Course Hero Logo

unit v essay final.doc - Running head: UNIT V ESSAY 1 Unit...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 4 out of 6 pages.

Running head: UNIT V ESSAY1Unit V EssayStudent’s NameInstitution
UNIT V ESSAY2Unit V EssayWhat is a functional strategy?A functional strategy for companies emphasizes the attainment of a goal on the abilitiesand skills of different departments and their workers. This means that a functional strategydepicts a short term plan for attaining one or more goals of a company by one or more functionalregions. A functional strategy represents a company’s review and assessment of differentstrategies. The eight marketing strategies are financial, marketing, research and development(R&D), purchasing, operations, logistics, information technology, and human resourcemanagement (HRM) (Yang & Gabrielsson, 2017).The strategies combined make up the wholefunctional strategies companies use to project their plan to either maintain current operations,make some changes in specific areas, or dispose of some of the sectors that are not operatingaccordingly.What are the stability strategies in business?What are the pros and cons of thesestrategies?Stability strategies in the business refer to approaches companies put in place to avert thecost of expansion. This is where a corporation makes a decision of not venturing in new marketsor manufacture new commodities. A stability strategy is used when a company does notunderstand the trend that is happening in the specific industry of operations. Many companieschose to continue operations with caution and make no changes while aiming at racking thehighest profit in the market. It is worth noting that stability approaches might be detrimental orbeneficial for companies. This is considering that some choices to halt or proceed on specificoperations might work well in the short term but have negative effects on the long term (Yang &
UNIT V ESSAY3Gabrielsson, 2017).

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 6 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
NoProfessor
Tags
Marketing, Chief Executive Officer

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture