Please answer the 3 questions below.
What are the different types of strategies?
What are the differences among these strategies?
How do you determine which type of strategy is most appropriate for your organization?
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What are the different types of strategies? What are the differences among these strategies?
The three different types of strategies are Cost leadership, differentiation and focus strategies.
In a company pursuing a low-cost strategy, every activity of the organization must be examined with respect to cost. For example, favorable access to raw materials must be arranged, products must be designed for ease of manufacturing, manufacturing facilities and equipment must continually be upgraded, and production must take advantage of economies of scale. In addition, a low-cost strategy requires a company to implement tight controls across its operations, avoid marginal customer ...
Describe different types of strategies; how to determine the appropriate one