Business Strategy
Describe the business-level strategies of any three well-known companies operating in the GCC region.
An organization's core competencies should be focused on satisfying customer needs or preferences in order to achieve above average returns. This is done through Business-level strategies. Business level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy is concerned with a firm's position in an industry, relative to competitors and to the five forces of competition.Customers are the foundation or essence of a organization's business-level strategies. Who will be served, what needs have to be met, and how those needs will be satisfied are determined by the senior management.
Home Subjects Customer Care Custom Essays
Business Strategy
Business strategy is the plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organisation attain its goals (Daft, 2000: 240). The aim of strategy is to identify ways in which an organisation can outperform others. Strategy therefore involves the creation, implementation and evaluation of purpose, goals, work activities and performance measures (Coulter, 1998: 361). Strategy is important as it gives organisations a sense of purpose and direction, helps coordinate the activities of people and functions and serves as a control device. Strategy is normally split into three levels- corporate, business and functional.Corporate-level strategy is concerned with the broad and more long-term questions of ‘what business(es) are we in or do we want to be in and what do we want to do with these business(es)’ (Coulter, 1998: 9). Whether to acquire new businesses, to add or divest business units, plants or product lines or to participate in
An organization's core competencies should be focused on satisfying customer needs or preferences in order to achieve above average returns. This is done through Business-level strategies. Business level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy is concerned with a firm's position in an industry, relative to competitors and to the five forces of competition.Customers are the foundation or essence of a organization's business-level strategies. Who will be served, what needs have to be met, and how those needs will be satisfied are determined by the senior management.
Home Subjects Customer Care Custom Essays
Business Strategy
Business strategy is the plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organisation attain its goals (Daft, 2000: 240). The aim of strategy is to identify ways in which an organisation can outperform others. Strategy therefore involves the creation, implementation and evaluation of purpose, goals, work activities and performance measures (Coulter, 1998: 361). Strategy is important as it gives organisations a sense of purpose and direction, helps coordinate the activities of people and functions and serves as a control device. Strategy is normally split into three levels- corporate, business and functional.Corporate-level strategy is concerned with the broad and more long-term questions of ‘what business(es) are we in or do we want to be in and what do we want to do with these business(es)’ (Coulter, 1998: 9). Whether to acquire new businesses, to add or divest business units, plants or product lines or to participate in