The information and knowledge about such decisions is not available. Your email address will not be published. Delivery – Avoiding extensive delivery and managing existing deliveries. Under marketing research, the organization is interested in finding answers to a number of queries as listed below: (i) Who are the current users of our product? Organizations have responded with different strategic measures to adapt to the changing external environment. Hence, they should be avoided. Let us now discuss these functional strategies in detail: The definition of marketing strategy can be given, as – “A marketing strategy is a practice that allows an organization to focus on the available resources and turn the opportunities into productivity to increase sales and achieve justifiable competitive lead.” Marketing strategies provide detailed information to the necessary plans to be taken, to carry out the marketing program. It may not be possible to secure all relevant facts for taking decisions. (iv) Relationship with the employee unions. Strategic decisions have ______ effects on firms. The most common ways may be horizontal integration, vertical integration, diversification, and intensification. Horizontal integration is an example of a: Specific actions that need to be undertaken to achieve short-term objectives, usually by functional areas, refers to: Which of these refers to short-term, narrow scoped plans that detail "means" or activities that a company will use to achieve short-term projects? Following Lazer and Kally (1962), one can identify three categories of marketing decisions. According to Gareth R. Jones, “Functional strategy is a plan of action to strengthen an organization’s Functional and organizational resources, as well as its coordination abilities, in order to create core competencies.” Corporate and Business strategies give birth to functional strategies, which are implemented in the organization through functional and operational implementation. iii. “It is a solution selected after examining several alternatives chosen because the decider foresees that the course of action he selects will be more than the others to further his goals and will be accompanied by the fewest possible objectionable consequences. According to them, designing of functional policies is needed to limit discretion, appreciate uniformity in handling similar activities, ensure consistent pattern of organizational behavior, reduce uncertainties in repetitive problems, dispose quickly the routine issues, avoid hasty decisions during the period of transition from the one strategic phase to another, and provide a foundation for superior performance. The doubling of earnings per share within 5 years with increases in each intervening year is called a(n): Agency problems arise when the interests of owners and managers, All of these are economic goals that guide the strategic direction of organizations except, A(n) __________ provides a framework for managerial decisions, The company mission is a broadly framed but enduring statement of, Broad, precedent-setting decisions that guide or substitute for repetitive or time-sensitive managerial decision making are called, Whereas corporate and business-level managers center their attention on _________; managers at the functional level center their attention on ___________, Doing the right things, doing things right, The strategic managers at the highest level of the organization. Formulating programs, which max help in providing the most effective profit-volume-cost relationship. 17. All problems may not require decision- making but merely the supply of information may be sufficient. Financial operating strategies with longer time horizon provide guidelines to financial managers in long-term capital investment, use of debt financing, dividend allocation, and the firm’s leveraging posture. Plans lay down clearly what is to be done, and. Very large firms typically use the _____ mode of strategic management. Managers of product, geographic and functional areas. The decision making under uncertainty is a difficult proposition. a firm will be incapable of satisfying its stakeholders claims if it does not insure, Ina dynamic business environment, __________ is essential, Long-term objectives are principally attained through, In general, __________ seek stock value maximization, The functional level of decision-making is characterized by, Managers of product, geographic and functional areas, Strategic decisions have __________ effects on firms, decisions at which level of management tend to be more value-oriented, more conceptual and less concrete. The reasons why functional strategies are needed can be enumerated as follows: i. Should it be based on annual consumption value or technical importance or speed of movement? The difference between long-term and short-term objectives is principally.


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