Question

In 500 words or less, summarize what you have learned about what a distinctive corporate strategy is and why it is important.

Answer 1

The way of doing business is changing everyday and as a result the functioning and operations of the organizations are also changing and today organization in order to sustain in the field of industry are trying various ways and methods to do better. The level of competition based on quality and quantity is huge today and there is no way organizations can give away an opportunity to its competitors because one strategy lost may cost huge to the organization. Organizations analyze their strength and weakness and formulate a corporate strategy that is unique and distinctive that will give them a competitive advantage over its competitors and that is the only way organizations can succeed and sustain in the industry today. If we look at the successful organizations in a particular industry we will observe that there is none core capability of the organization because of which it is successful in the industry and this quality is their unique strength with the help of which they can take up their opportunity and penetrate in the market.

As conveyed, a unique corporate strategy is a plan that makes that organization different and stand out in the crowd because without this it is actually difficult for the organization to make it big. There are various kinds of unique strategies and there are organizations who adopt that based on their capability to perform and execute. Organizations need to assess the condition and the status of the organization in the industry and based on that the organizations need to function, there are various aspects of a business which actually makes the business better in any organization and as already discussed is that the distinctive or unique strategy will help the organizations make it better. Some organizations rely on the quality aspect whereas there are others who believe that number or quantity is the most important aspect and in this way organizations flourish.

We see so many organizations in one field of industry, for example if we take up the example of the smart phone industry we will see that the competition is huge but there are still few organizations who are recognized as big players in the industry and that is because they have a distinctive strategy that has made them different from the crowd.