Strategic Issues: Generic and Competitive Benchmarking
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
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