Paper Example on Strategy Selection, implementation, and Evaluation

Various companies have been established to meet the needs of the customer in various ways. SIKA AG is one of these companies that have been based in Switzerland that has developed measures that will ensure that most of the needs of its customers will be met. After conducting the environmental analysis of Sika Company as well as the internal strategic analysis, it is important to develop the strategies that the company will use to help it achieve more success. This report will focus on the strategy selection, implementation as well as evaluation that is associated with SIKA Company.

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Alternative Strategy Generation

Companies have developed various strategies that can be used to help them to grow beyond their level. Most of these strategies have been thoroughly analyzed, and they seem they will help the company to succeed. However, there are times when these strategies may fail, and the company may not meet its objectives that had been set earlier. In order to avoid such situations, it is important to create a set of alternative strategies that will be used in case the ones developed earlier have failed. In this case, various Alternative Strategies can be used for Sika AG Company.

Creation of More Products

The first alternative strategy that may be used for Sika AG is the creation of different products. The creation of different products will help the company to attract more customers. Therefore, in the event, one of the products fails, there are others that the company will benefit from while ensuring there is continued business (Edwards, 2018).

Use of Technology

The second possible alternative strategy that may be used for this company in case the other ones fail is technology. In recent years, it is evident that technology has been slowly evolving. In this case, Sika AG can use different types of technology when undertaking different activities. Therefore, in case one of the features of technology fails, there will be other features that will be used to ensure that the company continues to meet its goals and objectives.

Less Dependence on the Market Segment

The third alternative strategy that may be used by this company is not relying too much on the market segment. At times, the market segment that the business may be focused on may experience a reduction in the rates of business (Baumgartner & Rauter, 2017). In this case, Sika AG must focus on another market segment so that in case one crashes, there will be another one to help it continue with the business.

Cultural and Organizational Factors that should be considered

In the development of alternative strategies for the company, certain factors should be considered. In this case, one of the factors that may be considered is the cultural factor. Cultural factors refer to the issues that relate to the lifestyle of individuals as well as their beliefs and values. In this case, the organization should make sure that as it creates new strategies, it should resonate with the culture of different people, especially those who are within its target market. When an activity is following the culture of people, they will be impressed and will help the company to succeed by being part of its customers.

Apart from the cultural factor, organizational factors also play an essential role when developing alternative strategies. One of the organizational factors that may be important while developing an alternative strategy is the goals and objectives (Honggowati, Rahmawati & Aryani, 2017). The goal and objectives of an organization guide the organization toward the direction that it should move to succeed. Therefore, when developing alternative strategies for an organization, measures should be put in place to ensure that they are in line with the goals and objectives of the organization.

The second organizational factor that may be important when developing alternative strategies for the company is government policies. There may be certain government policies that guide how the organization can undertake certain alternative strategies. Therefore, in this case, the company should make sure that while it is developing alternative strategies to help it succeed, government policies should be observed.

The third organizational factor that should be considered when developing alternative policies is the cost of the raw materials. The cost of the raw materials should be considered when developing the new alternative plan so that the organization does not choose a strategy that will be costly to it. In this case, the organization will avoid any possible financial strain.

Strategy Prioritization

After the strategies which are deemed to be the most important for the organization have been developed, it is important to prioritize. Using the SWOT analysis of the company, it is evident that one of its strengths is that it has a strong brand presence among its customers (Honggowati, Rahmawati & Aryani, 2017). The strategy that has the most value should be given an upper hand compared to the others.

Therefore, for this organization, the main strategy that should be given a priority is the development of different products. The creation of new products should be given a priority because it helps the company to have different customers. Therefore, in the case of the products that the company is producing fails to impress the customers, the other products will still provide a channel for the company to gain more revenue.

The second strategy that should follow in being prioritized is not relying only on one market segment. Relying on one market segment may be dangerous because it may reach a time where it may fail. In this case, when a company has majored in various market segments, it will be easy for it continues with operation events after the business is poor in the other market segments.

The strategy that comes last in this loss is the use of technology. Sika has already adopted technology to enhance most of its operations. However, it will be important if modern technology is regularly employed within the company (Honggowati, Rahmawati & Aryani, 2017). In this case, when the old technology fails, modern technology will help to ensure that business continues as usual for the company.

Strategy Selection

Selecting the best strategy should be one of the key things that every company should learn to do. Therefore, several factors can be used to select the best strategy for the company. One of the selection strategies that can be used is based on the outcome (Honggowati, Rahmawati & Aryani, 2017). In this case, the company should select the strategy that would be in more revenue compared to others. Another selection strategy that a company can use is whether it matches with its policies.

Organizations have policies that they have to follow in order to meet their goals and objectives. Therefore, when selecting a strategy, it is important that the organization should ensure it supports its policies. The third way that can be used to select a strategy within the organization is the ease of implementation. There are some strategies that may be difficult to implement, thus undermining the organization's ability to succeed (Honggowati, Rahmawati & Aryani, 2017). Therefore, an organization should first assess whether these strategies may be implemented easily before adopting them to prevent certain challenges in the future (Honggowati, Rahmawati & Aryani, 2017).

Among the strategies that have been identified, few of them may best be compared to the others. Therefore, among the strategies that have been presented, the best strategy is the development of various products. The main objective that this strategy aims to achieve is to gain more customers. Gaining more customers helps a company to make more sales, thus experiencing growth as well as a competitive advantage over its customers (Honggowati, Rahmawati & Aryani, 2017).

This objective is the best in the sense that having different products is important in the sense that it ensures there is diversity. When there are different products that the company offers, there are more customers who will be attracted to it. In case one of the product does not meet their needs, they will have an alternative that they would use to satisfy themselves (Honggowati, Rahmawati & Aryani, 2017). Therefore, in the event the company faces certain problems, and one product fails, there will be other products that the customers will use to, and this prevents the company from falling.

The second-best strategy that can be recommended for this company is technology. Technology has emerged to be an important tool for any organization to carry out its activities (Honggowati, Rahmawati & Aryani, 2017). It is recommended that the company should adopt various forms of technology to carry out its operation. The main objective of this strategy is that since technology keeps on advancing, there new features that are adopted every day (Honggowati, Rahmawati & Aryani, 2017).

Therefore, the presence of new technology within the company will help to ensure that all the operations do not stop in case of a challenge (Honggowati, Rahmawati & Aryani, 2017). An example is the issue is that companies should adopt the use of robots so that in case there is a shortfall of human labor, the robots can perform some of the duties, thus ensuring continuity of business.

Strategy Implementation

After the alternative strategies have been developed, the next step is to ensure that they are implemented to the organization so that the desired goals and objectives can be met (Honggowati, Rahmawati & Aryani, 2017). Therefore, when implementing the strategies, there is a certain procedure that should be followed. The first step of this procedure is communication, as well as align with the objectives.

Communication should be the first step so that all the stakeholders within the organization can be aware of the impending strategies and what needs to be done to meet them (Honggowati, Rahmawati & Aryani, 2017). After the strategy has been communicated to the stakeholders, it is important to ensure that appropriate measures are undertaken to align it with the objectives of the organization.

The second step is to drive accountability, whereby at this stage, the CEO develops goals and objectives related to the strategic plan. In this case, the CEO assigns every member of the company with responsibility. Therefore, the CEO of the company will be able to understand the people who are performing a certain task and will regularly check to ensure that the goals and objectives are being met.

The third step of implementing the strategy is to create focus. In this case, the stakeholders within the company will have been informed of the goals that need to be achieved. Therefore, the focus, as well as the attention of this stakeholder, should be focused on achieving these goals. Therefore, all the activity that they take part in should be geared towards helping the company meets its objectives.

The fourth step that should be followed when implementing alternative strategies for the company is to be action-oriented. Action is indeed more fulfilling than words. In this case, after the focus of the stakeholders within the company has been developed, it is important that every day, every one of them takes part in the specific tasks that at the end of the day, the journey towards meeting the goals and objectives of the company is progressive (Honggowati, Rahmawati & Aryani, 2017).

The last step that should be followed while implementing the strategies in the organization is to track the progress.