Strategy Management Of Change (Case Study)

3856 words - 15 pages

1.0 Executive SummaryThe goals of achieving competitiveness and earning above-average returns are challenging, not only for regional firms such as Moss Adams, but also for those as small as a local computer retail outlet or dry cleaner.The challenges are substantial in the dynamic competitive landscape. Evidence the rapid changes experience by Cisco Systems. A "strong and well-thought-out-strategy" was regarded as the most important factor to make a firm the most respected in the future. Maximizing customer satisfaction and loyalty, business leadership and quality products and services, and concern for consistent profits followed this factor. These rankings are consistent with the view that no matter how good a product or services is, the firm must select the "right" strategy and then implement it effectively. In 2003 survey of the top 100 growth companies Business Week noted that the firms thrive in a tough economy because of their risk taking (e.g. innovation) and use of smart strategies.Suggesting strategic management's challenged. Andrew Grove, Intel's former CEO, observed that only paranoid companies survive and succeed. Firms must continuously evaluate their environments and decide on the appropriate strategy. Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. By choosing a strategy, a firm decides to pursue one course of action over others. The firm's executives are thus setting priorities for the firm's competitive actions. Strategies are organic in that they must be adapted over time as the external environment and the firm's resource port folio change. (Strategic Management, 6th edition, page 7-9)The fundamental nature of competition in many of the world's industries is changing. The pace of this change is relentless and is increasing. Even determining the boundaries of an industry has become challenging. Consider, for example, how advances in interactive computer networks and telecommunications have blurred the definition of the television industry. The near future may find companies such as ABC, CBS, NBC, and HBO competing not only among themselves, but also with AT & T, Microsoft, Sony, and others.Other characteristics of competitive landscape are noteworthy as well. Conventional sources of competitive advantage, such as economies of scale and huge advertising budgets, are not as effective as they once were. Moreover, the traditional managerial mind-set is unlikely to lead a firm to strategic competitiveness. Managers must adopt a new mind-set that values flexibility, speed, innovation, integration, and the challenges that evolve form constantly changing conditions. The conditions of the competitive landscape result in a perilous business world, one where the investments required to compete on a global scale are enormous and the consequences of failure are severe. Developing and implementing strategy remains an important element in Moss...

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