Business Strategy Reflection Essay

company should closely monitor and control the performance of these strategies to assess progress against pre-defined targets. This ensures that all elements of the company are fulfilling their responsibilities.

In any company, management plays a crucial role in establishing and defining the responsibilities of each function, overseeing operational activities, and ensuring alignment with the company's objectives. Collaboration among management is essential for setting effective strategies to enhance the company's competitiveness and consider all relevant aspects, ultimately increasing profitability and value. Additionally, the company should adopt core values that guide its efforts in achieving objectives.

The Zappo family showcases various core values, such as a dedication to learning and growth, a willingness to be creative and adventurous, and an open-mindedness. Moreover, they stress the importance of fostering a positive team and nurturing a family spirit. Zappos understands that prioritizing the happiness of partners, customers, and employees is essential for maintaining excellence in their industry. The CEO also recognizes the connection between the company's daily performance and the culture of happiness. This understanding has helped assess the effectiveness of their strategies, evaluate the importance of their resources and capabilities, and determine how to gain a competitive advantage over their true competitors.

The company, KP Maclane, should assess its strengths and weaknesses, as well as external threats and opportunities in the market. It should also examine how its value chain activities impact customer value proposition and cost structure. Managers should consider the company's competitive situation when making important decisions about new strategic moves. To evaluate its internal situation, the business needs to assess the effectiveness of its current strategy, its competitive resources and capabilities, and its ability to capitalize on market

opportunities and overcome external threats. It should also determine whether it is stronger or weaker than its key rivals. Additionally, identifying key factors is crucial (using the case of Walmart).

When choosing between competing sellers and brands, buyers are strongly influenced by the service features or product attributes presented. It is crucial for the company to be aware of these factors, as well as identify any shortcomings that could potentially give them a competitive advantage. The example of Amazon.com highlights the importance of understanding the necessary competitive capabilities and resources needed to successfully execute strategies in the marketplace.