1What aspects of todays global economy make strategy more im

1.What aspects of today’s global economy make strategy more important than in previous periods?

2. Be ready to share one sentence descriptions of each of the 5 strategy archetypes.

3.Summarize one story about a company in the news today (find a news article that was published within the last 3 months). Which of the five strategy archetypes did they apply and why?

4. What are some traps in attempting to apply the right approach to strategy according to the environment? How can things go wrong?

Solution

1. Today’s global economy is more competitive than the earlier economies. Now the customers are having access to all product and services and they are having different options to buy new products and services as per their wish. The organizations are also developing and growing quickly through various innovations and product differentiations so as to achieve competitive advantage. This makes the organizations to formulate more complex and effective strategies so as to achieve competitive advantage. Through the formulation of effective business strategies, the management can also reduce the risks associated with the international business which is very high in the modern market.