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Organizations go through an inevitable progression from growth through maturity, revival, and eventually decline. The broad corporate strategy alternatives, sometimes referred to as grand strategies, are: During the organizational life cycle, managements choose between growth, stability, or retrenchment strategies to overcome deteriorating trends in performance.
Just as every product or business unit must follow a business strategy to improve its competitive position, every corporation must decide its orientation towards growth by asking the following three questions: At the core of corporate strategy must be a clear logic of how the corporate objectives, will be achieved.
Most of the strategic choices of successful corporations have a central economic logic that serves as the fulcrum for profit creation. Some of the major economic reasons for choosing a particular type corporate strategy are: The non-economic reasons for the choice of corporate strategy elements include: There are four types of generic corporate strategies.
A stability strategy is utilized by a firm to achieve steady, but slow improvements in growth while a retrenchment strategy which includes harvesting, turnaround, divestiture, or liquidation strategies is used to reverse poor-organizational performance. Once a strategic direction has been identified, it then becomes necessary for management to examine business and functional level strategies of the firm to make sure that all units are moving towards the achievement of the company-wide corporate strategy.
The firm stays with its current business and product markets; maintains the existing level of effort; and is satisfied with incremental growth. It does not seek to invest in new factories and capital assets, gain market share, or invade new geographical territories.
Organizations choose this strategy when the industry in which it operates or the state of the economy is in turmoil or when the industry faces slow or no growth prospects. They also choose this strategy when they go through a period of rapid expansion and need to consolidate their operations before going for another bout of expansion.
Firms choose expansion strategy when their perceptions of resource availability and past financial performance are both high. The most common growth strategies are diversification at the corporate level and concentration at the business level.
Reliance Industry, a vertically integrated company covering the complete textile value chain has been repositioning itself to be a diversified conglomerate by entering into a range of business such as power generation and distribution, insurance, telecommunication, and information and communication technology services.
Diversification is defined as the entry of a firm into new lines of activity, through internal or external modes.
The primary reason a firm pursues increased diversification are value creation through economies of scale and scope, or market dominance. In some cases firms choose diversification because of government policy, performance problems and uncertainty about future cash flow.
Internal development can take the form of investments in new products, services, customer segments, or geographic markets including international expansion. Diversification is accomplished through external modes through acquisitions and joint ventures. Concentration can be achieved through vertical or horizontal growth.
Vertical growth occurs when a firm takes over a function previously provided by a supplier or a distributor. Horizontal growth occurs when the firm expands products into new geographic areas or increases the range of products and services in current markets.
Turnaround strategy is a form of retrenchment strategy, which focuses on operational improvement when the state of decline is not severe. Other possible corporate level strategic responses to decline include growth and stability.
A firm adopting the combination strategy may apply the combination either simultaneously across the different businesses or sequentially. Reliance Industries, while consolidating its position in the existing businesses such as textile and petrochemicals, aggressively entered new areas such as Information Technology.Fulfillment by Amazon (FBA) is a service we offer sellers that lets them store their products in Amazon's fulfillment centers, and we directly pack, ship, and provide customer service for these products.
What do Office and G Suite do?
Office and G Suite are a suite of productivity tools that let you perform common business tasks 'in the cloud'.
Office also provides a comprehensive range of desktop applications (programs that you install on your computer as opposed to using in a web browser).
This bar-code number lets you verify that you're getting exactly the right version or edition of a book. The digit and digit formats both work.
This document contains information relevant to 'Extensible Markup Language (XML)' and is part of the Cover Pages resource. The Cover Pages is a comprehensive Web-accessible reference collection supporting the SGML/XML family of (meta) markup language standards and their application.
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2. How does the use of the Internet, intranets, and extranets by companies today support their business processes and activities?
In order to succeed today, organizations that are competing in global markets are increasing rapidly.