Term Paper: Manufacturing Industry
Sample Term Paper
This term paper is on manufacturing industry. There are two main view of the strategy in the current environment that are popular the first one is the market-led approach and the other is the resource-based theory.
There are two main view of the strategy in the current environment that are popular the first one is the market-led approach and the other is the resource-based theory. A market-led strategy is not very flexible and leads to a dissonance in the competitive environment, therefore it should not be adopted in isolation. The newer resource-based strategy is the very opposite of the traditional approach and tackles the problem from the resource side of the operations, through this the main idea is to develop core competencies and capabilities. Although both the strategies are complementary, however there is a need to compete in the dynamic environment and for that increased manufacturing, flexibility is needed.
Aligning competitive strategy with the competitive environment leads to strategic flexibility that is dynamic. In turn aligning the dynamic and flexible manufacturing strategy with the business-level strategy will lead to a strategic resonance, which takes the positive aspects of the market-led and resource-based strategies. This will lead to an alignment between the marketing strategy and the business strategy. The consequences for the managers would be changes in the strategic decision making process for both the senior and manufacturing executives.
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