WEEK 27

Week 27 

Answer 1                                    

Rapid increase in globalization make world so small and increase huge competition among industry. The technology lead world to digital and it has come so far in short span of time that the way of doing business in 1960 and now is totally different. Internet plays huge role in it. The 60s theories was made according to the situation created in business at that time but last 10 years the ways of doing business is drastically changed. So it’s hard to apply the same theory in present scenario. The present theory is different compare to 60s and reason behind it are listed below.

BEFORE	NOW
Stable environment	Dynamic environment
Low competitors	High completion
Poor technology	Advances technology
Monopoly market	Competition driven market
Low innovation	High innovation
Focus on quality	Focus on quality and quantity
Only focus on customer	Focus on stakeholders

Answer 2

We use strategy in our day to day life. Before studying this module we were only limited to make our personal strategy. But now we are capable of understanding and making professional strategy for organization too. The module covered strategy meaning, types, formation, planning and implementing etc. with proper understanding of analytical tools like SWOT, TOWS Matrix, MC Kinsey 7’s, PESTLE, Porters Five Forces Model, Change Kaleidoscope, Force Field Analysis and Johnson’s cultural web etc. we are now able to understand business situation and implement best strategy for them, moreover dealing with lots of case study of different organization makes us familiar with real organization environment. 

(Case Study)

An American artist, record producer, businesswomen, fashion designer, philanthropist and actress Stefani Joanne Angelina Germanotta is better known by her stage name Lady Gaga. In Influenced by Michael Jackson, Madonna, Queen and David Bowie, Gaga is recognized for her diverse, flamboyant and outré contribution to the music industry through her performance, fashion and music videos. In November 2013, she sold around 24 million albums and 125 million singles globally. Also her singles are some of the best selling song worldwide. Her achievement includes 13 MTV Video Music Award and five Grammy.

Some of her strategies are

Music

Music is very important for singer and they cannot compromise at any situation. Her music whether it is a tract or lyrics both are equally important among people in worldwide.

Music Videos

With constant costume changes, backup dancer and provocative visuals, Gaga's music videos are often described as short films which are very unique in music industry.

Unique fashion

She creates her own fashion in music industry. As she is a designer too she have a good sense of humor for dress code.

Controversies

Controversies are a major part for celebrities. It makes hot news among her fan. So she has engage in so many controversies.

Social media

She makes extensive use of social media, such as Twitter and Facebook, to build her fans base by personally generating the majority of her own online content.

If I have to advice her on her future strategy, the strategy I would undertake is competitor analysis, market analysis, customer analysis and trend analysis.

Visibility

Gaga contribute major role in music industry. She has able to collect large number of fan worldwide. To increase her fan number she should also focus on new generation people. She have to concern about upcoming trend, fashion, culture and attitude etc.

Credibility

She is very sincere about her work. She does her homework very well before she releases her new song.  She is determined and contribute major role in music industry.

Expertise

We can say that she is technically expert in her field because it all can be seen in her success. Moreover she is also expert in piano and live performance.

Attractiveness

Her unique talent and personality make her attractive among her fan. Especially her dress code catch other’s eye in first look. In addition her lyrics and music video support her attractiveness.

Advice

For betterment of her career I would like to advice her following points

a.       Engage in good controversy

b.      Increase tour and concert

c.       Increase philanthropic activities

d.      Cope up with new trends

e.       Focus on unique personality

f.       Give respect to her fans all over the world

Reference

1. Huff, A. (1990), Mapping Strategic Thought, Chinchester: John Wiley & son

2. M. Parker, J.H.(1993) Postmodernism and Organization, London: Sage Publication