While business level strategy take place at the level of single business or business units eg a subsidiary and the focus is for it own markets. it support corporate level strategy by ensuring that it is successful in its market and drawn on the corporate centre to provide it with the means to compete successfully Though the functional level strategy such as human resources or marketing strategies are developed to support the implementation of business level strategies, they serve as the tool to drive the business level strategy. 3.0 The Importance, Benefit and Risk of Strategy Though strategy is a coherent nature the future direction of an organization, they provide an actionable blue print for achieving organisation aspirations. Strategy critical show its importance to organisation in the following areas; To provide a cohesive strategic thinking and an innovative and future oriented decision framework for the organisation it puts the contribution by organisation members , thereby facilitating the communication strategy to all Its help the organisation to verbalized its aspiration and serve as a sources of motivation for everyone in the organisation. However there are risk also associated with the strategy, this could be factors of external event and trend that can have an impact on the company’s strategy and its shareholder value. 4.0 The Test for a Winning Strategy Though strategy severs as an aspiration for organisational goal, for strategy to have met it purpose as a winning strategy, to be most successfully it must meet the following requirement; that goals are consistent and long term there is an in-depth understanding of the competitive environment and an objective appraisal of resources and effective implementation \ In meeting the above requirement, the organisation strategy as success and as a winning approach there should complies with the following key fits, The goodness fit test, this measure looks at how well the organisation strategy fit in the organisation situation in matching the industry and competitive environment. The competitive advantage test, which look at whether the strategy can help the organisation achieve a sustainable competitive advantage. and finally the performance test, were the strategy is measured in of profitability, financial strength, competitive strength and the market standing of the organisation Learning Unit 2:
While business level strategy take place at the level of single business or business units eg a subsidiary and the focus is for it own markets. it support corporate level strategy by ensuring that it is successful in its market and drawn on the corporate centre to provide it with the means to compete successfully Though the functional level strategy such as human resources or marketing strategies are developed to support the implementation of business level strategies, they serve as the tool to drive the business level strategy. 3.0 The Importance, Benefit and Risk of Strategy Though strategy is a coherent nature the future direction of an organization, they provide an actionable blue print for achieving organisation aspirations. Strategy critical show its importance to organisation in the following areas; To provide a cohesive strategic thinking and an innovative and future oriented decision framework for the organisation it puts the contribution by organisation members , thereby facilitating the communication strategy to all Its help the organisation to verbalized its aspiration and serve as a sources of motivation for everyone in the organisation. However there are risk also associated with the strategy, this could be factors of external event and trend that can have an impact on the company’s strategy and its shareholder value. 4.0 The Test for a Winning Strategy Though strategy severs as an aspiration for organisational goal, for strategy to have met it purpose as a winning strategy, to be most successfully it must meet the following requirement; that goals are consistent and long term there is an in-depth understanding of the competitive environment and an objective appraisal of resources and effective implementation \ In meeting the above requirement, the organisation strategy as success and as a winning approach there should complies with the following key fits, The goodness fit test, this measure looks at how well the organisation strategy fit in the organisation situation in matching the industry and competitive environment. The competitive advantage test, which look at whether the strategy can help the organisation achieve a sustainable competitive advantage. and finally the performance test, were the strategy is measured in of profitability, financial strength, competitive strength and the market standing of the organisation Learning Unit 2:
MNG3701-exam-prep-2015.docx