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Business Strategies and Objectives
The aim of this paper is to prepare matrices that will be used to justify strategies that will be recommended in the paper. There will also be analysis and detailed discussion on other alternative strategies, including providing the advantages and disadvantages of the alternative strategies. All the specific objectives and strategies will be addressed and there will be an analysis for the next three years with estimated costs for every year. The article will also compare and contrast the recommended strategies and the actual ones adopted by the firm (Google). Recommendations will include how the strategies are to be implemented by the firm in question, and expected results will be noted together with a timetable for recommended items. Detailed information of how to review and evaluate the success of the recommended strategies will also be provided.
In many circumstances, business strategies will always aim at describing efficiently how the business is supposed to succeed in a particular market, against the numerous competitors of the same market. The strategy, therefore, provides the management of a business firm with the best attempts to adopt in the process of securing the business' future and success. Precisely, a business strategy should be able to answer many queries. One of the questions answered is the scope of the business. In addition, the strategy should be able to contain ways to deal with both future and current wants of customers, who are either available or potential. It also provides the steps the firm is expected to follow in order to expand on its competitive advantage. Competitive advantage has to integrate both the distinctive capability and unique competence ability of the firm.
Google business strategies
Google is a corporate organization that has specialized in innovative and entrepreneurial marketing strategies that are unique. The internet search engine has a rich history of dealing with online technological advancements. Regardless of its power to be a leading search engine, the organization has also specialized in the production of innovative products in the market. In particular, the marketing strategy of Google is to focus on the youthful segment around the world and the target is to provide the youth with a tool to gain knowledge, seek information and have fun. The Google search engine also provides an opportunity for its users to be acquainted with the evolutions of the world. In the Google portfolio lays many other organizations including Small Medium Enterprises (SME's).
Google has always strived for a competitive advantage position through its reviewed strategies. Google's strategy has always been to take part in innovative projects whose end result is profit maximization. The organization's acquisition of other companies adds extra value to users and quality staff that leads to extra profits. However, there are other numerous strategies, which the organization could adopt for the purpose of maximizing its competitive advantage. The recommended strategies are listed and discussed in the proceeding paragraphs.
One of the strategies, which the organization has to adopt, is the recruitment strategy. Google has to maintain an efficient recruitment strategy and ensure its prospective employees are those who are attractive in the market, conceive to fill different positions in the organizations and the organizations also has the obligation of providing a convenient environment for work. The human resource unit has the responsibility to implement the best recruitment procedures for the organization. The department has to provide job descriptions of the workforce required by the organization. This will be inclusive of the control and coordination of interviews (Billsberry, 2007).
Google could also adopt the strategy of using its rich culture that presents a working atmosphere, but also provides for relaxation time and space. The organization's culture allows for all people of different backgrounds to work in Google. The company embraces and offers multi-cultural job opportunities hence all the people, regardless of ethnic cultures qualify to work for Google Company. The culture of the organization also encourages employees to be dedicated and focused to work. The employee's determination and loyalty to Google is what adds value to the organization (Weber, 2008).
The Google Company also needs to implement the strategy of policy development. It is the policy of innovation and encouragement that will ensure employees work on interesting projects, which eventually add value to the organization. There has to be a creative and innovative policy, which allows the technicians and engineers of Google to spend a few hours working on prospective projects to enhance income generation. All the services offered by Google come up due to innovation and creative thinking. Examples include Google Mail and Google News.
SWOT analysis for Google
Lack of innovative products
Poor recruitment procedures
Lack of employee motivation
Strong marketing strategy
Diversity of products
from related organizations offering search engine services
Lack of monopoly in service and product offered
Expanding of the market to the entire market arena
Production of more interesting products and services for competitive advantages
Enforcement of the organization's culture
SWOT analysis is a method used to analyze the competitive position of an organization. The organization matrix above represents one for Google. The matrix assesses both the external and internal aspects of a business. The SWOT's framework assists in the auditing of the organization's objectives together with its environs (Ghazinoory, Abdi & Mandana, 2011).
The IE Matrix (Google)
In most cases, the IE matrix is drawn from the EFE matrix plotted on the y-axis and IFE matrix plotted in the IFE matrix. After calculating the matrices lines are drawn vertically and horizontally and the meeting point of the lines is the company's position. For Google's case, the EFE matrix's total weighted score is 2.47 while the IFE total weighted score is 2.81. As demonstrated in the diagram below, the company is in the position, which requires it should hold and maintain most of its strategies. However, the recommended strategies have to be implemented to see the organization grow to stronger positions. The position, therefore, calls for market penetration and product development strategies.
EFE ScoreDiagram showing IE matrix for Google
Though the recommended strategies for Google are market penetration and product development, there are other strategies, which come with advantage and disadvantages. The other two alternative strategies are market development and product proliferation. Market development is the progress the organization finds new market segments for their products and services. The advantage of adopting market development strategies is that it will increase the income for the organization, as more products and services will be available for a larger market. The disadvantage is that the strategy requires a lot of money to conceptualize and extra expenses will be required by the organization.
Product proliferation is the other strategy where different products are provided to relevant market segments. This means all market segments are catered for with the products and services that suits them. The advantage of product proliferation is that it allows for industry competition in all market segments increasing the income generation capacities of the organization. The disadvantage could be that the products and service could be of lower quality due to lack of specialization in a single product. Product proliferation also needs extra expenses due to increased volumes of output (Hill & Jones, 2009).
Itemized estimation of costs (Suggested action items)
Actions and Strategies
Estimated Costs (Amount in $)
Expand the market through strategizing by market development
Adopt and implement product proliferation strategy in the newly acquired market segments
Enhance employee development and sustain an efficient management ability (Include cash rewards for best performing employees)
Comparison of recommended and actual organization strategies
Though the actual strategies of the organization (market penetration and product development) are working out for them, the situation could be better with the implementation of the recommended strategies. Market development and product proliferation are all strategies that are income generating and will ensure better profit rates for the organization. The new strategies would also help Google expand their market segments are target a larger population as more markets will be developed and products will be available for all the segments (Mair, Ventressa & Mart, 2012).
Implementation of recommended strategies
Implementation of strategies is tricky if not considered with the attention it demands. The strategies have to be presented and displayed in a simple model, to assist in the implementation processes. The implementation process needs sponsors to avoid financial conflicts and constrains, in case the organization does not afford the expenses needed. There is also necessity for a coordinating committee and other consultants who will provide advice and plan on the best ways to implement the strategies. The organization will also need facilitators on the ground, who will be obligated with the actual implementation process. The management will be responsible for decision making to ensure all implementation stages are coordinated in the best…[continue]
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