Essay Sample on Expanding a Business Model

There are three typical phenomena in the real-time business world that managers need to take control of to remain competitive in the business world. Hyper competition, hyper turbulence, and hyperlinking are emerging issues that cause management challenges in businesses today with fast-growing technology (Kabir 2017, 23). Notably, companies no longer have to be at their comfort zones, managing their original supplies to customers but also have to feel the confrontation emerging from multiple demands. Moreover, the emerging issues are due to the industrial revolution making businesses both inter and multinational players. The Harvard Business Review case study of Advaar gives an excellent example of a business entity that is in a strategic dilemma for having performed well in a single service venture. I will, therefore, outline two posts that will Advaar a direction on whether to stick to its core competence or go for more. The focus for the posts will be on primary issues the business needs to consider before deciding on whether to stick to its core or go for more and recommendations on the course of action.

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The Primary Issues

In the past few years that Advaar has been in business, it has a history of achieving phenomenal success selling one service well. Unfortunately, customers are demanding more, and therefore the company is getting stuck on its strategic plans on whether to go for more or remain in its core competencies. As a result, there is a significant strategic dilemma that the business needs to get through successfully without losing either its customers or its power in service provision. The company needs to understand that technology is changing the world so rapidly, and diversity is essential (Rahman 2019, 32). Secondly, as much as I would advise Advair to go for more, its strategic plans must change to face the hyper-competition and hyper-turbulence phenomena.

Recommendations

The business needs to understand that the reputation and legacy it created to retain customers must always continue by putting the interest of the customers first. Furthermore, there are turbulences along the way while introducing a new product and service that should prompt it to review the strategies before implementing diversity as required by be customers (Lee and Day 2019, 14). With strategizing again to fit the flexible market, Advair should go ahead and do as per the request of its customers to remain relevant and score more in the different competitive markets.

Conclusion

Advaar's case has two significant challenges that it must strategize upon before going ahead to venture into the diversity that will bring the best out it. As mentioned above, there are critical issues that businesses must consider to make new products and services succeed. For instance, the ideal customers that Advaar already has, competition, media campaigns, and testing; therefore, the business will have to strategize more on how to go through this dilemma successfully.

Reference List

Kabir, N., 2017. The impact of semantic knowledge management system on firms' innovation and competitiveness (Doctoral dissertation, Newcastle University).

Lee, J.Y. and Day, G.S., 2019. Designing customer-centric organization structures: toward the fluid marketing organization. In Handbook on Customer Centricity. Edward Elgar Publishing.

Rahman, U.H.F.B., 2019. Diversity Management and the Role of Leader. Open Economics, 2(1), pp.30-39.