Final answer:
Using Apple Inc. as an example, the organization's success can be explained by applying the five major elements of strategy: focusing on specific arenas like consumer electronics, differentiation through innovation and brand, strategic vehicles like partnerships, careful staging and pacing of product releases, and a strong economic logic based on premium pricing.
Step-by-step explanation:
To apply the five major elements of strategy from the Hambrick reading and explain the success, failure, or stagnation of an organization, let's consider Apple Inc. as an example. The five elements include: arenas, differentiators, vehicles, staging and pacing, and economic logic.
Arenas: Apple has consistently focused on consumer electronics and software, which are its main arenas. Its attention to detail and quality in these arenas has contributed to its market leadership.
Differentiators: Innovation and brand reputation serve as key differentiators for Apple. The company's dedication to product design and user experience sets it apart from the competition.
Vehicles: Apple uses both in-house development and strategic partnerships as vehicles to grow its business and technology portfolio.
Staging and pacing: Apple's strategic release of new products and updates exemplifies measured staging and pacing, which helps maintain customer interest and market share.
Economic logic: Apple maintains high-profit margins through premium pricing and a loyal customer base willing to pay for the perceived value and quality of its products.
The integration of these five elements has helped cement Apple's position as a leading tech company and exemplifies its strategic choices contributing to success.