Week 25

11)    In your own words and using referenced quotes explain why strategy theories developed in the last 10 years tend to be quite different from those developed in the 1960’s.

‘’They say I am old fashioned and live in the past but sometimes I think progress progresses too fast.’’ – Dr. Seuss

The nineteenth century was the era of capitalism, and the twenty-first century is the era of mixed economy including political democracy stabilizing the fiscal policy, antitrust regulation etc. In the twenty-first century there is a better understanding of the complimentarily between the market and the state- a greater appreciation of the virtue of the mixed economy. (Rodrik, 2001). In the earlier time the environment was not as complicated like it is now, there was less market capacity, less competition and there was almost monopoly in the market, and when there is monopoly in the market the seller is less bothered about the customer’s satisfaction. But the situation is a complete opposite, monopoly market does not exists now because the number of buyers have increased and so have the consumers, if the sellers are not bothered about consumers behavior and customer satisfaction they  might have to exit  from  the market as well. There is very tough competition in the market, with all the technological advancement, globalization and the dynamic environment we are living in, everyone has to be ready to face competition.  Now a days the strategy should be long term forecasting, and it should be in a way to achieve the competitive advantage.  

22)    You attend a job interview for an entry level managerial position and mention that you completed a 30 week strategy module. Your interviewer seems interested and explains that this job role would enable you to become involved in the strategy making process. In 200 to 300 words explain to your interviewer how the module has helped to prepare you for a strategy role.

Strategy was a completely new topic for me, I never thought I would get to learn so much from it, I never thought it would be taught in such a brief way, the 30 weeks of the my module was very helpful me to understand each and every strategically and analytically tool very briefly now I can proudly say that yes about all the strategically and analytically tools like the SWOT, PESTLE, Poters Five forces model , &’s model , TOWS analysis, Ansoff Matrix and Change kaleidoscope. Some of these tools have also been very useful for the day to day life as well, this module has helped me grow and have a proper knowledge about how to make strategies, how to plan , how to think and work analytically. It has also helped me in understanding people, i have also improved my decision making maker and improved my problem solving skill as well.  After the thirty weeks I can proudly say  that I have grown to  be  more open to solving  problems and help people  to understand  what  are all the tools.  So if I am hired for the job I must say I  am capable to formulate new strategies for the  companies benefits,  help  solving problems of the employees with the help of the analytical tool  etc.

   References:  

Rodrik, D. (2001). DEVELOPMENT STRATEGIES FOR THE NEXT CENTURY. Harvard University.