Identify the Statement That Best Describes Business Strategy
A strategy at the business-unit or product-line level that focuses on improving a firms competitive position. It communicates three key aspects.
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Four generic business-level strategies emerge from these decisions.
. The one specific objective that will drive the business over the next few years. A business strategy defines what the company needs to do to reach its goals which can help guide the decision-making process for. Cornering a fledgling market.
A business strategy is an outline of the actions and decisions a company plans to take to reach its goals and objectives. Which of the following statements best describes a business-level strategy. In rare cases firms are able to offer both low prices and unique features that customers find desirable.
These firms are following a best-cost strategy. Which of the following statements best describes a corporate strategy. 1 cost leadership 2 differentiation 3 focused cost leadership and 4 focused differentiation.
A strategy statement helps ensure employees understand and stay focused on the companys strategy. The determination of how a company will compete in a given business and position itself among its competitors TechPark a manufacturing company was in the process of formulating a strategy in an attempt to improve the firms competitive advantage. O A corporate strategy should be reevaluated every ten years O A corporate strategy should be timeless and unchanging A corporate strategy defines the business market or industry in which organizations will operate O A corporate strategy focuses on a firms internal weaknesses O A.
One very common business strategy is for larger firms to gain a stronghold in a growing market through aggressive MA activity. Think of the Fortune 500 firm that buys out a competitor or when a larger firm merges. A strategy by which managers in specific areas decide how best to achieve corporate goals through productivity.
The target customer the geographic location and the vertical integration ie the whole product. A strategy for determining the firms overall attitude toward growth and the way it will manage its businesses or product lines.
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