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I assume you are referring Business strategy here.
Strategy at the business unit level is concerned with competing successfully in individual markets, and it addresses the question, "How do we win in this market?" However, this strategy needs to be linked to the objectives identified in the corporate level strategy.
Competitive analysis, including gathering competitive intelligence, is a great starting point for developing a business unit strategy. As part of this, it's important to think about your core competencies, and how you can use these to meet your customers' needs in the best possible way. From there you can use USP Analysis to understand how to strengthen your competitive position.
You will also want to explore your options for creating and exploiting new opportunities. Porter's Five Forces is a must-have tool for this process, while a SWOT Analysis will help you understand and address the opportunities and threats in your market.
Your business unit strategy will likely be the most visible level of strategy within each business area. People working within each unit should be able to draw direct links between this strategy and the work that they're doing. When people understand how they can help their business unit "win," you have the basis for a highly productive and motivated workforce. As such, it's important to have a clear definition of the business unit's mission, vision and values.
Two simplest form of strategy are:
1. Profit maximization Strategy
2. Cost minimization Strategy
Agree with Md. Fazlur Rahman Administration Manager (P3) 7>>>>>>>>>>
Profit & Cost Strategy
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This lesson is for third through fifth grade students who have an understanding of equivalent fractions using models, an understanding of multiplication and division facts, and of multiplying and dividing fractions. Students will use multiplication and division to show equivalent fractions.
Key Understandings
If you multiply or divide both numerator and denominator by the same number, the new fraction will be equivalent to the original fraction.
Vocabulary
Denominator: The bottom part of a fraction. The denominator represents the total number of equal parts in the whole or the set.
Numerator: The top part of a fraction. The numerator represents how many pieces of the whole that are being discussed.
Equivalent Fractions: Fractions that reduce to the same number and have an equal value. They are fractions that name the same amount in different ways.
Simplifying: Reducing to lowest terms.
Lowest terms/Simplest Form: The numerator and denominator of a fraction in lowest terms have no common factors except one.
Demonstration
Review vocabulary and what students know about equivalent fractions. Show models of equivalent fractions and explain that even though the numerators and denominators in the fractions are different, the fractions represent the same amount, which means they are equivalent.
Use models to show the fractions 1/2 and 2/4, or draw them for students. Have students point out what they know about the fractions. Lead them to see that there are twice as many pieces in the drawing of 2/4 than in the drawing of 1/2, but they represent the same amount.
Review that numbers that are multiplied by one equal the same number. Ask students to give a few examples of one as a fraction, for example: 3/3, 4/4, 2/2. Write 1/2 x 2/2 = 2/4, and show that the numerator and denominator are doubled to show the new fraction. Explain that this is another way to find equivalent fractions.
Multiply the numerator and denominator by the same number to find an equivalent fraction. Or, divide the numerator and denominator by the same number. It's important to write fractions as "stacked", not side-by-side. This will help students when multiplying and dividing.
Show a few examples:
3/12 x 4/4 = 12/48 3/12 (division sign) 3/3 = 1/4 All of these fractions are equivalent because they name the same amount: 1/4After a few examples, have students think about a rule for this principle. They should be able to tell you that if you multiply or divide both numerator and denominator by the same number, the new fraction will be equivalent to the original fraction. The only time this won't work is if students multiply by zero.
Explain that sometimes fractions have to be renamed to make them easier to work with. Emphasize that the fractions will still equal the same amount, or be equivalent, but the numerator and denominator will be different from the original fraction.
To simplify fractions, find a common factor that will divide evenly into the numerator and denominator. For example, show the students this fraction: 12/18
Find the factors of the numerator and denominator. The factors of 12 are 2, 3, 4, and 6. The factors of 18 are 2, 3, 6, and 9. The common factors are 2, 3, and 6.
To simplify the fraction, divide by 6, since 6 is the greatest common factor. Show students how to divide the fraction: 12/18 (division sign) 6/6 = 2/3
Explain that a fraction is in simplest form if 1 is the only common factor of the numerator and denominator. Have students determine if this fraction is in simplest form. 2/3 is the simplest form of 12/18.
In order to reduce a fraction to its lowest terms, explain that students can divide by any common factor, and continue until it's in lowest terms, or they can divide by the greatest common factor. For example, students could divide the fraction 12/18 by 2/2, and then divide by 3/3 to show the fraction in simplest form. Or students could divide 12/18 by 6/6 and show the fraction 2/3 in one step.
Discuss the meaning of the word equivalent and what makes fractions equivalent. Have students write in their journals how they can find equivalent fractions. Have them answer the question: How do you know when you have a fraction in simplest form?
Guided Practice
Have students practice finding equivalent fractions both by multiplying the numerators and denominators and by dividing the numerators and denominators by the greatest common factors. Provide students with several fractions and ask them to find equivalent fractions by multiplying. Some examples could be 2/3,1/4, or 3/5.
Have students also simplify fractions. Some examples could be 6/30 = 1/5, 4/6 = 2/3, or 15/20 = 3/4.
Another way to have students practice would be to create flash cards of equivalent fractions, and play a game such as concentration, where students find and match the equivalent fractions.
Sharing Ideas
Discuss what students learned while finding equivalent fractions. Have them share strategies they used.
Independent Practice
Give students several fractions and have them find equivalent fractions using both multiplication and division.
Assessment
Students can be assessed by reading their journals entries to check understanding, or by reviewing their independent practice of finding equivalent fractions.
In case of business strategies, the most important strategies are profit maximization and cost minimization.
Depending on the level of decision making, i.e. the level at which the overall strategy has been defined, corporate would see the need to create sub, or functional strategies, complementing the overall strategy. Again, one may, or may not require functional strategies, or even use of mentioned model to form a strategy, as it all depends on the context and the need
To choose type of strategy either simple or complex , let's Take an organization wishing to taking decisions to go international as an example, to choose the best strategy , the executives have many challenges:
i) Marketing - which countries, which segments, how to manage and implement marketing effort, how to enter - with intermediaries or directly, with what information?
ii) Sourcing - whether to obtain products, make or buy?
iii) Investment and control - joint venture, global partner, acquisition?
Therefore, Decisions in the marketing area focus on the value chain the strategy or entry alternatives must ensure that the necessary value chain activities are performed and integrated. Concerning investment and control, the question really is how far the company wishes to control its own fate. The degree of risk involved, attitudes and the ability to achieve objectives in the target markets are important facets in the decision on whether to license, joint venture or get involved in direct investment. Cunningham (1986) identified five strategies used by firms for entry into new foreign markets:
i) Technical innovation strategy - perceived and demonstrable superior productsii) Product adaptation strategy - modifications to existing productsiii) Availability and security strategy - overcome transport risks by countering perceived risksiv) Low price strategy - penetration price and,v) Total adaptation and conformity strategy - foreign producer gives a straight copy.
Successful business strategy doesn't refer to simplicity or complexity but all about the right answers, and asking the right questions, says Harvard Business School professor Robert Simons. In an excerpt from his new book, Seven Strategy Questions, Simons explains how posing these questions can help managers make smart choices. Key issues include:
· Asking simple questions enables business teams to focus on key issues instead of on the distracting information that can obfuscate clear thinking.
· A successful business strategy requires an ongoing, face-to-face debate, which a manager can facilitate by posing the right questions to the team.
· Each of seven questions is the root of an "information imperative"—a particular topic or process that a manager must master in order to implement a strategy successfully.
No matter how simple or complex your current strategy is, it won't work forever. There will be booms and busts, customer preferences will change, competitors will introduce new products, and disruptive new technologies will emerge in unexpected places. This brings us to the final implementation imperative: adapting to change. Adapting is critical to survival, but it's extremely difficult to do. With change constantly surrounding us, employees often do not know where to look or how to respond. For example: the techniques that companies such as Johnson & Johnson use to search for new information and ideas as markets inevitably change. personal attention is the critical catalyst to focus the entire organization on the strategic uncertainties that keep you awake at night. After all, everyone watches what the boss watches. these principle used to guide the emergence of new simple strategies for the future.
Thanks for invitation
I am agreeing with my colleague’s answer Mr. Khalid
