Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

match the Miles and Snow Typology categories to their descriptions. Prospector Strategy Defender Strategy C . v v Analyzer Strategy D . v v Reactor

match the Miles and Snow Typology categories to their descriptions.
Prospector Strategy
Defender Strategy
C.vv Analyzer Strategy
D.vv Reactor Strategy
A. Concerned with stability and possibly even retrenchment. Firms using this strategy seek to hold onto current customers. They are concerned with internal efficiency and control which are used to produce reliable, high=quality products for steady customers.
B. Firms using this strategy try to maintain a stable business while innovating on the periphery. Some products are targeted at stable environments and current customers and others target potential new customers in dynamic environments in which growth is possible. The company using this strategy tries to balance efficiency in the production of current products with innovation in the new product/market areas.
C. Involves innovating, taking risks, seeking out new opportunities and growth. Suited for a dynamic, growing environment in which creativity is more important to success than efficiency.
D. This is not really considered a strategy at all. Companies taking this approach respond to threats and opportunities in an ad hoc (in the moment) fashion. Though some companies have managed to be successful with this strategy, others have failed because of their lack of long-term or in-depth strategic planning.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Research Methods

Authors: Emma Bell, Bill Harley, Alan Bryman

5th Edition

0198809875, 9780198809876

More Books

Students also viewed these General Management questions