Please read and try to connect with the response and then continue the conversation to demonstrate insight into the topic, critical and reflective thinking, original ideas, and supporting details and examples when appropriate. Responses should be substantive in nature and not simply "I agree" or "good point".

at least two hundred word response to both questions . IN QUESTION FORM (1. ) (2)]

1. In the article "Resilience in family and nonfamily firms" the author sets out to prove that there is a relationship between manufacturing strategies made up of four dimensions (cost, delivery, flexibility and quality), competitive strategies (like cost leadership or differentiation) and overall firm performance and that these relationships are different for family firms and non family firms. The authors conclusions were based on a study of 122 manufacturing firms in Ghana, a developing economy. I found the article to be very difficult to read and was more confused when I read the conclusion which stated "there was no consistent pattern with regard to the relationships between manufacturing strategy and competitive strategy and between manufacturing strategy and performance, for family and nonfamily firms" (Acquahh, 2011). The authors research did show that family firms are more likely than nonfamily firms to focus on delivery strategies (getting the product to the customer on time or getting the product to the customer faster) with a cost leadership strategy. I was surprised about this finding as I would have assumed that the ability to get the product to the customer on time and or faster than your competitors would be more associated with a differentiation strategy. I also struggled with the importance of this statement as I am not sure what conclusions to draw from the more likely relationship especially when there is no link to performance. I believe that the results may likely be different based on industries and or firm size but that information was not in the research. They also reported that the family firms use manufacturing flexibility to achieve differentiation while nonfamily firms use flexibility to achieve a cost leadership strategy. In the text, the authors suggest that perhaps the best way to enhance differentiation would be to focus "on activities all along the company's value chain and value chain system." (Thompson, 2020) I would assume that a firm pursing a differentiation approach would also focus on product characteristics, customer service, manufacturing quality and the pursuit of continuous improvement throughout as well as many other factors other than just manufacturing flexibility. Overall I struggled with the article as I believe that most firms focus to some extent on all of these manufacturing strategies - cost, flexibility, delivery and quality and to some extent on both cost leadership and some degree of differentiation unless you are manufacturing a commodity. The author's refer to this as a best cost or hybrid strategy and based on my limited experience I believe that all firms more or less focus on both low cost and differentiation. In addition to the research findings being largely inconclusive, the extremely small sample size I believe the type of industry also plays a very important part as to which competitive strategy to focus on and as mentioned a broad focus on the manufacturing strategies and other strategies like sales and marketing and customer service to create value for the customer that drives financial performance as outline by Porters Value Chain

.Reference:

Acquaah, M. (2011). Resilience in family and nonfamily firms [Review ofResilience in family and nonfamily firms].International Journal of Production Research,49(18).

2.

The firm must apply corporate strategy to overcome this situation because the existing strategy and plans are not working efficiently for the firm as they are not earning profit properly so the firm has to change its strategy to overcome this problem. By implementing corporate strategy the firm has to make its goal and objectives different from earlier strategies by implementing strategic management activities. Corporate strategy is a long-term strategy that is clearly defined and provides the direction to the firm goals and objectives. In conclusion, understanding the needs and expectations of key stakeholders is crucial to developing a successful strategy. A strategist who prioritizes stakeholder analysis and engagement in the strategy development process is more likely to achieve organizational goals and improve overall performance.

Reference

Read the article: Acquaah, M., Amoako-Gyampah, K., & Jayaram, J. (2011). Resilience in family and nonfamily firms: an examination of the relationships between manufacturing strategy, competitive strategy, and firm performance.International Journal Of Production Research,49(18), 5527-5544. doi:10.1080/00207543.2011.563834