Evaluating Firms’ Performance by Defining Path Finder Strategy

The objective of this research paper is to define and design a “Path finder strategy” adopted by different firms while entering & negotiating at different markets with differentiated products. This paper covers in-depth knowledge relating to formulation of path finder strategies in a new market with new products and assessing whether a firm is a product driven, market driven, customer driven or a firm driven organisation. Innovation process is critical for securing firm’s future position, or even existence, and thus appropriate time and energy should be given to it. Some firms have few important attributes that actually facilitate innovation. Their tenacity & capacity to mitigate risk in a wide business spectrum is significant. They make it both economically and, for the individuals involved, personally easier to break untried ground. This make these firms same as the rest yet differentiated, simple working yet successful. How do firms know when your core needs to change in a fundamental way? How do firms determine the new core should be? A hidden asset is the centrepiece of the new strategy, which evaluates up to which level the firm is successful in finding their next core business. This research paper will also address how firms translate their vision/ mission/ philosophy into operational effectiveness along with their core competencies and charter a new dimension in strategy execution, while bringing about the key characteristics of different firms with different processes, how they position themselves, their performance measurement/ how they acquire customers/ markets etc. The imperative of the research work will attempt in exploring how different firms decode different strategies and how they craft/ create path finder strategy, and it explains how firms give birth, decipher and are steered to different types of innovation that are principal in different firms and to understand the impact of these innovations on performance. What makes them so different yet a very successful & a competitive firm?