finance

$15.00

Order Now

Description

finance

finance

ANSWER


Competitive strategy is the plan used by a company indicating how it will compete with other companies producing the same products. Basically, this strategy is formulated when a company examines how its strengths and weaknesses match up to with those of its competitors. A good example here is the strategy used by a small meatpacking company which has resolved to focus on a particular place where products provided in restricted areas after learning that it cannot struggle with major companies providing similar products. Corporate Strategy is the direction taken by a company with an aim of succeeding in the long run. On this basis, the establishment of a corporate strategy involves developing a rationale and capacity of the company’s undertakings and the environments of the company. When planning for corporate strategy, a company should put into consideration the environment in which it is working on, its place in the market place, and the competitions factors from other companies. In this case corporate strategy can be illustrated by the example of Bic Pen Corporation when it expanded beyond ballpoint pen production into cigarette lighters; it utilized the same technology and similar distribution channels to sell its new products.