Chapter 8 – Conclusion & Perspectives
8.2 Perspectives
Implementation
Following the findings in this thesis the next obvious step is the actual implementation of the strategy. With the increasing complexity all around us, it is crucial to have a structured way of implementing the strategy through considering the timeline, budget, investment assessment, success key metrics, and other important risk factors. There are many
different ways of doing so, and this opens up for continuous research based on this thesis.
Among the tools that can be used are the well-known Balance Scorecard (BSC) or the Lighthouse Model (Jacobsen et al., 2020, p. 140).
The purpose of the Lighthouse Model is to bridge the competitive strategy with the daily operations of the company, and to make the implementation manageable, coherent and easy to communicate throughout the organization. The aim is to be simple and effective.
The BSC is another implementation tool of strategy with the aim of incorporating the strategy through understanding the daily operation, the completed work, and the achieved results. It aims at creating a link between the strategy and the behaviour of every
employee in the organisation, and to make the strategy tangible. The BSC is more complex, and are usually more appropriate for bigger organizations.
87 of 87 For MyLoyal it would probably make sense to use the Lighthouse as it is relatively simple and doesn’t demand as much resources as the BSC.
Growing with funding
For this research, there has not been deep dived into the strategic implications that funding strategy can have on the chosen competitive strategy. Funding can be used to boost the chosen strategy, or maybe choosing a different and more aggressive strategy.
This would be an interesting field of further research.
A world after COVID-19
Finally I have hope and optimism, and known that there is a world after COVID-19. The summer is approaching, and more people are getting vaccinated, Denmark is looking forward to a brighter summer. But the pandemic is still present, and with the globalized world that we live in, as long as countries are struggling, Denmark is still at high risk. It is still also unknown, if the pandemic will continue its rage once the summer is over, or there might come a new mutation, that makes the vaccines ineffective. We don’t know how long it will last, and we don’t know if there will suddenly appear a new virus creating a new pandemic. There is a great amount of unknown variables in our world today, which makes it a challenging world for startups, but also a world with a great amount of opportunities. By applying the strategic analysis that is presented in this thesis, and drawing inspiration from the following discussion of what competitive strategy MyLoyal should follow – The goal is for Danish tech startups to be better positioned at weathering the storm of the pandemic.
How the world will look post-pandemic is up for a discussion, and is an entire field to research in its own.
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