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Strategies ?Top management’s overall plan for the entire anization and its strategic business units ? Types of Corporate Strategies ?Growth: expansion into new products and markets ?Stability: maintenance of the status quo ?Renewal: redirection of the firm into new markets 12 Copyright 169。 2023 Prentice Hall, Inc. All rights reserved. * Growth Strategies (cont’d) ? Stability Strategy ?A strategy that seeks to maintain the status quo to deal with the uncertainty of a dynamic environment, when the industry is experiencing slow or nogrowth conditions, or if the owners of the firm elect not to grow for personal reasons. 16 Copyright 169。 2023 Prentice Hall, Inc. All rights reserved. * The Role of Competitive Advantage ? Competitive Advantage ?An anization’s distinctive petitive edge that is sourced and sustained in its core petencies. ? Quality as a Competitive Advantage ?Differentiates the firm from its petitors. ?Can create a sustainable petitive advantage. ?Represents the pany’s focus on quality management to achieve continuous improvement and meet customers’ demand for quality. 20 Copyright 169。 2023 Prentice Hall, Inc. All rights reserved. * Competitive Strategies ? Cost Leadership Strategy ?Seeking to attain the lowest total overall costs relative to other industry petitors. ? Differentiation Strategy ?Attempting to create a unique and distinctive product or service for which customers will pay a premium. ? Focus Strategy ?Using a cost or differentiation advantage to exploit a particular market segment rather a larger market. 24 Copyright 169。 2023 Prentice Hall, Inc. All rights reserved. * Innovation Strategies ? Possible Events ?Radical breakthroughs in products. ?Application of existing technology to new uses. ? Strategic Decisions about Innovation ?Basic research ?Product development ?Process innovation ? First Mover ?An anization that brings a product innovation to market or use a new process innovations 28 Copyright 169。 2023 Prentice Hall, Inc. All rights reserved. * Strategies for Applying eBusiness Techniques ? Cost Leadership ?Online activities: bidding, order processing, inventory control, recruitment and hiring ? Differentiation ?Interbased knowledge systems, online ordering and customer support ? Focus ?Chat rooms and discussion boards, targeted web sites 26 Copyright 169。 2023 Prentice Hall, Inc. Al