tailieunhanh - Essentials of Strategic Management 5th Edition_5

Tham khảo tài liệu 'essentials of strategic management 5th edition_5', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 5 STRATEGY FORMULATION SITUATION ANALYSIS AND BUSINESS STRATEGY Midamar Corporation is a family-owned company in Cedar Rapids Iowa which has carved out a growing niche for itself in the world food industry supplying food prepared according to strict religious standards. The company specializes in halal foods which are produced and processed according to Islamic law for sale to Muslims. Why did it focus on this type of food According to owner-founder Bill Aossey It s a big world and you can only specialize in so many places. Although halal foods are not as widely known as kosher foods processed according to Judaic law its market is growing along with Islam the world s fastest-growing religion. Midamar purchases halal-certified meat from Midwestern companies certified to conduct halal processing. Certification requires practicing Muslims schooled in halal processing to slaughter the livestock and to oversee meat and poultry processing. Aossey is a practicing Muslim who did not imagine such a vast market when he founded his business in 1974. People thought it would be a passing fad remarked Aossey. The company has grown to the point where it now exports halal-certified beef lamb and poultry to hotels restaurants and distributors in 30 countries throughout Asia Africa Europe and North America. Its customers include McDonald s Pizza Hut and KFC. McDonald s for example uses Midamar s turkey strips as a bacon-alternative in a breakfast product recently introduced in Singapore. Midamar is successful because its chief executive formulated a strategy designed to give it an advantage in a very competitive industry. It is an example of a differentiation focus competitive strategy in which a company focuses on a particular target market to provide a differentiated product or service. This strategy is one of the business competitive strategies discussed in this chapter. SITUATIONAL SWOT ANALYSIS Strategy formulation is often referred to as strategic planning or long-range .