Question

1.) What are some options for a company if their strategy is not working?

Your answers will be short essays and should be three full paragraphs or longer

Answer 1

In case existing strategy is not working; there are several options that can be implemented by the company, such options are as stated below:

In case, company finds that under current strategy, they are facing more challenges and obstacles, let me share one example like company A has designing facilities and manufacturing facilities, however, company A has no retailing facilities, in such situation, they need to depend on other company, further, their design works and manufacturing works can be affected due to having different retail arrangement and infrastructure as set in the market. Under Current strategy, company will face more challenge and they need to depend much on retailing processes that owned by another company, in such situation, company can process vertical acquisition to mitigate such problem. Again, if company finds that current strategy will not work as they have limited production facilities, in such situation, they can do horizontal acquisition and integrate another production facility in the same industry. With this option, organization can support their strategic initiative in case, current strategy doesn’t work.

In case, organization finds that current strategy is not working as with current strategy, organization needs to handle many functions at the same time, so entire business and its profitability will be impacted due to burden pressure on the company, in such situation, organization will define core objective and they will keep strong emphasis on the core objective, they will automate other processes, so customer, employees could go with self help section. As we need to understand, every business has limited resource and they need to manage many things in just limited period of time. Hence, current strategy will not work here, they need to keep alternative strategies and put diversification and concentrate on core objectives, rest objectives that can be automated.

There are companies like oyo rooms who faced performance related issues in the market and management team has kept a hope for turnaround and they understand that they can receive financial recovery in the near terms. Here, we can find that existing strategy of expansion didn’t work successfully and they had to roll back their business and such happened with losing so many hotels in the Indian market and proceeded with several numbers of employment layoff. However, company trust that they can come with recovery by improving their performance level and they will keep more focus on core business issues and resolve the same to manage such recovery.