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Business Strategies

Anna Kamenska, 6.01.061.020.21.1

What is Business Strategy?


Company strategy is a collective decision or a planning process that helps entrepreneurs accomplish certain business goals.
In order to maintain operations, attract consumers, ensure a strong advantage in the market, and accomplish the firm's goals, the operation of the company simply implements a master plan.


Getting effective
Seeing and taking advantage of chances
Putting resources to use
Obtaining a favorable position
Addressing risks and difficulties
Focusing actions and efforts
Gaining control of the circumstance
A business's approach to attracting consumers, competing successfully, enhancing performance, and achieving organizational objectives is referred to as its business strategy. It describes how operations should be conducted in order to achieve the goals.

Types of Business Strategies

What is a Corporate Strategy?

The corporate (general) strategy determines the general direction of theof the company's activities, namely:


growth strategy - a strategic alternative characterised by goals that far exceed the level of past achievements;
strategy of limited growth (stabilisation) - a strategic alternative characterised by goals that are set at the level of past achievements, adjusted for inflation;
reduction strategy - a strategic alternative characterised by Setting goals that are lower than the level achieved in the past or excluding certain areas of activity.

What is a Competitive Strategy?


A competitive strategy is a generalised model of actions and a set of rules that should guide an enterprise in making decisions to achieve and maintain long-term competitiveness.
The strategy sets a certain framework that allows identifying and assessing changes in the external and internal conditions of the system's development and the needs for its improvement caused by these changes.

What is Functional Strategy?


A functional strategy is a strategy that helps a company determine how to use and manage resources and skills most effectively in each of its areas of activities to achieve its goals.
A functional strategy is a plan for managing the current and core activities of a separate division or a key functional area within a particular business area (R&D, production, marketing, customer service, distribution, finance, human resources, etc.).

What is an Operating strategy?


Operational strategy is a narrower strategy for the main structural units, such as a plant, department (internal functional area), or regional sales office. Measures typical of this level of strategy are the solution of highly specialised issues and problems related to the achievement of the goals of a particular unit. Usually, operational strategies complement and complete the overall business plan of the company.

Growth Strategy


A growth strategy is a set of actions and plans that a company develops to increase its market share by achieving a sustainable and unique advantage in its competitive environment.

Business process components


Business process inputs
Business process outputs
Business process mechanisms
Business process control points


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