customers (Lee, 2010). There are three points which help to determine the types of innovation 1) the idea must be unique and nobody can able to think like that before, 2) the size of success depends on the size of resource so the innovation must be a superior knowledge of technology in respective fields and 3) innovation can able to keep the superior companies away from the market periphery. Nowadays the companies incorporate various marketing strategies to transform themselves into big companies. For example, Nokia Company does not change themselves according to the new market trend whereas Samsung Company changes themselves according to the new market trend and can able to grab a large number of customers within the market (Dekker, 2013). The business which is depending on innovation always keeps their focus on implementation, integration, ideation and initiation of the idea. Therefore, the concepts of Innovation in the business model needs to be identified as to provide the desired elevation in the significant growth of the firms. References Bonavina, L. (2012).Innovation in esophageal surgery. Milan: Springer. Dekker, E. (2013).World of Warcraft gold strategy guide. Birmingham: Packt Pub. Driving the economy through innovation and entrepreneurship. (2013). New Delhi: Springer. Jordan, J. (2012).Information, Technology, and Innovation. Hoboken: Wiley. Lee, G. (2010).Business process management of Japanese and Korean companies. New Jersey: World Scientific. Liu, L. (2009).Emerging nanotechnology power. New Jersey: World Scientific. Rud, O. (2009).Business intelligence success factors. Hoboken, NJ: Joh Wiley Sons. Zenger, J., and Stinnett, K. (2010).The extraordinary coach. New York: McGraw-Hill.