Strategic Terms

What Is Diversification? Top 7 Reasons for Diversification – Explained

Growth and expansion are one of the primary success factors for companies. These factors allow companies to increase their revenues and attract new customers. Usually, companies use their products to grow their operations. As they grow, they introduce new products to enhance their product line. Through these products, they access a larger market and increase

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Strategic Business Unit (SBU) Vs Division: What Are the Differences? Explained

Companies use an organizational structure to outline how certain activities help achieve their goals. This structure also allows companies to organize their operations to create flows between various levels. Usually, large and established companies have several departments and functions. Through an organizational structure, they can manage those functions better. Companies can use several formations to

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Related Diversification vs Unrelated Diversification: Which Strategy is Best-Fit for Your Business?

Growth and expansion are factors that most companies consider crucial for progress. Companies can achieve these through several strategies. However, they must establish what their goals and objectives are first. It provides a base for the strategy used to achieve growth. Some companies try to expand into their active areas, while others go beyond those.

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What is Unrelated Diversification? A Conglomerate Approach to Diversification

Diversification is a marketing entry strategy that companies use to expand to new markets and products. This strategy allows companies to increase their profits by expanding their operations. However, it involves moving away from existing core activities. This way, companies can offer new products to a new customer base. With diversification, companies can expand their

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How to Achieve Focus Strategy?

Most companies operate in a competitive market, where it is crucial to outperform the competition. It can come from several factors, known as a competitive advantage. Usually, this process involves attracting customers through unique characteristics or features. For example, companies may use lower costs or better quality to outperform competitors while increasing business. Competitive advantage

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How to Achieve Differentiation Strategy? – Explained

Companies operating in a competitive advantage will always strive to achieve a competitive advantage. It includes the factors that allow them to produce goods and services better or at a lower rate. These factors contribute to attracting more customers while increasing a company’s sales. Therefore, competitive advantage is one of the essential aspects of achieving

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