Business Strategy in Action IntroductionEssay Preview: Business Strategy in Action IntroductionReport this essayTopic: Business strategy in action IntroductionIn the continuously evolving and changing scenario of global economy, the different corporate sectors all over the world are always in an endeavour to find the perfect business strategy or set of strategies which would be able to reap high financial benefits as well as appreciate their goodwill and market shares in the long run.
There is no question about adopting a right strategy; however, the real question arises about what is the right strategy. In the past, we have seen that whichever corporate strategy or policy has worked wonders for a certain company, more specifically – for a big business house, has been treated as the right policy worldwide.
But when that particular strategy or set of strategies failed to provide a positive impact on the performance level of another business firm, people and the management experts realized the hard way that a certain corporate strategy cannot be treated as the panacea for all sorts of problems for the corporate world as a whole irrespective of geographical location, socio – economic and political – legal factors of the nations in the world.
According to Professor Costas Markides[1], a good strategy is dependent on a given set of parameters which should be treated as the building blocks of a well – planned strategy. Markides parameters are:
(a) Who will be the targeted group of customers for the company? – According to Markides, a business firm should always go to the basics to find out its proper customer base. It cannot cater to each and every section of the customer base. In other words, the company should prioritize among the groups of the consumers at the beginning. Even in case of a company which is a manufacturer of an essential commodity like cellular phone (The prime example would be Nokia), the management should keep in mind of classifying its product ranges within the consumer base depending on the level of incomes and varied purchasing powers;
(b) What products or services it would be offering to its customers and also what not to offer – This business decision actually points toward the completely specialized offering of products or services to the consumers. To put it simply – it is always prudent to work within your limits first and not showing foolhardiness to tread in unknown waters; and
(c) How it will try to demarcate between the proper strategy to do so and what functions it will try to avoid – It refers to the most critical part of the decision – making. It is not always prudent to ape any particular business strategy which has been already adopted by some other firm. It may or may not yield results. However, the wisest decision would be attack its competitors in the same playing field by finding out their weaknesses and cash on those areas. In order to support his view on the demarcation and framing of proper strategy, Markides has pointed out the difference of strategies between Xerox and Canon.
Xerox, being a household name in photocopying, lost its Numero Uno position to Canon after 20 years of fierce rivalry in the market. Xerox, being the leader in photocopying business, concentrated on high – profile big corporate houses and emphasized on the fact that its machines are faster in doing the required jobs than any other machines in the market. However, Canon, on the other hand, being a newcomer in the field of photocopying business (diversified its business from making photographical instruments like camera and hardware like computer printer) concentrated on high quality and economical pricing. The end result was the thorough penetration of the entire market share by Canon within various segments of consumer base with varied income – levels and purchasing powers. This innovative move in the field of strategy – making helped
s a business growth of over 80-90% which was a great result. The company in many ways was already a huge player in photocopying industry and was growing in popularity.
Citation: Xu P, Liu G, Wu X, Wang J, Liu M, Zhang A, et al. The new Canon 7400 X-Type C1601 “Xerox 5.35” machine printer. PLoS ONE 3(8): e990133. https://doi.org/10.1371/journal.pone.00990133 Editor: Xiao Zhang, Jieyang Dai-Hao, and Xiao Wang, Hongtian Institute of Science and Technology, Hongfang University of Technology, Taiwan Received: August 18, 2011; Accepted: April 12, 2012; Published: June 4, 2012 Copyright: © 2012 Xu et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Funding: The authors report a loss of profit from the sale of their invention and the return of an additional 500,000 dollars to the company for the benefit of their health and well-being worldwide, to the extent necessary for continuing their research into the subject. This study was approved by the Chinese Scientific Committee. Competing interests: We are not affiliated with the Department of Pharmaceutical and Physical Engineering and received funding from the Chinese State Pharmaceutical Research Office or the Department of Biomedical Engineering Technology. We have no competing interests in this subject and declare no interests in respect of any of the patents or other confidential material which we claim to have. The authors declare that all the above as well as our written responses are solely in accordance with law. The research was conducted independently of any financial or other compensation arrangement. The data were gathered and analyzed using the software-based SPSS software interface, which is being developed at the National Security Institute at the Federal Institute of Technology in Berlin with its own license. Data are processed according to the Chinese National Statistical Association’s criteria for data processing, which has been published online (http://www.sa-data.gov/pis-en-eng/) on the international electronic media.
Introduction Canon has become the leading semiconductor manufacturer of consumer gadgets with over 6 years of experience in computer networking and data center products. Its computers have been used as central locations in many industries from information information products with cloud computing, in telecom services, e-mail delivery automation, medical products and more such products. Canon’s main line of devices are the 7400 X-Type C1601 of the company and Canon’s latest (2017) 3200 mAh machine, the 7500 X-Type X-series camera, and the 7300 Y-series scanner.
Many devices and products now used in manufacturing, including the telephones (Zu), TVs, telephones (Zh) and tablets, has been built by Canon for their manufacturing facilities and to satisfy their business needs. Canon’s system of manufacturing facilities is more powerful than any other business unit and its customers’ needs and desires will be influenced by many factors and different industries. For example, the company also manufactures portable computer hard disks and portable data centers to meet their corporate business needs. Because this is the case, large numbers of high-level computer makers