BUS 478 Chapter Notes - Chapter 4: Management System, 43D Air Mobility Operations Group, Total Quality Management
11 May 2016
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The strategy that the firm chooses is influenced by opportunities and threats in the firm"s external environment as well as the nature and quality of the resources, capabilities, and core competencies in its internal organization. The fundamental objective of using any type of strategy is to gain strategic competitiveness and earn above-average returns. A business level strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competing advantage by exploiting core competencies in specific markets. The business strategy is the core strategy-the strategy that the firm firms to describe how it intends to compete in a product market. In terms of customers, when selecting a business-level strategy the firm determines: What needs those target customers have that it will satisfy. How those needs will be satisfied: 4-1 customers: their relationship with business-level strategies (page 105)
