The Origin of Strategy

The Origin of Strategy Term Paper
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The Origin of Strategy Term Paper
A strategy is about how individuals in the company should practice decision-making and allot resources to attain critical objectives. Watkins (2007) describes strategy as a set of directional principles that produce the desired decision-making pattern if communicated and embraced in the company. A great strategy offers a precise roadmap comprising rules that describe the actions individuals in the company should take and the things that need to be prioritized to attain desired objectives (Bashir & Verma, 2017). Similarly, Porter (1996) asserts that competitive strategy entails being different and selecting different actions to provide a unique mix of values. For instance, Southwest Airlines offers point-to-point, short-haul, and low-cost services between mid-sized cities and secondary airports in enormous cities. Southwest shun enormous airports and does not fly immense distance. Thus, Southwest’s regular departures and low fares lure price-conscious clients who have otherwise opted to commute by automobiles and suitability-focused commuters who would opt for a complete-services airline plying other routes. Thus, Southwest’s competitive strategy demonstrates the importance of strategy in opting to perform activities uniquely than competitors do.
In the same line of thought, Malnight et al. (2019) encourage companies to develop purpose at the center of their strategy because that is what high-growth companies do to stay competitive and make profits. High-growth companies do this by reshaping their value proposition. Organizations constantly enhance their value propositions through business models, goods, or service innovation when challenged with declining margins in a fast-commodifying world (Malnight et al., 2019). Hence organizations can make this move in three main methods concentrating on pain points, reacting to trends, and building trust. For instance, Securitas AB, a security organization, reacted to trends and shifted from offering physical guarding services to utilizing electronics...