Need answered within 6 hours. 250 words minimum
The following activity is intended for you to apply what you have learned to support your recommended types of organizational structure in executing three different types of strategies:
(1) An innovation strategy is one that “emphases the introduction of major new products and services.”
(2) A cost-minimization strategy is one that “emphases (a) tight cost controls, (b) avoidance of unnecessary innovation or marketing expenses, and (c) price cutting.”
(3) An imitation strategy is one that “seeks to move into new products or new markets only after their viability has been proven”.
Respond to the following three questions:
What type(s) of organizational structure works (work) best with an innovation strategy?
A cost-minimization strategy?
An imitation strategy?
What are the respective advantages (pros) and disadvantages (cons) (if any) in adopting such organizational structure for each intended strategy?
Choose a strategic option out of the three (innovation, cost-minimization or imitation) strategies for your focal company (Wal-Mart Corporation), what are the underlying reasons for that company in terms of its current internal and external areas of competitive advantages?