The document discusses various aspects of the planning process, including:
1) Planning involves identifying goals and selecting actions to achieve them, while strategy refers to the decisions and actions managers take to reach goals.
2) There are multiple levels and types of planning, from corporate-level plans made by top management down to functional plans by department managers.
3) The planning process involves determining an organization's mission and goals, analyzing strengths/weaknesses, and formulating strategies to achieve objectives over different time horizons.
The document discusses the planning process used by managers. It describes planning as having three main stages: determining the organization's mission and goals, formulating strategies, and implementing strategies. It also discusses different levels of planning (corporate, business, functional) and types of plans. Functional strategies seek to add value through departments like marketing, production, and services in ways that lower costs or differentiate products. The overall planning process allows managers to identify goals and strategies to achieve the organizational mission.
The document discusses cooperative strategies that firms can employ, including strategic alliances. It describes three types of strategic alliances - joint ventures, equity strategic alliances, and non-equity strategic alliances. Firms form strategic alliances to gain access to resources and capabilities they lack, create value, and reduce environmental uncertainty. Alliances allow firms to respond faster to market changes, share R&D costs, and learn new skills. Cooperative strategies are also used at the business level through complementary strategic alliances, which can be vertical or horizontal.
This document summarizes key concepts from Chapter 8 of a textbook on corporate strategy and diversification. It discusses strategic options for diversification, such as broadening scope or retrenching. It also covers evaluating diversification to build shareholder value, potential for synergy, and approaches to diversifying like acquisition or internal development. Additional topics include related vs unrelated diversification, strategic fit, and evaluating an existing diversified company's strategy. The document provides frameworks and considerations for diversification strategy development and evaluation.
SM Lecture Six : Corporate Strategy and DiversificationStratMgt Advisor
This document provides an overview of strategic management concepts related to strategic choices and corporate strategy. It discusses various strategic options companies can pursue, including market penetration, product development, market development, and diversification. It defines related and unrelated diversification strategies and explains potential advantages and disadvantages. The document also covers corporate strategy and the development of corporate portfolios, including through international expansion and divestment of unrelated businesses. Key frameworks discussed include the Ansoff matrix and evaluating potential for synergy through diversification.
Corporate Level Strategy: Creating Value through DiversificationAngelica Angelo Ocon
The document discusses various strategies for corporate-level diversification, including related and unrelated diversification. It explains that related diversification can achieve synergistic benefits through economies of scope and market power by leveraging core competencies and sharing resources and activities across similar businesses. Unrelated diversification seeks to create value through corporate restructuring, parenting, and portfolio management activities provided by the corporate office. The document provides examples of companies that have successfully implemented various diversification strategies and discusses the potential benefits, risks and tradeoffs involved.
This document discusses different business-level strategies that a firm can pursue to gain a competitive advantage, including cost leadership, differentiation, and focus strategies. It defines each strategy and describes the core competencies, customer needs, and actions required to successfully implement each one. The risks and benefits of each individual strategy as well as integrated strategies are also examined. Overall, the document provides an overview of the key considerations and tradeoffs involved in different business-level strategic approaches.
This document discusses business-level strategy, defining it as an integrated set of actions a firm uses to gain a competitive advantage in a specific industry. It outlines the five main business-level strategies - cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation - and discusses the competitive advantages, scope, value chain activities, risks, and relationship to Porter's Five Forces for each strategy. Choosing and implementing the right business-level strategy is important for a firm's success and depends on its internal resources and capabilities as well as external market conditions.
This document discusses building an organization capable of good strategy execution. It addresses three key actions: 1) assembling a strong management team and competent employees, 2) developing resources and capabilities to match the chosen strategy, and 3) creating a strategy-supportive organizational structure. Developing capabilities internally involves strengthening skills, knowledge, and coordination. Capabilities can also be acquired through mergers and acquisitions or collaborative partnerships. The organizational structure should align with the strategy by deciding which activities to perform internally and outsource, delegating authority appropriately, and facilitating external collaboration. Superior strategy execution capabilities can provide competitive advantage.
The document discusses the planning process used by managers. It describes planning as having three main stages: determining the organization's mission and goals, formulating strategies, and implementing strategies. It also discusses different levels of planning (corporate, business, functional) and types of plans. Functional strategies seek to add value through departments like marketing, production, and services in ways that lower costs or differentiate products. The overall planning process allows managers to identify goals and strategies to achieve the organizational mission.
The document discusses cooperative strategies that firms can employ, including strategic alliances. It describes three types of strategic alliances - joint ventures, equity strategic alliances, and non-equity strategic alliances. Firms form strategic alliances to gain access to resources and capabilities they lack, create value, and reduce environmental uncertainty. Alliances allow firms to respond faster to market changes, share R&D costs, and learn new skills. Cooperative strategies are also used at the business level through complementary strategic alliances, which can be vertical or horizontal.
This document summarizes key concepts from Chapter 8 of a textbook on corporate strategy and diversification. It discusses strategic options for diversification, such as broadening scope or retrenching. It also covers evaluating diversification to build shareholder value, potential for synergy, and approaches to diversifying like acquisition or internal development. Additional topics include related vs unrelated diversification, strategic fit, and evaluating an existing diversified company's strategy. The document provides frameworks and considerations for diversification strategy development and evaluation.
SM Lecture Six : Corporate Strategy and DiversificationStratMgt Advisor
This document provides an overview of strategic management concepts related to strategic choices and corporate strategy. It discusses various strategic options companies can pursue, including market penetration, product development, market development, and diversification. It defines related and unrelated diversification strategies and explains potential advantages and disadvantages. The document also covers corporate strategy and the development of corporate portfolios, including through international expansion and divestment of unrelated businesses. Key frameworks discussed include the Ansoff matrix and evaluating potential for synergy through diversification.
Corporate Level Strategy: Creating Value through DiversificationAngelica Angelo Ocon
The document discusses various strategies for corporate-level diversification, including related and unrelated diversification. It explains that related diversification can achieve synergistic benefits through economies of scope and market power by leveraging core competencies and sharing resources and activities across similar businesses. Unrelated diversification seeks to create value through corporate restructuring, parenting, and portfolio management activities provided by the corporate office. The document provides examples of companies that have successfully implemented various diversification strategies and discusses the potential benefits, risks and tradeoffs involved.
This document discusses different business-level strategies that a firm can pursue to gain a competitive advantage, including cost leadership, differentiation, and focus strategies. It defines each strategy and describes the core competencies, customer needs, and actions required to successfully implement each one. The risks and benefits of each individual strategy as well as integrated strategies are also examined. Overall, the document provides an overview of the key considerations and tradeoffs involved in different business-level strategic approaches.
This document discusses business-level strategy, defining it as an integrated set of actions a firm uses to gain a competitive advantage in a specific industry. It outlines the five main business-level strategies - cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation - and discusses the competitive advantages, scope, value chain activities, risks, and relationship to Porter's Five Forces for each strategy. Choosing and implementing the right business-level strategy is important for a firm's success and depends on its internal resources and capabilities as well as external market conditions.
This document discusses building an organization capable of good strategy execution. It addresses three key actions: 1) assembling a strong management team and competent employees, 2) developing resources and capabilities to match the chosen strategy, and 3) creating a strategy-supportive organizational structure. Developing capabilities internally involves strengthening skills, knowledge, and coordination. Capabilities can also be acquired through mergers and acquisitions or collaborative partnerships. The organizational structure should align with the strategy by deciding which activities to perform internally and outsource, delegating authority appropriately, and facilitating external collaboration. Superior strategy execution capabilities can provide competitive advantage.
This document summarizes key points from a chapter on cooperative strategy. It discusses three main types of strategic alliances - joint ventures, equity alliances, and non-equity alliances. Firms use strategic alliances to gain access to new resources and markets, reduce costs and risks, and respond to competition. The chapter also covers business-level cooperative strategies like vertical and horizontal alliances used to improve performance in product markets, as well as corporate-level strategies for diversification.
This document defines strategy and explains why it is important for businesses. It discusses that strategy involves analyzing a company's current situation, vision for the future, and developing an action plan to get there. Strategy is about how a company will attract customers, compete with rivals, position itself in the market, capitalize on opportunities, and achieve its performance goals. Having a strong strategy is important because it specifies the actions a company will take to improve its financial performance, competitive position, and gain a sustainable advantage over rivals. The document also notes that a company's strategy should evolve over time in response to changing market conditions.
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
The document summarizes a chapter on corporate-level strategy from a strategic management textbook. It discusses seven key topics: (1) the definition of corporate-level strategy and different levels of diversification, (2) the three primary reasons firms diversify, (3) how related diversification can create value, (4) how unrelated diversification can also create value, (5) incentives and resources that encourage value-neutral diversification, (6) management motives that can encourage overdiversification and reduce value, and (7) a summary model of the relationship between diversification and firm performance.
The document discusses different types of strategies used in strategic management. It describes corporate strategies, business strategies, and functional strategies. It also outlines various growth, restructuring, global, and e-business strategies. The document then discusses the process of strategic management, including strategy formulation using tools like SWOT analysis, Porter's five forces model, and portfolio analysis. It also covers strategy implementation and the role of strategic leadership.
Corporate strategy and parenting theoryEnzoGorlomi
1) The corporate parent of a multibusiness company exists to add more value to the businesses than they could achieve alone. However, corporate hierarchies also inevitably destroy some value through issues like overhead costs, ill-judged influence from senior managers, and biased information filtering.
2) An effective corporate parent must aim to add more value to the businesses than rival potential parents could, in order to justify its ownership ("parenting advantage"). This should guide corporate-level strategy as competitive advantage guides business strategy.
3) While adding some value is necessary, it is not sufficient justification for a corporate parent's existence - it must optimize the value added to the businesses to outperform potential alternative owners.
Business level strategies help firms position themselves relative to competitors by choosing whether to perform different activities or pursue lower costs or uniqueness. There are five main business level strategies: cost leadership, differentiation, focused low cost, focused differentiation, and integrated strategies. Cost leadership aims for standard products at lowest prices while differentiation focuses on unique product features. Focused strategies target a narrow market segment with either lower costs or differentiation. An integrated strategy combines elements of cost leadership and differentiation.
The document discusses various strategic planning concepts for organizations including the three steps of planning, different types of business-level and corporate-level strategies, and how strategies can provide competitive advantages. It also covers international expansion strategies and how assessing strengths, weaknesses, opportunities, and threats can help formulate effective strategies. The planning process and developing the right strategies are important for organizations to achieve their goals and mission.
This document discusses corporate level strategies, specifically product diversification strategies. It begins with an introduction that defines corporate strategy and strategic planning. It describes the objectives, approaches, and types of product diversification strategies a company can take, such as modifying existing products, adding new products, or targeting new customer groups. The document then discusses different levels of diversification from low to very high. It outlines reasons for diversification including creating value, neutral strategies, and value-reducing strategies. Finally, it covers the importance of diversification in reducing risks and increasing stability, and introduces the concept of portfolio analysis.
This document summarizes key concepts from Chapter 8 of the textbook "Strategic Management: Concepts and Cases 9e" regarding international strategy. It discusses 1) motives for international strategies, 2) benefits, 3) factors determining national advantage, 4) corporate-level strategies, 5) entry modes, 6) outcomes of diversification, and 7) risks. The chapter covers traditional vs emerging motives for internationalization and how firms formulate strategies to enter foreign markets while managing political and economic risks.
Competitive Advantage And Core Competenciespriyanka
The document discusses competitive advantage, core competencies, and various corporate strategies. It provides definitions and concepts related to competitive advantage, core competencies, and strategies such as amalgamation, merger, demerger, slump sale, takeover, disinvestment, joint venture, and franchising. Core competencies are unique skills or expertise that provide competitive advantages and allow companies to access new markets. Effective strategies allow companies to optimize their business portfolio.
The document discusses strategic management in international business. It explains that strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives and increase profits through international expansion. The strategic management process involves scanning the global environment, formulating strategies, implementing changes, and measuring performance. Key ways for firms to increase profitability include acquiring brands, realizing experience curve benefits, achieving location economies, and building core competencies.
Planning involves thinking ahead about what needs to be done, how it will be done, and who will do it. It is a process of selection among alternatives for future actions. Planning occurs at three levels - strategic, tactical, and operational. Strategic planning sets long-term goals, tactical planning focuses on middle management goals to support strategic plans, and operational planning develops short-term action plans at the lower levels. Effective planning involves setting objectives and choosing alternatives to meet goals in a changing environment.
This document outlines various strategic options and levels at which strategies can be formulated, including corporate, business, and functional strategies. It discusses corporate strategies like stability, expansion, and retrenchment. Expansion strategies include concentration, integration, diversification, internationalization, and cooperation. Diversification can be concentric or conglomerate. Retrenchment includes turnaround, divestment, and liquidation strategies. The document also briefly discusses various strategic analysis tools.
This document outlines the five key tasks in developing and executing an effective business strategy:
1. Developing a strategic vision, mission, and core values to guide the company's direction.
2. Setting objectives to measure performance and track progress towards the vision.
3. Crafting a strategy to achieve the objectives and move the company along its strategic course.
4. Executing the strategy efficiently and effectively through actions, motivation, and building capabilities.
5. Monitoring performance, evaluating whether objectives are being met, and making adjustments when needed.
Procter & Gamble pursued a diversification strategy through the acquisition of Gillette in 2005. This aimed to create synergies by combining complementary product lines like toothbrushes and toothpaste that targeted different gender markets. However, integrating the cultures and decision-making processes between the companies proved more difficult than expected. Diversification can create value through economies of scope from related businesses sharing activities or transferring core competencies. But actual synergies are not always realized as planned when integrating acquisitions.
This document outlines a process for management by objectives. It discusses defining a company's value proposition and formulating a vision, mission, and strategic priorities. Divisions then create objectives aligned with priorities and key performance indicators. Individual objectives cascade down as well. Challenges include cultural differences across locations and determining realistic targets. Solutions involve research, leadership commitment, competence development, and incentive structures. Engagement analysis and leadership communication are important for successful implementation. Project milestones include formulating vision and mission, objectives deployment, and status communication.
Managerial motives that are not aligned with shareholder value creation can undermine the potential benefits of diversification strategies. Proper governance and incentives are needed to ensure strategies like mergers, acquisitions, alliances and joint ventures are undertaken to generate true synergies rather than serving other managerial aims.
This document provides an overview of the Foundation simulation. It explains that the simulation allows students to manage a sensor company and make decisions across key business areas like R&D, marketing, production and finance. Students will compete over 8 rounds that represent years, with the goal of improving their balanced scorecard measures of success. The simulation provides an immersive experience of running a business in a growing sensor industry market.
This document summarizes the development of a clinically rich residency program for a Master of Arts in Teaching degree. It describes how the program was designed based on research and best practices to provide teacher candidates with extensive classroom experience through a year-long residency. Survey results from the first year found significant gains in candidates' confidence in their teaching abilities after completing the program. The program faculty will continue evaluating the residency model and revising it based on data and feedback to further improve teacher preparation.
The document analyzes evidence from multiple sources to evaluate the claim that graduates from the MAT teacher preparation program design and teach effective lessons including assessments. Data is presented from the Academic Teaching Skills exam, Teaching and Curriculum final grades, and Clinical Observation Rubric in three cohorts from 2006-2010. Analysis found MAT students scored well above passing averages on the exam and received high marks in the specified COR categories, with higher scores correlating to better grades. It was concluded the evidence supports the initial claim about MAT graduates' pedagogical skills and abilities.
This document summarizes key points from a chapter on cooperative strategy. It discusses three main types of strategic alliances - joint ventures, equity alliances, and non-equity alliances. Firms use strategic alliances to gain access to new resources and markets, reduce costs and risks, and respond to competition. The chapter also covers business-level cooperative strategies like vertical and horizontal alliances used to improve performance in product markets, as well as corporate-level strategies for diversification.
This document defines strategy and explains why it is important for businesses. It discusses that strategy involves analyzing a company's current situation, vision for the future, and developing an action plan to get there. Strategy is about how a company will attract customers, compete with rivals, position itself in the market, capitalize on opportunities, and achieve its performance goals. Having a strong strategy is important because it specifies the actions a company will take to improve its financial performance, competitive position, and gain a sustainable advantage over rivals. The document also notes that a company's strategy should evolve over time in response to changing market conditions.
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
The document summarizes a chapter on corporate-level strategy from a strategic management textbook. It discusses seven key topics: (1) the definition of corporate-level strategy and different levels of diversification, (2) the three primary reasons firms diversify, (3) how related diversification can create value, (4) how unrelated diversification can also create value, (5) incentives and resources that encourage value-neutral diversification, (6) management motives that can encourage overdiversification and reduce value, and (7) a summary model of the relationship between diversification and firm performance.
The document discusses different types of strategies used in strategic management. It describes corporate strategies, business strategies, and functional strategies. It also outlines various growth, restructuring, global, and e-business strategies. The document then discusses the process of strategic management, including strategy formulation using tools like SWOT analysis, Porter's five forces model, and portfolio analysis. It also covers strategy implementation and the role of strategic leadership.
Corporate strategy and parenting theoryEnzoGorlomi
1) The corporate parent of a multibusiness company exists to add more value to the businesses than they could achieve alone. However, corporate hierarchies also inevitably destroy some value through issues like overhead costs, ill-judged influence from senior managers, and biased information filtering.
2) An effective corporate parent must aim to add more value to the businesses than rival potential parents could, in order to justify its ownership ("parenting advantage"). This should guide corporate-level strategy as competitive advantage guides business strategy.
3) While adding some value is necessary, it is not sufficient justification for a corporate parent's existence - it must optimize the value added to the businesses to outperform potential alternative owners.
Business level strategies help firms position themselves relative to competitors by choosing whether to perform different activities or pursue lower costs or uniqueness. There are five main business level strategies: cost leadership, differentiation, focused low cost, focused differentiation, and integrated strategies. Cost leadership aims for standard products at lowest prices while differentiation focuses on unique product features. Focused strategies target a narrow market segment with either lower costs or differentiation. An integrated strategy combines elements of cost leadership and differentiation.
The document discusses various strategic planning concepts for organizations including the three steps of planning, different types of business-level and corporate-level strategies, and how strategies can provide competitive advantages. It also covers international expansion strategies and how assessing strengths, weaknesses, opportunities, and threats can help formulate effective strategies. The planning process and developing the right strategies are important for organizations to achieve their goals and mission.
This document discusses corporate level strategies, specifically product diversification strategies. It begins with an introduction that defines corporate strategy and strategic planning. It describes the objectives, approaches, and types of product diversification strategies a company can take, such as modifying existing products, adding new products, or targeting new customer groups. The document then discusses different levels of diversification from low to very high. It outlines reasons for diversification including creating value, neutral strategies, and value-reducing strategies. Finally, it covers the importance of diversification in reducing risks and increasing stability, and introduces the concept of portfolio analysis.
This document summarizes key concepts from Chapter 8 of the textbook "Strategic Management: Concepts and Cases 9e" regarding international strategy. It discusses 1) motives for international strategies, 2) benefits, 3) factors determining national advantage, 4) corporate-level strategies, 5) entry modes, 6) outcomes of diversification, and 7) risks. The chapter covers traditional vs emerging motives for internationalization and how firms formulate strategies to enter foreign markets while managing political and economic risks.
Competitive Advantage And Core Competenciespriyanka
The document discusses competitive advantage, core competencies, and various corporate strategies. It provides definitions and concepts related to competitive advantage, core competencies, and strategies such as amalgamation, merger, demerger, slump sale, takeover, disinvestment, joint venture, and franchising. Core competencies are unique skills or expertise that provide competitive advantages and allow companies to access new markets. Effective strategies allow companies to optimize their business portfolio.
The document discusses strategic management in international business. It explains that strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives and increase profits through international expansion. The strategic management process involves scanning the global environment, formulating strategies, implementing changes, and measuring performance. Key ways for firms to increase profitability include acquiring brands, realizing experience curve benefits, achieving location economies, and building core competencies.
Planning involves thinking ahead about what needs to be done, how it will be done, and who will do it. It is a process of selection among alternatives for future actions. Planning occurs at three levels - strategic, tactical, and operational. Strategic planning sets long-term goals, tactical planning focuses on middle management goals to support strategic plans, and operational planning develops short-term action plans at the lower levels. Effective planning involves setting objectives and choosing alternatives to meet goals in a changing environment.
This document outlines various strategic options and levels at which strategies can be formulated, including corporate, business, and functional strategies. It discusses corporate strategies like stability, expansion, and retrenchment. Expansion strategies include concentration, integration, diversification, internationalization, and cooperation. Diversification can be concentric or conglomerate. Retrenchment includes turnaround, divestment, and liquidation strategies. The document also briefly discusses various strategic analysis tools.
This document outlines the five key tasks in developing and executing an effective business strategy:
1. Developing a strategic vision, mission, and core values to guide the company's direction.
2. Setting objectives to measure performance and track progress towards the vision.
3. Crafting a strategy to achieve the objectives and move the company along its strategic course.
4. Executing the strategy efficiently and effectively through actions, motivation, and building capabilities.
5. Monitoring performance, evaluating whether objectives are being met, and making adjustments when needed.
Procter & Gamble pursued a diversification strategy through the acquisition of Gillette in 2005. This aimed to create synergies by combining complementary product lines like toothbrushes and toothpaste that targeted different gender markets. However, integrating the cultures and decision-making processes between the companies proved more difficult than expected. Diversification can create value through economies of scope from related businesses sharing activities or transferring core competencies. But actual synergies are not always realized as planned when integrating acquisitions.
This document outlines a process for management by objectives. It discusses defining a company's value proposition and formulating a vision, mission, and strategic priorities. Divisions then create objectives aligned with priorities and key performance indicators. Individual objectives cascade down as well. Challenges include cultural differences across locations and determining realistic targets. Solutions involve research, leadership commitment, competence development, and incentive structures. Engagement analysis and leadership communication are important for successful implementation. Project milestones include formulating vision and mission, objectives deployment, and status communication.
Managerial motives that are not aligned with shareholder value creation can undermine the potential benefits of diversification strategies. Proper governance and incentives are needed to ensure strategies like mergers, acquisitions, alliances and joint ventures are undertaken to generate true synergies rather than serving other managerial aims.
This document provides an overview of the Foundation simulation. It explains that the simulation allows students to manage a sensor company and make decisions across key business areas like R&D, marketing, production and finance. Students will compete over 8 rounds that represent years, with the goal of improving their balanced scorecard measures of success. The simulation provides an immersive experience of running a business in a growing sensor industry market.
This document summarizes the development of a clinically rich residency program for a Master of Arts in Teaching degree. It describes how the program was designed based on research and best practices to provide teacher candidates with extensive classroom experience through a year-long residency. Survey results from the first year found significant gains in candidates' confidence in their teaching abilities after completing the program. The program faculty will continue evaluating the residency model and revising it based on data and feedback to further improve teacher preparation.
The document analyzes evidence from multiple sources to evaluate the claim that graduates from the MAT teacher preparation program design and teach effective lessons including assessments. Data is presented from the Academic Teaching Skills exam, Teaching and Curriculum final grades, and Clinical Observation Rubric in three cohorts from 2006-2010. Analysis found MAT students scored well above passing averages on the exam and received high marks in the specified COR categories, with higher scores correlating to better grades. It was concluded the evidence supports the initial claim about MAT graduates' pedagogical skills and abilities.
The magic of poetry for english language learnersDonnaMahar
The document summarizes how poetry can benefit English language learners. It discusses how poetry uses precise language and engages multiple senses to convey meaning in a condensed form. Several examples of poems are provided and analyzed. The document also explores how performing, reading, and writing poetry can help develop oral language skills, vocabulary, reading fluency, and academic literacy. Suggestions are given for writing activities and establishing a poetry culture in the classroom.
This document discusses the functions and uses of intonation in English. It identifies four main functions: 1) the attitudinal function, where intonation conveys feelings and attitudes; 2) the accentual function, where stress is placed on important words; 3) the grammatical function, where intonation clarifies ambiguous sentences; and 4) the discourse function, where intonation focuses listener attention. It also describes the uses of falling, rising, and falling-rising tones to indicate definiteness, uncertainty, and contrast respectively. Examples are provided to illustrate how intonation conveys meaning.
This document discusses poetry translation. It begins by defining translation and outlining common translation procedures and methods. It then defines poetry translation as relaying poetry into another language while preserving features like sound, syntax, or meaning. The document provides five tips for translating poetry, including staying close to the original poem and understanding the poet. It provides an example translation of a sonnet by Shakespeare into Turkish. It also provides biographical information about poet Paul Laurence Dunbar and an example poem by him with an English to Turkish translation. Famous quotes on the challenges of poetry translation are included at the end.
This document provides an overview of various poetic forms and literary devices, including definitions of poetry, figurative and literal language, theme, diction, imagery, meter, rhyme, stanzas, and forms such as sonnets, limericks, cinquains, diamantes, ballads, and haiku. It also discusses common misconceptions about poetry and elements such as speakers, rhyme schemes, alliteration, and more.
The document summarizes key concepts about planning and strategy from a management textbook chapter. It discusses the three main steps in the planning process: determining the organization's mission and goals, formulating strategy, and implementing strategy. It also describes different levels of planning, types of strategies including business-level strategies and corporate-level strategies, and strategic analysis tools like the five forces framework and SWOT analysis.
Chapter 8
Planning & Strategy
Planning & StrategyPlanning Identify appropriate goals & courses of actionStrategyThe cluster of decisions and actions that managers take to help an organization reach its goals.
Three Steps of Planning Process
Mission & GoalsDefining the BusinessWho are our customers?What customer needs are being satisfied?How are we satisfying customer needs Establishing Major GoalsProvides the organization with a sense of directionStretches the organization to higher levels of performance.Goals must be challenging but realistic with a definite period in which they are to be achieved.
Corporate-LevelPlanTop management’s decisions pertaining to the organization’s mission, overall strategy, and structure.Provides a framework for all other planning.Strategywhich industries and national markets an organization intends to compete.
Business-LevelPlanDivisional managers’ decisions pertaining to divisions long-term goals overall strategy, and structure.Identifies how the business will meet corporate goals.Strategyhow a division intends to compete against its rivals
Functional-LevelPlanFunctional managers’ decisions pertaining to the goals to help the division attain its goals.Functional StrategyA plan that indicates how a function intends to achieve its goals.
Time HorizonsThe intended duration of a plan.Long-term plans are usually 5 years or more.Intermediate-term plans are 1 to 5 years.Short-term plans are less than 1 year.Corporate and business-level goals and strategies require long- and intermediate-term plans.Functional plans focus on short-to intermediate-term plansMost organizations have a rolling planning cycle
Standing PlansUse in programmed decision situationsPolicies are general guides to action.Rules are formal written specific guides to action.Standard operating procedures (SOP) specify an exact series of actions to follow.Single-Use PlansDeveloped for a one-time, nonprogrammed issue.Programs, Projects
Why Planning is ImportantFacilitate participation in decision makingGive organization a sense of purposeHelps coordinate different functions & divisionsServes as a control mechanism
Scenario PlanningContingency plans“What if” analysesMultiple forecasts of potential scenariosPlans to respond to each scenarioNecessary because organizational environments are unpredictable.
Strategy FormulationSWOT AnalysisStrengthsWeaknessesOpportunitiesThreats
The Five Environmental Forces
Competitive Forces
Level of Rivalry
Increased competition results in lower profits.Potential for Entry
Easy entry leads to lower prices and profits.
Power of Suppliers
If there are only a few suppliers of important items, supply costs rise.
Power of Customers
If there are only a few large buyers, they can bargain down prices.
Substitutes
More available substitutes tend to drive down prices and profits.
Corporate-Level StrategiesAimed at growing the company, producing more goods & services, respond to threatsThree ...
This document discusses planning and strategy. It defines planning as formal processes to define goals, strategies, and coordinated plans. Strategic management involves analyzing external and internal environments to identify opportunities and threats, formulating corporate, business unit, and functional strategies, implementing strategies, and evaluating results. The document also discusses various strategic frameworks for the corporate and business levels, including grand strategies, the BCG matrix, Miles and Snow's adaptive strategies, and Porter's competitive strategies.
The document discusses various aspects of planning including purposes of planning, types of plans, factors affecting planning, and contingency planning. It also discusses strategic management including different levels of strategy, the strategic management process, and frameworks for corporate and business level strategies like the BCG matrix, Miles and Snow's adaptive strategies, and Porter's competitive strategies.
1. Planning involves identifying goals and strategies for an organization. It includes corporate, business unit, and functional level plans with time horizons from 1 to more than 5 years.
2. Key aspects of planning include determining the organization's mission and major goals, analyzing the situation to formulate strategies, and implementing strategies by allocating resources and responsibilities.
3. Effective planning provides direction, coordination, and control for an organization. It involves managers at all levels and helps the organization work toward common objectives.
1. Planning involves identifying goals and strategies for an organization. It includes corporate, business unit, and functional level plans with time horizons from 1 to over 5 years.
2. Key aspects of planning include determining the organization's mission and major goals, analyzing the situation to formulate strategies, and implementing strategies by allocating resources and responsibilities.
3. Effective planning provides direction, coordination, and control for an organization. It involves managers at all levels and helps the organization work toward common objectives.
This document discusses strategic planning and management. It defines strategic management as setting decisions and actions to implement strategies that provide a competitive advantage to achieve organizational goals. The strategic management process involves scanning the internal and external environment, formulating strategy, and implementing strategy through changes in leadership, culture, structure, human resources, and information systems. Strategy formulation develops the organization's goals and strategic plan, while strategy implementation uses managerial tools to achieve strategic outcomes.
This document discusses strategic management and various strategic approaches for organizations. It covers topics such as formulating business-level and corporate-level strategies, implementing strategies, and analyzing strengths, weaknesses, opportunities, and threats. Various frameworks for strategic analysis and development are presented, including Porter's generic strategies, the BCG matrix, and the GE business screen. The document also discusses strategies for international expansion, such as multi-domestic, global, and transnational strategies.
International Competitive Strategy
Chapter 9
1
9-2
Learning Objectives
LO 9-1 Explain international strategy, competencies, and international competitive advantage.
LO 9-2 Describe the steps in the global strategic planning process.
LO 9-3 Explain the purpose of mission statements, vision statements, values statements, objectives, quantified goals, and strategies.
LO 9-4 Explain home replication, multidomestic, global, regional, and transnational strategies and when to use them.
LO 9-5 Describe the methods of and new directions in strategic planning.
What is International Strategy?
The way firms make choices about acquiring and using scarce resources in order to achieve their international objectives
Involves decisions that deal with all the various functions, products and regional unit activities of a company.
decisions about which markets to enter with which products, when and how
all the various functions and activities of the company and how they interact
ensuring that strategy is consistent across functions, products, and regional units
a variety of unique demands associated with operating internationally
3
International Strategy
The goal is to achieve and maintain a unique and valuable position both within a nation and globally:
IOW: Have a competitive advantage
Competitive advantage is the ability of a company to have higher rates of profits than its competitors
4
Competitive Advantage
To create a sustainable competitive advantage, a company tries to develop skills and control resources that:
Create value for customers
Are rare
Are difficult to imitate or substitute for
Are organized in a way that the company can fully exploit
5
Competitive Advantage and International Companies
The challenge for international companies is that:
Resources are always scarce.
There are many alternatives for using these scarce resources
(for example, which foreign markets to enter).
These alternatives are not equally attractive.
Could be more costs or other risks involved
Competitive Advantage and International Companies
Managers must make choices regarding what to do, and what not to do, now and over time.
Companies make different choices, which have implications for each company’s ability to meet the needs of customers and create a defensible competitive position internationally.
Without adequate planning, managers are more likely to make decisions that do not make good sense competitively.
9-8
The Competitive Challenge Facing Managers of International Businesses
Managers must
quickly identify and exploit opportunities wherever they occur, domestically and internationally
fully understand why, how, where, and when to do business in specific world markets
know the company’s strategic mission, its strengths and its weaknesses
Global Strategic Planning:
Why Plan Globally?
Provides a means for top management to
Identify opportunities and threats
Formulate strategie.
This chapter discusses long-term objectives and strategies for companies. It describes seven common areas for establishing long-term objectives: profitability, competitive position, employee development, employee relations, technology leadership, and public responsibility. The chapter also discusses balanced scorecards, generic strategies of low-cost leadership and differentiation. It then outlines and provides examples of 15 grand strategies that companies use to achieve long-term objectives, including concentrated growth, market development, product development, innovation, acquisitions, divestiture, liquidation, and joint ventures.
The document discusses strategy formulation in business management. It defines strategy as a systematic plan to achieve future objectives. The key stages in strategy formulation are extensive research and analysis, determining strategic goals and plans, and implementing plans through strategic management. There are three levels of strategy: corporate, business, and operational. The summary effectively captures the main points about defining strategy and outlining the strategy formulation process in 3 sentences.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the current situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the organization's goals.
The document discusses the planning process used by managers. It describes the three stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the situation through tools like SWOT and developing strategies to achieve the mission and goals.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the current situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the organization's goals.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the current situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the organization's goals.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the mission and goals.
The document discusses the planning process used by managers. It describes the three main stages of planning as determining the organization's mission and goals, strategy formulation, and strategy implementation. It also discusses different levels of planning including corporate, business unit, and functional levels. The planning process involves determining the organization's mission, analyzing the situation through tools like SWOT analysis, and developing strategies and plans at different levels to achieve the mission and goals.
Strategy formulation and implementationMahmutAfara
The document discusses strategic management and planning, including defining strategy formulation as establishing goals and plans and strategy implementation as using tools to achieve strategic outcomes. It covers topics such as analyzing organizational strengths and weaknesses, developing grand strategies for growth, stability, or retrenchment, and implementing strategies through leadership, structural design, information and control systems, and human resources. Key models and frameworks are presented for strategic management processes, global corporate strategies, and competitive strategies.
This document discusses strategic management and planning. It defines strategic management as decisions and actions to formulate and implement strategies to achieve organizational goals. It covers strategic planning processes including situation analysis, goal setting, and formulating grand, corporate, business and functional level strategies. Key topics include the BCG matrix, Porter's five forces model, competitive strategies of differentiation, cost leadership and focus. The chapter also addresses strategy implementation and control.
The document discusses the strategic planning process for organizations. It involves 6 main steps: 1) analyzing the situation, 2) generating goals and plans, 3) evaluating goals and plans, 4) selecting goals and plans, 5) implementing goals and plans, and 6) monitoring and controlling performance. Key aspects of strategic planning include developing a mission and vision, analyzing external opportunities/threats and internal strengths/weaknesses, and implementing the strategy while controlling progress.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
If You Want To More Information just Contact Now:
Skype: SEOSMMEARTH
Telegram: @seosmmearth
Gmail: seosmmearth@gmail.com
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesYourLegal Accounting
Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
However, managing finances without an entire accounting staff can be challenging for small businesses.
Accounting apps can help with that! They resemble your private money manager.
They organize all of your transactions automatically as soon as you link them to your corporate bank account. Additionally, they are compatible with your phone, allowing you to monitor your finances from anywhere. Cool, right?
Thus, we’ll be looking at several fantastic accounting apps in this blog that will help you develop your business and save time.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
1. The Nature of the Planning Process
Planning
Identifying and selecting appropriate goals and
courses of action for an organization.
The organizational plan that results from the planning
process details the goals and specifies how managers will
attain those goals.
Strategy
The cluster of decisions and actions that managers
take to help an organization reach its goals.
8-1
2. The Nature of the Planning Process
Mission Statement
A broad declaration of an organization’s
purpose that identifies the organization’s
products and customers and distinguishes
the organization from its competitors.
8-2
5. Levels of Planning
Division – business unit that has its own
set of managers and departments and
competes in a distinct industry
Divisional managers – Managers who
control the various
divisions of an
organization
8-5
6. Levels of Planning
Corporate-Level Plan
Top management’s decisions pertaining to
the organization’s mission, overall strategy,
and structure.
Provides a framework for all other planning.
Corporate-Level Strategy
A plan that indicates in which industries
and national markets an organization
intends to compete.
8-6
7. Levels of Planning
Business-Level Plan:
Divisional managers’ decisions pertaining to
divisions long-term goals overall strategy, and
structure.
Identifies how the business will meet corporate goals.
Business-Level Strategy
A plan that indicates how a division intends to
compete against its rivals in an industry
Shows how the business will compete in market.
8-7
8. Levels of Planning
Function –
department or unit
in which people
have the same skills
or use the same
resources to
perform their jobs
8-8
9. Levels of Planning
Functional-Level Plan
Functional managers’ decisions pertaining
to the goals that they propose to pursue to
help the division attain its business-level
goals.
Functional Strategy
A plan that indicates how a function intends
to achieve its goals.
8-9
10. Who Plans?
Corporate-Level Plans
Plans developed by top management who also are
responsible for approving business- and functional-
level plans for consistency with the corporate plan.
Top managers should seek input on corporate
level issues from all management levels.
Business-Level Plans
Plans developed by divisional managers who also
review functional plans.
Bothmanagement levels should also seek
information from other levels. 8-10
11. Time Horizons of Plans
Time Horizon
The intended duration of a plan.
Long-term plans are usually 5 years or more.
Intermediate-term plans are 1 to 5 years.
Short-term plans are less than 1 year.
Corporate and business-level goals and strategies
require long- and intermediate-term plans.
Functional plans focus on short-to intermediate-
term plans
Most organizations have a rolling planning cycle to
amend plans constantly.
8-11
12. Types of Plans
Standing Plans
Use in programmed decision situations
Policies are general guides to action.
Rules are formal written specific guides to action.
Standard operating procedures (SOP) specify an exact
series of actions to follow.
Single-Use Plans
Developed for a one-time, nonprogrammed issue.
Programs: integrated plans achieving specific goals.
Project: specific action plans to complete programs.
8-12
13. Scenario Planning
Scenario Planning (Contingency Planning)
The generation of multiple forecasts of future
conditions followed by an analysis of how to
effectively respond to those conditions.
Planning seeks predict the future, but the future is
unknowable.
By generating multiple possible “futures,” a firm can see
how its plans might work in each and prepare for the
possible outcomes.
Scenario planning is a learning tool to improve
strategic planning results.
8-13
14. Determining the Organization’s
Mission and Goals
Defining the Business
Who are our customers?
What customer needs are being satisfied?
How are we satisfying customer needs
Establishing Major Goals
Provides the organization with a sense of direction
Stretches the organization to higher levels of
performance.
Goals must be challenging but realistic with a
definite period in which they are to be achieved.
8-14
15. Formulating Strategy
Strategic Formulation
Managers analyze the current situation to develop
strategies for achieving the mission.
SWOT Analysis
A planning exercise in which managers identify:
organizational strengths and weaknesses.
Strengths (e.g., superior marketing skills)
Weaknesses (e.g., outdated production facilities)
external opportunities and threats.
Opportunities (e.g., entry into new related markets).
Threats (increased competition)
8-15
17. The Five Forces
Competitive Forces
Level of Rivalry Increased competition results in lower
profits.
Potential for Entry Easy entry leads to lower prices and profits.
Power of Suppliers If there are only a few suppliers of important
items, supply costs rise.
Power of Customers If there are only a few large buyers, they can
bargain down prices.
Substitutes More available substitutes tend to drive
down prices and profits.
8-17
18. Formulating Corporate-Level
Strategies
Concentration in Single Business
Can become a strong competitor, but can be risky.
Diversification
Related diversification into similar market areas to
build upon existing competencies.
Synergy: two divisions working together perform better
than the sum of their individual performances.
Unrelated diversification is entry into industries
unrelated to current business.
Attempts to build a portfolio of unrelated firms to reduce
risk of single industry; difficulty to manage.
8-18
19. International Expansion
Basic Question:
To what extent do we customize products and
marketing for different national conditions?
Global strategy
Selling the same standardized product and using
the same basic marketing approach in all
countries.
Standardization provides for lower production cost.
Ignores national differences that local competitors can
address to their advantage.
8-19
20. International Expansion
Multi-domestic Strategy
Customizing products and marketing
strategies to specific national conditions.
Helps gain local market share.
Raises production costs.
8-20
21. International Expansion
Exporting – making products at home
and selling them abroad
Importing – selling at home products
that are made abroad
8-21
22. International Expansion
Licensing – allowing a foreign organization
to take charge of manufacturing and
distributing a product in its country in return
for a negotiated fee
Franchising – selling to a foreign
organization the rights to use a brand name
and operating know-how in return for a lump-
sum payment and a share of the profits
8-22
23. International Expansion
Strategic
alliance – managers pool
resources with those of a foreign
company
Organizations agree to share risk and
reward
Joint
venture – strategic alliance among
companies that agree to jointly establish
and share the ownership of a new
business
8-23
24. International Expansion
WhollyOwned Foreign Subsidiary –
managers invest in establishing
production operations in a foreign
country independent of any local direct
involvement
8-24
25. Vertical Integration
A strategy that allows an organization to create
value by producing its own inputs or
distributing its own products.
Backward vertical integration occurs when a firm seeks to
reduce its input costs by producing its own inputs.
Forward vertical integration occurs when a firm distributes
its outputs or products to lower distribution costs and
ensure the quality service to customers.
A fully integrated firm faces the risk of bearing the
full costs of an industry-wide slowdown.
8-25
26. Formulating Business-Level
Strategies
Low-Cost Strategy
Driving the organization’s total costs down below
the total costs of rivals.
Manufacturing at lower costs, reducing waste.
Lower costs than competition means that the low cost
producer can sell for less and still be profitable.
Differentiation
Offering products different from those of
competitors.
Differentiation must be valued by the customer in order for
a producer to charge more for a product.
8-26
27. Formulating Business-Level
Strategies
“Stuck in the Middle”
Attempting to simultaneously pursue
both a low cost strategy and a
differentiation strategy.
Difficult to achieve low cost
with the added costs of
differentiation.
8-27
28. Formulating Business-Level
Strategies
Focused Low-Cost
Serving only one market segment and
being the lowest-cost organization
serving that segment.
Focused Differentiation
Serving only one market segment as
the most differentiated organization
serving that segment.
8-28
29. Functional-level Strategies
A plan that indicates how a function intends to
achieve its goals
Seeks to have each department add value to a
good or service. Marketing, service, and
production functions can all add value to a good or
service through:
Lowering the costs of providing the value in products.
Adding new value to the product by differentiating.
Functional strategies must fit with business level
strategies.
8-29
30. Planning and Implementing
Strategy
1. Allocate implementation responsibility to the
appropriate individuals or groups.
2. Draft detailed action plans for
implementation.
3. Establish a timetable for implementation
4. Allocate appropriate resources
5. Hold specific groups or individuals
responsible for the attainment of corporate,
divisional, and functional goals.
8-30