The goal is to have you reflect deeply on what you have learned and experienced in the class. What value did you derive, what lessons did you learn, and/or what realizations did you come to because of

In the TED talk “Strategy as Choice” by Nick Hansen, all the remarkable companies share a common feature that they all have a “near-death experience” in their history. He shows an example of a railway company where everything is going well at first, but later meet a challenge which can be otherwise taken as an opportunity because of spring up of new technology. Although the company has a strong foundation of labour and infrastructure, the railroad company refuses to grow. Eventually, it started to shrink and suffer from recession. He points out that explanatory style is they core of succeed or not at the challenging time, and he explain the concept as the ways these individuals explained the challenge that they face would ultimately determine where they would fall. Seligman and the team of research identified three key components that determines people’s attitude to obstacles. The first is if people were able to see it as temporary or permanent; the second is if the obstacle is local or universal; the third is whether it is changeable or immutable. Using the examples of Edison and Steve Jobs, Hansen argues that people who succeed tend to choose to use positive explanatory style (to think the obstacles are temporary and they can overcome them someday). From the TED talk, I find that the strategies leaders choose at the near-death moment is extremely important. Furthermore, the leaders’ attitudes influence the outcome of the company which are facing challenges and obstacles.

Reference

Hansen, N. (2016, August 4). Strategy as choice [Video file]. Retrieved from https://www.youtube.com/watch?v=lQwHlptnYqk

In “How to Develop a Business Growth Strategy”, Darren Dahl shows the strategies to turn a small business into a big one. He admits that turning a small company into a big one is a difficult thing, but every company start from small ones. He introduces two main strategy to develop a business: intensive growth and integrative growth strategy. He points out that when companies are choosing intensive growth strategy, they should measure the risks and uncertainty they can take. The strategies with different risk levels are market penetration, market development, alternative channels, product development, new products for new customers. In terms of integrative growth strategy, he points out three variables of horizontal, backward and forward strategies. Horizontal strategies mean buying a competing; backward strategies mean buying one of your suppliers as a way to better control your supply chain; and backward strategies means buying component companies that are part of your distribution chain (p.2). I think the strategies to enhance business is very useful for me, if I choose to run my own business some day in the future.

References

Dahl, D. (n.d.). How to develop a business growth strategy. Retrieved from https://www.inc.com/guides/small-business-growth-strategies.html