Management . . . . . . . . . . . . . . . . . . . . . 60 Environmental Scanning . . . . . . . . . . . . 60 Strategy Formulation . . . . . . . . . . . . . . . 60 Strategy Implementation . . . . . . . . . . . . 61 Evaluation and Control . . . . . . . . . . . . . . 61 Lesson 2: Strategic Management Model . . . . . . . . 64
Strategic Business Analysis
Lesson 6: Growth Strategies . . . . . . . . . . . . . . . . 103 Market Penetration. . . . . . . . . . . . . . . . 104 Market Development . . . . . . . . . . . . . . 105 Product Development . . . . . . . . . . . . . 106 Diversification.................... 106 Horizontal Integration . . . . . . . . . . . . . . 109 Lesson 7: Integration Strategies . . . . . . . . . . . . . . 112 Vertical Integration . . . . . . . . . . . . . . . . 113 Forward Integration . . . . . . . . . . . . . . . 113 Backward Integration . . . . . . . . . . . . . . 115 Lesson 8: Turnaround Strategies . . . . . . . . . . . . . 120 Revenue Increasing Strategies . . . . . . 123 Cost Cutting Strategies . . . . . . . . . . . . 123 Asset Reduction Strategies . . . . . . . . . 124 Downsizing Strategies . . . . . . . . . . . . . 124 Lesson 9: Exit Strategies . . . . . . . . . . . . . . . . . . . 127 Divestiture . . . . . . . . . . . . . . . . . . . . . . 127
Identifying Competitive Advantage . . . . . 66 The Strategic Management Process . . . 67 Benefits of Strategic Planning . . . . . . . . 68 Drawbacks of Strategic Planning . . . . . . 68
Lesson 6: Growth Strategies . . . . . . . . . . . . . . . . 103 Market Penetration. . . . . . . . . . . . . . . . 104 Market Development . . . . . . . . . . . . . . 105 Product Development . . . . . . . . . . . . . 106 Diversification.................... 106 Horizontal Integration . . . . . . . . . . . . . . 109 Lesson 7: Integration Strategies . . . . . . . . . . . . . . 112 Vertical Integration . . . . . . . . . . . . . . . . 113 Forward Integration . . . . . . . . . . . . . . . 113 Backward Integration . . . . . . . . . . . . . . 115 Lesson 8: Turnaround Strategies . . . . . . . . . . . . . 120 Revenue Increasing Strategies . . . . . . 123 Cost Cutting Strategies . . . . . . . . . . . . 123 Asset Reduction Strategies . . . . . . . . . 124 Downsizing Strategies . . . . . . . . . . . . . 124 Lesson 9: Exit Strategies . . . . . . . . . . . . . . . . . . . 127 Divestiture . . . . . . . . . . . . . . . . . . . . . . 127 Strategy Formulation: Understanding Different Strategies Lesson 1: Strategy Levels . . . . . . . . . . . . . . . . . . . 75 Corporate Level Strategy . . . . . . . . . . . . 77 Business Unit Strategy . . . . . . . . . . . . . . 78 Functional Strategy . . . . . . . . . . . . . . . . 79 Lesson 2: Cost Leadership Strategy . . . . . . . . . . . 83 Lesson 3: Differentiation Strategy . . . . . . . . . . . . . 89 Lesson4:FocusStrategy. . . . . . . . . . . . . . . . . . . . 95 Lesson 5: Stability Strategy . . . . . . . . . . . . . . . . . 100
CHAPTER 3
v
Liquidation . . . . . . . . . . . . . . . . . . . . . . 127
Lesson 10: Supplementing
the Chosen Strategies . . . . . . . . . . . . . 130 Strategic Alliances . . . . . . . . . . . . . . . . 130 Joint Ventures . . . . . . . . . . . . . . . . . . . 131 Licensing . . . . . . . . . . . . . . . . . . . . . . . 133
Outsourcing . . . . . . . . . . . . . . . . . . . . . 133
Strategy Implementation Preparing a Strategic Business Analysis Plan
CHAPTER 4
vi
Lesson 1: Implementing a Business Strategy . . . 145 Lesson 2: Putting Strategies in Action . . . . . . . . . 155
Bibliography ............................................. 189 Index .................................................. 193
Liquidation . . . . . . . . . . . . . . . . . . . . . . 127
Lesson 10: Supplementing
the Chosen Strategies . . . . . . . . . . . . . 130 Strategic Alliances . . . . . . . . . . . . . . . . 130 Joint Ventures . . . . . . . . . . . . . . . . . . . 131 Licensing . . . . . . . . . . . . . . . . . . . . . . . 133
Outsourcing . . . . . . . . . . . . . . . . . . . . . 133
vi
vii
2025 Higher Education Learning Solutions for the Business and Accountancy Program 64
Made with FlippingBook Ebook Creator