Posted in Marketing and Strategy Terms, Total Reads: 9660
Definition: Strategic Thrusts Wiseman
The strategic theory of wiseman helps the firm in obtaining the maximum information from the resources of the firm for its competitive advantage.
There are three main parties to the strategic theory of wiseman, including suppliers, competitors and customers. To gain the competitive advantage these parties are combined together to form five kind of organizations. These are:
Differentiation thrust: This helps in focussing on the information that has been left unfulfilled or there is some gap in the expected and provided service.
Cost thrust: this kind of thrust focuses on minimizing the cost and increasing the competitor cost.
Innovation thrust: This kind of thrust focuses on doing something different which includes making new products with differentiating features and specifications.
Growth thrust: This kind of thrust focuses on increasing the horizon of the business that includes increasing volume and market size.
Alliance thrust: This kind of thrust focuses on the mergers and acquisitions for increasing the business and making the firm more competitive.