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The Business-Level and Corporate-Level Strategies
Essay Instructions:
n this assignment, you are to use the same corporation you selected and focused on for the assignments, Strategic Management and Strategic Competitiveness and External and Internal Environments.
Research the company on its own website, public filings on the Securities and Exchange Commission's Filing & Forms page, Strayer University's online databases, the Lexis Advance database, and any other sources you can find. The annual report will often provide insights that can help address some of these questions.
Use the Business-Level and Corporate-Level Strategies Template [DOCX] to ensure that your assignment meets the requirements.
Analyze the business-level strategies for the corporation you chose to determine the business-level strategy you think is most important to the long-term success of the firm and whether you judge this to be a good choice. Justify your opinion.
Analyze the corporate-level strategies for the corporation you chose to determine the corporate-level strategy you think is most important to the long-term success of the firm and whether you judge this to be a good choice. Justify your opinion.
Analyze the competitive environment to determine the corporation's most significant competitor. Compare their strategies at each level and evaluate which company you think is most likely to be successful in the long term. Justify your choice.
Determine whether your choice from Question 3 would differ in slow-cycle and fast-cycle markets.
Essay Sample Content Preview:
Week 8 Business-Level and Corporate-Level Strategies Assignment
Student’s Full Name
BUS499 Business Administration Capstone
Professor’s Name
Date
Week 8 Business-Level and Corporate-Level Strategies Assignment
The competitive capabilities depend on various factors such as business-level strategies, corporate-level strategies, and the competitive environment. The management team has a role in ensuring that these strategies are in the organization's best interest. Failure, to which the company would stand at a better position in the competitive edge. Ford Motor is one of the companies that has been applying various strategies to ensure it remains competitive in the dynamic motor industry. Therefore, this paper will focus on Ford Motor company's business-level process, corporate-level system, and competitive environment.
Business-Level Strategies
The differentiation business-level strategy is the most important in the success of Ford Motor company. The process involves providing unique products to consumers to meet their needs (Michael, 2020). These products ought to be unique from those of the competitors to ensure that the company stands in a better competitive position. Therefore, an organization ought to identify the core competencies that can be included in its business strategy to make the company highly competitive in the industry. Ford Motor company applies the differentiation business-level approach by focusing on cutting costs and enhancing the features of their products. One of the main ways through which the company reduces costs is by cutting the cost of materials. In 2017, the company announced that it would cut $10 billion from materials and $4billion from the engineering section. The strategy was made to ensure that the company’s profits continued to increase while remaining competitive in the market. Based on the reduction of the company’s total expenses from 2018 to 2020, it is evident that the strategy was a success (Katiyar, 2021). The costs have been reducing each year ever since the system was developed. Such indicates Ford Motor’s commitment to benefiting from the differentiation business strategy.
Given the current technological advancements, the motor industry has transformed a lot. The consumer expectations of automobiles have also changed. The automobile companies have to work their best to keep up with the consumer changes caused by technology. Ford Motor Company has produced the most efficient automobiles in the industry regarding fuel consumption and engine capacities (Katiyar, 2021). Ford has also manufactured electric cars and made them available to consumers at an affordable cost. The differentiation has also enabled the company to focus on developing unique products that would meet the needs of its consumers. The company will make huge sales from the amazing products that other companies have not manufactured. The strategy will also increase its market share because it will attract consumers whose needs have not been satisfied by Ford Motor’s competitors.
Ford Motor Company uses the core competency of hiring the most talented engineers in the industry. Such a strategy has highly reduced the costs associated with failed products. If consumers experience faulty automobiles, they are likely to lose trust in the company. Such means that the company will lose a substantial amount of its market share. Technology has also provided people with a platform to communicate their views about a particular product easily. Therefore, Ford Motor Company has invested in the best engineers to avoid scandals related to poor quality products. Ford Motor Company also ensures to source high-quality raw materials used in making them some of the best automobiles in the market. Therefore, the differentiation strategy is ideal for enhancing its competitive capabilities because it focuses on consumer satisfaction. Satisfied consumers are highly likely to make repeat purchases, while dissatisfied consumers are likely to seek products from a company’s competitors.
Corporate-Level Strategies
The most important corporate-level strategy is value-creating diversification. Value-creating diversification refers to the system implemented by an organization to ensure that it produces more financial resources than those required to maintain its competitive advantage. The excess financial resources act as leverage to the company because they can mitigate risk in the future (Michael, 2020). For instance, if the company undergoes a major financial downfall, it would use the excess financial resources to cushion the loss. Value-creating diversification can be done through related or unrelated diversification.
In the case of Ford Motor Company, related diversification is an ideal strategy because it would utilize the core competencies already available in the organization. Diversification occurs when a new product has been introduced in the market. New products are likely to attract a substantial number of consumers who wish to experience a different outcome. If the result is favorable to the market, the company will experience an increase in its market share. Ford can tap into this type of diversification through technological utilization to make the products needed to meet the changing consumer needs. Ford Motor Company has already launched electric and hybrid vehicles. Such indicates the company’s potential in the provision of unique products in the market. Therefore, if the core competencies used in creating the individual products are used, the company would stand at a better competitive edge.
Ford Motor Company is operating in a highly competitive environment, es...
Student’s Full Name
BUS499 Business Administration Capstone
Professor’s Name
Date
Week 8 Business-Level and Corporate-Level Strategies Assignment
The competitive capabilities depend on various factors such as business-level strategies, corporate-level strategies, and the competitive environment. The management team has a role in ensuring that these strategies are in the organization's best interest. Failure, to which the company would stand at a better position in the competitive edge. Ford Motor is one of the companies that has been applying various strategies to ensure it remains competitive in the dynamic motor industry. Therefore, this paper will focus on Ford Motor company's business-level process, corporate-level system, and competitive environment.
Business-Level Strategies
The differentiation business-level strategy is the most important in the success of Ford Motor company. The process involves providing unique products to consumers to meet their needs (Michael, 2020). These products ought to be unique from those of the competitors to ensure that the company stands in a better competitive position. Therefore, an organization ought to identify the core competencies that can be included in its business strategy to make the company highly competitive in the industry. Ford Motor company applies the differentiation business-level approach by focusing on cutting costs and enhancing the features of their products. One of the main ways through which the company reduces costs is by cutting the cost of materials. In 2017, the company announced that it would cut $10 billion from materials and $4billion from the engineering section. The strategy was made to ensure that the company’s profits continued to increase while remaining competitive in the market. Based on the reduction of the company’s total expenses from 2018 to 2020, it is evident that the strategy was a success (Katiyar, 2021). The costs have been reducing each year ever since the system was developed. Such indicates Ford Motor’s commitment to benefiting from the differentiation business strategy.
Given the current technological advancements, the motor industry has transformed a lot. The consumer expectations of automobiles have also changed. The automobile companies have to work their best to keep up with the consumer changes caused by technology. Ford Motor Company has produced the most efficient automobiles in the industry regarding fuel consumption and engine capacities (Katiyar, 2021). Ford has also manufactured electric cars and made them available to consumers at an affordable cost. The differentiation has also enabled the company to focus on developing unique products that would meet the needs of its consumers. The company will make huge sales from the amazing products that other companies have not manufactured. The strategy will also increase its market share because it will attract consumers whose needs have not been satisfied by Ford Motor’s competitors.
Ford Motor Company uses the core competency of hiring the most talented engineers in the industry. Such a strategy has highly reduced the costs associated with failed products. If consumers experience faulty automobiles, they are likely to lose trust in the company. Such means that the company will lose a substantial amount of its market share. Technology has also provided people with a platform to communicate their views about a particular product easily. Therefore, Ford Motor Company has invested in the best engineers to avoid scandals related to poor quality products. Ford Motor Company also ensures to source high-quality raw materials used in making them some of the best automobiles in the market. Therefore, the differentiation strategy is ideal for enhancing its competitive capabilities because it focuses on consumer satisfaction. Satisfied consumers are highly likely to make repeat purchases, while dissatisfied consumers are likely to seek products from a company’s competitors.
Corporate-Level Strategies
The most important corporate-level strategy is value-creating diversification. Value-creating diversification refers to the system implemented by an organization to ensure that it produces more financial resources than those required to maintain its competitive advantage. The excess financial resources act as leverage to the company because they can mitigate risk in the future (Michael, 2020). For instance, if the company undergoes a major financial downfall, it would use the excess financial resources to cushion the loss. Value-creating diversification can be done through related or unrelated diversification.
In the case of Ford Motor Company, related diversification is an ideal strategy because it would utilize the core competencies already available in the organization. Diversification occurs when a new product has been introduced in the market. New products are likely to attract a substantial number of consumers who wish to experience a different outcome. If the result is favorable to the market, the company will experience an increase in its market share. Ford can tap into this type of diversification through technological utilization to make the products needed to meet the changing consumer needs. Ford Motor Company has already launched electric and hybrid vehicles. Such indicates the company’s potential in the provision of unique products in the market. Therefore, if the core competencies used in creating the individual products are used, the company would stand at a better competitive edge.
Ford Motor Company is operating in a highly competitive environment, es...
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