Essay Paper on International Strategic Management
In this essay, I will first introduce two well known, but not new strategy models: Porter’s Generic Strategy and Cooperative Strategy. Then, we will talk about the importance of strategy innovation, using the case of Tyson Foods and DirecTV. I will discuss the question if new strategy models destroy the old ones, using the case of Southwest Airlines. At last we conclude that no matter new or old, but the strategies we pursue must sustain the competitive advantages of the company.
What business evolution is? According to the book Leading the Revolution written by Gary Hamel and Peter Skarzynski, new business models destroy old ones, which is why creating new wealth is a threat to every traditional, unimaginative business. Companies that are not constantly pursuing innovation will soon be overwhelmed by it.
They argued that today, a company must be capable of reinventing strategy not once a decade or in the midst of a crisis, but continuously, year after year. The companies like Cisco, Home Depot, Pfizer, Charles Schwab, Intel, etc. have been creating new industries, new products, new services, all atop new business models. These revolutionaries are in the business of creating new wealth.
In some respects, this is true. Once the category killer, like Toys R us and Office Depot were so successful, the customers were attracted by deep discount and huge selection. What happened now, as predicted the category killer will be a diminishing force.
But is this meant the old strategy models are no use now, or only the business models? In the following essay, we will evaluate this statement with examples.
What approaches to strategy could be found in international strategic management?
Strategy is about the basic value you’re trying to deliver to customers, and about which customers you’re trying to serve. It also explains how you will differ from rivals: by performing different activities, or similar activities in different ways.
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