Strategy for market share

Globally there is a stiff competition in consumer durables. Many giants are trying to expand their share. L.G India has been progessing very much. Thier sales in A/C segment is up by 32.5% and in refrigrator segment sales up by 36%. Now company formulated new global strategy to cater the needs of higher value consumers since purchasing power in metros and big cities has gone up.
The reason for this success can be attributed to thiere strategic planning. A decade ago where japanese techonology was dominating the electronic segments. Today number of other player are in ther fray. As part of their business strategic management customers feed back which is the prime source to improve their installation capacity and providing best service. Branding is another area where their strategy to beat the existing market leaders. As part of HR strategy they have adopted work-life balance so that staff would enjoy working in LG. Leader ship played a vital role in success

Functional strategies

The true success of an organsiation dependsupon effective formulation and implementation of strategies. There is a need to understand the hen and egg dilemma whther strategy follows structure or structure follows strategy. Strategy formulation and implementation depicted on a matrix. A successful of business heavily depend on the perfect strategies. So far all success either in business or profession reveals that strategies that are outlined executed in right spirit. On the other hand bad strategies which are implemented without proper direction yielded bad results.
Some times a bad strategy, but implement in good manner may produce desired results.
Designing sound organsisationa; structure would enable strategist to accomplish the implementation of strategy in a proper way. There are four types of organisational sturcures namely fuctional,divisional,strategic business units and matix resources.
Irrespective any the nature of the business and size there exists the structure. Structure facilitates the organisation to implement the strategies which were formulated to achive the business objecives.

Strategic approach

Human behaviour is such that it tends to imitate. It would be better to place a successful person photo graph or a inspiring quotation can be placed in front of your table or drawing room. Strategy is to gain confidence as well as stimulate to achieve self goals.