Read e-book online Business policy and strategy PDF

By Schwindt, Richard

ISBN-10: 0880241233

ISBN-13: 9780880241236

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Long-linked technology, as a value chain, involves transforming inputs into products. Long-linked technology exhibits sequential interdependence in which the output of a given unit becomes the input of another’s work process. Intensive technology focuses on using knowledge, housed within the firm, to solve customer problems by employing pooled interdependence, in which each task in the process is separate from the others. Intensive technology is referred to as a value shop, because the idea of a shop captures the concept that the firm is directed toward solving unique client problems, much like a machine shop or a job shop that produces unique customer products.

The least utilized, yet most effective, method is word-of-mouth. This is a low-cost method that is often overlooked. Once the mission statement gains widespread acceptance and support, the process should be considered complete. Stakeholders’ Involvement in the Development of a Mission In developing a mission statement it is important to solicit input from all stakeholders. An excellent mission statement is the product of many different stakeholders’ perspectives. Input should be sought from those stakeholders with the greatest investment in the direction and success of the organization.

This type of differentiation may take a long time to develop, but may be well worth it. fm Page 25 Monday, February 5, 2007 4:27 PM Understanding Existing Strategy Ⅲ 25 Focused Strategy A focused strategy is simply the application of one of the above strategies to a niche market. Within the overall scope of the market, a firm may seek to concentrate on a particular market segment within which they have found it possible to favorably compete. When a firm does this, they essentially have chosen to withdraw from the broader market and thus have imposed a limit on their market potential.

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Business policy and strategy by Schwindt, Richard

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