Sunday, August 11, 2019

Explain and critically discuss the pros and cons for a firm in Essay

Explain and critically discuss the pros and cons for a firm in adoption an emergent rather that a deliberate, planning approach to strategy development - Essay Example Unexpected marketing benefits may result from an emergent strategy. A company can design emergent strategy to corporate a business opportunity or something else that competitors have not identified. For example, a firm may set deliberate strategies to become the best supplier of a particular primary product or service in the next five years in a particular city. However, along the way, it may discover that a minor product or service is selling more than the targeted one. The business may decide to set up an emergent strategy to increase the sale of the minor product in order to realize more profits. In essence, emergent strategy helps a business to offer what the market demands rather than what the company believes or thinks the customers want. An emergent business strategy also enhances the advancement of technology and thus development of the product being provided in the market. Emergent strategies mostly spark from individuals in a business reacting directly to shifts in the mark etplace factors and forces. Their decisions thus reflect order sizes, consumer tastes, and practices of competitors. When two or more organizations provide the same products that have almost similar features and technologies, clients will be unable to distinguish one from another. Hence, the firm will begin to refine and develop its product to add new features to survive in the marketplace and stand out. The business will attempt to engage emergent strategy to include the new product developments that could propel it to emerge as a technological leader in the marketplace. However, an emergent strategy plan can go off course and result in completely new and unexpected problems if an organization continually uses it to attempt to capture an attractive idea. Organizations constantly put out fires by dealing with unexpected issues that can cause it problems. Although keeping an eye on emergent strategies is helpful in doing so, the businesses

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