Strategy Essay Example | Topics and Well Written Essays - 1750 words

Strategy - Essay Example For example, a study of "sport consumers" requires response that explains reasons that influence their behavior, and how to get better their behavioral propensity to remain loyal consumers. on the contrary, research on "sport customers" demands results of how to build upon their product knowledge, formulate or change their predilections for a product, and as a result determines how to make the sport product fits their predictable value, personality, and life style. Not all firms in an industry have the same critical success factors in a specific industry.A firm's existing position in the industry where it is next of kin to other competitors in the industry and also the market leader its strategy, its resources and capabilities For example, in 2005 Caterpillar determined a new strategy to aggressively grow revenues over the continuing. As part of that new strategy, Caterpillar described several critical success factors specific to the firm which are the following: Other firms in Caterpillar's industry may or may not have the same factors, and are not likely to have the same complete situation that is why strategies are different practicing in different industries. The strategy of any industry is made by the higher officials of the industry. The reason behind this that why the strategy of the different industries are different Is that all the above mentioned factors are the responsible for it. By difference among these factors, strategies became changed. EXAMPLE OF SAUDI TELECOM Saudi Telecom Company (STC) is the largest service bringer operating both mobile and fixed line businesses in