1.

Explain the meaning of the following:

a. Corporate strategy
b. Product strategy
c. Digital strategy
d. HR strategy
e. strategic position
f. Stategic option
g. Strategic implementation
h. Unrealized strategy
i. Logical incrementalism
j. Freewheel opportunism
k. Mission
l. Vision
m. Deliberate strategy
N. Emergent strategy
a. Corporate strategy: Corporate strategy is the overall plan that a company
develops to guide its direction and decision-making at the highest level. It involves
defining the company's mission, vision, and values, as well as identifying its goals
and objectives. Corporate strategy also involves deciding on the scope of the
company's operations, such as which markets to enter and which products or
services to offer.

b. Product strategy: Product strategy is the plan that a company develops to guide
the development, marketing, and management of its products or services. It
involves identifying target markets, determining product features and benefits,
setting pricing and distribution strategies, and creating a plan for product
promotion and sales.
c. Digital strategy: Digital strategy is the plan that a company develops to guide its
use of digital technologies and channels to achieve its business goals. It involves
identifying opportunities for digital transformation, developing strategies for
digital marketing and customer engagement, and creating plans for using data and
analytics to drive business performance.

d. HR strategy: HR strategy is the plan that a company develops to guide its

human resources practices and policies. It involves identifying workforce needs,
developing recruitment and retention strategies, creating training and
development programs, and establishing performance management processes.

e. Strategic position: Strategic position refers to a company's current position in

the market and its competitive advantage. It involves assessing the company's
strengths, weaknesses, opportunities, and threats, as well as understanding the
competitive landscape and market trends.

f. Strategic option: Strategic options are potential courses of action that a

company can take to achieve its goals and objectives. They represent alternative
strategies that a company can pursue in response to changes in the market or
competitive landscape.

g. Strategic implementation: Strategic implementation is the process of putting a

company's strategy into action. It involves developing action plans, assigning
responsibilities, allocating resources, and monitoring progress to ensure that the
strategy is being implemented effectively.

h. Unrealized strategy: An unrealized strategy is a strategy that has been

formulated but not yet implemented. It represents a potential course of action
that a company may pursue in the future.
i. Logical incrementalism: Logical incrementalism is an approach to strategy
development that involves making small, incremental changes to a company's
strategy over time. It involves a continuous process of learning, experimentation,
and adjustment.

j. Freewheel opportunism: Freewheel opportunism is an approach to strategy

development that involves pursuing new opportunities as they arise without a
clearly defined plan or strategy. It involves taking advantage of opportunities as
they present themselves and adapting to changing circumstances.

k. Mission: A mission is a statement that defines a company's purpose and the

reason for its existence. It often includes the company's values and beliefs, as well
as its goals and objectives.

l. Vision: A vision is a statement that describes a company's aspirations and its

desired future state. It often includes a long-term outlook and a statement of the
company's values and beliefs.

m. Deliberate strategy: A deliberate strategy is a strategy that is carefully planned

and executed in a systematic manner. It involves a high level of control and a focus
on achieving specific goals and objectives.

o. Emergent strategy: An emergent strategy is a strategy that emerges over time

in response to changing circumstances or opportunities. It involves a flexible,
adaptive approach to strategy development that is responsive to the dynamic
nature of the business environment.
Q2A. Explain how government policies and decisions affects organisation

Government policies and decisions can have a significant impact on organizations,

as they can create opportunities, constraints, and challenges for businesses. Here
are a few examples of how government policies and decisions can affect
organizations:

Regulations: Governments can establish regulations that affect how businesses

operate. For example, regulations on pollution, labor practices, or consumer
protection can increase compliance costs for businesses and affect their
profitability. Conversely, regulations that incentivize innovation or environmental
sustainability can create new opportunities for businesses.

Taxes: Government decisions on taxation can have a significant impact on

business profitability. Changes in tax rates or policies can affect a company's cost
structure, cash flow, and profitability. For example, changes in corporate tax rates
can affect a company's net income, and changes in sales taxes can affect
consumer demand for products.

Trade policies: Governments can establish trade policies that affect a company's
ability to compete in domestic and international markets. For example, trade
policies such as tariffs or quotas can increase the cost of importing or exporting
goods, which can affect a company's competitiveness.

Infrastructure: Government investment in infrastructure, such as roads, ports, or

broadband networks, can create opportunities for businesses to expand their
operations and access new markets. Conversely, the lack of infrastructure can
constrain business growth and limit access to new markets.

Monetary and fiscal policies: Government decisions on monetary and fiscal

policies can affect interest rates, inflation, and exchange rates, which can affect a
company's cost of borrowing, production costs, and competitiveness in
international markets.

Overall, government policies and decisions can significantly impact organizations.

It is essential for businesses to monitor and understand the potential impact of
government policies on their operations, and to adjust their strategies and
operations accordingly.
Q2B. why many countries enjoy reputation for certain products and
services and also why some industries are attractive than others. Using
established model, explain to your boss what is responsible for that

PORTER’S DIAMOND

Why many countries enjoy reputation for certain products

Farms Strategy, Structure and

Rivalry

Factor Condition Demand Condition

Related and Supporting Industries

Factor conditions: The availability and quality of resources such as labor, capital,
natural resources, and infrastructure can influence a country's competitive
advantage in certain industries. For example, a country with a highly skilled
workforce and advanced technology may have a comparative advantage in the
production of high-tech products such as semiconductors or software.

Demand conditions: The level of demand for a particular product or service

within a country can influence the competitiveness of industries producing that
product. For example, a high level of demand for luxury goods in a particular
country may encourage local businesses to specialize in producing high-quality,
luxury products.
Related and supporting industries: The presence of related and supporting
industries can also influence a country's competitiveness in a particular industry.
For example, the presence of suppliers and service providers that can support the
production of a particular product can help local businesses to produce goods
more efficiently and cost-effectively.

Firm strategy, structure, and rivalry: The strategies, structures, and competition
among firms within a particular industry can also influence a country's
competitiveness. For example, a highly competitive market with a large number of
firms may lead to innovation and the development of new technologies, while a
less competitive market may lead to complacency and lower levels of innovation.
POTER’s FIVE FACTORS of why some industries are attractive than others

Potential Entrant

Suppliers Competition/Rivalry Buyers

Substitutes

1. Industry competition
This factor considers the number of competitors in the market and how strong
they are. It also compares the quality of each competitor's products and services.
Competition is high when an industry has many companies of similar size and
power. Customers can change from one company to another at little cost.
Therefore, in a competitive market, businesses are more likely to launch
aggressive advertising and marketing campaigns and lower their prices to attract
customers. These strategies can reduce a company's profits.
Competition in an industry is low if few companies are offering the same products.
They have more opportunities to grow and be profitable. Things that can affect
competitive rivalry include:
 Number of competitors
 Variety of competitors
 Differences in products
 Differences in quality
 Industry balance
 Industry growth
 Customer loyalty to existing brands
 Barriers (high costs) to exit the industry
2. The threat of new entrants
This factor considers how easily competitors can enter the market. As more
companies join an industry, existing businesses risk losing some of their customers
and profits. The threat of new entrants is high if companies can enter the market
easily and at little cost or if your company's idea or technology is not patented or
protected.
Things that can make it more difficult for competitors to become established
include:
 Government regulations
 Customer loyalty to existing brands
 High costs of entry
 Limited access to distribution
 Technologies needed
 Experience needed
 Economies of scale
3. The threat of substitute products
This factor considers how easily customers can switch between similar products or
services. If many products fill customers' same needs, those products become
interchangeable. Companies lose a share of the market's profits when customers
use products interchangeably. Profits also decrease if companies begin lowering
their prices to try to compete with substitute products. If a product or service is so
easy to make that many substitute products exist, companies also risk customers
doing it themselves.
Things that can affect substitute products' potential threats to a company include:
 The number of substitute products
 The quality of substitute products
 The price of substitute products
 The customer's likelihood to switch between products
 Customers' perceived difference between products
 The competition's aggressiveness
 The competition's profits
4. Bargaining power of buyers
This factor considers how price changes affect customers' buying decisions and
their ability to lower market prices. Buyers have greater bargaining power when
their numbers are small but the amount of substitute products is high. As a result,
they can cause prices to lower and company profits to shrink. Buyers have less
bargaining power when they buy in small amounts and have few alternative
product options.
Things that can affect how much power buyers have over a company's pricing
include:
 The number of customers
 How much product each customer is buying
 The buyer's ability to substitute products
  The buyer's sensitivity to price
 The buyer's access to information (such as on the internet) so they can
compare products and prices
5. Bargaining power of suppliers
This factor considers the number of suppliers a company has access to and how
easily suppliers can increase their prices or reduce their product quality. The more
suppliers a company has to choose from, the easier it is to switch to one that costs
less or produces a higher-quality product. If few suppliers offer the products a
company needs, they have more power and can charge more for their services.
The company's profits can decline as a result.
Things that can affect a supplier's power over company profits include:
 The number of suppliers
 The size of the suppliers
 A company's ability to find substitute suppliers
 The uniqueness of the supplier's product
 The quality of the supplier's product
 The strength of the supplier's distribution channels
 The volume of product needed
 The cost of switching suppliers
 The industry's importance to the supplier's business
Q3
3a. Explain the effect that competitors have on organisations b. Explain the
types of competitors that are in existence according to Kotler (1997) c. Explain
the process involve in completing a competitor's analysis and the source of
information of competitors
a) Competitors can have a significant impact on organizations. They can affect the
demand for the organization's products or services, pricing, distribution, and
marketing strategies. Competitors can also influence the organization's strategic
decisions, such as entering new markets or developing new products.
Understanding the nature of competition and the strategies used by competitors
is critical for an organization to develop and implement effective business
strategies.
b) According to Kotler (1997), there are four types of competitors:
 Brand competitors: These are firms that offer similar products or services
under the same brand name, such as Coca-Cola and PepsiCo.
 Product competitors: These are firms that offer similar products or services
but under different brand names, such as McDonald's and Burger King.
 Generic competitors: These are firms that offer substitute products or
services that can fulfill the same customer needs, such as fast-food
restaurants and convenience stores.
 Total budget competitors: These are firms that compete for the same
customer's disposable income, regardless of the industry or product
category. For example, a customer might choose between buying a new car
or taking a vacation.
c) The process of completing a competitor's analysis involves several steps:
1. Identifying competitors: The first step is to identify the organization's key
competitors. This can be done by analyzing the industry structure,
researching market share, and studying customer behavior.
2. Gathering information: Once competitors are identified, the organization
needs to gather information about them. This can include analyzing their
financial statements, marketing and promotional activities, product
offerings, distribution channels, pricing strategies, and customer
demographics.
3. Analyzing strengths and weaknesses: The organization needs to analyze
the strengths and weaknesses of its competitors, as well as their strategic
goals and objectives.
4. Identifying opportunities and threats: Based on the information gathered,
the organization needs to identify opportunities and threats presented by
 its competitors. This can help the organization to develop a competitive
strategy that leverages its strengths and exploits the weaknesses of its
competitors.
The sources of information for competitor analysis can vary depending on the
industry and the organization's objectives. Some common sources of information
include:
 Annual reports and financial statements
 Market research reports
 Industry publications and news sources
 Government reports and statistics
 Social media and online reviews
 Direct observation and mystery shopping
 Interviews with industry experts and customers.