Case Study Yorkshire Radio Station Example | Topics and Well Written Essays - 1000 words

Yorkshire Radio Station - Case Study Example Strategy has two key dimensions - the resource allocation decision and the development of sustainable competitive advantage. We will confine our dissertation on development of sustainable competitive advantage leaving the resource allocation decisions. 1. Fit to market environment - the primary requirement is the perceived notion of customer for the need of the product or services. The customer looks for competitive advantage, superior value from a product. 3. Efficiency versus effectiveness: Efficiency is internal to the organization whereas effectiveness identifies opportunities to create market. As Peter Drucker says 'Efficiency is doing things right, Effectiveness is doing right things'. Primary focus of the organization should be on effectiveness rather efficiency.... Diversification strategies - Diversification are of four types 1) Forward integration, Backward Integration, concentric diversification and conglometric diversification. Criteria for Strategic success: The following five factors determine the success of a strategy: 1. Fit to market environment - the primary requirement is the perceived notion of customer for the need of the product or services. The customer looks for competitive advantage, superior value from a product. 2. Timing: nothing fails like success - A product or service, which is in vogue today, becomes obsolete tomorrow, hence timing is very important for success of a strategy. 3. Efficiency versus effectiveness: Efficiency is internal to the organization whereas effectiveness identifies opportunities to create market. As Peter Drucker says 'Efficiency is doing things right, Effectiveness is doing right things'. Primary focus of the organization should be on effectiveness rather efficiency. 4. Speed versus decisiveness: Speed is important, companies that are fast to innovate, manufacture and distribute and quick to respond to customer requirements are more successful. But with speed the decisive commitment of resources also is very important. 5. Organizational effectiveness: The organizational effectiveness in its manpower, their commitment to deploy their skills effectively contributes to the organizational effectiveness. Let us analyze the Current situation: Presently Yorkshire Radios station's activities are as follows: 1. Broadcasting Yorkshire sports like Football Rugby, Racing, Cricket 2. Broadcasting music. 3. Main focus is on coverage of Leeds United with exclusive access to the manager, Players and chairman plus full match