The firm has redesigned and shaped both the external and internal commercial environments to enhance its profitability and triumph. The company has invested in the creation of a broad range of aerial photography and videography products that meet the needs of a diverse society Hongjia, This paper focuses on the strategic competitiveness and management tactics of the company.
This is helpful for Chevron as it will aid in its choice of the appropriate range of products to produce.
In addition, Chevron should try to lower its production costs below the ones for the competitors so as to achieve competitive advantage.
Improvement of efficiency in production is another key strategy in trying to gain competitive advantage, because the products will be more preferred in the market.
Chevron should also consider merging with some competitors so as to reduce the level of competition in the market and ultimately improve the economies of scale. The company should also seek to modify and package its products in a unique attractive manner so as to entice the customers to buy.
On the other hand, Chevron should also use the resource based strategy in order to thrive well in the market. Chevron should try and achieve a sustainable competitive advantage by combining its resources and capabilities in a manner that they can not easily be replaced by the competitors.
The company should also endeavor to create economic rent; earning a favorable amount of money above the capital employed and not just profits.
This can be done through creating a more cost effective production method and avoiding wastage of resources. Another important improvement technique is the continuous creation of balanced business systems. This should be done by employing the production architects who know how to put together and utilize the various factors of production and methods of production.
The persistent success of Chevron Corporation can be directly linked to the commitment to their mission and vision statements. The value of the company helps by distinguishing and guiding its actions. The company also holds as its mission the need to respect the law, protect environment, support universal human rights, as well as benefiting the communities it works with.
Therefore, it motivates them to work with honesty in all their business deals in order to meet high ethical standards for the prosperity of their business. It also enables them to embrace cultural diversity and the various different talents of the stakeholders which together can be put into production of better products and services.
And finally, their respect for the law and human rights has also enabled them a peaceful coexistence among the stakeholders and outsiders. Also, it motivates the company stakeholders to maintain good customer relationships since the company wants to be admired for its partnership.
According to GaughanChevron Company has got various stakeholders who also contribute in various ways towards its success. These stakeholders include the government, stock holders, surrounding communities, employees, customers, suppliers, and some of the non governmental organizations such as the research partners.
On the other hand, the stockholders of the Chevron Company help the company achieve its production activities by providing the necessary capital through the buying of the company shares. They assist the company achieve its success by creating an enabling and peaceful environment which is very important for business activities.Strategic Management and Strategic Competitiveness April 11, October 11, UK Custom Essays Writers Choose one (1) public corporation in an industry with which you are familiar.
Essay about Google's Functional Marketing Strategy - As defined in the textbook, functional strategy is the approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity.
Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Click to share on Google+ (Opens in new window). Brainy Term Papers lists more than 10, term papers on various academic fields/disciplines.
This is where all your academic problems are solved professionally own tranceformingnlp.com We have several years of experience in offering excellent quality Term Papers to students in . Assignment 1: Strategic Management and Strategic Competitiveness BUS Business Administration Capstone Professor Clayton Sinclair III April 17, Strategic Management and Strategic Competitiveness The company that I researched was The Clorox Company.
The strategic management process is more than simply a set of guidelines to take after. It is a philosophical methodology to business.
Upper administration must think strategically in the first place, and then apply that thought to a procedure.