Assignment Instructions/ Description
Article 1
Frequently, a substantial percentage of business strategies are destined for failure.�Hambrick and Fredrickson (2001)�contend that�these failures are the byproduct of businesses not comprehending what�strategies should encapsulate. In light of this,�Hambrick and Fredrickson (2001)�presented a strategic diamond that incorporates�five essential components: venues, vehicles, differentiators, staging, and economic logic, all of which represent what constitutes sound strategies. In a recent article, CNOOC Limited has been in the news coverage following the announcement of its 2023 strategy�(CNOOC Limited Announces,�2023). To enhance its performance and create value for its shareholders, the Chinese oil giant is putting three major projects into action: boosting independent technology innovation and the use of green energy, raising output and augmenting oil reserves, and enhancing quality and efficiency�(CNOOC Limited Announces, 2023). Also, the corporation plans to construct nine new development projects in Brazil, China, and other regions, increasing oil production to 650 to 660 million barrels in 2023�(CNOOC Limited Announces, 2023). To this end, a pressing matter is whether these assertions adequately reflect a strategy�s critical components, as stressed by Hambrick and Fredrickson.��
It is possible to assess whether CNOOC�s strategic vision and Hambrick and Fredrickson�s conceptualization of a strategy align using the various components of the strategic diamond. The first component, arenas, focuses on the areas in which the company will operate, including the range of product categories, core technologies, and aspects of value creation�(Hambrick & Fredrickson, 2001). From CNOOC�s strategy, it is evident that the corporation has defined its focus areas, such as technology innovation and green energy�(CNOOC Limited Announces,�2023); however, these are not specific�(Hambrick & Fredrickson, 2001). The second element, vehicles, highlights how the company will carry out its strategic vision�(Hambrick & Fredrickson, 2001). Although CNOOC strongly emphasizes matters such as expansion initiatives in countries like Brazil, the strategic vision does not define how these will be achieved. Focusing on the differentiators,�Hambrick and Fredrickson (2001)�characterize these as tactics that a business will employ to win over customers. These elements are absent from CNOOC�s strategic vision because it does not explain how the corporation would gain customers through factors such as pricing or service dependability, among others.
Staging is the fourth component of the strategic diamond. This pertains to the timeframe and order of implementing the strategic decisions�(Hambrick & Fredrickson, 2001). While CNOOC has identified several projects it plans to work on, it does not explicitly mention the timing or sequence in which they would be executed. Economic logic is at the core of the strategic diamond, which focuses on how the company generates its returns�(Hambrick & Fredrickson, 2001). While CNOOC has emphasized its desire to increase shareholder wealth, its strategy has not precisely stated how it would extract value from its operations. Generally, the company�s strategy is not articulated consistently with Hambrick and Fredrickson�s conception. The company has only partially included some of the strategic diamond�s components. As a result, its strategy can be considered tactical because it focuses on several individual actions.
Overall, the discourse has extensively analyzed a news article on CNOOC�s strategic plan against�the elements of the strategic diamond. From this, it has become apparent that the strategy adopted by the company is more tactical; while these aspects may be excellent decisions taken as a whole, they do not constitute a strategy. Generally, a critical lesson that comes to light from the analysis is that a strategy involves many different components that must be considered to develop a cohesive whole.
Article 2
As a business owner, you must comprehend how to construct your company and how well it fits with the ideology and vision of your corporation. To the object owner, however, knowing how the product is made, the client�s background, and the broader eco-framework will enable the customer to produce a valuable product and answer their concerns to help your firm earn cash. This essay examines how Hambrick and Fredrickson define strategy and considers if a current news story defines it similarly.
The technique is essential to your daily actions and decision-making, whether you�re a businessperson, developer, or editorial author. The Greek word �Strategos,� which denotes a military leader, is the root of the word �strategy.� Hambrick and Fredrickson assert that to be effective, leaders must be concise, accurate, and thorough when formulating messages and plans. They caution against dedicating your entire budget to technology (Hambrick & Fredrickson 2005). By shoving everything necessary inside a system container, this core idea is quickly undermined.
Pardeep Kumar�s article on strategy, SEO Marketing Techniques for Companies in the Logistics and Transportation Sectors, was published in September 2022. The advantages of SEO for firms involved in transportation and coordinated operations are examined in this piece, along with some steps your association�s SEO could take to generate more income. A few of the systems for organized operations and transportation include growing ties, competition detection, and high content development (Kumar, 2022). I think this article describes strategies similarly to Hambrick and Fredrickson�s because it outlines specific steps the transportation company may take to promote their SEO.
To illustrate how leaders should have basic, obvious techniques for educating the people they lead, Hambrick and Fredrickson use the example of a leader. The news article also displays a method akin to Hambrick and Fredrickson�s because it illustrates a variety of steps a transportation company may use to sell its SEO. As a result, before using the model proposed in Hambrick and Fredrickson�s piece, I admit that it is essential to understand the rationale for its creation.