UofP - MBA580 - Individual Assignment - Week Four - 09-23-06

UofP - MBA580 - Individual Assignment - Week Four -...

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Strategic Issues 1 Strategic Issues: Generic and Competitive Benchmarking Robert Sikes, MBA580 University of Phoenix September 23, 2006
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Strategic Issues 2 Abstract An effective and valuable tool that can assist Stewart Title Company in reaching its strategic objectives is benchmarking. Benchmarking is used by organizations in order to improve performance by identifying successful practices that other organizations have already discovered (University, 2006). Benchmarking allows organizations to compare the performance of their product or processes externally with those of other companies. By applying the best demonstrated practices, organizations can improve upon their own products or processes. This paper will focus on demonstrated strategic thinking about issues similar to Stewart Title Company by (1) identifying different grand strategies from Fidelity National Title Insurance Company, First American, LandAmerica, and Old Republic National Title Insurance Company and (2) adopting them to address issues and opportunities.
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3 Strategic Issues: Generic and Competitive Benchmarking Grand Strategies Grand strategies are comprehensive approaches guiding the major actions designed to achieve long-term objectives (Pearce and Robinson, 2005). These strategies consist of 15 “grand” options: (1) concentrated growth, (2) market development, (3) product development, (4) innovation, (5) horizontal integration, (6) vertical integration, (7) concentric diversification, (8) conglomerate diversification, (9) turnaround, (10) divestiture, (11) liquidation, (12) bankruptcy, (13) joint ventures, (14) strategic alliances, and (15) consortia. Fidelity National Title Insurance Company, First American, LandAmerica, and Old Republic National Title Insurance Company are four companies benchmarked to explore the usage of grand strategies, identifying issues similar to Stewart Title Company, and successful or unsuccessful application of strategies. For example, Stewart Title Company utilizes the following multiple grand strategies: (1) concentrated growth, (2) product development, and (3) horizontal integration. These grand strategies provide basic direction for issue identification, and opportunity (or strategic) actions (Pearce et al., 2005). Focus Company: Stewart Title Company Business Summary Stewart Title Company (Stewart)—child of parent company Stewart Information Services Corporation (STC)—is a real estate information and transaction management company that provides title insurance and related services. At the end of the second quarter 2006, the company was issuing policies through more than 9,000 issuing locations, on homes and other real property located in all 50 states, the District of Columbia, and several foreign countries. Stewart also offers computer-related services and information, as well as mapping products and
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This note was uploaded on 06/12/2011 for the course ETHICS mba taught by Professor Wilkes during the Spring '05 term at University of Phoenix.

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UofP - MBA580 - Individual Assignment - Week Four -...

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