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Strategic Choice and Evaluation Paper: Barnes and Nobles - Essay Example
Author : medhurstbarney
Pages 6 (1506 words)
Barnes and Nobles is a great company that has enjoyed tremendous success in the book industry. The firm as of 2010 was the market leader in the industry with over $7 billion in revenues in an industry that generates approximately $24 billion in revenues each year…
Barnes and Nobles has a lot of good things going for the company including a variety of over 2 billion books and e-books. The firm has done a good job of combining the traditional physical book store operation with its online offering. The firm also had the foresight to diversify into other product lines including toys, video games, and movies. Despite the good things the company has going for itself it is imperative for the managers of the company to implement a new strategy to ensure the long term success of the company. The firm has to consider all strategic options including value disciplines, generic strategies, and grand strategies in order to find the optimal solution for the company. Valued Discipline The three main value disciplines available to marketers are operational excellence, customer intimacy, and product leadership. The operation excellence strategy entails improving the operation of the company in order to achieve world class results. This strategy is better suited for implementation for companies in the manufacturing sector. A company that achieved tremendous results using operation excellence is the Japanese auto maker Toyota. The use of operation excellence allowed Toyota to become the market leader in its industry. Barnes and Nobles on the other hand runs a bookstore. ...