Kone – Monospace Launch In Germany
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What factors should he consider in choosing the” best” strategic option?
Garys strategy should best match his firms resources and capabilities to the opportunities in external environment. Defining the firm in the terms of what it is capable of doing may offer a more durable basis for strategy than a definition based upon the needs that the business seeks to satisfy.
Gary has to look at the fact that his firm was started with an aim of providing quality service and health to customers. Now, he is looking at the market from the resource point of view. But, a resource which caters to a changed market is different. Therefore, First-fitness strategy will be based on developing and exploiting internal capabilities to adjust and exploit external change (figure 8).
Establishing competitive advantages involves formulating and implementing a strategy that exploits the uniqueness of a firms portfolio of resources and capabilities. He can learn from Competitors success, but attempts to replicate their strategies mindlessly.
Gary has to look at his firms resources (figure 7) and assess the decision criteria using the decision group dynamics (figure 8). He has to consider the risk Ð-reward trade-off in,
Financial criterion
Are the paybacks in the near future
Are the profits reasonable
Is the profitability and cash flows appropriate
What are my ÐReal Options
Emotional
Am I satisfied with the option
Is it consistent with