Strategic Planning and Mapping
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Question: Explain what is meant by the term "strategic groups". Suggest appropriate dimensions for mapping strategic groups within one of the following sectors and then apply the concept to that sector. Give reasons why you believe your chosen dimensions are appropriate.
- Financial Services
- Professional Services
- Voluntary Sector
Strategic Groups in the Retailing Business
Strategic groups are organizations within an industry that have the same strategic characteristics, following similar strategies, or competing in similar bases (Johnson et al., 2005). These characteristics however are different from other strategic groups that belong to the same industry or sector.
As applied to the merchandise retail business, the strategic groups may include supermarkets, groceries, and convenience stores. Supermarkets may be the same in certain characteristics, but are different from groceries and convenience stores.
The dimensions that may be used for mapping the retailing business include the scope of business and ...
In about 400 words, including two references, this solution discusses the concept of strategic planning in the retail merchandise business.