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Adaptation Strategies

Describe about the Strategy Development for Providing the Desired Profits.

Strategies play the most vital in providing the desired profits to a particular enterprise. The ‘AAA’ framework is considered as the general broad overview or the skeleton of a company, which is supported by the guidelines to achieve a specific objective and acts as a guide, which can be modified as per the demand of the time by either adding or deleting the requirements. It acts as a support system that helps the business to expand itself into something demandable (Ahmed, Nawaz, Ali, & Islam, 2015). The companies generally set up and follow these triple ‘AAA’ strategies in order to acquire a position in the market and make a profit for the sections and be sustainable in this competitive market.  The AAA framework helps a business to keep the organization in rhythm and get the best out of it. The company following the AAA strategies will make sure to run itself long in the prevalent competitive market.

Adaptation strategies are needed to generate market revenue by taking up some important components within a business framework for a company so that it can be used by various companies and suffice local requirements and preferences. This is one of the most widely used strategies in the group. In order to penetrate a new market segment, a company follows practices and measures which are favored by the local people (Bleavins, 2010). This helps the business to get easily accepted by the customers. Adaptation is generally done by creating global value change in company's offer to accomplish the local requirements and is most widely used as a global strategy. Adaptation is generally divided into 5 segments:

Variation: It is the changing of services and products and makes adjustments to various policies, expectation for success and business positioning. 

Focus: It generally keeps a look on a particular product, vertical phases of the value chain, geographies and also on the market segment as a method to reduce the impact of variation in various regions.

Externalization: It is usually the transfer through strategic alliances, user adaptation, networking, and franchising. 

Design: This section is followed in order to be more flexible and easily overcome the supply difference.

Innovation: This feature is added to increase the effectiveness of adaptation efforts.

The aggregation strategy seeks on achieving the economics based on scope and scale, by creating global efficiencies. This factor involves standardization of various parts and its value involved for the proposition and it leads to the assemblage of development and production process (Choudhry, 2010). In order to create a substantial advantage of cost centralizing the purchase of various raw materials and the end to end production of materials etc, where the cost incurred in labor is less in few places, and also some globalized organizations aggregation strategies instead of adaptation. The avenue does not depend on geographic aggregation for the future generation, of economies based on scope or scale. The main objective of the company is to exploit the similar factors that affect the market section of the society.  The various known geographic parameters include, C- Cultural; A-administrative; G-Geographic; E-Economic, are also considered as important factors (Fabozzi & Markowitz, 2011). There are factors like corporate diplomacy which can easily be approached through ignoring the presence of homogenization and being very probable to any flashback. Such strategies applied in a business makes the business earn a profit and also sustainable in the competitive market (Hall, 2014).

Aggregation Strategies

This strategy does not include bridging the various markets nor taking up the features of the local demand. Besides, these factors inculcate the strategies of creating value globally, by splitting the markets within, generally making a profit by the margin with the difference in various supply chain's sections in various places (Hall, 2014). A person willing to make the profit can buy things at the cheap rate and sell it at a high price in some other place. Bargaining power is considered to be the added advantage in few of the cases. At times, a definite place is famous for some concepts, products and other basic entities (Harrison, 2011). The fact about the bargaining of products could be leveraged, and particular product and place can be used to make proper revenue, by establishing the market where the product demand remains high (Holloman & Adeyeri, 2012). Thus, this factor also takes into consideration about the CAGE strategies into consideration.

Food / Beverage industry

ICT industry

Adaptation

McDonald corporation 

Pizza hut

Telstra corporation

Optus Aggregation

Arbitrage

McDonalds Corporation 

McDonald Corporation is solitary of the top most fast food outlets with its branches all over the globe. The company has it’s headquartered in Oak Brook, Illinois, US and was developed in the year 1954. Big organizations take up factors that would make them a brand in the society and could spread it worldwide. Various companies need various factors to take up into practice so that they can satisfy their customers (International development policy, 2011). In the same manner, McDonalds has taken up the new recipe for the company, suiting the needs of various customers in various countries. This helps the company to survey the market and fulfill the demands. This makes the organization customer friendly and stays long in the competitive market. With the method of adaptation, a company can adapt itself to the different environment and satisfy the needs of the targeted audience. The other factor is the aggregation plans which stressing on reaching the target which is based on scope and scale, by creating global proficient factors (Jones & Silverstein, 2009). This factor involves standardization of various parts and its value involved for the proposition and it leads to the assemblage of development and production process. By following the aggregation strategy, the business can develop itself by keeping a check on the cost of the production and the raw materials used for the organization. Last but not the least arbitrage is a factor that not only targets the local market but surveys the value of the product globally and produces foods that are choice able to all the customers around.

Arbitrage Strategies

Pizza hut is a fast food cuisine with products like pasta and pizza as well as desserts .It’s one of the fastest growing fast food chain in pizza and pasta. Every company takes up the following strategies that make them spread worldwide and gather customers as required. 

If the company takes up the adaptation strategy for itself, it will help the company to take up choices from the society and gather knowledge about their liking a produce food that is liked by the customers within affordable prices. It takes the company to make a survey of the local people and change and adapt to their needs. The aggregation policy plans on targeting the economics that is depended on scope and scale, by developing proper global efficacies. This aggregation strategy involves consistency of a variety of parts and its worth concerned for proposal and it leads to the grouping of expansion and invention process. The avenue earned by the company does not rely on geographic aggregation for the future generation, of economies based on scope or scale. Pizza hut is a well-known company all over the world (Kahn, Kay, Slotegraaf, & Uban, 2013). If the Company follows the arbitrage strategy to promote itself, then it will not only modify the outlook of its targeted customers but also attract more customers towards the company.

Telstra Corporation

Telstra is one of the largest media and Telecommunication Company in Australia. The company is involved in operating and building telecommunication network, irrespective of marketing voice, data, mobile, pay television service and other entertainment related products (Telstra, 2016). The company continuously undergoes changes and is flexible to variations. By adopting the adaptation strategy in its workflow, a company can make the organization stay in business for long. As adapting the various changing situation would help the company to satisfy the need of the current market and the present generation and satisfy the customers and even the employees in the workstation without falling out of generation (Morrissey, 2010). The company was started as a postmaster’s general department and has shifted itself to a privatized company.  This feature takes into consideration of regularity of a variety of sections and its value occupied for a scheme and it leads to the assembling of advancement and manufacture process. When a company needs to develop substantial advantage of price centralizing, then the purchase of a range of raw equipment and the completion of materials cost is taken into consideration, where the price incurred in work is not much in places where the work is done. Apart from all these factor arbitrage is the most important factor that takes the following into consideration (Office, 2009). The factor includes the strategies of developing value internationally, by dividing the markets within itself, normally building a revenue by the edge with the disparity in an assortment of  supply chain’s sections in a variety of places. The company can buy its raw materials or needed products from markets which provide them at a nominal price and build the product into a service and provide to its customers who are in need of it and satisfy their wants accordingly. Adopting these strategies will make an organization grow in the market and stay for a long and become an important part in the lives of human beings.

Explanation of ‘AAA’ framework in different industries

Optus is considered as the second largest Telecommunication company in Australia and has a brand spanking and especially deals with virgin mobile on the factors depending on mobile telephony. The company has its own network infrastructure and provides service through its own domain (Okumus, Altinay, & Chathoth, 2010). The company provides both retail and wholesale services to the community. Therefore the company depends on the AAA framework for more modification and promotion of the company.

Adaptation strategies are desirable to produce market income by captivating some significant workings within a commerce framework for a corporation so that it can be used by a range of organizations and be sufficient for local necessities and preferences. This strategy is considered as one of the majorities among the strategies that are used in the group ("Special Issue of Strategic Organization: "Strategic Management Theory and Universities", 2015). Adaptation strategy will not only make the company familiar to its customers but also give a new place in the market segment apart from the other. If a corporation expects to break in a new market segment, a company follows practices and measures which are favored by the local people. The aggregation strategy stressing on completing the economics based on scope and scale, by developing global solutions for the customers. This factor includes standardization of various parts and its value involved for a proposition and it leads to the assemblage of development and production process ("Stroke: latest treatment options in acute management", 2015). The aggregation strategy gives a notice on the economics part of the company where one can earn lot more through proper execution and look over the company’s overview work. The company needs to follow the strategies so that it can develop more customers for it as it will make the business grow drastically and earn a profit for the company. Even the strategy makes the business worth for the employees as they can work under peace and deliver the best output. Adopting the AAA framework will help a company to move long and with proper quality and fame in the market.

Conclusion

An organization needs to follow the stated strategies that will help the company to win the market and stay for long and work sustainably. The AAA framework will not only design the framework for the company but also following the modes will help one to gather customers for a longer period a target the whole society irrespective of any sections. Following the AAA framework will help the company to enlarge itself and even the working environment will be healthy where everyone can work in peace and deliver the best out of it.

References

Ahmed, I., Nawaz, M., Ali, G., & Islam, T. (2015). Perceived organizational support and its outcomes. Management Research Review, 38(6), 627-639. https://dx.doi.org/10.1108/mrr-09-2013-0220

Blevins, M. (2010). Biomarkers in drug development. Hoboken, N.J.: John Wiley & Sons.

Choudhry, M. (2010). Capital market instruments. Basingstoke: Palgrave Macmillan.

Fabozzi, F. & Markowitz, H. (2011). The theory and practice of investment management. Hoboken, N.J.: John Wiley & Sons.

Hall, M. (2014). Disingenuous: The Latest Legal Challenges to Insurance Market Reforms.Hastings Center Report, 44(5), 6-7. https://dx.doi.org/10.1002/hast.349

Harrison, D. (2011). How the latest mental health strategy can guide practice. Nurs Residential Care, 13(7), 341-344. https://dx.doi.org/10.12968/nrec.2011.13.7.341

Holloman, C. & Adeyeri, E. (2012). The social media MBA. Chichester, West Sussex, U.K.: Wiley.

International development policy. (2011). Houndmills, Basingstoke, Hampshire.

Jones, S. & Silverstein, B. (2009). Business-to-business internet marketing. Gulf Breeze, FL: Maximum Press.

Kahn, K., Kay, S., Slotegraaf, R., & Uban, S. (2013). The PDMA handbook of new product development. Hoboken, N.J.: Wiley.

Morrissey, L. (2010). Latest literature on new economies, social economies. Development,53(3), 433-435. https://dx.doi.org/10.1057/dev.2010.49

Office, I. (2009). Key Indicators of the Labour Market (KILM). Geneva: International Labour Office.

Okumus, F., Altinay, L., & Chathoth, P. (2010). Strategic management for hospitality and tourism. Amsterdam: Butterworth-Heinemann.

Special Issue of Strategic Organization: "Strategic Management Theory and Universities". (2015). Strategic Organization, 13(4), 365-367. https://dx.doi.org/10.1177/1476127015616707

Stroke: latest treatment options in acute management. (2015). The Pharmaceutical Journal. https://dx.doi.org/10.1211/pj.2015.20068513

Telstra, T. (2016). Retrieved 10 September 2016, from https://www.telstra.com.au/

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