SPD4251_BPS_-_Lecture_9_SV

SPD4251_BPS_-_Lecture_9_SV - PEED – Bachelor of Arts in...

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Unformatted text preview: PEED – Bachelor of Arts in Business (General Mgt/Finance/IB) Subject Lecturer: Macy Wong Meeting 9 SPD4251 Business Policy and Strategy 2 A. Today’s Class Meeting ¡ Functional-Level Strategies ¡ Business-Level Strategies 3 Functional-Level Strategies 4 Hierarchy of Strategies ¡ Corporate Strategies \ These strategies are established at the highest levels of management and involve a long-range time horizon. ¡ Business Strategies \ Business strategies focus on how to compete in a given business. \ Narrower in scope than a corporate strategy, business strategy generally applies to a single business unit. ¡ Functional Strategies \ Narrower in scope than business strategies and deal with the activities of the functional areas – production, finance, marketing, personnel, and the like. \ Functional strategies must support business strategies, but they are mainly concerned with “how to” issues. 5 Hierarchy of Strategies (cont.) Mission Objectives Corporate Strategies Business Unit Strategies Functional Strategies 6 The Role of Functional Strategies ¡ Functional (or operational) strategies : short- term, goal-directed decisions and actions of the organization’s various functional areas. ¡ The functional strategies help move the organization in the desired direction toward the established goals, but are developed taking into account the organization’s vision, missions, and corporate and competitive strategies. ¡ All organizations must acquire and transform resources (inputs) into outputs (products), which are then made available to the organization’s customers or clients. 7 The Three Functional Concerns of Organizations Inputs Resources-Customers-Clients-Goods-Services Outputs Organizational Capabilities Used to transform Three Functional Concerns 1) Product Strategies- Design- Production-Operations- Marketing 2) People Strategies- HR 3) Support Process Strategies- Information systems- Financial-Accounting Systems 8 1) Product Strategies ¡ Product design and development strategies are part of the R&D functional area. ¡ Strategic choices include: \ Timing \ Who will do design and development \ How design and development process will take place ¡ Production-operations: process of creating and providing goods and services. ¡ Strategic choices include: \ How and where products will be produced. These choices encompoass the design and management of the production-operations process. 9 1) Product Strategies (cont.) ¡ Marketing: process of assessing and meeting the wants and needs of individuals or groups by creating, offering, and exchanging products of value. ¡ Marketing strategies are directed at managing the two Cs: customers and competitors....
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SPD4251_BPS_-_Lecture_9_SV - PEED – Bachelor of Arts in...

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