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    Business Strategy

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    1. How can a corporation's life cycle be extended?

    2. What is strategy implementation? What questions must strategy makers consider to begin the implementation process?

    3. What is reengineering? What are the seven principles for reengineering proposed by Michael Hammer? Explain which principle is most important in your opinion.

    4. List the six guidelines proposed for successful downsizing, and explain the importance of each one.

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    https://brainmass.com/business/strategy-and-business-analysis/business-strategy-612237

    Solution Preview

    1. How can a corporation's life cycle be extended?

    At the point when a corporation's life cycle is at the maturation stage, that's when the cycle can be extended. It's not inevitable that a corporation will die, but it can go through a reviving phase sometime between the maturation and decline phase. At this point, the life cycle can be extended by creating managerial and product innovations as a turn-around strategy. Managerial innovation provides a lasting advantage if it challenges the generally accepted theories of management, is systematic, and includes a variety of processes and methods. Product innovations of course includes either new or improved products, inclusion of new materials, or changing materials into desired products.

    2. What is strategy implementation? What questions must strategy makers consider to begin the implementation process?

    Strategy implementation is defined as the process of adopting organizational policies and practices that are consistent with the organization's strategy. There are typically three specific organizational policies and practices that are important in the strategy implementation process and they include: 1) ...

    Solution Summary

    How do businesses stay relevant in today's competitive market? It's through innovation and change that businesses are able to stay one step ahead of the competition. However, the process is not as easy as it sounds and requires a great deal of strategic planning and implementation.

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