Strategic management

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Topics: Management
Easy solution is a machine by listening to commands delivered via Internet, intranet or touch screen, it can produce exact mixes of solutions with the precise pH values in a particular temperature in a minute time. Questions raised by the investors will be taken from SAFe framework which is suitability, acceptability and feasibility.
Suitability
Camillia Oxley and three of her friends have founded Easy Solution and later form Labs Minds Ltd to market Easy Solution. The hierarchy is shown in Figure 1. To solve the bottle-neck problem of time consuming and getting the right pH, Easy Solution is a necessary. Competitive resources should follow the VRIN criteria which defines a firm is deemed to have competitive advantage when it creates more economic value than its competitor (Peteraf and Barney, 2003). Suitability is where in the external environment, candidates must first determine whether strategic choices are suitable ad compatible (Wu, 2010).

Figure 1

Valuable
There are three reasons which makes this machine a competitive advantage which is it is able to save time, save resources and save money. It can save up to 500 hours across the whole time as a doctoral student and also create varying mixes of liquid chemicals which have an exact pH at a particular temperature. It also has better function than its rival brand Miillipore such as an alternative uses as a coffee machine.
Rarity
The Easy Solution is the pioneer product which is able to perform mixes accurately. Alternatively, it can also be used as a coffee machine where rival brand Millipore, failed to do so.
Inimitable
The Easy Solution machine cannot be easily imitated by other company especially for its extra function as a coffee machine.
Non-substitutable
The Easy Solution cannot be easily substituted by other machines or by doing it manually in order to save time and to get the exact pH at a particular temperature. Also, by the function of its ability to treat it as a coffee machine



References: Cooper, D. J. and Kagel, J. H., 2005. Are Two Heads Better than One? Team Versus Individual Play in Signaling Games. American Economic Review, 95(33), pp.477-509. Nelson, C., 2010. Communication styles and business growth. Journal of Financial Planning, third quarter, pp. 8-11. Ram,P. and Prabhakar,G.V., 2011. The role of employee engagement in work-related outcomes. Interdisciplinary Journal of Research in Business, 1(3), pp.47-61. Patch 6 This Strategic Management in Action subject has thought me lots of things. It has certainly broadened my knowledge as all patches use a real case study. I have learnt about management styles, leadership styles, and organizational structures. Furthermore, from each case, it allows me to know more about their organization such as Google, Faslane and Microsoft. I might not search for more information about those organizations and get to know more about it if these case studies were not given. Besides that, I am exposed to more theories and concepts. These theories and concepts will definitely benefit me for my future. For example, I can apply the SAFe or VRIN concept if I want to start a business and sell a new product. Even if it is not for the use in the business world, if I were to pursue my studies in management studies, these theories and concepts has helped to build my fundamental and will help with my understandings of certain subjects. It may not be essential for me to apply those theories and concepts when I step into the business world, but I might be able to apply some of the strategies such as strategies Faslane and Microsoft used to manage change. The downside of this assignment is the limitation of a maximum of 500 words per patch. There are so many information, arguments, theories and concept to apply into a case. Teaching method can be improved such as giving more real case examples, showing some interesting videos and the lecturer conduct the lecture in a more interesting way. However, learning experience in college wasn’t that great. The lecturer tried her best to teach us and gave us lots of information but we are only given 1 day of lecture and 1 day of tutorial every week. Sometimes, it is hard for me to catch up certain topics that I always have to refer to my classmate. One thing which is great was guidelines were given on how to answer those questions for the case studies. Few classmates and I form a study group ourselves to discuss on how to answer those questions and what theories and concepts should we apply. This has certainly made me a more responsible person because tasks have been evenly distributed to all of us. I have to make sure that I am always on time for discussion and also do my research on my given task. I have also learnt about team work. Unfortunately, our discussion place which is our college library is always lacked of resources. When we need some additional information, our library does not provide those books that we need. While another option is to search for information from the internet, our college’s internet is either very slow or the internet is always down which make our group discussion very difficult to go on. It seems like studying and discussing in college is the biggest problem for me, lots of time was wasted due to this problem. (501 words)

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