According to Business Jargons, there are four strategic alternatives for an organizations grand strategy:
1. Stability strategy
2. Expansion Strategy
3. Retrenchment Strategy
4. Combination strategy
I will discuss the stability strategy which focuses on maintaining its current position and business operations. Usually this strategy is adopted by firms which are a small-scale business. There are three outcomes by this grand strategy:
1. No-change strategy
2. Profit strategy
3. Pause/Proceed with caution strategy
In a way I can see Getinge using certain ideals from the stability strategy with their intra-aortic balloons. This acute therapy product sold by Getinge makes up for approximately 1/3 of their revenue. And for that reason, they don’t want to change the design of their intra-aortic balloons. They want to maintain their profit without having to change the product. They are comfortable with their current position in terms of selling their acute therapy product, intra-aortic balloons, worldwide. The success rate for this product is the reason why it is sold globally at a higher rate than a majority of cardiovascular acute therapy products.
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Coordination