Strategic Analysis Corporate Strategy - 1782 Words

Strategic Analysis Corporate Strategy Garmin follows a first mover, differentiation strategy. Through heavy investment in research and development they are able to develop new products that users perceive as more valuable and are willing to pay a premium for. The first mover aspect is most easily observed in their aviation division where they have received numerous awards as well as FAA certifications for being the first to market with new and innovative products (Feather, 2010). Garmin has been able to develop a high quality product while still striking a balance with costs, for their products priced only slightly higher than their competitors. They have been able to achieve this in two ways, heavy investment in RD and acquisitions that have vertically integrated value chain operations. This has allowed the firm to not only be the first to market with new products, but also be able to design manufacturing processes that allows the company to adapt and be dynamic. Garmin uses multi-disciplinary teams including industrial designers, various engineers as well as members from manufacturing operations to develop products allowing them to quickly move from concept to manufacturing. The company has also used a series of acquisitions to vertically integrate itself creating a supply chain that has given it a competitive advantage. Garmin believes manufacturing operation in Shijr, Jhongli and LinKou, Taiwan, Salem, Oregon and Olathe, Kansas is one of its core compete ncies. VerticalShow MoreRelatedStrategic Analysis and Strategic Management900 Words   |  4 Pages Explain why strategic analysis is necessary in the process of developing an appropriate strategy. Identify tools that are available to examine the external environment and discuss how and why they are used. Introduction Strategy is a high level plan in which to achieve one or more goals under conditions of uncertainty. 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