TYPES STRATEGY

SRIKARA SIMHA
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 MEANING OF STRATEGY

•
TYPES OF STRATEGIES

1. Competitive Strategy
2. Corporate Strategy
3. Business Strategy
4. Functional Strategy
5. Operating Strategy
COMPETITIVE STRATEGY

• Firstly, competitive strategy is the first of the kinds of strategies in strategic

management. It refers to a plan that combines the clout of the external situation. Along
with the integrative concerns of the personal status of an organization. The competitive
strategy aims at gaining a competitive advantage in the marketplace against competitors.
Competitive advantage comes from strategies that lead to some uniqueness in the
market. Winning a competitive strategy is grounded in sustainable competitive
advantage. Examples of the competitive strategy include contrast strategy, low-cost
strategy, and focus or market-niche strategy.
CORPORATE STRATEGY:

• corporate strategy is a type of strategy in strategic management. It draws up at the top level by the
senior management of a diversified company
• As well, corporate strategy defines the long-term objectives and generally affects all the business-nits
under its umbrella.
• Components of Corporate Strategy
• Visioning
• Objective setting
• Resource allocation
• Prioritization of strategic tradeoffs
BUSINESS STRATEGY:

• Thirdly, the different types of strategies in marketing (strategic

management)’s third one is a business strategy. Business strategy
formulates at the business-unit level. It is popularly known as the
‘business-unit strategy.’ This strategy emphasizes the building up
of the company’s competitive position of products or services.
Business strategies are compose of a competitive and cooperative
approach.
COMPONENTS OF BUSINESS STRATEGY

• Components of Business Strategy

• Vision, mission, and values
• Long-term goals for your business strategy
• Financial objectives
• Operational objectives for your business strategy
• Market objectives or creating customer value
• SWOT Analysis
• Business strategy action plans
FUNCTIONAL STRATEGY

• Fourthly, the functional strategy is a type of strategy in strategic management. A

functional strategy refers to an approach that points up a particular functional area of an
organization. It sets down to achieve some objectives of a business unit by maximizing
resource productivity. Once in a blue moon, functional strategy names departmental
strategy since each business function frequently devolves with a section. Examples of
functional strategy comprise production strategy, marketing strategy, human resource
strategy, and financial strategy.
OPERATING STRATEGY

• the operating strategy is the fifth type of strategy in strategic management. It gives form to the operating
units of an organization. A company may develop an operating strategy. For an instance, for its sales
zones. An operating strategy is put across at the field level, usually to achieve on-hand objectives. In
some companies, managers develop an operating strategy for each set of annual goals in the divisions.
• Designing and positioning the production system.
• Focusing on production or manufacturing and service facilities.
• Designing and developing the product or service.
• Selecting the technology and process development.
• Allocating the resources.
• Planning of capacity, facility, and layout.
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