Asked by Scott Jordan on Jun 02, 2024
Verified
A ___ strategy primarily identifies how a division or strategic business unit will compete in its product or service domain.
A) branding
B) business
C) corporate
D) functional
E) marketing
Business Strategy
A plan of action designed to achieve a set of objectives that will ensure the long-term success and viability of a business.
Strategic Business Unit
A semi-autonomous division within a large company that focuses on a specific market or product line.
- Recognize the differences between the several levels and types of strategic approaches within an organization, encompassing corporate, business, and functional.
Verified Answer
TV
Tiana VictorJun 05, 2024
Final Answer :
B
Explanation :
A business strategy identifies how a division or strategic business unit will compete in its product or service domain. Branding strategy focuses specifically on creating and developing a brand image, while marketing strategy addresses the overall marketing mix (product, price, promotion, and place). Corporate strategy, on the other hand, is concerned with the overall portfolio of businesses within a company and how they fit together, while functional strategy deals with how specific departments or functions within an organization can contribute to the overall goals and objectives.
Learning Objectives
- Recognize the differences between the several levels and types of strategic approaches within an organization, encompassing corporate, business, and functional.
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