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MGTA01H3 (583)

Ch 6&7 Notes

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

www.notesolution.comOperational Plans: set short-term targets for daily, weekly, or monthly performance (middle- and lower level managers) Levels of Strategies: 1) Corporate-Level Strategy: Identifies the various businesses that a company will be in, and how these businesses will relate to each other Concentration Strategy: focusing the company on one product or product line o Examples: McDonalds o Advantage: company can focus on its strengths o Disadvantage: risk of having all the eggs in one basket Growth: internal activities to grow use a number of strategies listed below o Market Penetration: boost sales of present products by more aggressive selling in the firms current markets o Product Development: developing improved products for current markets o Geographic Expansion: expanding operations in new geographic areas Integration: external activities which result in growth o Horizontal Integration: acquiring control of competitors in the same market with the same product o Vertical Integration: owning the inputs to the firms processes or the channels through which the products or services are distributed Diversification: expanding into related or unrelated productsmarkets o Related diversification vs. conglomerate diversification Investment Reduction: reducing the a companys investment in one or more lines of business o Retrenchment: reduction of activity and operation o Divestment: selling or liquidation of a part of a business 2) Business-LevelCompetitive Strategy: Identifies the ways a business will compete in its chosen line of products or services Cost Leadership: becoming the low cost leader in an industry Differentiation: a firm seeks to be unique in its industry Focus: selecting a market segment and serving the customers in that market niche better than competitors www.notesolution.com
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