Task. 1 Existing international strategic alliance for analysis purposes – LG Electronics.
Task: 2 Motivation for the formation of the international strategic alliance selected.
Task 3. Critical discussion of the forms of management that can be used to manage the alliance.
Task 4. Propose 4 recommendations to senior management of your new company about how the potential strategic partnership could be enhanced.
References
In the strategy, we understood three core competencies – product leadership, pupil leadership & market leadership. For e.g. L.G. Electronics create a value for customer.L.G product are that product in the market who will make a value in the market. First we focused on the firm for analyzing the firm infrastructure & manufacturer of mobile phone. L.G. is the product in the market that have the firm competencies & to expand its share of the global mobile markets & increase the organization profitability. Today, world has lots of competition in the market. First analyze the market & then make a product according to the customer needs & wants. There are lots of competitive products in the market .In the core competencies of product innovation (product leadership in the market). Product is that type in the organization which is effective for the whole market. Strategy characteristics are divided into four parts. These parts are explain below:(Mongay, 2012)
(1) COMPETENCIES MUST BE VALUABLE: Value competencies help the firm value for the customer in the market. Exploit market opportunities or neutralise threats for competitors. For example : organization with a product innovation in the market or make a new product exploit the business in the market according to the customer needs & wants or In another term we can say exploit the business according to the external environment. For e.g. APPLE iTunes digital music stores provide a lot of space for store the music in this device. They are reasonable in price with easy access for customers, satisfied their need of listening the music. They are convenient & easy to access this product. Sleek design of L.G. mobile phone attract the customer .There are lots of function, video facility, music facility, capability to sit in the market & phase the lot of competitors & then make a values in the market & lot of current offers in the market.(Demers, 2013)
(2) COMPETENCIES MUST BE RARE: Rare means few. First of fall we will know complete the task or the task with the same quality product. Firm holds the core competencies that are valuable but not rare. Look for e.g. L.G & many other substitute products in the market. Both the firm are core competence in the global world. But the competencies of both the product are valuable in the market. These products are not rare but the product value in the market. But we will explain the example of rare product in the market. These products are LG .The rare thing is that in the product are the design of the product the sleek design of LG product or the flat model of LCD screen Television. These are the rare things in the product.(PULIZZI, 2013)
(3) COMPETENCIES MUST BE DIFFICULT TO IMITATE: Competitors want to imitate another firm value & rare core competencies. However doing so may be difficult. For e.g. L.G. product leadership is that the product design or function of the function. But there are lot of competitors in the market.
(4)COMPETENCIES MUST BE DIFFICULT TO NONSUBSTITUTABLE: These characteristic are those characteristic that have no substitute for that product in the market.Nonsubstitude products are design of L.G products that have no substitute in the market. The designs of the mobile, Function of that mobile are totally different. There are no substitutes in the whole world.(ROBERTS, 2014)
Successful business alliances are the critical strategic components in many industries. But many strategies are failing sometime according to the partner, narrowly focused on industry, poor alliance management for implementing the product & making new one. Sometime organization will be illed from the whole process of strategies. Business partner take wrong decision for apply the strategy in the firm. When firm is opened some points are noted that: These point are as follow: strategic management based industry & partner selection process, a new dynamic partner selection tool are used in the specific firm or target firm which is applicable to multiple appliance & industry contexts, rich global travel industry application that illustrate the proper partner selection process & analytical tool that are properly used in the organization.
Strategic alliance formation has increase dramatically over the past decades. Strategic alliances shifted the competitive paradigm in many domestic & international markets from firm to firm competition to more alliance based & market to market competition in the whole world. Different types of strategies are used in the organization. These strategies are how firm can change the rule with creative & imaginative thinking. Moreover, strategic innovation are online travel, digital communication & entertainment , including mobile phone , such as many other different type of substitutes or in another termed we can say alternative of the product or many other different strategies are also follow in the organization. The organization can fulfil the customer value through new combination of performance attribute. Organization seeking to identify, develop & maintain the competitive advantage increasingly day by day. Different type of strategies is follow in the organization. These strategies are effective & flexible in the organization. These strategies are fulfilling the need of customer according to their needs & wants.
However, increasing the growing number & increases strategic alliances many fail which are performing greater proportion perform poorly. Although such failure may be for many interrelated reasons: These reasons are two common causes are poor partner selection & poor alliance management. Some cases superior alliance management skills may not be overcome poor alliance management or in another term we can say poor alliance strategic process. Different types of strategic process are used in the organization but some strategic alliances are poor & fail in the organization & some are excess the business or excess the firm in the market. In this case selection of new dynamic partner in the organization & many other new different type of tools & technique are used to extend the business or firm .Many other different type of technique are used these technique are statistical method, diagrammatical method, case study method, evaluating method, probability method or many other different types of technique are also used in the business or organization. Much different type of conceptual methods is used to extend the business or firm. Social network, new culture, environment are adopt in the business or implementing many different type of methods, tool, technique for enhance the business or firm. Some practical experiences are used to understand the market & focus on market strategy. According to the person wants & other different types of tools & techniques for seeking the different methods are used in the firm to extend the business & growth of industry. Implementation & changes of product or strategy in the market according to the wants of customer or external environment or many other market strategies are used to implement the business in the organization.
Strategic alliance may be one of the most overused works in the business today. Different types of strategy are used in the business. The five criteria of strategic alliances are as follow:
What is that making alliances truly strategic to a particular company? It is possible for an alliance to be strategic one of the parries in relationship. Many alliances are in the form of revenue generation which is important for business or in another term we can say firm. But revenue alone may not be making proper strategic for the business or firm in the organization or without revenue the organization cannot perform any goal in the organization. There are five general criteria that are used for strategic alliances. These criteria are as below:
These five are the critical points in the strategic alliances which will be explained below.
CRITICAL TO A BUSINESS OBJECTIVE OR GOAL: First step is to know what the goal in the organization is. What is the common type of alliance are generate revenue in the market strategy. How they connect in the market? Revenue is the most important alliances in the market. Without revenue organization can do nothing. The most important alliance is revenue. Not every alliance that produces but revenue is strategic. For e.g. impact on revenue if there is an impact in relationship. True relationship strategic is the most important impact in growing the revenue in the, market. In addition to a single strategic alliance related grouping of alliances in the organization. Networking is the most important strategy for grouping the alliances in the organization or firm. Many different type of strategy are used in achieving the goal or objectives in the organization or firm.
COMPETITIVE ADVANTAGE: Another way in which an alliance can prove to be strategic is to play a key role in protecting firm competition advantage or in another term we can say core competency. Learning alliances are the most important factor of core competencies. An organization builds incremental skill in an area with the help of experienced partner in an organization or firm. Learning objective is the most important strategy in the organization. Learning is that relation between the firm partners.
FUTURE STRATEGIC OPINIONS: Future strategic opinions are the most important point in the organization. For e.g. suppose some goals are achieve in the organization. These goals are criticize in the future strategies.
RISK MITIGATION: Risk is the most important factor in the organization. Without risk we can’t do any business. Risk is the most important factor of organization.
Strategy is the most important part for doing the thing in the business. Without strategy we can’t do anything in the business or firm. The most important part is that to achieve the goal for revenue the business or make the business profitable in the organization. Many organizations fail the goal target for revenue & business profitable. Based on research & development these two factors are seeing in the organization .These factors are inadequate business opportunities in the organization. Organization infrastructure cannot support for the successful execution of doing thing in the business. However manager can do certain things for improving the business in the organization or firm.
However manager can do different thing to improve the chances for success. The manger can do systematic framework for including three different strategies which are as follow: The manager can do this thing to improve the profitability of business or in another term we can say organization or firm. Many other external things are adopt in the organization for achieving the purpose of doing things in the organization. These three strategies are as explain as below:
1. Strengthen the execution infrastructure by investing in ‘safe bets’: Growth strategy is selected .The firm infrastructure are standard. These standards are those standards which make a infrastructure growth with using many other different type of strategy. Different strategies are used to make an infrastructure powerful & it helpful to growth in the organization. This is the most important point in the organization.
2. Initiate a process to identify strategies with a high probability for success: There are many things which are used in the organization to fulfil the needs of customer & wants. To grow the core business, the customer, adjacent opportunities are important in the workplace. Senior leader plays a vital role in the growth of the organization. These growths are fulfilling while seeing the market strategy, external environment or many other things are also seeing in the market as well as organization. The capabilities of employees who are doing work in the organization play a vital role. Many innovative idea or thoughts are also used to increase the business or product increments are also shown in that business. Benchmarks of the product or revenue or profitability are also important to growth in the market or achieving the goal in the organization.
What is the direction for increasing the business?
What is the firm key competitive?
What is the strength?
Growth opportunities are also shown.
3. Organization Capabilities: Organization capabilities are the, most important point in the organization. Successfully enter in the new market, Understanding the requirement of customer, Provide an outstanding level of customer service, Performance management is also the most important part of organizational capabilities.
4. Leadership: Leadership is the most important part of business strategy. Leaders are those pupils in the organization who influence the attitude & actions of colleagues who are doing work in the organization. Why the organization has performed high level of work, seeing the colleagues’ behaviour or attitude, Ultimate success of the organization is the key point in the organization.
References
Brown, M., 2013.
Demers, J., 2013. The Top 7 Online Marketing Trends That Will Dominate 2014. The Top 7 Online Marketing Trends That Will Dominate 2014.
Godley, E.B., 2013. Why Wall Street Loves “The Art of War” – A 13 Point Plan To Mastering Business Strategy.
Mongay, J., 2012. Strategic Marketing. A literature review. Autonomous University of Barcelona, SBS Swiss Business School.
Musk, E., 2014. All Our Patent Are Belong To You.
PULIZZI, J., 2013. 2014 B2B Content Marketing Research: Strategy is Key to Effectiveness.
Rosenbloom, B., 2011. Marketing Channels.
Siu, E., 2012.
Stanat, M., 2010. Packaging: The Last 10 Seconds of Marketing. Package design has a crucial role in the last moments of a consumer’s decision to make a purchase. This article points out several features of good packaging that influence purchase decision.
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