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Ch-6 Functional Level Strategies

Ch-6 Functional Level Strategies

Meaning of Functional Strategy

Once higher level corporate and business strategies have been formulated, management has to formulate and implement strategy for each of the functional areas of business. Strategy ...

Meaning of Marketing

Marketing is an activity to induce people to purchase and sale goods & services. Marketing refers to processes, functions, and activities that create perceived value in eyes of cus...

Meaning of Marketing Mix

The marketing mix consists of everything that the firm can do to influence the demand for its product. Marketing mix is a combination of product, price, place, and promotion, forme...

Strategic Marketing Techniques

Marketing technique refers to the process through which company creates maintain and change the attitude of people towards products, services and person. Over the years, a numbe...

Financial strategy

Procurement of fund or source of funds Disbursement of funds or Management of funds or usage of funds Development of projected financial statements or budgets, Evaluation ...

Production or Operations Strategy

Elements of Production or operational function The Production or Operations Strategy is related to the following elements: Production system, Production or Operational p...

Meaning of Supply Chain

The term supply chain refers to the linkages between suppliers, manufacturers and customers. Supply chains involve all activities like procurement of material, conversion of raw ma...

Meaning of logistic management

Logistics management is a process which integrates the flow of supplies into, through in and through out of an organization. Logistic strategy is implemented to achieve the highest...

Meaning, Importance and Benefit of Research and Development

Research and development (R&D) personnel can play an integral part in strategy implementation. Strategies such as product development, market penetration and Concentric diversif...

Approaches for Implementing R&D Strategy

There are three major approaches for implementing R&D strategy 1.            First firm to market new technological products 2.            Innovative imi...

Responsibilities of Human Resources in Strategic Management

Human resource managers have many strategic responsibilities such as 1.¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† Assessing the staffing needs 2. ¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† Recruitment 3. ¬†¬†¬†¬...