Functional Strategies
9 important questions on Functional Strategies
The functional concerns of an organization:
- Design
- Production - Operations
- Marketing.
2. People strategies:
- HR.
3. Support Process Strategies:
- Information systems
- Financial - Accounting systems.
Managing the 2 "C"s
- Customers
- Competitors.
Strategic choices involve decisions about:
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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High-performance work practices:
The key to strategic management, the challenge is getting and keeping competitive advantage:
o Or the organization has something others do not (unique resource).
What is an appropriate competitive strategy according to Porter?
Generic Competitive Strategies:
1. products or services that are different from those of competitors and those differences are valued by customers.
2. products/ services that are standard, but produced at lower cost, or
3. a combination of the first two options, a hybrid competitive strategy called “best cost”.
Sustainable Competitive Advantage – The need to grow the business:
Origin of competitive advantage:
· Organization
· Technology.
Sustainability of competitive advantage: Time:
Manufacturing
Organizational processes
People driven processes.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
