Different approaches to strategy development might be appropriate in Essay - 1

Different approaches to strategy development might be appropriate in different organisations - Essay Example This paper will discuss how different approaches to strategy development might be appropriate in different organizations. Wherever business executives sit to deliberate on their corporate strategy, they always begin by critically examining the industry or the existing environmental conditions from which they operate in. they then follow this by examining both the strong and weak points of their competitors. With the industry and competitive aspects in scope, they then set out to establish a unique strategic position that can give them an opportunity to outperform their competitors. In order to attain such a competitive advantage, an organization has to come up with development strategies that differentiate it from other organizations that are dealing in the same products and it does this mostly by lowering their prices. This also calls for the organization to place its value chain strategically and to come up with manufacturing, marketing, and human resources development strategies in the process. This then gives the organization room to set up its budgetary allocations for its operations (Sterman, 200 0). Using the above analogy, one thing that comes out clearly is that the options that any organization has are defined by the environment under which it operates and this means that strategy is impacted by structure. It is therefore logical to conclude that an organization that sells its goods online would have a varied development strategy from another organization that has physical shops for its goods and services. This â€Å"structuralist† approach has been the subject of discussion for over three decades now and more organizations are adopting it in the new model of industrial organizational economics. According to this new paradigm, the performance of an organization is greatly dependent on how it conducts itself and this conduct is in turn greatly impacted by the existing