1. A company’s strategy is management’s game plan to grow the business, attract and please customers, compete successfully, conduct operations, and achieve targeted levels of performance.
2. The important point of a company’s strategy is setting moves to build and it enhances company’s long-term competitive position and financial performance. In other words, these are in a competitive advantage over rivals that they become the company’s tools for a making company’s profit.
3. A company’s strategy typically evolves over time. It occurs from a blend of proactive and deliberate actions on the part of company managers and adaptive emergent responses to unanticipated developments and fresh market conditions.
4. Closely related to the concept of strategy is the concept of a company’s business model. A company’s business model is management’s blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover costs and yield an attractive profit. The two elements of a company’s business model are its customer value proposition and its profit formula.
5. Sift’s Cupcake and Dessert Bar’s strategy is to increase the number of stores as well as keep their atmosphere of a family environment internally and externally. They use the broad differentiation strategy because they are for all different age ranges including kids, teenagers and adults. They have a decorate your own cupcake for the kids, the “OMG” environment for teenagers to hang out with their friends and have a space to themselves, and adults buy from them for their families, parties, their companies they work at and school events that their kids have. The key factors that will determine a company’s success in the specialty baking market is the creativity of designing the baked goods, having a broad customer market and not just for a certain age group, and getting brand loyalty from customers. The brand loyalty can be...
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