Rumelt's evaluating strategies Essay Example | Topics and Well Written Essays - 500 words

Rumelt's evaluating strategies - Essay Example Whereas the strategies have the same objective of ensuring business success, they also draw various differences. In this short essay, I seek compare and contrast two of the criteria, advantage, and feasibility. One significant distinction between the advantage criterion and the Feasibility criterion is their approach with regard to company or organization’s mission. The competitive advantage strategy, unlike the feasibility approach, focuses on the differences among other organizations rather than on the firm’s common mission (Crouch 85). The criterion’s approach is not so much on how can this function be achieved but rather how the company can execute it either higher than, or at least as a substitute of the firm’s rivals (Crouch 86). On the converse, the feasibility criterion focuses wholly on the firm’s core mission, and therefore does not overburden the available resources, but rather focuses in appraising whether a strategy can executed within the available human, and financial resources (Windham, n.d). There is no comparison between firm’s available resources with other competing firms as it is with the advantage criterion, but keeping the focus on early appropriated resources. However, both Advantage and feasibility criteria correspondingly embrace innovative advances to financial expansion can both extend the definitive limitations and offer a competitive advantage, though it might be only temporary. Another difference between feasibility and advantage is that, feasibility tends to focus its evaluation on long-term strategies whereas an advantage aims at what can be invoked right away to bring positive change specifically. Through feasibility, an organization has to be evaluated to see that it demonstrates competencies necessitated by the strategy. Honestly, from such an approach, it cannot give details of each action demanded to be initiated by the strategy. Therefore, the purpose of the

Issues in global economy Essay Example | Topics and Well Written Essays - 2000 words - 2

Issues in global economy - Essay Example In turn, more economic growth was observed and many new jobs were created. In other words, new companies, business organisations and enterprises joined the arena that not only resulted in healthy economic growth but also in stiff competition among existing entities. Businesses, therefore, started making innovations and developments in their production process and finished products so that they could differentiate their produce from the rivals in the same industry. Nevertheless, this competition benefited people in a way that they now had more variety of products at their disposal. The emergence of media, especially after popularity of ‘Penny Press’ was another reason that enhanced the knowledge of people about their surroundings while it also enhanced the flow of information. Businesses started understanding the importance of advertising, branding, research and marketing intelligence in order to ensure their survival, growth and sustainability. Also, they started producing highly sophisticated and modern machinery to speed up their operation and improve productivity. The media, especially newspapers, has also become popular by the end of 19th century. Finally, important inventions such as advent of Television and Internet in the 290th century helped introducing the world with an entirely new concept of globalisation that talks about international markets, international institutions (banks, universities, research centres and others etc.), global politics, justice, global culture etc. In short, people are closely knitted after recent advancements i n internet and communication media and the subsequent improvements in circulation and sharing of information among people from different communities and geographic regions. The relationships among people and their frequent communication have also created enormous business opportunities after emergence of global markets that in turn have increased global trade (through imports and exports).