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Business and Operation Strategy - Essay Example

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A Strategy is a broad master plan for accomplishing the objectives and undertakings of a corporation, defined at corporate, business and functional levels in order to succeed. Organizations usually develop strategies for all levels but the relations and more focus need to be placed on the coordination of the strategies at different levels…
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Business and Operation Strategy
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Download file to see previous pages Business strategy is the way in which companies achieve competitive advantage and according to Ohmae (1982), it is an instrument of competition in a competitive market as what distinguishes this from other types of planning is merely competitive advantage. Porter’s (1980) main idea of business strategy is that competitive advantage in a company can be created by low cost or differentiation and these instances can become meaningful in a broad or limited market.
The strategy here is in the form of a two by two matrix in internal and the market perspectives in competitive advantage of a firm where there is cost differentiation and market range. Porter (1985) believes that companies in major cases adopt one of these strategies but if a company chooses to apply more than one strategy it defeats the object due to the cost leadership and differentiation strategies are incompatible, differentiation usually increases the cost.
Operational excellence describes a distinct strategic approach to production and providing services and products where the aim of this strategy is to hold price leadership in the industry. ...Download file to see next pagesRead More
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