“FORMULATION OF MARKETING STRATEGIES TO IMPROVE MARKET SHARE OF LGMICROWAVE OVENS”
November 10, 2010Page 3
Strategy at Different Levels of a Business
Strategies exist at several levels in any organization -ranging from the overallbusiness (or group of businesses) through to individuals working in it.
-is concerned with the overall purpose and scope of thebusiness to meet stakeholder expectations. This is a crucial level since it isheavily influenced by investors in the business and acts to guide strategicdecision-making throughout the business. Corporate strategy is often statedexplicitly in a "mission statement".
Business Unit Strategy
-is concerned more with how a business competessuccessfully in a particular market. It concerns strategic decisions aboutchoice of products, meeting needs of customers, gaining advantage overcompetitors, exploiting or creating new opportunities etc.
-is concerned with how each part of the business isorganized to deliver the corporate and business-unit level strategic direction.Operational strategy therefore focuses on issues of resources, processes,people etc.Strategy is the process of planning & executing various maneuvers or actions inan attempt to reach a goal. Strategy is often associated with business,politics,& military planning, but individuals can also strategized towardsachieving their career, health . Strategy is essentially akin to planning butimplies a maximization of resources with logical thinking, intelligence(acquired knowledge) & leverage.