Discussion Q
Hiram9221. What is the relationship between policies and strategies?
No Ai
Source: PPTX attached
120 words or more
2 years ago
10
files (1)Chapter8PPStrategicManagementPowerpointSP20Chp8.pptx
Chapter8PPStrategicManagementPowerpointSP20Chp8.pptx
STRATEGIC MANAGEMENT
Chapter 8: Functional strategy
Functional strategy
Functional strategy is the approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity
Marketing strategy deals with pricing, selling, and distributing a product
Financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action
R&D strategy deals with product and process innovation and improvement
Operations strategy determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers
Purchasing strategy deals with obtaining the raw materials, parts, and supplies needed to perform the operations function
Logistics strategy deals with the flow of products into and out of the manufacturing process
HRM strategy addresses the issue of whether a company or business unit should hire a large number of low-skilled employees who receive low pay, perform repetitive jobs, and are most likely quit after a short time or hire skilled employees who receive relatively high pay and are cross-trained to participate in self-managing work team
Locations of functions
Outsourcing is purchasing from someone else a product or service that had been previously provided internally
Offshoring is the outsourcing of an activity or a function to a wholly owned company or an independent provider in another country
outsourcing
Outsourcing is purchasing from someone else a product or service that had been previously provided internally
offshoring
Offshoring is the outsourcing of an activity or a function to a wholly owned company or an independent provider in another country
