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XXXXXXXXXXWrite an essay of explaining the main strategy development tools and how they are used among Resource-Based View, Five Forces, PESTEL,ANSOFT Matrix,Input/ Output strategy, Porter's 3...

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XXXXXXXXXXWrite an essay of explaining the main strategy development tools and how they are used among Resource-Based View, Five Forces, PESTEL,ANSOFT Matrix,Input/ Output strategy, Porter's 3 Generic, Blue Ocean Strategies of medium sized tourism company and Child care company in Australia which leads them to earn profit in business
Answered Same Day Apr 14, 2020 HI6006

Solution

Aarti J answered on Apr 17 2020
144 Votes
Strategies
Blue ocean strategy
Blue ocean strategy emphasizes on attracting new customers by innovation and technology implementation. With the implementation of technology and innovation, the company is able to stay ahead of the competition. Thus, it creates new market and new customer base while red ocean strategy emphasize and focus on the existing market and existing customers. The companies which has adopted red ocean strategy faces competition and the companies needs to align its strategy in such a way that it is able to attract its customers while the companies emphasizing on blue ocean strategy emphasize on differentiation and staying ahead of the competition, with this the companies are able to attain competitive edge and are able to make a unique market to cater to.
Ansoff Matrix
The ansoff matrix focuses on four aspects and the strategies which the company can adopt to expand in the market. The four strategies includes: Market penetration strategy, market development strategy, product development strategy and diversification. The market penetration strategy focuses on the cu
ent products and cu
ent markets. The market development strategy is the strategy where there are new products that can be marketed in the cu
ent market. The market development strategy is the strategy which focus on the new markets and cu
ent products while diversification is the strategy where the company caters to new markets and new products.
Porter’s Generic strategies
Porter Generic strategy has presented four different strategies which help the company to stay competitive and sell its product to the market. The three major strategies of the generic strategies includes the cost leadership strategy, differentiation strategy and focus strategy. The low cost strategy is the strategy where the companies sell its products at a low cost, the differentiation strategy is the strategy where the company markets differentiated products at higher prices and the focus strategy is the...
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