To begin with, the Corporation should take into account the reality of the nowadays turning-to-stability situation. The risks which were concerned with the economic crisis are being made even due to the stabilization processes with funds’ increase during last few weeks and continuation of customers’ activity as of portable technological devices and cordless amenities which are produced in Able Corporation.
Under such striking and negative conditions, the company more than ever needs to focus on the most significant and approved sectors of its structure applying to the method of strategic planning as a core element of current provided internal and external policy. Having had once the share of 40 % and a high acknowledgment of customers the company, as for me, should grab special attention on the end-users and their variability as of the requirements and preferences in contrast with competitors. The innovative prospect should be touched upon and considered for further rehabilitation of relationships with partners and customers as well. Here the points of faster education and gaining more objective experience play a great role. In this case, it is known according to one research, that “in fact, strategy development and planning processes are increasingly being identified as a primary source of adaptation and learning in organizations (De Geus 1988).” (Cited in Crittenden & Crittenden, 1997, p. 170).
Moreover, the speed of products’ representation and reproduction is fast due to technical and scientific progress which has drawn to a head so far and intends the competitors to concentrate their main efforts on the innovations and technical amenities reckoning with the power and capabilities of cordless devices. As far as I am concerned, this strategy will definitely demonstrate the wholeness of our senior management team and the strength against most terrible and significant for further development current events and changes within market space.
After the acquisition of the new holdover my person and the senior management team headed by the president of the company should be put into the picture about market changes and direct procedures concerned with sales activity. Thus, there will be no place for intrigues about the status quo of the new strategy. Moreover, the strategic plan presupposes further reconsideration made by the president only. To make his decision weightier for the company the current strategic design is aimed to be proved with senior colleagues during the intentionally planned summit conference. The factor of markets’ dynamics is grave here. For example:
Speedy new product development (SNPD) and timely introduction have other crucial implications for successful competition in today’s markets. Successive, quick new product or technology introductions help a company sustain its lead in a new market. This strategy enables the company to learn about its markets, make changes, and then position the revised products (Cited in Zara & Ellor, 1993, p. 9).
Moreover, if a case of the company’s internal obstacle emerged, I would inform about the essence of such resistance to the president with points on its effective and rational liquidation without any harmful effect for the Corporation, notwithstanding whether it is a technical or human reason. The significance of constructive communication is high and promotes fast reflection on the market’s changes and afterward reaction of Able Corp. However, Able Corporation should definitely count on the confidentiality of its information and the sources of its coming. It is so because the moral approach with its points on privacy and right to share information under the conditions of extreme necessity is a bit another thing in contrast with the economic approach with its neutral estimation of the above-mentioned features of the self-interest of controlling potentially personal and highly significant information (Penney, 2007).
- Gibbons, P. T., & O’Connor, T. (2005). Influences on Strategic Planning Processes among Irish SMEs. Journal of Small Business Management, 43(2), 170+.
- Penney, S. (2007). Reasonable Expectations of Privacy and Novel Search Technologies: An Economic Approach. Journal of Criminal Law and Criminology, 97(2), 477+.
- Zahra, S. A., & Ellor, D. (1993). Accelerating New Product Development and Successful Market Introduction. SAM Advanced Management Journal, 58(1), 9+.