Business > QUESTIONS & ANSWERS > Business A Level Edexcel Definitions: Theme 3 Business Decisions and Strategy 3.1-3.2 Latest Updat (All)
Business A Level Edexcel Definitions: Theme 3 Business Decisions and Strategy 3.1-3.2 Latest Update 2022
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Business A Level Edexcel Definitions: Theme 3 Business Decisions and Strategy 3.1-3.2 Latest Update 2022 aims - ANS-a broad picture of where the business should be heading. Objectives are based... on this ansoff's matrix - ANS-grid showing risks and rewards of ambition beyond boosting sales of existing brands in existing markets competitive advantage - ANS-a sustainable edge that gives one business a long-term advantage over its rivals, e.g: a patented product competitive environment - ANS-the number, the size, power of the rivals you face in your market corporate objectives - ANS-targets for the whole business (probably SMART), from which functional objectives can be set corporate strategy - ANS-the medium long-term plan for how the business is to achieve its corporate objectives cost minimisation - ANS-Porter suggests that one secure position in any market is to be the lowest cost operator, e.g: Ryanair differentiated position. CONTINUES... [Show More]
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