Question

Strategy Selection
Companies with well-established brands may find it commonplace to define their strategies. However, this view may change when companies decide to diversify offerings or expand into new markets. Careful evaluation and analysis of new market data, competitor information, target customers, and related factor data may assist companies when making these strategic decisions.

How would you develop a strategy for a company that is established in a field and plans to venture into another? What are the key criteria for developing the strategy and why?

Ethics and Social Responsibility Breaches
Although companies attempt to conform to their ethical principles, they may have to breach them under extenuating circumstances. To ensure that a code of ethical conduct is followed and a socially responsible behavior is continually exhibited, it is imperative that companies understand the causes of the breach. Reflect on events having occurred during the last 12–18 months and provide several examples of corporate breaches of ethics and social responsibility.

Explain the examples in detail and describe what you assess as the root cause(s). What would you recommend to prevent similar instances of breach from happening in the future?

Answer 1

1) Stratergy Selection:

The key criteria in developing a stratergy is to understand the pros and cons of our own company. Stratergies vary from product to product , place to place. The main objectives of any stratergy is to obtain the market to became a leading brand, revenue, new markets.

Stratergy should be prepared like this

1) Existing competition and leading competitor in the firm

2) Promotion of our product by breanding and advertising

3) Consumers intrest and demand for goods

4) Suppliers in the market

5) Technologies that are to be used as a medium for our promotion

6) Pre Business analysis and cost pricings

7) Any barriers that are needed to be overcome

8) Pre Investment analysis

These are all different considerations that we should take care befor ent5ering market

2) Ethics and Social Responsibility Breaches:

There are many instances that the companies tried to breach laws. The most common thing all companies try to do is either try to increase their revenue by making less quality products or by trying to evade taxes to the government. People after some point of time after seeing profits they wanted to earn more and more which is always the root cause of the problem of these breaches. They try to submitt false documents and try to reduce the quality so that they can earn more and also evade taxes by using different means.

Government should make certain rules and keep some limitations of firms so that they have check points which will always help the economy and people.

Example: There are many instances where firms who own business in US try to evade taxes by registering that there firm is of different country registration so that they dont need to pay high taxes.