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EFFECTS OF
HYBRID STRATEGY ON ORGANIZATIONAL PERFORMANCE
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
According to
Porter Generic (1980). Low cost and differentiation strategy constitute and
effective strategy in overcoming strong competition and postulated the pursuit
of the hybrid or ‘combination ‘strategies which involves the adoption and
implementation of two strategies at the same time as against the adoption of a
single strategy. (Kim et al., 2004; Spanos et al., 2004). The hybrid’
strategies combine the feature of both low cost and differentiation elements
(Gopalakrishna & Subramanian, 2001; Proff, 2000).
A
combination strategy provides the advantage of viability profitability
.Consequently firms that pursue the hybrid strategy achieve higher performance
than t firms with singular strategy. Pursuit of a differentiation strategy for
low-cost (Yasai-Ardekani & Nystrom, 1996). International Journal of
Business and Management Vol. 7, No. 20; 2012 124
A hybrid
strategy fundamentally seeks to attain differentiation and low price over its
competitor. This is aimed at delivering enhanced benefits to the customers with
low price profitably to provide a margin for reinvestment
The hybrid
strategy facilitates the sale of product at lower prices than the competitor
while at the same time offering higher quality for the product. The hybrid
strategy blends the elements of differentiation and low-cost to offer products
to customers with a competitive edge. (Thompson et. al, 2012). Most consumers
do their purchase of product with high expectations to pay less price for
products with somewhat highly differentiated features. As a result, the hybrid
strategy is considered most suitable to meet this customer expectation. The,
hybrid strategy has become highly essential in the face of global competition
when Compared to the single generic strategy. The hybrid strategy facilitates
the production of products with differentiated features or characteristics that
customers’ value at an additional benefit of low cost compared to competitors'
products.
The implementation
of the hybrid strategy provides multiple sources of competitive advantage which
include economies of scale, customer loyalty) as against the single strategy.
They also
emphasize efficiency in creating value for the customers which enhances
customer loyalty. Example of organizations with the hybrid strategy are IKEA
(differentiate in design + low cost), Toyota (quality - although under pressure
+ price) and Ahold (quality + price). Just competing on price is not good
enough anymore (Learning, D.A., 2010).
1.2 STATEMENT OF THE PROBLEM
Acquaah
& Ardekani (2006) justified that the implementation of a combined
competitive strategy is not only feasible, but will also generate superior
incremental performance over the implementation of single competitive
Strategies.
The implementation of a combined competitive strategy results in multiple
sources of competitive advantage (e.g., economies of scale and brand/customer
loyalty) as compared to advantages gained through pursuit
of single
competitive strategies.As the pressure of international competition has grown,
so too has the demand for hybrid business unit strategies. They combine the
competitive advantages of low costs and differentiation. However some
challenges exist that need to be addressed otherwise the adoption of the hybrid
strategy may result in a colossal loss of investment to the organization. Some
of the envisaged problems include the challenge of managing the hybrid policy
effectively to yield the needed objectives. Managing the hybrid policy without
proper understanding of its workability could lead to confusion. It could also
lead to high expenditure cost in adopting the implementation of two strategies
which the hybrid strategy entails. Other challenges include the efficient
management team to implement the hybrid policy as well as building and
maintaining effective communication network to address issues arising from the
adoption and implementation of the hybrid strategy.
The problem
confronting the research is to appraise the Effects of hybrid strategy on
organizational performance (a case study of nestle Plc.)
1.3 OBJECTIVES OF THE STUDY
To determine
the Effects of hybrid strategy on organizational performance (a case study of
nestle Plc)
1.4 RESEARCH QUESTIONS
What is the
Effects of hybrid strategy on organizational performance (a case study of
nestle Plc)
1.5
SIGNIFICANCE OF THE STUDY
The study
shall appraise the Effects of hybrid strategy on organizational performance (a
case study of nestle Plc)
1.6 RESEARCH HYPOTHESIS
Ho The
Effects of hybrid strategy on organizational performance of nestle Plc is low
Hi The
Effects of hybrid strategy on organizational performance of nestle Plc is high
1.7 SCOPE OF THE STUDY
The study
focuses on the appraisal of the Effects of hybrid strategy on organizational
performance of nestle Plc
1.8 LIMITATIONS OF THE STUDY
The research
was confronted by some constraints including geographical factor and logistics.
1.9 DEFINITION OF TERMS
DIFFERENTIATION
STRATEGY
According to
Pearce & Robinson (2011), The differentiation strategy is adopted as a
competitive measure to provide for product or service differentiation based on
features, performance, or other factors not directly related to cost and price.
The strategy ensures that it is hard for the differences to be copied and
imitated
.Consequently
Firms in developing countries implementing differentiation strategy focus on
several dimensions than on one dimension such as quality, image, innovation,
gain customer loyalty, and level of service, all at the same time (Kim et al.,
2004). Therefore a differentiation strategy may be based on product image,
creating customer loyalty through intensive image and marketing management
(Miller, 1988), and creating products that are dependable, durable, innovative,
and serviceable (Beal & Yasai-Ardekani, 2000).
HYBRID STARTEGY
According to
Porter Generic (1980). Low cost and differentiation strategy constitute and
effective strategy in overcoming strong competition and postulated the pursuit
of the hybrid or ‘combination ‘strategies which involves the adoption and
implementation of two strategies at the same time as against the adoption of a
single strategy.
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