Strategy and key discourses Essay Example | Topics and Well Written Essays - 2750 words

Strategy and key discourses - Essay Example A well-deciphered strategic initiative can facilitate an organisation in ascertaining its supremacy and gaining significant competitive advantage in the marketplace. The overall direction of a business entity is largely dependent on the decisions and strategies taken by the company. Strategies are also crucial in responding successfully to the uncertainties, complexities and competitiveness prevailing in the business market scenario. Different companies have their own set of rules and methods to create strategies for their business. Moreover, the formation of strategic initiatives significantly depends on the core competencies of an organisation (John et al., 1996). The paper aims at constructing an essay plan based on the key discourses concerning the illustration in detail the different horizons for making strategies. It would also provide an elaborative explanation of the different levels of strategy. Discourse Analysis Discourse analysis is a research method. It is a mode of appr oaching and making an assessment of a particular problem. This method is neither a qualitative nor a quantitative move to research but is a conduct of questioning the basic hypothesis of quantitative as well as qualitative approaches in the research process (The University of Texas at Austin, n.d.). Three Horizons for Strategy Different companies all over the world now-a-days are very much focused on enhancing their profitability of their business operations. Owing to this reason, they aim to develop various distinctive strategies. The process of developing a strategy involves a particular framework, i.e. the ‘three horizons for strategy’. The significance of a long-term-based viewpoint upon the formulated strategies is emphasised by the three horizons framework. The three horizon framework suggests that each and every organisation should visualise itself as comprising three different kinds of business or activity (Johnson & et. al., 2010). The three horizons framework is exemplified below: Horizon 1 This horizon involves â€Å"Short Jump† initiative that would strengthen and expand a company’s position in the existing market. In this step, the company essentially focuses on adding new products to its existing product line. This step also engages the expansion of the company in terms of geographical area and reaching fresh marketplaces where it is yet to have its presence. In this approach, the company can capture a significant portion of the market share of its competitors. The main objective of this horizon is to capitalise largely on its growth potential in the present business market (Thompson et al., 2006). Horizon 2 This step of the horizon is called the medium jump. In this step, the company acquires strategic proposals to influence the present resources and potentials by entering into a new business with a considerable prospective of growth. The companies in the modern-day context need to always be aware of emerging opportuni ties in the market. Whenever there is a prospect where there is an assurance for rapid growth with the incorporation of enormous prevailing experience and rational capital influx and technological knowledge that could be helpful for rapid market access, the company should jump in to leverage that prospect with full strength. When the second demarcated horizon takes a restrain, the first horizon takes the initiative as long as there is enough unexploited growth present in the company’s business perspective (Thompson et al., 2006). Horizon 3 This step is called long jump. In this horizon, the company takes strategic decisions to