¶ … business will face is strategic planning. This is because of shifts to the operating environment will have an impact on the profit margins. In the case of Research in Motion, the company has been experiencing a loss of market share to competitors (i.e. Google and Apple). At the same time, they have been trying to reach out to customers' through new mobile devices and applications. This has resulted in the company realizing a loss of its dominance inside the industry. To fully understand what is happening requires focusing on a number of areas to include: potential strategies for taking advantage of external opportunities and possible approaches for addressing future threats. Together, these different elements will show how these issues can be addressed over the long-term.
Identify the firm's existing objectives and strategies.
The current challenges impacting Research in Motion, is that competing firms have introduced alternative products. This is having an effect on the company's market share, with select devices (i.e. The Google Android) offering customers more applications for free (on an open source operating system). This and the popularity of the I Phone have been slowly eating away at the company's dominance inside the sector. Over the course of time, the firm has been losing customers (who have been choosing these devices). This is having a negative impact on their earnings. (Kao, 2010, pp. 1 -- 7)
To address these issues, a new strategy must be used that will give the firm a strategic advantage in these markets. One possible approach is to focus on the predictive key board....
Strategic planning is a systemic and elaborate plan of action expressing the future move or plans a company plans to take. It is a long-term plan that a company puts down in an attempt to shape or build the future. It gives an organization the direction and a goal. This plan can be laid down to cover the near future, but it can run longer depending on the organization's plans.
This component of planning functions on the basis of the drive to protect the company, as far as possible, from damage by means of external disaster or internal weakness. Contingency planning, then, allows a company to resume operations as soon as possible after a disaster or crisis. It ensures that the company has components in place that promotes its core health and resiliency. In contrast to the others, this
All of the above represents the first part of strategic planning. You must know where you are now before you can determine where you should be going. The next step is to analyze the alternatives. It is important to remember that the current list of alternatives is not the sum total of options available. The company should be as creative as possible in the alternative-generating process. The external analysis should
Strategic Planning The business that I want to start is a small barbeque and soul food restaurant. This business will have one location to begin with. The business will be defined by the quality of the food and the fun, comfortable atmosphere of the restaurant. This paper will first explain the benefits of strategic planning, and then outline some of the strategic plan for my new restaurant. Strategic planning is "an organizational
Strategic Planning Smith & White Analyzing the weaknesses of Smith & White is important for us to make the company more profitable. We should "overcome weaknesses to pursue opportunities" (Strategic Management). When we look at the weaknesses of Smith & White, it is seen that it faces high costs due to old manufacturing plants situated in the high labor urban areas. What Smith & White needs to do is to produce newer
In this context, Zook contends that the organization must consider efforts to improve the organization along its current core strategy. These efforts will often produce the desired results. This did not happen at GoAhead. Instead of adhering to the company's core strategy, leaders plotted a new course that further hindered the ability of the organization to remain competitive. Another pertinent issue that must be addressed in the context of this
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