Business Strategy Research Paper Example | Topics and Well Written Essays - 250 words

Business Strategy - Research Paper Example The paper assesses the company strategy employed at Techno Electronics Ltd during its ten year tenure in business as well as providing recommendations for realizing further success in the international market. Techno Electronics Ltd’s strategies of product innovation and product development are employed via the R&D team which has been spearheading the series production of quality products produced over the past years. At Techno Electronics Ltd, large sums are invested into the manufacturing and R&D team in order to enhance the company’s manufacturing set up, economic sourcing and prototyping of components, product design and development, lean production as well as its total quality management in order to timely deliver quality products as per the customers specifications and or needs (Singer, 2008). The company’s long existence in the market is an indicator of the success of the employed strategies. Techno Electronics Ltd has been able to survive the tough and speedy growing world of technology. According to Kaplan and Norton (2008), the use of advanced technology in the production phase can increase the company’s productivity as well as reduce the cost of production. In addition, Porter (2008) suggests that the human resource strategies the company should take into consideration should involve training of employees in order to increase productivity and gain global competitive advantage as well as cut on the high cost of hiring labor. Other strategies include international marketing communication to market the products as well as build the company’s brand image in the international market (Kà ¶ksal and Ãâ€"zgà ¼l, 2007). Pricing strategies involving high product pricing should be employed to tone down the high production cost. With the continued growth in the use of social networks, the company should use these services as marketing tools for expanding into fre sh markets. Furthermore, online marketing helps build the