Chess Game Essay

2145 Words5 Pages
bulb-icon

Recommended: Porter’s five forces model is used to analyze the competitive situation in an industry

Can business strategy be understood as ‘a chess game played in real life’?

In this current day and age, with the increasing social trend of global economy as well as the advanced technology and the opening up regimes, the common business operations has been regarded as a common complex chess game practice for the majority of the multinational corporations, especially when penetrating and managing in the international market place. Dixit and Skeath and Reiley (1999, p.135-141.) pointed out that the most manifest characteristics of playing the chess game is the systematic and overall evaluation as well as analysis regarding the general macro circumstance and the situation of the major competitors. As for a wise chess game player, the next strategic operation is highly expected to be carried out after being aware of the competitors and the overall environment. In essence, this wise perspective can also be utilized for the companies, especially for those large scale multinational companies in the international market place context. The primary purpose of this essay is to develop a framework of the systematic understanding regarding the business strategy with the comparison of the chess game principles as well as the characteristics based on the real life business context.

It can be deduced that the business strategy can be generally understood as a chess game in the real life scenario, which requires the companies to carry out all round analysis and evaluation within the intense market competitions. It is generally speaking that at the initial stage of the chess game, advanced and highly sophisticated players are likely to carry out a series of all rounded evaluations and analysis with a view to guaranteeing the best outcome and pot...

... middle of paper ...

...d to learn from the chess game in terms of the ground rules and specific strategic management points of views. There are three common strategic principles and management expertises that the corporations need to be aware of and follow. First of all, it is highly advisable for them to conduct a macro environment evaluation through resorting to the PESTLE Analysis and the Porter’s Five Forces Model. Second, it is of significance to carry out self evaluation analysis with a view to better understanding the firms’ own advantages and capabilities through using SWOT Analysis. Last but not least, the corporation is advisable to conduct an all rounded competitor analysis in order to gain a detailed acknowledgement of the current circumstance possessed by the major competitors so as to assist them to generate a better corresponding strategies in the future business operation.

Show More
Related

  • How Qantas Was Affected by the Global Financial Crisis

    1186 Words  | 3 Pages

    The starting point of the strategic management is said to be the DESIGN SCHOOL with an emphasis on process. However this system is entirely based on the SWOT analysis. Swot stands for strength, weakness, Opportunities and Threats. Strength is a show...

    Read More

  • Marks And Spencer Business Strategy

    1016 Words  | 3 Pages

    Business strategy is the means by which firm’s plans to achieve its goals and objectives. It can also be termed as organization long-term planning. The strategy covers periods between 3-5 years and sometimes longer. Businesses use two major types of strategy, general or generic and competitive strategies. The overall strategy involves strategies of growth, globalization and retrenchment. The competitive advantage includes low pricing, product and customer differentiation. We will look at the business strategy used by Marks and Spenser (Cole, 1997). The company is a British multinational located at Westminster London and specializes in clothes and luxurious food products.

    Read More

  • Themes Of Good Strategy And Bad Strategy

    1873 Words  | 4 Pages

    The first portion of the novel is centered on understanding the essence of strategy. The understanding strategy, according to the author, is derived from truly comprehending what strategy

    Read More

  • The Porter 5 Forces Analysis Tool on 7-Eleven Convenience Stores in Malaysia

    1096 Words  | 3 Pages

    For assessing the industry profitability, Porter 5 Forces analysis tools were used to analyze one organization evaluation. In this case, the technique were used to analyze 7-Eleven Convenience Store specifically in Malaysia. Porter 5 Forces consists of 5 important area which is Threat of New Entrants, Bargaining Power of customers, Threat of substitute Products and services, Bargaining Power of suppliers, and competitive rivalry within the industry. Theoretically, the more powerful these forces in an industry, the lower its profit potential. The strength of each force differs by industry and changes over time. The competitive advantage that 7-Eleven has using these five forces is it has raised the barrier of entry for other competitors to enter the convenience store market as new competitors will require a huge capital investment in order to implement the information technology in their business in order to be competitive. Also, hypothetically being the first in the market, 7-Eleven could have made contracts with the Malaysia government to not allow other 24-hour convenience stores in the market for a certain time period, such as Astro had done, thus having a monopoly market in the beginning of their operations which will allow them to target a bigger market share.

    Read More

  • Critical Reflection of the Porter Five Forces Concept

    1474 Words  | 3 Pages

    In a world of free trade, growing competition and accessibility to foreign markets, the need for methodical market analysis and assumptions is steadily rising in today’s business environment. It is just a normal way of thinking to primarily intent to eliminate the financial before entering a new and foreign market. This suggests that enterprises have to develop an overall strategy for their business in order to gain competitive advantage and consequently market share. With the words of Michael E. Porter, professor at Harvard University and leading authority on competitive strategy, this desirable market success is indirectly linked to the individual structure of a market. The unique structure of a single market influences the strategic behaviour and the development of a competitive strategy within a firm. The competitive strategy finally decides whether a company performs successfully on the market or not. Referring to this interpretation of business success, M. E. Porter established his five forces framework that enables directives to gather useful information about the business environment and the competitive forces in industries.

    Read More

  • PESTLE Analysis Approach To The Oil And Gas Industry

    729 Words  | 2 Pages

    The deep analysis of the macro-environment is key to the organisations in order to understand which factors are impacting their operations. The main purpose of PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental) is to identify those factors that have an impact on the organisation but are outside its control area. Together with other frameworks (such as Porter’s ‘5 forces’), PESTLE framework is required to develop a comprehensive analytical strategic process.

    Read More

  • The Role Of Situation Analysis For A Marketing Plan

    1445 Words  | 3 Pages

    Analyzing situation prior a strategic decision is critical for generating or sustaining competitive advantages, especially when facing the dynamic environmental trend which can affect corporations’ performance positively or negatively. The main task for a situation analysis is to explore the external factors (that can imply what opportunities a firm should seize and what threats it has to pay caution to) and internal factors (that can tell what a firm can do to develop its strengths and to avoid its weaknesses). And as Sally, Lyndon & John (1996: 3) defined, the terminal object of a marketing plan is to achieve particular marketing strategy. And a marketing strategy, which expressed clearly by Subash (2004: 26), requires a corporation using its relative corporate strengths to better satisfy customer needs and finally achieve maximum positive differentiation over its competitors in a numbers of internal and external variables. While Malcolm (2006: 376) concluded that the main concern of a strategic marketing plan is to establish, defend and maintain competitive advantage. However, the market environment today is changing quickly, followed by the increasing keen competition. To maintain a certain competitive advantage is impossible in such situation and the only way to earn above-average return is to react rapidly with updated information from environmental scanning. Thus, no matter what the purpose of a marketing plan is, situation analysis is crucial to provide an overall understanding of existing competitive position, organizational capabilities and market trends which is ever-changing.

    Read More

  • Movie Industry Profitability

    1820 Words  | 4 Pages

    Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2011). Strategic management: Competitiveness and globalization, concepts and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.

    Read More

  • Great Game Essay

    3065 Words  | 7 Pages

    The term "The Great Game" was originally coined to denote the political rivalry that existed between the British Empire and the Russian Empire during the nineteenth century. The two great powers clashed over interests in Central Asia, with Afghanistan at the epicentre. While the British sought a buffer to protect their crown colony India, the Russians feared that the British might undermine their power in Central Asia by inciting rebellion among the regional Muslim tribes. The threat of a unified Germany forced the two empires to broker the Anglo-Russian Agreement in 1907, which effectively signalled the end of the traditional phase of the Great Game. However, the collapse of the Soviet Union in 1991 left several newly independent nations in the Caspian Sea region, sitting in a power vacuum, where Soviet control once dominated them. Rich in both oil and natural gas, the Caspian Sea region rapidly directed the gaze of foreign powers to Central Asia once more, in what scholars are characterizing as the "New Great Game." As defined in this paper, the New Great Game refers to the geopolitical game played between nations to control Central Asia's energy supply. Unlike the previous phase of the game, it must be noted that the current phase is not rooted in territory, but something much more valuable. The prizes of the New Great Game are oil, pipelines, tanker routes, petroleum consortiums, and contracts. And the players have multiplied to include the United States, Russia and Iran as major powers, in addition to regional powers such as Pakistan India, Azerbaijan, Kazakhstan, Turkey, Turkmenistan and Afghanistan. Although the original projection of oil reserves in the 1990s was estimated to be between 100-150 billion barrels (bb), pr...

    Read More

  • Strickberg's Ten Schools Of Thought In Strategic Management

    1427 Words  | 3 Pages

    The following study’s scope consists of understanding the essence of Business Strategy, Levels of Strategy & perspectives of Strategic Management.

    Read More

  • Chess Engagement Paper

    1796 Words  | 4 Pages

    This is filler text for my personal engagement paragraph, where I will be writing about the wonderful game of chess and how it interests me. I will talk about my past history and interactions with chess and why I chose the knight’s tour as my topic for math exploration. I won’t include too much research or calculations here but it should help my case. I will now copy and paste the paragraph I just wrote to make it look longer. This is filler text for my personal engagement paragraph, where I will be writing about the wonderful game of chess and how it interests me. I will talk about my past history and interactions with chess and why I chose the knight’s tour as my topic for math exploration. I won’t include too much research or

    Read More

  • The Globalization in Business Management

    537 Words  | 2 Pages

    Firstly, multinational corporations are not something new in this 21st century. There are more and more international corporation as people try to boost the process of globalization. The development of these multinational corporations depends on the management of the owners. Transnational strategy is needed in order to operate such a big system of companies. Every nation in this system has to be managed thoroughly in order to help running the corporation, as well as to keep the system as one consistent body of business. Managers also find it important to look for opportunitie...

    Read More

  • Strategic Management Reflection Paper

    1135 Words  | 3 Pages

    That reminded me from the case study the director how to plays round of the company to succeed this Colombian Memorial Hospital. External control view of leadership, situations in which external forces where the leader has limited influence determine the organization 's success. Strategy, the ideas, decisions, and actions that enable a firm to succeed. competitive advantage firm 's resources and capabilities that enable it to overcome the competitive forces in its industries. Operational effectiveness, Performing similar activities better than rivals. Intend strategy, strategy in which organizational decisions are determined only by analysis. Realize strategy, strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource limitations, and changes from managerial preferences. Strategy analysis studies of firms ' external and internal environments, and there with organizational vision and goals. Strategy formulation, decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage.

    Read More

  • Golf Game Essay

    1357 Words  | 3 Pages

    Millions of people around the world take pleasure in the game of golf every day, but few know when and where this complicated sport began to evolve. The game is played outdoors on a large course with a series of 9 or 18 holes placed far apart. The intention is to hit a small hard ball using various clubs into each hole with as few hits as possible. The game is loved and hated with equal amounts of interest by many. Golf though is much more to me it is just not exercise it’s an exciting activity which I love. I am very passionate about the sport. For me I find it a very rewarding pastime and an extremely challenging game. As I play the game I wonder, how did the game of golf evolve and who are the people that made the game what it is

    Read More

  • Ford Motor Company

    1840 Words  | 4 Pages

    Hitt, M., Ireland, and Hoskisson, R. (2009).Strategic management: Competitive and Globalization, Concepts and Cases. In M.Staudt & Stranz (Ed).

    Read More

More about Chess Game Essay

Open Document