Strategic planning and Implementation. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Facing the competitive landscape where industry is mostly undifferentiated, Speedy Hire Plc has successfully employed the differentiation strategy. This is because of the fact that industry offer products which are generic in nature and compete mostly on non pricing factors. Considering these external dynamics, Speedy Hire Plc is employing the differentiation strategy in order gain competitive advantage.
Speedy Hire Plc works in an environment which is very competitive in nature and almost serve all the segments of society. A close analysis of the target market and all the stakeholders of the company would suggest the following list of stakeholders in the company – considering both the internal and external environment of the company:
In its essence, SWOT analysis is a very simple tool of assessing the strengths, weaknesses, Opportunities and threats of the organization. However, deep down its one of the strongest strategic tools which if applied correctly can provide many strategic insights into the company’s internal and external environment. One of the basic assumption behind the development of SWOT as a tool is that it assumes that managers can plan the alignment of firm’s resources with its environment (Novicevic, et al, 2004).
Developed in late 1950’s. The ANSOFF matrix is one of the most important tools for business to decide upon their growth strategies. (www.mindtools.com,2008). It provides a quick and simple way of deciding upon the growth strategies while working into any industry or sector. However, there are various arguments against ANSOFF Matrix as the basic means of addressing the growth of the business. The main argument that is often put forward is the basic difference behind the dynamics of the small and large business.