Generally for any decision making we think so much for reducing risk and unknowns in our decisions in day to day life, i wondered how companies will take decision's for achieving it's mission and vision.
In this regard Mr Kenichi Ohmae, developed a strategic triangle for business decisions. The three elements of the triangle are:
The success of the business is achieved by properly balancing this three elements, if any one of the element is not given sufficient priority then the strategy will go for a toss which ultimately impact the business.
Kellogg's failure in India
Kellogg's is world's leading breakfast cereal manufacturing company hardhearted in USA.
In 1994 Kellogg's entered Indian market with it's iconic brand Corn flakes, this brand was a strategic failure for them. why they failed??
After there intensive market analysis they understood that the traditional Indian breakfast consists of hot served food like Idly, vada, Roti & Puri, etc but the Kellogg corn flakes should be taken with cold milk which is not preferred by Indians. So there is a mission component of customers preferences in their decision making.
As i described above that for any strategic decision making the three C's must be taken into account for success for the decision.
In this regard Mr Kenichi Ohmae, developed a strategic triangle for business decisions. The three elements of the triangle are:
- Customers
- Competitors
- Corporation
(Source:- The Mind of the Strategist by Kenichi Ohmae)
The success of the business is achieved by properly balancing this three elements, if any one of the element is not given sufficient priority then the strategy will go for a toss which ultimately impact the business.
- Customers:- Customers are the ultimate buyers of our products/services, which should appeal to them and the decisions should address the total market in which the company is operating. In further to that, in present day market condition every market is not homogeneous but it is heterogeneous addressing this market is very difficult.
- Competitors:-In a free and open economy, the market place is filled with lot of competitors and we should carefully address them. The strategy what we take should differentiate with the competitors product/service it may be price, packing,functionality, etc...
- Corporation:- The strategic decisions what we make should be aligned to our business mission and vision. These decisions may be functionary inclined and should strength the corporations uniqueness.
Kellogg's failure in India
Kellogg's is world's leading breakfast cereal manufacturing company hardhearted in USA.
In 1994 Kellogg's entered Indian market with it's iconic brand Corn flakes, this brand was a strategic failure for them. why they failed??
After there intensive market analysis they understood that the traditional Indian breakfast consists of hot served food like Idly, vada, Roti & Puri, etc but the Kellogg corn flakes should be taken with cold milk which is not preferred by Indians. So there is a mission component of customers preferences in their decision making.
As i described above that for any strategic decision making the three C's must be taken into account for success for the decision.
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