Sample Essay
‘Strategy is the direction and scope of an organization over the long term: which achieves advantages for the organizations through it configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholders’ expectations.’( Tutor2U, 2009)
The case analyzes how external pressures forced Merck to reevaluate its business strategy and how they managed to evolve and actually implement a strategy which would bring them long term success and success and enable it to see through economic downturns like the one affecting the global economy at the moment. Basically, their focus was on implementing policies which would make their organization more flexible and also leaner (Johnson and Nisita, 2009). The example of a company from the pharmaceutical sector is extremely appropriate since that industry is struggling with problems beyond those attributable to the downturn. The following questions allow us to analyze the Merck strategy and discuss the main challenges faced by it in the implementation of a new strategy and also discuss the application of strategy development and implementation with respect to a Kuwaiti company.
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