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Important Functional Strategies

Essay by   •  July 17, 2011  •  Essay  •  477 Words (2 Pages)  •  1,589 Views

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Below are some of the more important functional strategies. It is important that functional strategies be supportive of the overall business strategy and consistent between themselves.

Capital structure

Medium-term planning methods

Budget systems and approaches

Emphasis between leasing and buying

How owners are rewarded

Capital investment methods and systems

Credit strategies

Liquidity strategies

Below are some of the more important functional strategies. It is important that functional strategies be supportive of the overall business strategy and consistent between themselves.

Job design

Job specifications

Recruiting

Selection approaches and criteria

Hiring methods

Compensation systems and level

Evaluation systems and criteria

Training and development

Promotion criteria

Below are some of the more important functional strategies. It is important that functional strategies be supportive of the overall business strategy and consistent between themselves.

Price:

What is included in the initial price

Price level

Discounts

Terms

Product

Quality

Features and options

Styling

Brand name

Product line and related products

Warranties and guarantees

Service and after-sale items

Promotion

Advertising

Personal selling

Promotion

Publicity

Place

...

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