Role Of Strategy In Company’s Success Harvard Case Solution & Analysis

Strategic management plays an important role in the success of any organization. It has got importance in recent years. Now organizations are focusing on long-term planning,internal and external environment would remain constant for alonger period of time and that’s why companies are making plans for along duration.
However, in this technological era, entrepreneurs and managers are prepared because they know that environment can change anytime and that’s why they are making the contingency planning too along with following a strategy.
Strategic management is the continuous process of developing profitable strategies for an organization.The formulation of sound strategy is critical to the well-being of any organization.
The formulation of any sound strategy is considered as both a leadership skill and as a process of getting a competitive advantage.
In today’s competitive world, a sound strategy has become critical to survive in the market and become successful. (Analoui, 2003)

Corporate strategy
Corporate strategy is concerned with the overall scope and purpose of the organization. It involves the long-term mission and vision that any firm set to achieve. Through corporate strategy, theorganization seeks to create corporate values, motivate the employees and execute the proper actions to satisfy the consumer needs and wants.
Moreover, corporate strategy is an on-going process that requires the constant effort to increase the shareholder’s wealth.
Though corporate strategy can pertain to different areas of the firm yet most of the companies use strategies such as product differentiation and cost leadership. (Gerry Johnson, 2008)
Cost leadership is an example of thecorporate strategy, in this strategy, organizations provide their services and products as low as customers are willing to pay.
The example of cost-leadership is Walmart in the retail industry.
Other examples of corporate strategies are vertical integration, horizontal integration and global strategy.

Role of strategy incorporates
An organization is mainly established while having a goal in mind, that goal can be increasing shareholder’s wealth or satisfying consumer needs profitability.That goal describes the purpose of existence for the company. All the work carried out by organization revolves around that purpose or goal and companies make sure to align the external environment and internal resources to achieve that particular in expected time.
Any sound strategy on a corporate level prepares the company for future opportunities, market trends and risks.It makes a way for the company to analyze and execute administration in away that is likely to achieve the set goals and objective of the company. (ZEYNEP DERYA DÜŞÜN, 2016)
Any sound strategy is the subject of systematic research and study for an extensive period of time. Apart from effective decision making, directing work and pursuing opportunities, strategic management also assist in cutting cost, employee motivation, converting threads into opportunities, predicting market trends and increasing overall performance of the company.(Bhattacharyya, 2016)

Framework for planning
The balanced scorecard is one of the frameworks for the strategic planning, it includes the nine steps, starts with the assessment and ends at evaluation. As strategic planning is anon-going process, after the evaluations it starts again from assessment........

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