Long term objectives are prepared from the mission statement of the organization on the basis of which all other activities depend. Long term objectives highlight the expected consequences that emerged from application of certain strategies. All the strategies of the Business Organization are formulated & implemented in the guidance of the long term objectives. These […]
Strategy Implementation vs Strategy Formulation
After completing the phase of strategy formulation, the next important stage is the strategy implementation in Strategic Management in which the theoretical work is converted into practical one. In order to produce effective business performance, the strategies & plans should be converted into individual actions. Strategy implementation is the most difficult stage of the whole […]
Types of Vertical Integration Strategy
Vertical integration strategy is a way through which companies try to hold their upstream suppliers and downstream buyers. There are three types of vertical integration and vertical Integration strategies are the combination of those strategies that are applied in the organization to acquire control over suppliers, competitors & distributors. Following are the three main types […]
Discuss the Grand Strategy Matrix Dimensions in Detail
Grand Strategy Matrix is one of important matrix of strategy formulation frame work. For formulation of alternative strategies, it is popular tool. In Grand Strategy Matrix there are four kinds of quadrants and an organization is placed in one of these four quadrants. In each quadrant of the matrix there is set of strategies specified […]
Different Defensive Strategies in Strategic Management
Organizations pursue defensive strategies when the circumstances require some sort of adjustments in the structure or functioning of the organization. Three types of strategic Marketing Strategies are regarded as defensive strategies. Different Defensive Strategies Retrenchment Divestiture Liquidation Retrenchment: When the organization faces declining sales & profits then it considers the retrenchment strategy in which it […]