Week Three Thought Paper
BA 799 - Strategic Management and Policy
Malcolm Saunders
This week’s assigned reading expanded upon the fundamentals of how companies define themselves and where they are in the market. Overall, the driving force is to have core values, build competencies, identify resources and strengths and weaknesses (Hitt, Ireland, & Hoskisson, 2015, pp.74-90). This chapter also identified the various divisions, departments and entities that are involved in working to ensure a company can be successful. In today’s globalized business environment being able to leverage every resource is expected and required.
A company’s core values are akin to an individual’s personal core values. In the same sense that the value is what your friends, family, co-workers, social groups know are important to you and that you hold firm. It is from this core value set that companies derive or extrude their core competencies. A company that has a core value of being the most green and least polluter of carbon emissions should not engage in the shell game of carbon emissions trading. Adding emissions to the environment and then buying carbon credits to offset or reduce the
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On occasions such as this, the executive suite personnel reinforce the importance of the company staff, personnel, and take steps to implement internal analysis, and offer revised goods and services to existing and potential customers. The company may use the sales team to reach out to current customers to gauge their continued loyalty while at the same time reassuring the customer’s belief that the product or service being supplied remains irreplaceable. The marketing department can be tasked with creating a new outreach program. All of these actions serve to solidify the place of the company in the selected market and the business