StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Stategic Managment - Board Report on MarketPlace Progress - Essay Example

Cite this document
Summary
Putting into consideration the necessary strategic steps at Tech Nova, a company that deals in online sales of computers, the company’s…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful
Stategic Managment - Board Report on MarketPlace Progress
Read Text Preview

Extract of sample "Stategic Managment - Board Report on MarketPlace Progress"

Strategic management of Tec Nova Company Strategic management Every company recognizes strategic management as a vital element in obtaining better performance and competitive advantage over their rivals. Putting into consideration the necessary strategic steps at Tech Nova, a company that deals in online sales of computers, the company’s mission is guided by simple interface straightforward computers, which are durable. Tech Nova strategies have been on based on the focus of highly competitive segments, market demand and market reliability while focusing on low price sensitivity.

Having been in the business for a period of more than 3 years, Tech Nova’s market shares undergo evaluation quarterly. Even though the overall performance may not look substantial in the first quarter, market saturation has been acknowledged as one of the factors that led to the projection of these results. According to the financial reports of the first quarter, there has been a weak financial return, a clear indication that the company has long-term focus attributed by stock turnouts (Grünig and Kühn 2011).

After the three years in this industry, Tech Nova Company has been considered as the third best in travelers demand with a total return of 448 points after universal and Pineapple computers. However, the marginal difference was quite narrow and can be easily attained. Moreover, the organisation forms the third best overall in market share. While striving to achieve its best competitive edge, the organisation has also put in place mechanisms to catch up with the second best firm before putting more emphasis of competing with the leading company (Dobson 2004).

Marketing strategyTech Nova’s market segments are characterized by more emphasis on both workforce and the travelers. However, latest reviews have pointed it out that much more can be generated from the workforce as compared to travelers. In addition, achieving substantial results from both is even easier through adjustments of the previous results. The organisational long-term intention is to venture in to the market for Mercedes because, this is one of the leading firms whose monopoly within the first quarter is an indication of good potential for the market (Betz 2001).

Expansion strategyFrom the preliminary results of the first quarter, Tech Nova has been competing only within three markets, but due to the organisational potentials, other markets have been identified. The company can make expansion regionally to areas such as Tokyo and Toronto since only PineApple has been dominant in these areas. The main organisational objective is to expand its market share into these regions and launch competition against the rival company, PineAple. The market share can also be facilitated by venturing into other cities where Tech Nova products have never existed (Schermerhorn 2011).

Branding of commoditiesFrom the results, Tech Nova has identified that, Tech Light pro is one of its competitor in two different segments; workforce and Mercedes. However, the organisation has also maintained its design of a standard desktop as this could easily blend with other commodities.Competition strategyThe main competitors of Tech Nova include PineApple and Universal. However, Universal is getting out of the market gradually. Besides, Tech Nova is doing fairly well and could have received recommendable returns if it were not for the stock outs.

The company aims to push its competitors out of the market by offering quality products at an affordable price.From all the above strategies, it is very clear that Tech Nova is capable of building up its reputation through the implementation of these strategies. Tech Nova potentials in generating enough returns is highly depended on the appropriate articulation of its strategies.Bibliography:Grünig, R. and Kühn, R., 2011. Process-based strategic planning Heidelberg; New York: Springer.Dobson, P., 2004. Strategic Management: Issues and Cases.

Oxford: John Wiley & Sons.Betz, F., 2001. Executive strategy: strategic management and information technology. New York: J. Wiley.Schermerhorn, J., 2011. Exploring management. Hoboken, N.J.: Wiley; Chichester: John Wiley [distributor].Kachru, P., 2005. Strategic Management: Concepts and Cases. New Delhi: Excel Books

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Stategic Managment - Board Report on MarketPlace Progress Essay”, n.d.)
Stategic Managment - Board Report on MarketPlace Progress Essay. Retrieved from https://studentshare.org/management/1638837-stategic-managment-board-report-on-marketplace-progress
(Stategic Managment - Board Report on MarketPlace Progress Essay)
Stategic Managment - Board Report on MarketPlace Progress Essay. https://studentshare.org/management/1638837-stategic-managment-board-report-on-marketplace-progress.
“Stategic Managment - Board Report on MarketPlace Progress Essay”, n.d. https://studentshare.org/management/1638837-stategic-managment-board-report-on-marketplace-progress.
  • Cited: 0 times

CHECK THESE SAMPLES OF Stategic Managment - Board Report on MarketPlace Progress

Corporate Social Responsibility Performance Progress in UK Firms

This report "Corporate Social Responsibility Performance – progress in UK Firms" discusses corporate social responsibility initiatives by businesses in the UK that are studied to assess the level of success and future direction.... Policy matters, practices, tools, innovative approaches, and measurement of CSR will be understood to relate the level of progress of the concept among UK firms.... Journal articles, news articles, websites of companies implementing CSR, official websites of UK government, and case studies reports of businesses implementing CSR will be studied to understand what progress is made related to CSR initiatives and how the performance of businesses is measured based on their CSR initiatives....
18 Pages (4500 words) Report

The Divine Life Ventures Strategic Plan

Therefore the board of governors of the organization will include many prominent names like Steve Jobs, Bill Gates, and movie stars.... These people alongside charity workers will be included in the board of governors.... In this report, a comprehensive environmental scan will be presented with regards to The Divine Life Ventures....
14 Pages (3500 words) Report

Stages of Hiring a New Staff on Board

The report  "HR Management" discusses the different stages of hiring new staff on-board and how to make the right choice of choosing the right person.... It also evaluates how strategic human resource managers could provide useful to the board of management to maximize company efficiency and profitability....
5 Pages (1250 words) Report

Institutional Research Board Requirement

This work called "Institutional Research board Requirement" describes the research code of behavior, benefits of employing the IRB.... From this work, it is clear that IRB should be developed in an integrated manner that combines the essential duties and ethical premises of the traditional review boards....
7 Pages (1750 words) Report

Companys Strategic Management Analysis

The report "Company's Strategic Management Analysis" discusses the system of strategic management of Macpac.... nbsp;The role of stakeholders in the development of a firm's strategic decisions is important.... The potential failure to respond to the needs of the market could be evaluated using different criteria....
6 Pages (1500 words) Report

Business and Management

The paper "Business and Management" discusses the postal industry in the UK, especially the Royal Mail and explains the process of strategic human resource management.... nbsp;It is such a complex process that is continuously evolving and being discussed and studied by academic experts.... hellip; In such an industry Royal Mail Holdings plc was the market leader....
5 Pages (1250 words) Report

Service Operations Management In The Business Process Outsourcing (BPO) Industry

This report "Service Operations Management In The Business Process Outsourcing (BPO) Industry" attempts to evaluate service operations management in the BPO sector based on main operations management functions such as strategic orientation, quality, capacity, etc.... hellip; Service operations are delivered by operations teams with the support of other functions like HR function, finance, technology, security and administration, training and developmental teams, etc....
7 Pages (1750 words) Report

Penicillin Production Process

This report "Penicillin Production Process" focuses on one of the great discoveries by Sir Alexander Fleming.... nbsp;The discovery and advanced development of penicillin contributed to the way of treating infectious diseases, which has since saved lives of millions of people globally.... hellip; Penicillin is the first antibiotic to be used in healthcare to treat bacterial infections....
9 Pages (2250 words) Report
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us