2nd: ASSINGMENT

MODULE LEADER: SUNETRA PRADHANAGA

BUS2002-NAM 09 (2017/18)
STRATEGIC MANAGEMET

REPORT BY: POOJA ARYAL (UON ID N.O = 16442646)

Seminars Questions

Q.1. Critically analyses three frameworks that can be used for the analysis of market based
strategies communicating on their strength and weaknesses and incorporating business
examples.

 Competition based strategy:

 In this strategy, the company compares their product to the similar products of other
companies as well as compare the prices (Anthony, 2018). The marketing strategic has to
do with marketing and advertising things like writing awesome and creative ads, creating
incredible websites and special reports that won’t make people board while reading it. It
has to do outside the box innovation figuring out ways to not only think but also act outside
the box and sell products and services in a way that causes people to salivate and stumble
over themselves. Marketing strategic has a lot to do with real-world innovation marketing
that works like gangbusters and advertising the gets people to take action (Read, 02). The
three marketing strategic frameworks that analysis the market is: Customer needs,
Company capabilities and Competition & market dynamics (Hopps, 30 ).

 Customer needs:

 For every company, it is important to understand the customers’ needs. Quite often
customers express their goals in terms of the solution they already have in their mind.
Ability to use your know-how and challenge the customers with good question is an
excellent way to help them define their real needs and ensure that you’re solving the right
problem. If the marketing and products are based upon customers’ wants and needs, the
sales and profit goals can be met (Joseph et al., 2018). Characteristics of a vendor or
solution that each person in the decision-making process uses to select the best one. What
you often find is that decision criteria very widely at different levels so it’s critical to
understand them (Lovallo, 2013). To ensure that you present relevant strengths last there
are personal goals. What people what from the project for themselves? This might be
motivated by a bonus for on-time project completion or having the change to get a desirable
assignment or a position in one of our bids for a sales transformation project. The project
leader should always have wanted to improve his/her reputation inside the company.
His/her recent work to introduce will be CRM software. It might not go well. The people
may not use the software. At that time, we create a lot of negative press for him/her by
demonstrating how our solution would dramatically improve CRM utilization and help
them to recover their reputation. They become the strongest supporter. To understanding
customer needs is really to understand people (Wightman, 2013 ). The sellers always
should be very informative towards customers. Customers are always willing to know
about the products they are willing to buy. A customer always prefers to get a helpful
environment. The markets who are selling products should know that a customer need a
patient. Thoughtful and caring seller. Nowadays they want professional so that they will
help them to get their needs. Meeting your customer needs in ways that have value and
meaning to them. Most of the customers are looking for something they need and are likely
expecting that they will have to prove their need is genuine.
 Company capabilities:
 It is something that we’re familiar with as business analysis. To describe what an
organization is able to do great capability. According to Campbell (1997), it is the core
ability of an organization to deliver unique value to customers. To know what are we able
to do is important nowadays. The capability describes to hire people we have a capability
to take order. If we have a capability to fulfill an order that is what we’re describing in our
capability analysis. We are not describing how we go about doing those things, how it is
that we are able to perform those capabilities those are the solutions. The processes are the
solution. Business capability also tend to be very stable so they don’t change very much
over times. The business has ability to hire a new employee that an ability that we’ve had.
It we hire employee number one or employee number two that capability is not likely going
away or going anywhere its very stable. It’s been with us for long time and will be for a
long into the future. It you think about most of the capabilities that we have they are also
falling into the category of being very stable and very long turn. Capability of a company
is a strategic planning activity where we will be looking at what are our capabilities and
asking ourselves a number of questions about them. Business value to do all this capability
provides what customer value do. It’s an ability to do something with the help of business
organization. Where something is equally applicable for individuals and as well as for
organizations. For example, like if someone say he/she have the capability to life 50 kg
then that means they can lift 50 kg weight likewise if an organization say they have ability
to develop mobile application then the capability means it is the organization where
individual ability to do certain things. So, we can say capability it is the ability of the
organization to do something. As Zook (2003) says, a company’s core capability can help
create sustainable competitive advantage for a company.

 Competition and market dynamic:

 As we all know trying to be the best among many peoples or things or organization is
known as competition. Usually in business organization they compete with the similar
products producing company. When a company evaluating a new startup or business idea
there are six dynamics they want to consider they are the customers, the product, timing,
competition, finance and team. As Ely (1901) defines, competition “in a large sense, means
a struggle of conflicting interest.”
We know that when the market equilibrium changes that is the market price changes. The
firm’s demand curve and marginal revenue curve is going to change as well so this will
affect the firm’s output and the firms profit. On the left side of the diagram mention above
got the market for soybeans and on the right, we’ve got the cost structure for on particular
farmer. This industry also takes the market price take it straight over and that becomes the
individual farmers demand and marginal revenue curve. Now there is also marginal
revenue and marginal cost we can find profit maximizing level of output or Q star. At Q
star, we go up until we hit ATC and over all in this case since the ATC is higher than P star
this particular firm is earning a loss now. Let’s suppose that its determined that SOI helps
promote health. Well we’d expect this would increase the market demand for soybeans
thereby changing the equilibrium price and quantity we’ll take over new equilibrium price
over to the individual. Farmer graph this gives us a new demand and new marginal revenue
curve now because we have a new higher marginal revenue curve. We have a new
intersection with marginal cost, we have a new Q star which we’re going to call q2. And
now at q2 we find the ATC and we take it over and we find in this case we’re actually
earning a profit and selling a higher output because Fran is in a competitive industry
earning profit we’d expect other farmers to plant soybeans in the long run. This would
increase the supply giving us a lower price and in this another case higher quantity. We
take that price over we have a new demand and marginal revenue curve giving us a new
optimal level of output and in this case.
Q.2. Critically discuss the assertion that the effective leadership of change is crucially
important to all organization in the current business environment.

 Leadership is the pillar of every business. It is very important to have an outstanding

leadership in any company. Leaderships represents how the business is controlling. There
are many modifications in the business faculty compared to the previous marketing system.
There are many changes that is not only beneficial to the company but also beneficial to
the environment. Leadership influences other and bring assorted people organized to do
decisive graft which brings several concerns. If the company has effective leadership, it
results in the position of the company. Leadership accomplishes common goals and also
helps people to connect with the potentials. Change in marketing has been challenging to
specific companies because it needs to be engaged effectively to achieve certain goals.
Having an effective leadership, the company reaches new heights. Having a successful
leadership at all ranks is additionally likely to persist in times of tasks and to develop
motion. Different individuals play dissimilar crucial leadership roles at the different levels
of the business. Behind every successful business, there are inspired leaders and managers
that inspires, motivates and empower individuals to do a little more. A team of business is
formed according to their works and activities.

 “Change is the only thing constant”, as Heraclitus, a pre-Socractic Greek philosopher, said.
Managing change in an organization is one of the most important task that a manager can
perform. It is a responsibility of the manager and a crucial one to ensure that organization
that go though changes such as changes in environment, stakeholders or even governance.
During such changes, a strong leadership is extremely important. Leadership is associated
with the organizational culture (Belias & Koustelios, 2014) and when the leadership is
weak change in organization often leaves the organization culture in shambles. A good
change leadership focus on the individuals during change as human beings can be sensitive
to change and focusing on the human aspect of change is an essential part of proper change
leadership.

 According to John P. Kotter (1996), he mentions eight steps of proper change management:

1. Increase urgency
2. Build a guiding team
3. Get the vision right
4. Communicate for buy-in
5. Empower action
6. Create short-term wins
7. Don’t let up
8. Make change stick

 Leaders are not born, they are created with tons of motivation, inspirations and capability
in forming a good team. The Trait theories of claims that the effective and success of the
leader depends upon individual dispositional traits. It also depends upon the personality
traits actually do not necessarily predict leader effectiveness. Leadership is a difficult
concept to define however, many authors have their distinct definitions. Silva’s (2016)
 definition defines leadership as “the process of interactive influence that occurs when, in a
given context, some people accept someone as their leader to achieve common goals”. The
most important feature of leaderships are the behavioral factors. The new leaders main
feature is focused in the behavioral factors. The factors hold the good relation within the
company which is the main reason that every huge companies focuses on and are being
successful at the same time. The theories claim the effectiveness of the leadership of a
leader is dependent on how they behave and one can learn and trained to be an effective
leader. IT is associated with the factors of being highly organized, able to set goals for the
team, being respectful and being persuasive, having integrity and having interest in others
and supporting them makes the team strong and builds a good relation among colleagues.
Taking responsibilities for their own as well as their team’s mistakes. People across
different cultural and backgrounds come together in the business environment, different
industries, different graphical locations. In other worlds, one particular leader behaviors
may be very effective in some organization. But this method is not always work. Because
leadership effectiveness can be contingent upon the situation the contingency theories of
leadership essentially that whether a leader is effective or not is contingent upon the
specific situation in which the leader functions. There are different models representing the
contingency theories of leadership, such as situational leadership. The path-goal theory of
leadership and various leadership styles but the most well-known and best empirically
supported contingency theory is the fiddler model. Fiddler says that effectiveness of
leadership is contingent upon three key elements unique to the situation; Leader- member
exchange quality. The task structure and leader positional power for the leader to be
effective in delivering team performance. Task structure are the work tasks complex or
standardized and having the power to hire, fire, promote, demote employees and increase
or decrease the consequences. The leader needs to be able to adjust and even alternate
between being tough or task orientated and being easygoing for relationship- oriented. The
structures are high and leader position power is strong then a task oriented directive
leadership style is expected to lead to superior work performance by the team. It also refers
to attaining dutiable outcomes such as productivity, quality and satisfaction in a given
situation.

 Leadership process element includes:

-Leader
-Group Members
-Context of the situation

The highest-level executives of an organization make the same assumption. A frequent

antidote to major organizational problems is to replace the leader in the hope that the newly
appointed leader will reverse performance problem, pinpoint several important leadership
roles and closely knit teams of highly trained individuals and professional norms. The
necessary factors for valid partnership and shared responsibilities is a part of the company
and is one of the important factors in building the company strong. We embraced lean and
we heard that it was all about people. We also learn that the lean as commonly practiced,
was all about profit improvement. Our living legacy of leadership is a hybrid approach that
combines our unique leadership principles with lean tools to create a more inspirational
model. This learning context will provide the optimal conditions in which we can reach
and teach all the children in our care and enabling them to become successful global, digital
citizens with strong critical and creative thinking skills and an appreciation for diversity.
Trust gives you the permission to gives you the permission to give people direction, get
everyone aligned and give them the energy to go get the job done. As you execute with
excellence and deliver on the commitments, trust becomes easier to inspire creating a
flywheel of the performance (Douglas Conant). Lastly, leadership is not mere using people
and their potential for realizing an organization goals It has the ultimate aim of raising the
level of human conduct and ethnical aspiration of both leader and the led.
Reference:

Anthony, L. (2018). Chron. Retrieved from What is market-based:

http://smallbusiness.chron.com/market-based-pricing-strategy-5121.html

Belias, D. & Koustelios, A. (2014). The impact of leadership and change management strategy on
organizational culture. European Scientific Journal.

Campbell A. Core Competency Based Strategy. London: International Thompson Business

Press, 1997.

Ely, R. T. (1901). Competition: its nature, its permanency, and its beneficence. Publications of
the American Economic Association, Vol.3(2), pp. 55-70.

Hopps, J. (2015). Demand Metric. Retrieved from Target Marketing Selection:

https://blog.demandmetric.com/2008/08/06/target-market-selection-segmentation-and-positioning

Joseph, K. O., Omotayo, A., Mosunmola, A. & Taiye, B. (2016). Marketing Concept and The
Satisfaction of Consumer Needs: The Nigerian Consumers’ Experience.

Kotter, John P. (1996). Developing a Vision and Strategy. Leading Change.

Lovallo, D. (2013). Harvard business Review. Retrieved from deciding hoe to decide: What you often
find is that decision criteria very widely at different levels so it’s critical to understand them

Silva, A. (2016). What is Leadership? Journal of Business Studies Quarterly. Vol. 8(1).

Read, L. (2015). Fast company. Retrieved from Slacks founder:

https://www.fastcompany.com/3041905/slacks-founder-on-how-they-became-a-1-billion-company-in-
two-years

Wightman, K. (2013). What small businesses need to know about CRM. Retrieved from Nutshell:
https://www.nutshell.com/blog/what-you-need-to-know-about-crm/

Zook C. (2007). Finding Your Next Core Business. Harvard Business Review, pp. 66-75.