Explain market cost technology and management synergy

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In strategic management, managers are urged to achieve as much market, cost, technology, and management synergy as possible when making strategically important decisions. This process will completely affect the "bottom line".

Market synergy occurs when one product or service fortifies the sales of one or more others.

Cost synergy comes from using the same overhead costs to produce multiple products or from recycling waste products to create another revenue-producing area.

Technological synergy involves transferring technology from one application to another, thus opening up new markets.

Management synergy occurs when a management team has complementary rather than identical skills. Choose an organization of your choice. In your discussion, explain how each of the four areas of concern above will impact the bottom line of your chosen organization. Please give the name of the organization you choose and if needed use references and sources to support your statements.

Reference no: EM13729957

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