Discuss the requirements for directional adaptive market ent

Discuss the requirements for directional, adaptive, market entry and competitive strategies?

Solution

Directional strategies helps a company plan and chart out its path for business growth. The pre-requisite for a directional strategy is the presence of a goal. All organizations must define their goals before hand. The goal can be to grow earnings, cut staff costs etc.

Adaptive strategies helps a company tide over in times of economic downturn. It is used in times of volatility, uncertainty, complexity and ambiguity. The pre-requisite is the absence of a fall back plan or al alternate plan.

Market entry strategy helps in targeting a new market. It is used in the expansion of new markets. The requirement for a market entry strategy is the presence of a product in an existing market.

Competitive strategies are strategies that gives an organization edge over its competitors. The requirement for competitive advantage is the presence of attributes and resources which can be used in a meaningful way by a company to gain an edge over competition. An organization should have unique resources which it can leverage to its advantage.