please submit in EST time.Thank youCLA1 390 -WEEK5 Comprehensive Learning Assessment 1 – CLO 1, CLO...

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please submit in EST time.Thank youCLA1 390 -WEEK5 Comprehensive Learning Assessment 1 – CLO 1, CLO 2, CLO 3, CLO 4, CLO 5, CLO 6, CLO 7 You have been promoted to Director of a mid-to-large sized company. You operate in 2 locations, on the east and west coast. You currently employ about 100 people and you manufacture electromechanical devices used in the medical field. Your company has enjoyed growth and success in previous years with good market share. Unfortunately, due to the slumbering economy, profits and market share have decreased amid increases in operating expenses. Your job as the new director is to strengthen the company's competitive position.  Please do the following:  · What type of strategy would you employ to counteract the decline in profits and market share? · Would it be an offensive or defensive strategy, or a mix of both?  · Please justify your answer.  · Give details pertaining to the strategy you have chosen; first mover, fast follower, mergers and acquisitions, outsourcing, or strategic alliances.  · What impact did any of the 5 competitive forces have on your decline?  · What would you have your management team do specifically?  · What role will they play in the recovery?  · How will you monitor or otherwise ensure that unethical behaviors are minimized? · What efforts will incorporate to ensure that you have a strategy for re-training employees, or hiring new employees? Make sure you outline specific goals that your strategy must meet, and how you will measure meeting these goals using quantitative and/or qualitative measurements. You should develop an APA-formatted paper, 5-7 pages in length explaining what strategy you would select and how you would execute the strategy. *Please refer to the Grading Criteria for Comprehensive Learning Assessments (CLAs) in the University Policies for specific guidelines and expectations.

Sayani · Accepted Answer

Running head: STRENGTHENING POSITIONS				       
		2
Strengthening Our Competitive Position
Star Student
Westcliff University
BUS 387: Development of Business Strategy
Professor Fantastic
Month Date, Year
Strengthening Our Competitive Position 
The main target and aim of this paper are to focus on strengthening the competitive position, which the company had enjoyed in the previous with good market share. However, unfortunately, due to the slumbering economy, profit and market share out of the increase in operating expenses (Thompson, Williams & Gamble, 2017).
In this regard, the company has decided to undergo new strategy and as a director in this field, I would like to discover as well as explore the new strategies with justification. I would want to understand the five competitive forces, lead the team with sufficient and relevant information regarding the project guiding them perfectly as an efficient leader, impact of the human resource management in recovery and decision-making process.
New Strategy Chosen
As the company is facing loss due to slumbering of the economy, profit as well as market share, therefore as a director along with the management decided to update and change the strategies in order to earn back the position in the market. Keeping in mind, the competitive nature of the market, the best strategy explored would be to upgrade the technologies and invent something creative and review the business process as well as produce the specialized products in order to exercise the customer relationship.
In this regard, with the developing and advancing era, healthcare system is changing their pattern and reshaping their agendas and goals. Therefore, in this digital era, in order to get fitted and adjusted company should initiate advance technologies in order to produce an effective outcome and strengthen the position (Mikalef, Krogstie, Pappas & Pavlou, 2020). In order to get back the position our business use to enjoy previously, reviewing and modification of business processes is utmost needed.
In order to perform this task, our company needs several creative and upgraded technologies. In order to gain back the customers interest and faith, the company should produce specialized products specially the ones preferred by the customers. It should present them uniquely in the market in order to gain customers attention towards their products and stood a different position in market.
Strategy Type
In order to achieve the profit rate and rank a better position in the competitive market, our company has decided to experience both the strategies, that is the offensive as well as the defensive strategy. As the company is wanting to produce innovative product and services in this regard offensive strategy would suit the best. Offensive strategy is the approach in the marketing,

CLA1 390 -WEEK5 Comprehensive Learning Assessment 1 – CLO 1, CLO 2, CLO 3, CLO 4, CLO 5, CLO 6, CLO 7 You have been promoted to Director of a mid-to-large sized company. You operate in 2 locations, on...

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