-80%
Solution
According to Negri et al. (2021), in implementing a corporate strategy, people and capital are prioritised. This is for maximising organisation operations through an allocation of resources to organisation and business for ensuring greater good for all. The resources are;
People– Based on strategy scope for assisting Oxy in leveraging on competitive advantage, recruitment of staff having the capacity to run their supply chain in an efficient manner is important. According to CIPS (2021), competitive advantage model (see figure 10), Oxy appropriate positioning to increase efficiency, exploit economy with cost structure reduced.
Figure 10:Competitive advantage sources and scope
Considering Oxy expects to be leveraging on various strategic approach, resourced individuals require to be investing on their employees. This include;
- Employees having appropriate/relevant background in research and development area to be consistent and innovative
- Deliver high-level quality products and services
- Capability to pursue sales and marketing to understand benefits gained
- Employees with ability of improving clients services provision by focusing on groups and feedback opportunity
Information– To develop and implement a corporate strategy, Oxy can focus on investing on Management Information System (Gökalp et al., 2022). This enhance accuracy of information defining management demands for improving effectiveness of making decisions as illustrated in figure 11;
Figure 11:Management Information System Summary
To develop the corporate strategy, Oxy organisation would achieve in improvement of an efficient, influence on spend category and improved suppliers management process. In implementation, their gains would be in improving contract management.
Technology– Primarily, technology has an impact of enhancing the management of complex issues, meeting clients’ needs and transforming their supply chain. In CIPS (2021), this can include cloud computing, machine learning and artificial intelligence all critical for efficiencies improvement. To implement this, costs and availability factors would be appropriately controlled.
Finance– To develop a corporate strategy, financial resources are important to make decisions associated with organisation capital structure and budgetary allocation. To implement this, finances are important for tracking implementation process, source capital for working and all investment decision.
4.1 Stakeholders inclusion in Corporate Strategy
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