BUSINESS STUDIES Dissertation Example | Topics and Well Written Essays - 10250 words

BUSINESS STUDIES - Dissertation Example – CONCLUSION AND RECOMMENDATIONS 39 5.1 Conclusion 39 5.2 Recommendations 40 REFERENCE LIST 41 APPENDIX 46 Appendix I – Questionnaire 46 Appendix II – Focus Group Survey 46 CHAPTER I 1.1 Introduction The evolution of strategic thinking has brought genuine revolution in the way business is conducted. Strategy is also considered as a dominant framework through which companies try to determine what they are actually doing and what they intends to do so (Allio and Randall, 2010). Eminent scholars such as Aaby and McGann (1989) defined strategy as the plan or pattern that assimilates the major goals, actions and policies of the organization into a cohesive form. A well-crafted strategy assists organizations to marshal and dispense the resources into a viable and unique posture on the basis of its relative competencies, deficiencies, anticipated environmental changes and the conditional moves by the competitors. In the context of a business, strategy is often regarded as the activities or actions of the organization. This is the reason why the strategy of a company is regarded as the steps taken by organizations in order to stay ahead of the rivals and bring a new set of customers along with keeping the existing customer base (Coombs and Hull, 1998). A business consists of several resources in the form of skills of employees and managers, innovative capacity, as well as its brand image. There are different types of strategy that a company crafts and implements (Michael, Pride and Ferrell, 2007). Some of the notable ones are the business strategy, which is often regarded as the general strategies of a firm that includes the way operations will be carried out, the human resources planning, the service strategy and other business elements; corporate strategy which defines the business of the company as well as the market of the company in which it operates and also encompasses the mission and vision of the organization; competitive strategy, which d efines the strategy adopted by affirm to outplay the rivals and attain a strong position in the market place. Among the different forms of study mentioned above, this study will focus only on the corporate strategies and customer service strategy. A corporate strategy is the way by which organizations determine the best option of deploying the available resources of a firm. On the other hand the customer service strategy is the strategy pursued by firms to deliver services to the customers. This study intends to explore the impact of well-crafted corporate strategy and customer service strategy on the business of blue-chip companies in the high-tech sector. 1.2 Background of the Study