According to Pearce and Robinson (1997), “strategy is the overall plan for deploying resources to establish a favorable position it comes from the Greek word “Strategos” meaning to lead (agein) an army(stratos) into war. It is a course of action, including the specification of resources required, to achieve a specific objective.” ‘A strategy means making clear-cut choices about how to compete.’ – Jack Welch (Former CEO, General Electric). Volberda et al (2011), writes a strategy is an integrated and coordinated set of commitments and actions designed to develop and exploit core competencies and gain a competitive advantage. Quinn (1998) puts it best when he says a strategy is a plan that integrates an organization’s major goals, policies, …show more content…
The innovation of products and services is one way to differentiate with the competition. Most of the services and products offered by most mobile service providers are almost the same and the current regulation of ceiling enforced by the government on interconnection fee discourages firms from lowering further their call charges. This has led to company’s searching for other ways of differentiating themselves so as to retain and attract customers. Safaricom is known for using differentiation strategy in order to gain competitive advantage. Safaricom has come up with a range of unique and innovativeproducts and services such as M-pesa, Okoa Jahazi, Simu ya jamii, cloud, video conferencing, Telepresence, Loyalty programs, voice services, data messaging, M-shwari, 4G connections, sambaza and bonga points among others M-PESA- In 2008 Safaricom revolutionized the way Kenyans and the rest of Africa would transfer money. M-PESA is a money platform in which people can send and receive money through the use of their mobile phones. M-PESA has enabled Kenyans to do business, withdraw, deposit and save …show more content…
1.7 KENYA REINSURANCE According to the Kenya reinsurance website, Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and commenced business in January 1971. Kenya Reinsurance’s core activity is providing reinsurance services for most classes of business. Since its inception, Kenya Re has progressively and consistently continued to provide reinsurance services to more than 265 companies spread out in over 62 countries in Africa, Middle East and Asia. Kenya Re is committed to offering world-class reinsurance service. Kenya reinsurance has formulated specific objectives that contribute to the success of the organizations. These objectives include; • Be Africa’s best source of reinsurance security and service provider, increase gross premiums from new and existing markets, • Improve returns on assets, provide international customer service standards, • Promote professionalism and ethics in the insurance industry. KENYA REINSURANCE MISSION AND VISION CORPORATE VISION Be the reinsurer of choice in their chosen
used in households for similar reasons. Programs like abcmouse.com and thelearningodyssey.com are introduced to children at young ages; furthermore, parents can enroll their children in these programs before they even enter preschool. These curriculums are set up by teachers and parents alike and keep them involved in their child’s activities. Parents have the ability to access sites such as abcmouse.com and set specific lesson plans for their children. This is a feature which can, and should, be extremely utilized as a child is developing new skills.
Apart from that I will go through the websites of the ASIC, APRA, ICA, product updates and other intranet resources of the company. Janet can take her complaint or dispute to the dispute resolution department of the AKC Insurance and AKC will aim to resolve her complaint or dispute as quickly
Essentially a strategic plan is an extensive inspection at where the organization is, where it wants to be, and how it can get there. The
This is because they look to interact directly with the final customers. The book states that a firm should vertically integrate business activities where they possess valuable, rare, and costly-to-imitate resources and capabilities. With competition consistently playing a factor, Verizon had to find a way to gain a competitive advantage. In this case, network reliability, products and services, customer service, and familiarity are the different paths Verizon has chosen to differentiate products and secure a competitive advantage. The forward integration strategy stands to benefit the larger cellular providers more.
Strategy is primarily people for setting and implementing strategy and monitoring performance. The primary role is to fit with all other forces. Structure basic design on how our people are organized to do our job. This let us know how centralized are you.
How Sustainable is Apple’s Competitive position Introduction Apple started out simply as a computer company producing Macintosh computers and software, but has since evolved over the years to manufacture other products. It introduced iPods in 2001 for music players, in 2007, it started producing iPhones. Its products are consumer oriented and this has contributed to the success of the company. Apple also views innovation as basis of survival and business development (Yoffie, 2012).
Corporate Strategy defines the path of a company to achieve long-term goals and objectives. It plays a crucial role in determining the competitive position of an organization. The corporate strategy incorporates all core factors to ensure the success of an organization. Depending on the nature and objectives of the organization, the components of a corporate strategy varies. It is only the corporate strategy that integrates and links the vision, goals, business model and help in appropriate allocation of resources and finally in decision making process.
Bark & Co. is a company founded by Matt Meeker, Henrik Werdelin and Carly Strife. The company owns several products – the initial and probably best known is ‘BarkBox’. Due to BarkBox’s success, the company Bark & Co. was created, which dedicates to build products that promote health and happiness of dogs everywhere (BarkShop, 2014). It was launched in December 2011 and had reached $25M in revenue by June 2013 with 100,000 subscribers (Fueled, 2013). Like illustrated in Figure 2, Bark & Co. has different businesses: ‘BarkPost’ is a dog content website that has the capability of receiving over 400,000 visitors monthly, ‘BarkCare’ is a dog health mobile application that can be reached 24 hours 7 days a week for vet consultation service (D’Onfro,
An important part of the differentiation strategy is being a leader in technology. Using technology effectively allows a company to gain a competitive advantage over its competitors. As analytics and data management increases companies need to implement effective systems and strategies. Another key element of differentiation is a customer’s loyalty. State Streets long history has allowed them to build up good relationships with
has millions of buyers and the company continues to woe more consumers to buy its products. The threat to buyers is not a big concern to Apple Inc. The competition on this area falls on the pricing system and differentiation of products to meet the unique needs of the consumers. The move to differentiate the products of the company aimed at addressing the diverse needs of the consumers (Bergvall-Kareborn and Howcroft 2013, p.280).
ACHIEVING GLOBAL COMPETITIVE ADVANTAGE OF APPLE INC. Apple Inc. is an American conglomerate company located in one immeasurable loop, Cupertino, California in the middle of the Silicon Valley. (OPPapers, 2012). Apple is motivated on their designing, developing, innovating new products like the personal computers, other related software products, and the electronic products such as MP3 players and iPods. Apple Inc.’s main products are iMac, iPod, iPhone, iPads and its latest advanced product is iWatch, which is on the edge of creating another revolution after iPhone. Apple Inc. has transformed its image from an inventive computer manufacturer to a fully-fledged consumer 's electronic company.
When Ceylinco Insurance joined the insurance industry, there were already several established companies operating in the country. As a new comer, how did you begin to establish your presence? Since the inception of this company in the 30s, Ceylon Insurance Company was known as Ceylinco. The insurance was in the blood of the people, though we were not even born. So when we started in 1987, our premium was only Rs 40 Mn for the whole year.
The virtue theory, which pursues virtuous principles, strategies and actions, can lead companies to understand their values, including mission, purpose, profit potential and other objectives. Virtuous employees tend to perform their roles consistently and competently in the direction of the company's goals. Virtues are the kind of thing you allow someone to take action to appreciate. Business people increase their likelihood of reaching their values and goals when they reach Objectivist virtues. Virtues emphasize the importance of each employee's valuable contribution.
In Kenya population growth has continued, where as GDP rates are falling. Industry and services are collapsing, and illiteracy, disease and malnutrition are still high. Life expectancy has fallen from 59 years at independence to just 46 in 2001. Gender inequity is also a problem in Kenya, and even when laws have been changed in favor of women, the practice still lags far behind. The reasons for this decline and inequality are complex and reach far beyond Kenya itself.
It is the planning before the action. In includes many activities like making decisions, making strategy for organization etc. At this time strategic planning is an important part of strategic management. Strategy describes how the goal achieves by using the available resources or what kind of resources they need to achieve the goals. This strategy is used when the organization wants to set the goals and wants to make the planning to achieve these goals by available resources.