STRATEGIC MANAGEMENT

PLEASE I WANT YOU TO PARAPHRASE OR MODIFY THIS QUESTION 3 FOR ME USE YOUR OWN WORDS.. ALSO PLEASE PROVIDE CONCLUSION OF THIS ANSWER...

Question 3 - Corporate level strategies

Mr. Price used corporate level methods. Start off by quickly outlining the goal of business strategies. The company group has implemented numerous business-level strategies in their brands to ensure that the company's operations are sustainable and beneficial in the marketplace, according to Mr. Price's integrated report from 2021. The following tactics are used: For example, Mr. Price's apparel retail company has chosen to focus on growing its current business rather than expanding through acquisition of new companies. They focus more on boosting the trade space by 5percent and increasing the capacity of 50 stores annually. The company intends to implement a sustainable working environment while maximizing its profit margins.

Added brand for the purpose of supplying their products and services to the markets, Mr. Price's fashion and sports businesses have chosen a cash-driven strategy. To preserve their company's profitability and margin, they don't favor credit sales. The business group has chosen to develop a sizable domestic supplier network as part of their distinct strategy in order to exploit the resources of Africa rather than maximize the capacity of global centers. It could improve the domestic retailers' operational capabilities whilst also advancing national growth and extending the life of the company.

Two (2) types of growth strategies

Growth Strategy 1: Strategy as a perspective by acquisition: This has to do with how the organization operates, commonly referred to as the interpretative view. Past approaches, personal experiences, and organizational culture are all adapted to create prospective strategies. It is a result of the knowledge, belief systems, and culture of the people, groups, and management the organization employs. The focus of strategy focuses on the organization as a whole, on the collective mindset of its strategists, and on the company's strategic purpose, resolve, and course. For instance, Mr. Price values innovation and risk-taking among its staff may base its strategy primarily on developing new goods.

Growth Strategy 2: Strategy of Market Penetration and Positioning: This relates to the choice of market positioning; this tactic aids in creating a long-lasting competitive advantage. In order to address consumer needs, strategy takes a position that looks both bearish at the external competitive market and external at the consumer. The outside-in perspective is the primary priority. For instance, the approach could be to place oneself as one of a range of competing companies whilst exploring for methods to differentiated services, or it could be to build a niche segment to prevent competition.

One (1) type of defensive strategy

Investment Strategy in the Market: Mr. Price declared in 2019 that the company would be reevaluating its global strategy and has hired an outside examination of its activities in Nigeria (Buthelezi, 2021). The instability in the West African market was the cause of the departure (Kew, 2020). Additionally, South African businesses have had a tough time operating in Nigeria for a long time due to a variety of factors, such as difficulties with exporting and importing commodities, interruptions in the supply chain, slow economic growth, and difficulties with repatriating money (Mochiko, 2021). Mr. Blair continues by saying that Mr. Price had formerly penetrated international markets organically with no access to infrastructures and localized expertise, and claimed this strategy had "proved strenuous and diverting." He said they were more likely to join markets in the foreseeable future through alliances so they could utilize their substantial financial reserves (Hedley, 2019).