What is strategy?, Strategic Management

Assignment Help:

What Is Strategy?

1. A company's strategy is management's game plan for how to grow up the business, how to attract & please customers, how to compete effectively, how to conduct operations & how to accomplish targeted objectives.

2.  Normally, companies have a wide degree of strategic freedom in choosing the "how" of strategy:-

(I). they can compete in a on its own industry.

(ii) They can diversify narrowly or largely.

3. Markets are typically varied enough to offer competitors enough latitude to avoid look-alike strategies.

4. At company's plan on gaining sales & market share at the expense of competitor, managers lean toward most unpleasant strategy while conventional risk-avoiding companies prefer a sound protection to an aggressive offense.

5. Here, no shortage of opportunity to fashion a strategy that strongly fits a company's own exacting situation & that is discernibly different from the strategies of rivals.

6.  Typically, a company's strategic choice are based partly on trial-and-error organizational learning about what has worked or What has not, partly on management's desire for risk taking & partly on managerial analysis & strategic thinking about how to best proceed, given all the prevailing conditions.

 


Related Discussions:- What is strategy?

Discuss the rationale for tfx company, TFX is a multinational company which...

TFX is a multinational company which manufactures and retails branded designer clothing with business units in a number of different countries globally. Up unless now, each of the

What are the causes of equipment failures, Question 1: (a) What is vi...

Question 1: (a) What is vibration monitoring? Explain, with examples, how can it be useful in industries. (b) Briefly, explain the sources of contaminants which are comm

Strategic planning, advantages and disadvantages of strategic planning

advantages and disadvantages of strategic planning

Describe hopwood’s social controls, Q. Describe Hopwood’s Social controls? ...

Q. Describe Hopwood’s Social controls? Group norms, staff culture and social interaction can control what is acceptable and unacceptable behaviour, it also can determine accept

The strategic management process, what is the greatest takeaway from this c...

what is the greatest takeaway from this case in terms of strategic management

Describe chargeback, A process in the industry where a wholesaler requests ...

A process in the industry where a wholesaler requests an amount that is the difference among the manufacturer's price to the wholesaler and the contract price to the resale custome

Discuss the organizational structure of a restaurant, Question 1: (i) ...

Question 1: (i) In food production, the success of the operation depends on the Executive Chef and his various heads of sections in the main kitchen. What are these sections

Compensation, compensation strategy template

compensation strategy template

Explain operating profit margin - performance ratios, Q. Explain Operating ...

Q. Explain Operating profit margin - performance ratios? Operating profit mar =              (PBIT / Turnover) x 100% This is the ratio of operating profit to sales or turno

Explain zero based budgeting, Q. Explain Zero based budgeting? Zero bas...

Q. Explain Zero based budgeting? Zero based budgeting (ZBB) is a method of budgeting, which requires each cost element within the budget to be specifically justified as though

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd