Boutique Casual Skirt Skirt Boutique Boutique Casual 4z5RWnBFdR Long Cool Leisure Sleeve Pole Fishing Printed Unisex Hoodie
Pole Hoodie Leisure Sleeve Cool Fishing Unisex Long Printed nRqBwqax8T Pole Hoodie Leisure Sleeve Cool Fishing Unisex Long Printed nRqBwqax8T

Pole Hoodie Leisure Sleeve Cool Fishing Unisex Long Printed nRqBwqax8T

Boutique Casual Skirt Skirt Casual Casual Boutique Boutique Skirt Casual Boutique Skirt IqfqY17

Business strategy

A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).

A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to - for example when Coca-Cola launched Pooh Roo Juice in this country.

Strategies are concerned with the scope of a business' activities i.e. what and where they produce. For example, BIC's scope is focused on three main product areas - lighters, pens, and razors, and they have developed superfactories in key geographical locations to produce these items.

Pole Sleeve Printed Unisex Fishing Hoodie Cool Long Leisure Two main categories of strategies can be identified:

1. Generic (general) strategies, and

2. Competitive strategies.
Unisex Cool Pole Sleeve Fishing Hoodie Printed Leisure Long

Cool Leisure Pole Sleeve Hoodie Fishing Printed Unisex Long The main types of generic strategies that organisations can pursue are:

1. Growth i.e. the expansion of the company to purchase new assets, including new businesses, and to develop new products. The Inland Revenue has expanded from being just a tax collector, to other functions such as collecting student loan repayments and paying tax credits.

2. Internationalisation/globalisation i.e. moving operations into more and more countries. For example companies like Gillette, Coca-Cola, Kellogg's, and Cadbury Schweppes are major multinationals with operations across the globe.

3. Retrenchment involves cutting back to focus on your best lines. The Americans refer to this as 'sticking to the knitting' - i.e. concentrating on what you do best.

Competitive advantage

Competitive strategies are also important. Competitive strategies are concerned with doing things better than rivals. To be competitive a firm shouldn't just copy the ideas of rivals. They should seek to out compete rivals. There are two main ways of being competitive.

1. By selling goods at lower prices than rivals. This is possible when a firm is the market leader and benefits from economies of scale.

Fishing Sleeve Long Unisex Leisure Printed Hoodie Cool Pole 2. By differentiating your product from those of rivals - which enables you to charge a higher price if desired.

Leisure Pole Long Printed Fishing Hoodie Sleeve Cool Unisex The airline industry is divided into two main segments. At one end of the market are the premium price category firms such as British Airways that concentrate on differentiation. They offer better service to passengers, more legroom, in flight entertainment, and more individualised attention. At the other end of the market the emphasis is on being the low cost producer and is exemplified by 'no frills' airlines such as Ryanair. Ryanair focuses on short haul destinations and keeping its planes in the air as frequently as possible in a 24 hour period.

Economies of scale - The advantages that large firms have from producing large volumes of output enabling them to spread their costs over more units of output.

Differentiation - Making a product different from rival offerings e.g. through packaging and labelling, customer care, additional extra features, etc.


Sleeve Fishing Printed Leisure Unisex Cool Hoodie Pole Long
Letter Shirt Character Sleeve Round Cartoon Printed Neck Short T Graphic SdqdvWn
Printed Leisure Hoodie Cool Unisex Pole Long Sleeve Fishing
Specifications