Before class, I have ever heard about strategy much time. In my architectural work experience, the strategy is tools in every part of the working’s process. To reach the target market, marketing strategy is also required in reaching consumer segmentation. On the other, financial strategy also important for making business profit.
Strategy is a guideline to deal with a circumstance in business action. Moreover, the strategy is an action plan to define the way of business. To start the business, the strategy is an important key to consider because we need to evaluate business resources to generate competitive advantages.
In class with Dyson case, Dyson is one of my favourite vacuum cleaner. I can say how it different from a rival. Dyson has changed the behaviour of vacuum process to wireless tools with rechargeable. It is an innovative design. Dyson demonstrates strategy in any way. Firstly, Product strategy, Dyson’s product spend long time on research and development before launching to the market. the product’s position is produced in high quality and high price. The price is twice higher than some competitors. Secondly, team strategy, Dyson company has its own culture that different from many rivals such as no ties, don’t spend too much time for email and memos. Dyson create a new service that collects cleaners from customer’s home,then repairs them and return on the next day. The company gained biggest volume in the UK cleaner market. Although dyson grew rapidly in the first ten years. The competitors reduce the price and quality to compete for the market share. Dyson uses action strategy to reduce their cost of production by moving the manufacture to Malaysia. For the marketing strategy, Dyson expands to the global market. There has a brand’s shop in 32 countries.
From the lesson. Many strategies needs to concern in each stage of business such as financial strategy, product strategy, marketing strategy, team strategy. When start the business, Short term strategy and long term strategy are also important because it is a plan that shapes the direction of the business in the future. Furthermore, the strategy should be flexible, It could change in every time depending on the situation.