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![Lecture’s topics What are the basic types of strategy that](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-1.jpg)
Lecture’s topics
What are the basic types of strategy that an organisation
can follow?
What are Porter’s competitive strategies?
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![What is strategy? Strategy is the way in which the](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-2.jpg)
What is strategy?
Strategy is the way in which the organisation will
meet its goals.
It is the outcome of the first two steps of the
strategic management process.
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![The Four Grand Strategies Growth strategy Stability strategy Retrenchment strategy Combination strategy](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-3.jpg)
The Four Grand Strategies
Growth strategy
Stability strategy
Retrenchment strategy
Combination strategy
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![The Four Grand Strategies A Growth strategy is a strategy](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-4.jpg)
The Four Grand Strategies
A Growth strategy is a strategy in which
an
organisation attempts to increase the level of its
operations.
This could be achieved through direct expansion,
new product development, or by diversifying –
merging with or acquiring other firms (a quick way
to build market share).
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![The Four Grand Strategies A Stability strategy is a strategy](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-5.jpg)
The Four Grand Strategies
A Stability strategy is a strategy in which
an
organisation continues to serve its same market
and customers while maintaining its market share.
This strategy is characterised by an absence of
significant change.
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![The Four Grand Strategies A Retrenchment strategy is a strategy](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-6.jpg)
The Four Grand Strategies
A Retrenchment strategy is a strategy in which
an
organisation is reducing its size, usually in an
environment of decline.
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![The Four Grand Strategies A Combination strategy is a strategy](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-7.jpg)
The Four Grand Strategies
A Combination strategy is a strategy in which
an
organisation simultaneously pursuits two or more
of the previous grand strategies.
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![Porter’s Competitive Strategies Cost-leadership Differentiation Focus](/_ipx/f_webp&q_80&fit_contain&s_1440x1080/imagesDir/jpg/87671/slide-8.jpg)
Porter’s Competitive Strategies
Cost-leadership
Differentiation
Focus
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Porter’s Competitive Strategies
Cost-leadership is a strategy whereby a company
aims to
compete on price rather than on, say,
advanced features or high levels of customer
service.
Note: a low cost base will not in itself bring competitive
advantage – consumers must see that the product or
service offered represents value for money.
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Porter’s Competitive Strategies
A differentiation strategy consists of offering a
product or
service that is perceived by consumers
to be unique or distinctive on a basis other than
price.