Competitive Strategy Long Term Goal for Business

Question: Describe about the Competitive Strategy for Long Term Goal for Business. Answer: What is strategy? Paragraph 1: The key ideas In order to achieve a long-term goal, a business organisation has to design a plan of action. This kind of plan of action is known as a strategy. As per the opinion of Dandira (2011), potential resources, profound market knowledge and decorated advertising policies are an integral part of the business strategy. It is essential for an organisation to preserve a sustainable market position in this competitive world so that the firm could achieve the long-term goals and objectives. Thus, the successful business organisations across the globe introduced diversified strategic planning in order to reach the light of the success. It provides direction and action plan to establish a concise and strategic way, so that the firm acquires the direction to move with the required action plan (Mullins, 2012). Furthermore, it prioritises and align activities to establish a task priority and allocates the resources for performing the strategic initiatives and coordinate with each other to attain the organisation goals. The defines accountabilities step provides a clear idea of job responsibility and the required time frame to achieve the expected outcome. Additionally, it enhances communication and commitment to increase the alignment of all the organisational activities (Myrna, 2009). It is alos helpful to improve the communication process in all the levels of the organisation. Moreover, it provides a framework for the ongoing decision making process. All the operational decisions of the organisations have to support the adopted strategies initially and similarly the strategic initiatives taken by the firm are the key point for all the organisational decision making approach. Thus, the different types of organisations need to be adopted various types of strategies by analysing the internal and external environment of the firm. The firm is required to construct the strategies depending on the natures and categories of the business (Schmidt and Jettinghoff, 2016). The next parag raph describes the business strategies of an e-commerce firm, Amazon. Paragraph 2: The beneficial applications In order to differentiate the market position, the e-commerce company has tied up with different start-up organisations like IMBD.com, Junglee.com, pets.com, Zappos.com, which assisted the firm to offer a high degree of value to the customers. Considering the words of Dandira (2011), Amazon has achieved a high range of economic scale by providing a wide product line that consists of electronics gadgets, apparels, games, toys and much more. An extensive product segment has helped Amazon to keep the product price low so that the customers would get an optimum benefit while shopping with the chosen e-commerce firm. According to the opinion of Mullins (2012), Amazon Dash, Amazon Prime Pantry and Amazon Pay to Quit, etc. are the most prospective strategies of the firm to boost up the revenue margin. Adding to this, the e-books, movies as per the demand of the consumers has provided a maximum revenue margin to the firm. Hence, the brand is competent to preserve a unique value of its produc t and services towards the global marketplace. Therefore, it could be depicted that Amazon has created its brand reliability by following the adopted strategies. References: Dandira, M. (2011) The impact of executive directors service contracts on strategic plan, Business Strategy Series, 12(1), pp. 1218. Mullins, J. (2012) PLAN B: RE-THINKING FUNDING, Business Strategy Review, 23(4), pp. 4749. Myrna, J.W. (2009) How to ensure your recessionà ¢Ã¢â€š ¬Ã‚ fighting game plan gets implemented, Business Strategy Series, 10(3), pp. 173180. Schmidt, G.B. and Jettinghoff, W.M. (2016) Using Amazon mechanical Turk and other compensated crowdsourcing sites, Business Horizons, 59(4), pp. 391400.