What are the 4 types of business strategies?

The four types of business strategies are as follows:

1. Corporate strategy – A corporate-level strategy, often stated as an organizational-level strategy, focuses on the organization's vision, mission, values, or purpose.

2. Business Strategy –A business-level strategy focuses on how a business unit will compete against competitors within the market.

3. Functional Strategy – A functional strategy concerns how a functional division of an organization will achieve its objectives. A functional strategy supports a business unit's fighting strategy by increasing resource productivity. In addition, it also focuses on encouraging competence in pursuit of competitive advantage.

4. Operating Strategy - An operating strategy is concerned with how an organization's parts (operating divisions) effectively deliver the company, business, and functional-level strategies regarding resources, processes, and people.

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What is the 3 strategic management?

The three strategic management are as follows:

1. Formulation refers to establishing the organization's mission and objectives and selecting alternative strategies. The strategic formulation is also called strategic planning.

2. Implementation refers to decisions made to implement new or reinforce existing strategies. The fundamental strategy-implementation activities are establishing annual objectives, devising policies, and allocating resources. Strategy implementation also includes making selections with relevance matching strategy and organizational structure, developing budgets, and motivational systems.

3. Evaluation and control – Strategies may be further modified due to changing internal and external factors. In strategy evaluation and control, process managers determine whether the chosen strategy achieves the organization's objectives. The elemental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.

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