HRM3705
ASSIGNMENT TWO S1&S2
YEAR 2021
, HRM3705 Assignment 2
Due 20 July 2021
1.1
Prospector Strategy - emphasises growth and new opportunities in the market place
through innovation and the development of new products. When an organization falls into
the category of Prospector, they are expected to consistently be on the forefront of
innovation and development. Rather than sitting still with products that have been
previously developed and taken to market, prospecting organizations are always seeking
to create the ‘next big thing’.
Example from case study: and until recently has searched for new markets and new
growth opportunities to grow their success through the development of new products.
1.2
Defender strategy- this is when the organisation’s primary strategy is to protect the
organisation’s existing market share. This is done through low costs achieved through
efficient internal production and tight controls, centralised decision-making and vertical
communication. As the name would indicate, this is an organization that is satisfied with their
current place in the market– and they are going to work hard to defend it as the years go by.
Instead of investing time and money into trying to develop new products to take to the market,
this kind of an organization is going to sit back and reap the rewards of what they have
already created.
Example from case study: After 40 years, the company executives have decided to change
the business strategy to maintain stable growth and to protect is current markets. Due to the
change in their business strategy, Health Innovation must now make many tactical decisions
in various functional areas of the company to support their decision to shift their overall
business strategy.
ASSIGNMENT TWO S1&S2
YEAR 2021
, HRM3705 Assignment 2
Due 20 July 2021
1.1
Prospector Strategy - emphasises growth and new opportunities in the market place
through innovation and the development of new products. When an organization falls into
the category of Prospector, they are expected to consistently be on the forefront of
innovation and development. Rather than sitting still with products that have been
previously developed and taken to market, prospecting organizations are always seeking
to create the ‘next big thing’.
Example from case study: and until recently has searched for new markets and new
growth opportunities to grow their success through the development of new products.
1.2
Defender strategy- this is when the organisation’s primary strategy is to protect the
organisation’s existing market share. This is done through low costs achieved through
efficient internal production and tight controls, centralised decision-making and vertical
communication. As the name would indicate, this is an organization that is satisfied with their
current place in the market– and they are going to work hard to defend it as the years go by.
Instead of investing time and money into trying to develop new products to take to the market,
this kind of an organization is going to sit back and reap the rewards of what they have
already created.
Example from case study: After 40 years, the company executives have decided to change
the business strategy to maintain stable growth and to protect is current markets. Due to the
change in their business strategy, Health Innovation must now make many tactical decisions
in various functional areas of the company to support their decision to shift their overall
business strategy.
