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Discussion Question 1.

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?

Discussion Question 2.

What is the difference among strategic, long-term, and short-term objectives? What is the relationship between objectives and goals? What are some examples of this relationship?

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Solution Summary

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?

Solution Preview

The different type of strategies include cost leadership strategy, differentiation strategy or hybrid strategy combining the elements of first two strategies. The cost leadership strategy involves producing and selling products/services at the lowest possible costs to customers to become the lowest cost producer whereas differentiation strategy involves producing differentiated products to establish a unique positioning in the marketplace. The hybrid strategy combines the elements of both low cost producer as well as differentiated approach. ...

Solution provided by:
Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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