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Cango Notes Essay

783 words - 4 pages

Company Notes
* Cangos an online entertainment Co. focused on selling music and books
* Considering branching into online gaming and ebooks
* Liz paasion is reading and musc
* its operations to include CDs, DVDs, and audio and video tapes
* Goal is set on the Internet entertainment market
* CanGo IPO Raises $130 Million in IPO
* CanGo is an online business that e-tails books, music, and movies (CEO)
* CanGo purchased Webjouster, a company whose specialty is online gaming
* Though the company has had a meteoric rise in the e-commerce world and a very successful IPO last spring, its recent advance into online gaming has not generated the level of profits ...view middle of the document...

Many organizations have emergent rather than deliberate strategies. An emergent strategy is one that results not from a formal planning process, but from the social and political interactions of organization members. Consequently, the strategy envisioned by each group involved in planning may not be what ultimately emerges from the process. The composition of the planning team and how they interact is crucial in determining the viability of the strategic management process. Good teamwork inevitably increases the likelihood of successful strategic planning.
An organization's strategy and its planning process indicate the firm's position in the marketplace relative to its competitors. A firm can position itself either through low-cost production (selling the most products for the least amount) or through differentiation (selling a specialized product to a certain target market) and so attempt to carve out a unique position in the market. Some organizations take a very aggressive approach to the market by introducing new products and services (first movers) while others "copy cat" the market leaders (second movers and late-to-market movers). Still others defend their position vigorously, while others merely react to changes in their external environment.
Remember that the most critical element of the strategic management process is the development of a competitive advantage. A competitive advantage is an advantage that earns the firm above average profits and is difficult for competitors to duplicate.
CanGo order for the strategic management process is:
1. CanGo's strategic management process begins with a vision statement.
2. CanGo's next step is to write a mission statement that...

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