× Do My Microeconomics Assignment Write My Macroeconomics Assignment Do My Econometrics Assignment Reviews 5/5
  • Order Now
  • Incorporating Real-Life Examples in Your Firm Strategy Assignments

    April 29, 2023
    Elizabeth Green
    Elizabeth Green
    United States of America
    Business Management and Strategy
    With an MBA in Business Management and over 10 years of experience in the industry, Elizabeth is an expert in developing and implementing successful business strategies.

    In today's corporate world, using real-life examples in firm strategy assignments is critical for providing context, generating credibility, and encouraging creativity. We'll address the necessity of using real-life examples, how to do it effectively and present real-life examples of successful implementation from organizations like Amazon, Tesla, Coca-Cola, Starbucks, and Airbnb in this blog. By the end of this essay, you'll have a better knowledge of the advantages of using real-life examples in firm strategy assignments, as well as how they can lead to successful business plans for all economists. If you still get stuck in applying these examples in your assignment don’t fret. We can write your firm structure assignment, inculcating all these examples in your assignment to score highly. Nevertheless, let’s first examine the importance of using real-life examples in your assignments.

    Introduction

    Incorporating real-life examples into your firm strategy assignments can transform your company. They not only add context and relevance to your approach, but they also explain how your recommendations may be put into action. In this blog, we'll look at why using real-world examples is important, how to do it effectively and present some examples of successful implementation.

    Why Is It Important To Include Real-Life Examples?

    It is critical to include real-life examples in your company strategy assignments for various reasons:

    • It adds context and makes your arguments more tangible and relevant to the real world. When you utilize real-life examples, you demonstrate your knowledge of the industry and that you have done your assignment. This can help you establish credibility with your audience, whether it's your lecturer or prospective employers.
    • Real-life examples can spark creativity while also providing a framework for problem-solving. Examining how successful firms have applied tactics in real-world scenarios allows you to learn from their triumphs and failures and apply what you've learned to your work. This can help you establish more successful real-world tactics and solutions.
    • Using real-world examples can help to bring your ideas to life and make them more appealing to your audience. You can help your audience grasp your ideas and make your arguments more powerful by offering examples they can relate to. This is especially crucial in business, where you can be proposing ideas to possible investors or clients.
    • Using real-world examples can help you maintain your work current and relevant. You can demonstrate your knowledge of industry trends and advancements by utilizing examples from current or previous occurrences. This can help you exhibit your knowledge and competence in your sector and increase the value of your work to potential employers or clients.

    Overall, including real-life examples in your company strategy assignments is an effective method to demonstrate your industry knowledge, spark creativity, engage your audience, and stay current and relevant.

    How to Effectively Use Real-Life Examples

    Real-life examples in firm strategy assignments are only successful if done correctly.

    Here are some pointers for properly utilizing real-life examples:

    1. Choose relevant examples - When choosing real-life examples, make sure they are relevant to the sector and situation at hand. This helps to ensure that the example gives significant context and explains how your advice may be put into practice.
    2. Provide extensive analysis – merely showing an example is insufficient. It is critical to provide a thorough explanation of why the example is significant and how it supports your recommendations. This adds credibility to your proposals and ensures that they are well-supported.
    3. Use a variety of examples - Using a variety of examples can help to demonstrate your advice' adaptability. This is especially important if you work in a complex business with several stakeholders and issues.
    4. Use current examples – Using current examples shows that you are current with industry trends and advances. This increases credibility and demonstrates that your recommendations are based on the most up-to-date facts available.

    Real-World Case Studies of Successful Implementation

    Now that we've discussed why and how to effectively incorporate real-life examples, let's look at some real-life examples of successful implementation. In the corporate world, success is not always easy to come by. Creating an effective strategy and successfully implementing it can be a daunting endeavour. Learning from real-life instances of successful implementation, on the other hand, can help you make better decisions in your work. Examining how these organizations overcame hurdles and gained success might teach you useful insights that you can apply to your work. Let's look at some real-world instances of successful implementation and see how you may leverage them to your advantage.

    1. Amazon
    2. Amazon is a perfect example of a company that has adopted a comprehensive business plan successfully. It began as an online bookstore in 1994 and has since grown to become the world's largest online retailer. Customer satisfaction is one of the primary keys to Amazon's success. They place a major emphasis on offering their consumers a convenient and hassle-free online buying experience.

      Amazon has made significant investments in technology and logistics to do this. They have used advanced algorithms to personalize product recommendations based on each customer's browsing and purchasing history. They have also put in place a highly efficient logistics infrastructure that allows them to deliver products to clients swiftly and reliably.

      Amazon has also broadened its product and service offerings to include streaming video, cloud computing, and artificial intelligence. As a result, they have been able to diversify their revenue streams and become a prominent player in several industries.

      Amazon has also made great attempts to lessen its environmental impact. In 2019, they announced ambitions to achieve net-zero carbon emissions by 2040 and invest $100 million in global replanting programmes.

      Overall, Amazon's success may be ascribed to its emphasis on customer satisfaction, investment in technology and logistics, income diversification, and commitment to sustainability. We may gain great lessons about the significance of customer satisfaction, investing in technology and logistics, diversifying revenue streams, and being socially responsible by examining Amazon's successful implementation of its firm strategy.

    3. Tesla
    4. Tesla is an excellent example of a business that has effectively applied a disruptive firm strategy. With their electric automobiles, they have revolutionized the automotive sector and have become a leader in the creation of sustainable energy products.

      Tesla's success can be ascribed to the company's emphasis on innovation, sustainability, and customer pleasure. Their electric vehicles have upended the traditional automotive business, compelling competitors to invest in electric vehicle technologies. Tesla vehicles are noted for their high performance, extended range, and cutting-edge technology such as self-driving capabilities.

      Tesla has also made major investments in environmentally friendly energy items such as solar panels and energy storage devices. They have created creative solutions to aid in the shift to sustainable energy, such as their Power-wall battery storage device, which allows homeowners to store extra solar energy for later use.

      Furthermore, Tesla places a high value on customer satisfaction. They have created a one-of-a-kind purchasing experience for its customers, with showrooms that seem more like high-end electronics stores than standard vehicle dealerships. They have also invested in the development of a highly efficient and user-friendly charging network for their electric vehicles.

      Elon Musk, Tesla's CEO, is also responsible for the company's success. Musk is well-known for his bold ideas and willingness to take risks. He has contributed to the development of an innovative culture at Tesla, where staff are encouraged to think outside the box and take on challenging projects.

      Tesla's success can be ascribed to the company's emphasis on innovation, sustainability, customer satisfaction, and excellent leadership. We may gain great lessons about the value of disruptive thinking, sustainability, customer-centricity, and strong leadership from examining Tesla's successful implementation of its business model.

    5. Coca-Cola
    6. Coca-Cola is an excellent example of a business that has effectively applied a timeless firm strategy. For more than a century, they have been a household name and the world's top maker of non-alcoholic beverages.

      Coca-Cola's success may be traced back to its emphasis on branding, marketing, and distribution. They have established a strong brand image that is recognized and trusted by consumers worldwide. Coca-Cola's advertising campaigns are legendary, with catchphrases like "Taste the Feeling" and "Open Happiness." They have also generated memorable advertising campaigns that have an emotional impact on customers.

      Furthermore, Coca-Cola has a very effective distribution network that allows them to reach consumers in practically every part of the globe. They have formed alliances with local bottling companies, which make and distribute their products on a local level, allowing them to cater to local tastes and preferences.

      Furthermore, Coca-Cola has expanded its product line to encompass a diverse range of beverages, ranging from carbonated soft drinks to juices, teas, and energy drinks. As a result, they have been able to adapt to changing consumer demands and extend their revenue streams.

      Coca-Cola has also made substantial socially conscious efforts. They have introduced sustainable packaging measures, reduced their water usage, and started global community development projects.

      Coca-Cola's overall success can be due to its significant emphasis on branding, marketing, distribution, diversification, and social responsibility. We can gain useful lessons about the value of brand building, marketing, distribution, diversification, and social responsibility by analyzing Coca-Cola's successful implementation of its firm strategy.

    7. Starbucks
    8. Starbucks is an excellent example of a business that has effectively implemented a customer-centric firm strategy. They have established themselves as a global coffee industry leader, known for their high-quality coffee, inviting atmosphere, and great customer service.

      Starbucks' success can be ascribed to the company's significant emphasis on the customer experience. With comfy seats, free Wi-Fi, and a diverse assortment of food and beverages, they have established a distinct and welcoming ambience in their locations. They have also created a highly personalized customer experience, including a loyalty programme with personalized awards and exclusive privileges.

      Starbucks has also made considerable investments in technology to improve the consumer experience. They have created a smartphone ordering and payment system that allows consumers to pre-order and pay for their drinks, lowering in-store wait times. To engage customers and establish brand loyalty, they have also engaged in digital marketing and social media.

      Furthermore, Starbucks places a high value on sustainability and ethical sourcing. To ensure fair trade and sustainable practices, they have introduced sustainable packaging efforts, lowered their carbon footprint, and formed partnerships with coffee growers.

      Starbucks' success can also be attributed to the company's strong corporate culture and employee involvement. They have created an inclusive and diverse culture, as well as staff development programmes that provide possibilities for career advancement and personal improvement.

      Starbucks' overall success can be ascribed to the company's strong focus on customer experience, investment in technology, sustainability and ethical sourcing, strong corporate culture, and staff involvement. We may gain great lessons about the value of customer-centricity, technology, sustainability, corporate culture, and staff engagement by examining Starbucks' successful implementation of its firm strategy.

    9. Airbnb
    10. Airbnb is an excellent example of a business that has effectively applied a disruptive business model. They have transformed the travel business by allowing individuals to rent out their homes and flats to travellers, thereby generating a new type of accommodation that has challenged established hotels.

      The success of Airbnb can be due to its significant emphasis on innovation and client experience. They have created an easy-to-use platform that enables hosts to quickly list their properties and travellers to easily search for and book rooms. They've also put in place a review system that allows visitors to submit feedback on their experiences, fostering a culture of trust and transparency.

      Furthermore, Airbnb has made major technological expenditures to improve the consumer experience. They've created a smartphone app that allows travellers to maintain their reservations and contact with hosts while on the go. They have also invested in artificial intelligence and machine learning to improve travellers' search and booking experiences.

      Furthermore, Airbnb places a high value on sustainability and community building. They have introduced sustainability initiatives, such as a programme encouraging hosts to use environmentally friendly cleaning products. They have also formed alliances with local communities to promote sustainable tourism and help local businesses.

      The success of Airbnb can also be attributed to its excellent leadership and willingness to take chances. They have disrupted the traditional travel business and faced regulatory problems in several countries, but they have remained committed to their aim of creating a new type of travel lodging that is more inexpensive and personalized.

      Overall, the success of Airbnb can be due to its strong focus on innovation, customer experience, technology, sustainability, and community building, as well as good leadership. We may gain great lessons about the value of disruptive thinking, customer-centricity, technology, sustainability, and leadership from examining Airbnb's successful implementation of its business model.

    Final Remarks

    It is critical to include real-life examples in your firm strategy assignments to provide context, develop credibility, and inspire creativity. To effectively incorporate real-life examples, it is necessary to select relevant instances, provide extensive analysis, use a diversity of examples, and use current examples. Real-life implementation examples mentioned in this blog, such as Amazon, Tesla, Coca-Cola, Starbucks, and Airbnb, show how incorporating real-life examples may lead to successful business strategies. You can demonstrate your expertise in the sector and propose practical solutions to real-world challenges by adding real-life examples to your strategy assignments.