3. In the hierarchy of strategy, what purpose do corporate and business level strategies serve? Why should firms have a business strategy?
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- How does the strategic planning process inform itself?What is a grand strategy, and how does it relate to strategic objectives and the three levels of strategy?What is the meaning of strategy and the role of strategy to achieve business objectives and goals, strategic intent anddifferent strategic direction.
- If a company has $1 million to spend on a new strategy and is considering market development versus product development, what determining factors would be most important to consider? Could a firm simultaneously pursue focus, differentiation, and cost leadership?Should firms do that? DiscussDevelop a strategic vision and mission for the business. Compose three (3) financial andthree (3) strategic objectives for the business. Discuss three (3) habits of a strategicleader which are important to business strategy as discussed in the course.What does Effective strategic planning require?
- Assume you have been appointed as a Strategic Manager for Foshini. Present a clear SWOT analysis for the company and how the results of a SWOT analysis can assist an organization in strategy formulationExplain the concept of a "strategic plan." What are the key components of a strategic plan, and how does it align with the organization's mission and vision?Explain the Intended vs Realized Strategy model by Mintzberg-Walters. How can we apply in the current times
- How awareness of a hierarchy of strategic goals can help an organization achieve coherence in its strategic directionjWhat are the strengths and weaknesses of these two types of corporate-level strategies?Why is strategic flexibility important for strategy formulation when an organization is at the growth stage?