Critical review from an Business Strategy Article Essay

Critical review from an Business Strategy Article - Essay Example Therefore, the concept of core competencies as an application strategy for businesses, require advanced focus and learning the trends and change within an industry, and then identifying one or a few areas of the changing trends that are likely to merge, then working towards producing a product that serves that exact merging point of need (Prahalad & Hamel, 80). Informed by the principle of competitiveness, the strategy of core competencies works on the basis of building a portfolio of competencies, at the expense of a portfolio of businesses, meaning that attaining competiveness for a business organization is no longer about building a chain of related business within an industry, through diversification, but analyzing the specific areas a business can have a competitive advantage, and then capitalizing on that area to build on the competitiveness (Prahalad & Hamel, 81). Nevertheless, while applying the strategy of core competencies, it is paramount that focusing on new areas of busi ness where others have not yet perceived opportunities should not relent, so that an organization can build a stable competitive platform, which makes it difficult for others in the same industry to compete. The main strengths of the article is that it demonstrates the major arguments through the application of real organizational examples, detailing the process of such organizational businesses, and showing how the core competencies strategy made an overall difference. This way, it becomes easy to understand the strategy advocated, since real life examples are applied. A better demonstration is when the information technology industry was evolving in the early 1980s, where GTE was the company poised to take the advantage of the opportunity... Informed by the principle of competitiveness, the strategy of core competencies works on the basis of building a portfolio of competencies, at the expense of a portfolio of businesses, meaning that attaining competiveness for a business organization is no longer about building a chain of related business within an industry, through diversification, but analyzing the specific areas a business can have a competitive advantage, and then capitalizing on that area to build on the competitiveness (Prahalad & Hamel, 81). Nevertheless, while applying the strategy of core competencies, it is paramount that focusing on new areas of business where others have not yet perceived opportunities should not relent, so that an organization can build a stable competitive platform, which makes it difficult for others in the same industry to compete. The main strengths of the article is that it demonstrates the major arguments through the application of real organizational examples, detailing the process of such organizational businesses, and showing how the core competencies strategy made an overall difference. This way, it becomes easy to understand the strategy advocated, since real life examples are applied. A better demonstration is when the information technology industry was evolving in the early 1980s, where GTE was the company poised to take the advantage of the opportunity and see significant growth in its size, sales and revenues, considering that it was already well established in the industry, as opposed to NEC, which was a relatively small company in the industry

Rephrase Essay Example | Topics and Well Written Essays - 1750 words

Rephrase - Essay Example This paper aims at establishing a valid relationship between the levels of productivity in UAE’s organisations vis-Ã  -vis the levels of Knowledge Management, Organizational Trust, Creativity and Innovation in those organisations. With the advent of globalisation, the worldwide market has witnessed an increased degree of diversity in terms of products and services. The 21st century has come across a myriad range of the expectations and preferences of the consumers. This diversity has also found a parallel reflection in the workforce of today’s organisations. The modern organisations showcase a widely diverse workforce with respect to age, gender, nationality, education and experience. The knowledge or intellectual capital of the workforce is a powerful and precious asset to the organisation. It is a magical tool not only for maintaining sustainability but also for gaining a competitive advantage. In today’s competitive age, merely the information regarding products or services is not enough to surpass competitors. Such knowledge and information has to be upgraded and enhanced time and again depending upon the market situation. The workforce needs to show flexibility and creativity in the applica tion of their share of knowledge. The organisations need to adapt to the changing market scenario. This is where the role of knowledge management comes in. It assists organisations by helping them in polishing their strengths and overcoming their weaknesses through idea generation and subsequent effective implementation of those ideas. But to lead the competition, knowledge alone is not sufficient. It needs to be complemented by other elements such as interpersonal trust, creativity and innovation in using that knowledge. This paper looks forward to studying the interplay of Knowledge Management, Organizational Trust, Creativity and Innovation and their contribution in the productivity of organizations in UAE. By playing a vital role in the working of all