WK 1 & WK 5 DISCUSSIONS
WK 1 INITIAL POST (H. DIMARCO)
A. What is wrong about this strategy? The strategy is missing where Paul's Discount Tires competes. In the strategy it's unclear if the company is currently a regional, national, etc. company and where it plans to compete over the next several years. While the strategy does include what unique feature will help them retain the majority market share, having the lowest prices and exceptional service, it doesn't detail whether this is a feature the company currently has or if there need to be changes in order to be able to provide their customers with the lowest prices and best service.
B. What is right about this strategy? The strategy discusses the resources and capabilities it will use in order to retain the majority market share. It mentions its 21 year history, company history, core values and talented people. Using these resources and capabilities will be a large part of their strategy.
C. We are the market leader in discount tires and repairs our city, indicating that we currently have a competitive advantage. Will we sustain it with this strategy? While being the market leader indicates Paul's has the competitive advantage, it is important to conduct a SWOT analysis to understand the strengths and weaknesses of the company in order to see why we have this advantage and how to maintain it in the future.
D. What is one thing we could do to improve on this strategy? Paul's strategy needs to outline what the company does well in order to maintain the majority market share but also what it doesn't do. If cutting costs in the times of COVID in order to provide customers with the lowest prices has provided them with success, then they should commit to providing customers with quality craftsmanship, low costs and great customer service. In turn, Paul's should not try and compete with high end tire and repair services, as they've highlighted this isn't where they have found success.
https://www.youtube.com/watch?v=TD7WSLeQtVw
The Mind Tools Content Team By the Mind Tools Content Team, Team, T., Wrote, B., & Wrote, T. (n.d.). What is strategy?: The three levels of strategy. Retrieved March 21, 2021, from https://www.mindtools.com/pages/article/what-is-strategy.htm