Module 06 Course Project - Final Plan- USE ATTACHMENT TO COMPLETE ASSIGNMENT! ! !

Strategy selection

List of strategic objectives

· Environmental responsibility.

· Leveraging capability to develop and design.

· Expanding and enhancing.

· Supporting the society.

· Stability.

· Expansion.

List of strategy alternatives

· Adjacent business.

· Diversification

· Differentiation.

· Price focus

· Focusing on niche market.

Your strategic choice with appropriate justification

My strategic choice is differentiation and diversification. In instances where competition is rigid due to the proliferation of like products, apple can develop features that distinguish their services or products from those of competitors. The differentiating characteristics need to be important to the consumers so that they are prepared to pay premium for them and hard for competitors to copy. When bringing forth new features, managers require to make sure that the product is reasonably priced and that it harmonizes with the customers’ needs (Liabotis, 2007). The other strategic choice is Diversification. Diversification is a kind of expansion strategy where the company creates new products for new or existing markets. This strategy choice is especially efficient where the company cannot anymore achieve competitive advantage via product differentiation. Other than attaining competitive advantage, this strategy choice can assist a company to better utilize its resources, enhance sales and reduce the risk related with market turmoil that affect a certain product.

Your strategy analysis and choice become part of your overall strategic plan.

Strategic analysis is the utilization of a variety of tools to organize business strategies by assessing the challenges and opportunities faced by the company as it gears forward. My strategic analysis will become part of my overall strategic plan. This is because this analysis will help in gearing towards achieving the missions and vision of the company. My strategic choices of diversification and differentiation will also be included in my overall strategic plan as they give the company a competitive advantage.

References