Read this essay to learn about the functional strategies of a firm:- 1. Marketing 2. Finance 3. Production 4. Total Quality Management-TQM- Considerations 5. Research and Development 6. Purchasing 7. Human Resources 8. Information Systems Management. 1. Essay on Marketing: Marketing consists of four dimensions or "four P's" price, promotion, product/service, and place (i.e., channels of distribution). The particular generic [...]
Read this essay to learn about the business level or competitive strategy where the emphasis is on developing and implementing strategies in specific business area to gain competitive advantage and build market share. Essay on Business Strategies The concept of industry structure helps a company develop a set of responses that includes: i. Building defences against competitive forces through the [...]
Read this essay to learn about the frameworks that serve as good starting points for developing business strategies. Essay # 1. Porter's Generic Strategies: Michael Porter developed the most commonly cited generic strategy framework. According to Porter's typology a business unit must address two basic competitive concerns. First, managers must determine whether the business unit should focus its efforts on [...]