CHARACTERISTICS OF COMPETITIVE STRATEGIES

8:53 AM Posted by Blony

.  Organization seeks innovation
 Demonstrated ability to survey dynamic environment and develop new product/services to fit the changing environment
 Frequently and continually innovating, developing, and testing new products/services
 Competitors are uncertain about prospector’s future strategic decisions and actions

 Searches for market stability
 Produces only a limited product line for a narrow segment of total potential market
 Seeks to protect its well-established business
 Does whatever is necessary to aggressively prevent competitors from entering their turf
 Can carve out and maintain niches within their industries that competitors find difficult to penetrate

 Strategy of analysis and imitation
 Thoroughly analyzes new business ideas before deciding to jump in
 Watches for and copies the promising successful ideas of prospectors
 Lacks coherent strategic plan
 Simply reacts to environmental changes
 Makes strategic adjustments only when finally forced to do so
 Unable to respond quickly to environmental changes because resources/capabilities are lacking or are not developed or exploited properly

Now, Download your favorite business document template for FREE!