There are at least top six competitors (shown below) against which a business requires advantage. The competitors are:- 1. Direct Competitors 2. Suppliers 3. Buyers 4. New Entrants 5. Product Substitutes 6. Government Agencies. Each of them attempts to exert downward pressure on a business's return on investment (ROI). Competitor # 1. Direct Competitors: These refer to firms that make [...]
Some of the frequently asked exam questions on business and corporate strategies are as follows: Q.1. Give an outline of practical way to develop a master strategy of a firm. Ans. A practical way to develop a master strategy is to: 1. Identify particular roles or 'niches' that are appropriate to a firm in view of competition and the firm's [...]
The following points highlight the seven major growth strategies that are listed below which are relevant in the early stage of potential- development. 1. Hold relative position in high-growth products/markets: The growth associated with this strategy is directly attributable to the growth in demand for the product/service being produced by the firm. The funds necessary to support the growth typically [...]