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Mkt 555 Essay

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Below is an essay on "Mkt 555" from Anti Essays, your source for research papers, essays, and term paper examples.

The article main focus is on the components of strategy and the way to differentiate or distinguish between strategy and operation efficiency. The article discusses these two topics and explains the connection between them, and how they are not compatible.   A strategy is a plan that is set by the organization in order to help the organization’s future plans; it will contain all the goals, objectives or maybe barriers and issues that the organization might face. However, planning for the strategy must be in an efficient ad effective manner in order to attain a very strategic plan.
The organization should choose a different set of activities in order to deliver a good customer value. The article explains the different types of patterns in competition and the misunderstanding that exists between operational efficiency and strategy. The operational effectiveness works as a strategy replacement as long as the competitors are not using the same process or techniques. Going back to the activities that will be set by the organization; those can be of a different types that can emerge from three distinct sources; serving few needs of many customers, serving broad needs of few customers, or serving few needs of many customers.
Fit can drive both competitive advantage and sustainability as it has the ability to determine how the activities interact and reinforce on another. Nonetheless, operational efficiency and effectiveness is about bringing those activities together. A good example that was mentioned is the Vanguard group aligns all of its activities with a low cost strategy, this helps to distribute all the funds directly to the customers and also minimize the portfolio turnover. The main point in the article here is too combining the perfect combination or the rights mix of strategy and activities to have a perfect strategy. Rediscovering strategy is the failure to choose a strategic position, the misunderstanding of competition and its related forces,...

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