Three levels of Strategies In Strategic Management
Every company will have three types of strategies put in place.
The first kind being, the strategies that will indicate where the company is going to go in the future. Are you trying to increase market share in the existing market, or are you going to tap into a different market segment.
The second kind of strategy is the business level strategies where the mid level managers, that are in charge of a business line or a product line are going to decide how they will operate. They will follow whatever the corporate level managers have dictated in the corporate level strategies.
If corporate wants to increase market share, the business level will have to figure out how to do that. They might decide to start a marketing campaign.
The third level is the functional level. These are the lower level managers that are going to decide how they are going to run the everyday business.
In the example, the functional level managers will be in charge of how to conduct the marketing campaign and which channels they might use to do that.
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