ADMS 2400 Study Guide - Final Guide: Marketing Strategy, Total Quality Management, Strategic Business Unit
12 Aug 2020
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Document Summary
Functional strategies are detailed action plans for implementing the growth and competitive strategies of the company. Marketing strategies are concerned exclusively with the needs of customers. An effective operations unit is one that promises the maximum efficiency or engineering perfection independent of the strategy of the business overall. Supply chain management involves the integration of the interests of the focal company, the company"s customers and the company"s suppliers. The same marketing strategies are used in supporting low-cost leadership and differentiation strategies. For each organization, there is one organization structure that will best optimize performance. A functional structure is designed around the outputs of an organization, as represented by product groups or markets. A divisional structure is especially appropriate for a business pursuing a market penetration growth strategy. The matrix structure is a way to achieve a high degree of coordination among several related businesses.
