Business administration Strategy

8 important questions on Business administration Strategy

What is the definition of strategy for business purposes?

The direction and scope of an organization over the long term which achieves advantage for the organization through its configuration of resources within a changing environment and to fulfill stakeholder expectations.

What is a fit strategy?

Strategy that starts with the identifying of opportunities in the business environment/market and then adapts its resources and competences to take advantage of the resources.

What is a stretch strategy?

Strategy that starts with the identifying of the business' resources and competence and then creates opportunities to capitalize on them.
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What are the types of factor?

Characteristics of people/organizations, purchase/use situation and users' needs and preferences for product characteristics.

What could a strategy be made via?

1.A process of continuous adaptation. 2 A deliberate transformation-causing process.

What do fit and stretch strategies require?

The understanding of the context in which the potential business will exist and the nature of the (potential) business itself.

What are the five process of an industry?

Development, growth, shakeout, maturity and decline.

What does the anatomical structure of an organization include?

The ideology, strategic apex, middle line, operating core, support staff and techno structure.

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