P1 Unit 5 Essay
Complete Name: Unit 5 Student Name: Fairbanks, Gloria
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1. Conduct online research on FedEx, including both company and non-company sources.
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2. In a narrative format, discuss the company from a strategic perspective. Information concerning recent changes in the firm is readily available online and should be accessed. Strategic issues should be discussed in “real time.”
Student Answer: FedEx was founded in 1971 by Fred Smith, previously known as Federal Express, headquartered in Memphis, TN. FedEx, is a multinational …show more content…
Provide extensive support for your answer.Miles and Snow’s strategic typology involves four strategic types: defenders, prospectors, analyzers, and reactors. I categorize Dollar Tree’s strategic typology as a prospector. Prospectors are innovative and always seeking growth opportunities, new markets and willing to take risks. Dollar Tree took a major risk when they purchased Family Dollar stores, however, that placed in a more competitive position to combat the Wal-Mart Markets and Dollar General stores as well as the Dollar General Markets, which is their greatest competitors to date. Nevertheless, each of the typologies, defender, prospector, analyzer, and reactor could be a step forward if implemented strategically. The defender typology will focus on improving the efficiency of Dollar Tree’s existing operations. Analyzers keep a watchful eye on their competitors for new ideas and often implement those ideas into their marketing strategy and business development plans. Reactors respond on an as-needed basis, they monitor the situation and respond accordingly.Reference:Gimenez, F. P. (2000). The Benefits of a Coherent Strategy for Innovation and Corporate Change: A Study Applying Miles and Snow’s Model in the Context of Small Firms. Creativity & Innovation Management, 9(4), 235.Assume that Dollar Tree competes in the discount retail industry. Identify the strategic groups that …show more content…
Dollar Tree offers flyers in the newspaper on a monthly basis, outside of that, there is minimal to no advertising. No advertisement has been implemented informing customers of online shopping availability. Many retailers use all forms of social media for advertising as well as television. All generations are on social media, many times they can be the first line of advertisement, especially if the company has a small advertising budget.All of the major discount retailers set themselves apart by partnering with a well-known brand. At Wal-Mart, you can find celebrity cookware and bedding, coupled with low prices. Target, you will find celebrity household brands and apparel. K-Mart you will find celebrity bedding such as Martha Stewart. They must set themselves apart even though they are a dollar store. Additionally, Dollar Tree should expand their product line and offer more convenience for their customers. They should incorporate a grocery line in stores close to residential areas. Specifically, poverty-stricken neighborhoods that may not have immediate or easy access to a market. Most important, courteous staff. It is imperative that any organization has helpful and courteous staff. Your staff can make or break your business. Reference:Parnell, J.
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1. Conduct online research on FedEx, including both company and non-company sources.
**********************************************************************************************************
2. In a narrative format, discuss the company from a strategic perspective. Information concerning recent changes in the firm is readily available online and should be accessed. Strategic issues should be discussed in “real time.”
Student Answer: FedEx was founded in 1971 by Fred Smith, previously known as Federal Express, headquartered in Memphis, TN. FedEx, is a multinational …show more content…
Provide extensive support for your answer.Miles and Snow’s strategic typology involves four strategic types: defenders, prospectors, analyzers, and reactors. I categorize Dollar Tree’s strategic typology as a prospector. Prospectors are innovative and always seeking growth opportunities, new markets and willing to take risks. Dollar Tree took a major risk when they purchased Family Dollar stores, however, that placed in a more competitive position to combat the Wal-Mart Markets and Dollar General stores as well as the Dollar General Markets, which is their greatest competitors to date. Nevertheless, each of the typologies, defender, prospector, analyzer, and reactor could be a step forward if implemented strategically. The defender typology will focus on improving the efficiency of Dollar Tree’s existing operations. Analyzers keep a watchful eye on their competitors for new ideas and often implement those ideas into their marketing strategy and business development plans. Reactors respond on an as-needed basis, they monitor the situation and respond accordingly.Reference:Gimenez, F. P. (2000). The Benefits of a Coherent Strategy for Innovation and Corporate Change: A Study Applying Miles and Snow’s Model in the Context of Small Firms. Creativity & Innovation Management, 9(4), 235.Assume that Dollar Tree competes in the discount retail industry. Identify the strategic groups that …show more content…
Dollar Tree offers flyers in the newspaper on a monthly basis, outside of that, there is minimal to no advertising. No advertisement has been implemented informing customers of online shopping availability. Many retailers use all forms of social media for advertising as well as television. All generations are on social media, many times they can be the first line of advertisement, especially if the company has a small advertising budget.All of the major discount retailers set themselves apart by partnering with a well-known brand. At Wal-Mart, you can find celebrity cookware and bedding, coupled with low prices. Target, you will find celebrity household brands and apparel. K-Mart you will find celebrity bedding such as Martha Stewart. They must set themselves apart even though they are a dollar store. Additionally, Dollar Tree should expand their product line and offer more convenience for their customers. They should incorporate a grocery line in stores close to residential areas. Specifically, poverty-stricken neighborhoods that may not have immediate or easy access to a market. Most important, courteous staff. It is imperative that any organization has helpful and courteous staff. Your staff can make or break your business. Reference:Parnell, J.