3.10.4 Problems with Strategies and Why They Fail

Question 1

What are 2 examples of successful strategies?

Answer 1

Apple - differentiation strategy - unique features, strong brand loyalty - apple ecosystem all seamless
Spotify - prioritises innovation, user experience and partnerships by working with artists and enhancing the experience

Question 2

What are 2 examples of unsuccessful strategies?

Answer 2

Toys R Us - Failed to adapt to online - had a unique instore experience
Blockbuster - merger with Netflix declined - stayed in physical stores

Question 3

What is Primark an example of?

Answer 3

A business which has faced online by keeping their prices low

Question 4

What is strategic decision making?

Answer 4

The process of making long-term choices that align with a business’s mission and objectives

Question 5

What are 3 difficulties of implementing strategy?

Answer 5

External Factors
Availability of resources - staff, money etc
Attitude of stakeholders - resistance?

Question 6

What are planned strategies?

Answer 6

When there is a detailed plan which is meant to cover eventuality in the future e.g allow for external factors

Question 7

What are emergent strategies?

Answer 7

Those that evolve with circumstance e.g they can change depending on factors