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Strategy Book Reviews And Five Product Strategy Plans

1370 words - 6 pages

Strategy Book Reviews and Five Product Strategy Plans
The goal of this paper is to provide key insights and concepts from three strategy books and then begin the strategy planning process for five different products.
The three books shy away from advocating old school Porter’s concepts and instead recommend strategic innovation since modern market environments are dynamic.

Book 1: Thinkers 50 Strategy
Crainer and Dearlove (2014) discuss the evolution of strategy concepts from early military strategists (Sun Tzu) to more recent influential works such as Michael Porter’s ‘Five Forces’, Gary Hamel and C.K. Prahalad’s resource-based ‘Harmonic Strategy’, Richard D’Aveni’s new 7-S ...view middle of the document...

Finally, Tovstiga (2013) outlines various strategic options based on organizations’ configurations, determined by their maturity and dynamics of their competitive environment (chapter 7, para. 1).
Book 3: The Power of Strategy Innovation
Johnston and Bate (2013) cover the need for ‘Strategy Innovation’ and provide several examples of successful large corporations (Walmart, General Electric, IBM) that started small and later dominated their industry through innovation, they define strategy innovation as the shifting of a corporation’s business strategy in order to create new value for both the customer and the corporation (chapter 1, para. 5).
Johnston and Bate (2013) mainly detail a five phase strategy innovation process (‘Discovery Process’), consisting of staging, aligning, exploring, creating and mapping phases, to enable organizations to discover and create road maps to new business opportunities on their strategic frontiers (chapter 4, The Five Phases section).
Product #1: Corn
A corn farmer in the commodities market chiefly sells quality corn to large food grain and cattle feed wholesalers, the snacks industry and possibly the ethanol industry.
Corn is in an investment heavy, volume based business with seasonally varying prices, stiff competition and other risks such as drought and unfavorable export regulations.
Monsanto is a chief seed supplier since it specializes in developing genetically engineered crops that can withstand herbicides and ward off insects (Gillam, C., 2014, April 2).
Building a market strategy for this product would involve reviewing the following book chapters:
• Crainer and Dearlove’s (2014) book: Chapter 5
• Tovstiga’s (2013) book: Chapters 5, 6, 7, Appendix B.
• Johnston and Bate’s (2013) book: Chapter 5 to 10.

Product #2: Affordable Care Act Insurance Plans
The United States Secretary of Health and Human Services selling the Affordable Care Act Insurance Plans to citizens required by law to purchase them faces possible resentment from citizens with existing coverage due to possible increased premiums by insurance companies since they are mandated to cover pre-existing conditions and lifetime coverage limits are disallowed and preventive care is now free (AHIP, 2014).
So, the task here involves providing a massively scalable insurance marketplace, customer service and a vigilance cell to monitor the transactions, ensure accurate premium pricing and prevent fraud.
Building a market strategy here, would involve reviewing the following book chapters:
• Crainer and Dearlove’s (2014) book: Chapter 5
• Tovstiga’s (2013) book: Chapters 5, 6, 7, Appendix B.
• Johnston and Bate’s (2013) book: Chapter 5 to 10.

Product #3: Used Cars
A local car dealer selling used cars in Glenwood Springs, Colorado has to compete with a dozen existing used car sellers.
The strategy would involve ensuring optimal inventory turnover ratio to balance rents, salaries and service.
The value added service here would be to...

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