Managing strategy Essay Example | Topics and Well Written Essays - 3250 words

Managing strategy - Essay Example On the other hand, the multi-featured cameras were given a strategy focused on differentiation, with an emphasis on providing high-priced but unique products. This can generally be viewed as a successful strategy because rival companies did not produce such products at such prices, but the marketing could have been improved. Increased competition especially in the entry-level segment demanded more innovation. This was mainly by competitors who manufactured entry-level cameras that offered affordable alternatives. More importantly, environmental concerns from authorities and activists raised the issue of shifting towards clean energy. To survive, the company will be forced to pay more attention to the concerns of environmentalist in order to appeal to consumers in ways that are ahead of competitors. First, this report will present an overview of the photography industry. Then, it will present an analysis of the industry as well as an internal analysis of Company X with a focus on the issues and challenges the company faces from which it will generate strategic growth options. The selected option will then be described in order to clarify its suitability to the company. This section will provide for the understanding of where the industry is heading by giving an insight of the trends and challenges it faces globally. Although Company X is not directly involved with taking photographs since it is not a studio, it is directly affected by trends of the industry because it supplies the key elements of the industry. The industry is agreeably undergoing a lot of change especially in the digital age, where mobile phones, tablets and other mobile devices are creating a new trend with their high resolution cameras. Essentially, this means that selling cameras (and consequentially taking photographs) is not an easy way to earn a living and needs