Abstract

OutlineThe chapter elaborates on what each specific strategy means and how the three elements of each respective strategy are understood. Studies in this chapter reveal that the Competitive Strategy (or SBU Strategy) is well studied and concluded into systematic academic fruition. However, the academic community has not yet offered systematic insights in corporate strategy in spite of adequate research in competitive strategy and tactics.

Highlights

  • In the Chapter of Tactics and Three Tactical Elements of Strategy, we have mentioned certain strategies such as cost leadership, hybrid, mergers & acquisitions, integration, etc

  • Functional Strategy refers to the strategy or organizational plan adopted by each functional department, namely market, production, finance and human resources, to achieve organizational goals in line with the overall business or corporate strategy

  • A company's functional strategy is tailored for a specific industry or strategic business unit (SBU) to support other strategies

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Summary

Introduction

In the Chapter of Tactics and Three Tactical Elements of Strategy, we have mentioned certain strategies such as cost leadership, hybrid, mergers & acquisitions, integration, etc. What about the three elements of those strategies? There are three levels of company strategies (see Fig. 6.1): Corporate Strategy, Competitive Strategy, or SBU Strategy (Strategic Business Unit–SBU), Functional Strategy. Corporate Strategy takes a portfolio approach to strategic decisions by looking at all of the company's businesses to determine how to create the most value. Competitive Strategy refers to a long-term plan made by a company to gain competitive advantage over its competitors in the industry. Functional Strategy refers to the strategy or organizational plan adopted by each functional department, namely market, production, finance and human resources, to achieve organizational goals in line with the overall business or corporate strategy. A company's functional strategy is tailored for a specific industry or strategic business unit (SBU) to support other strategies. We discuss solely on the Corporate Strategy and Competitive Strategy

Competitive Strategies and Their Three Elements
Price Middle
Corporate Strategy
Corporate Strategies and Their Three Elements
Strategies and Their Three Elements in Tradition
Findings
Concluding Remarks
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