Strategic Management Essay Example | Topics and Well Written Essays - 2000 words - 27

Strategic Management - Essay Example culmination of activates that are often performed by the players in the market to design, make, promote and deliver these products to the final consumer (Walters and Rainbird, 2004). All the activities mentioned above lead to the satisfactions of the customer and they generally tend to factor in the needs of the final consumer. According to porter, the company can attain the competitiveness that it requires when it is able to successfully implement a generic strategy (De Kluyver and Pearce, 2009). The generic strategy focuses on the creation of differential products, focusing on the attainment of cost leadership and focus on the ultimate usability of the products. In the classification proposed by porter, the activities aimed at the attainment of generic strategy can fall into a class of inbound logistics, operations, outbound logistics marketing and support service (Ward and Mccreery et al., 1998, pp. 1035--1046). The aboveclass of activities falls into the primal category. The world is increasingly turning out to be very competitive (De Kluyver and Pearce, 2009). The competition among the business both at the local and international level is so high such that the success of any organization in the modern society has to understand the mechanisms of the market (Walters and Rainbird, 2004). The clear understanding of the market dynamics is important for the organizations that would be able to stay at the top of the business operations (Certo and Certo, 2006). Sector matric is one of the approaches that the organizations can use to stay ahead of the other by gaining significant competitive advantage by providing the organizations with the demand andsupply information. Sector matrix is an extension of the porter’s theory of value chain (Venkataraman and Pinto, 2008). It also incorporates the ideas from the commodity chain (Ward and Mccreery et al., 1998, pp. 1035--1046). This tool enables the creation of the idea of the market in the mind of a perso n (Nell and