Strategic Management Products and Services

Question: Discuss about the Strategic Management for Products and Services. Answer: Introduction The following analysis highlights the features of fast cycle market and standard cycle market and its competitive edge over others. For the better understanding of the given proposition, Toyota Motors have been selected as the organization in this regard. Standard and fast cycle market The market cycle may be divided into various segments, namely, standard cycle, fast cycle and others. If the market is based on slow cycle, then the most important rival would be different from fast cycle market conditions. On the other hand, there are strategic alliances that are found in slow market cycles. The various reasons include enhancement of access to the restricted market and foundation of a new franchisee in a new market and maintenance of market stability (Bansal and DesJardine 2014). The competitive advantage may be attained by the organization by comprehending copyrights, patents, geography and others. Thus, it would be more efficient and convenient for the organization to be a market leader in the auto industry. The competitive edge is oriented to maintain, protect and widen the various advantages exit in the market if the competitive advantage is developed (Choi et al. 2014). The competitive advantages of a firm are safeguarded from that of imitation. The reason of t his is, imitation happening promptly in fast cycle market conditions. The competitive advantage of the firm is not sustainable in the course of this period of the cycle. On the other hand, standard market cycle and fast cycle market are less effective than others owing to a rapid decline in the prices of organizational products and services that also contributes to declining in productivity (McLean and Zhao 2014). Business instance of standard cycle market The significant competitor of Ford is considered to be Toyota Motors Company. The noteworthy players are dependent on market cycle and condition of the market. In standard market conditions, Ford may take one type of competitive advantage from Toyota Motors (Braun 2012). As per the given instance, Ford Motors may use the technology for manufacturing of premium products and services to assume competitive advantages in the fast market cycle. The change in the profit of the organizations would result in a change of significant players. In the given case, Ford has to spur various innovative products to assume as a notable player in the industry (Chatterjee 2013). Utility of fast cycle in business Fast cycle time is however not an alien concept of business strategic management. Nowadays, business managers in more complex organizations are availing competitive advantage by making major changes in the management of the companies. The fast cycle time exerts two major roles. It is an organizational capability, and level of performance that the management builds and shapes into the firms operating systems and also the attitude of the resources. The main idea of fast cycle time is to formulate an organization which functions without errors, inventories, and bottlenecks that most companies operate with. Secondly, the fast cycle is a management model, which propels a management how to assume competitive advantage in the sector. The fast cycle option contributes to better performance across the ranks of the organization (Bansal and DesJardine 2014). Costs fall as production materials collect fewer overheads and do not accrue as work-in-process inventory. Also, customer service experien ces improvement since the lead time on order receipt to shipment decreases. This impels in higher quality in operations which boosts the company to keep the organization in proximity to the consumers (Morden 2016). Instance of fast cycle market To elucidate the topic, it is imperative to introduce the instance of McDonald in the given context. The fast cycle markets help the company to undertake faster decisions, develop new products and increase the efficiency in customer deliverables (McLean and Zhao 2014). Student Post (discussion) Fast cycle is not something new relating to business strategy. Firms accomplish sustainable competitive advantage by initiating drastic changes in the ranks of the organization. This enables them to make decisions faster. The factual reality is fast cycle method helps in developing new products, services and solution for a given firm. This results in creating unique value for the organization, by and large. This is a typical management model which impels any organization with competitive advantage that the firm may exercise over others in the business domain. On the other hand, standard-cycle reflects service being rendered to a large segment of customers in competitive market conditions. While fast cycle aims to gain competitive advantage over players, the later entails over service being delivered to a vast range of customers. In this case, competitive advantage is less specific in nature, and therefore standard-cycle entities can replicate the model and perform their objectives in slow-cycle market conditions. Conclusion The above discussion analyses the effectiveness of fast cycle in the business parlance by introducing Ford Motor Company and McDonalds as instances which explicate the given topic in the best possible manner. Reference list Bansal, P. and DesJardine, M.R., 2014. Business sustainability: It is about time. Strategic Organization, 12(1), pp.70-78. Braun, C., 2012. Economic Analysis of Fast Spectrum Reactors. In Fast Spectrum Reactors (pp. 39-46). Springer US. Chatterjee, S., 2013. Simple rules for designing business models. California Management Review, 55(2), pp.97-124. Choi, T.M., Hui, C.L., Liu, N., Ng, S.F. and Yu, Y., 2014. Fast fashion sales forecasting with limited data and time. Decision Support Systems, 59, pp.84-92. McLean, R.D. and Zhao, M., 2014. The business cycle, investor sentiment, and costly external finance. The Journal of Finance, 69(3), pp.1377-1409. Morden, T., 2016. Principles of strategic management. Routledge.