Corporate strategic planning part 4

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Types of strategy

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CORE COMPETENCE:

CORE COMPETENCE A higher order competitive advantage enduring strength of firm which is unique.

FEATURES OF CORE COMPETENCE:

FEATURES OF CORE COMPETENCE Unique strength of firm Access to a variety of products Cannot be initiated easily Technological competence Knowledge base

GENERIC STRATEGY ALTERNATIVES:

GENERIC STRATEGY ALTERNATIVES Decision related to allocating resources among the different business, transferring resources from one set to another and managing portfolio of business such a way that the overall corporate objective are achieved.

1. STABILITY STRATEGY:

1. STABILITY STRATEGY Staying with the same business And maintaining same level as at Present. No change Proceed with caution Profit

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY To aim at high growth by broading the scope of business. concentration Integration diversification Cooperation Internationalism

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY Expansion through concentration Investment in a product line with help of proven technology.

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY 2. Expansion through integration using a set of interlinked activities performed by an organisation right from procurement of basic raw material from marketing of finished product to ultimate customer. Expansion through integration Vertical Horizontal Forward Backward

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY 3. Expansion through diversification Concentric Conglometric Marketing related Technology related Marketing and technology related

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY 4. Expansion through cooperation Mergers Vertical Horizontal Concentric Conglometric Takeover JVs Strategic alliance

2. EXPANSION STRATEGY:

2. EXPANSION STRATEGY 5. Expansion through internationalization high low low high Pressure for local responsiveness Cost pressure Global International Transnational Multi domestic

3. RETRENCHMENT STRATEGY:

3. RETRENCHMENT STRATEGY Retrenchment strategy Turnaround Divestment Liquidation

4. COMBINATION STRATEGY:

4. COMBINATION STRATEGY

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