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Managing Strategy - Coggle Diagram
Managing Strategy
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Corporate Strategy
Stability
The Stability Strategy is mainly used for companies that want to continue what they have been doing. This doesn't mean the company cant grow, it is just much more conservative
Renewal
The Renewal Strategy is used for companies that are looking to change what they have been doing and need to look at taking a different approach
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Growth
The Growth Strategy is used for any company that wants to grow, they will begin by expanding their market, followed by increasing things like employees, revenues, or market shares(stocks).
Competitive Strategies
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It is important for a company to have a Competitive Advantage. That is what sets them apart from other companies.
To gain the competitive advantage you must do that task better than other companies. It can be in things such as technology, design, social media presence and many other things.
Strategy Management
Managers in all businesses have to deal with strategies in every aspect of their jobs. They must be able to think around problems and issues.
Managers must have good strategic leadership, which allows them to think strategically in the situation and work through the problem ahead
Managers must also show good Strategic Flexibility, this allows the manager to go at the problem from different ways of thinking and lets the manager make the best and most efficient decision.