Chapter Name: Explain the role of the various functional strategies in business performance
Description:This chapter covers the different functional areas (e.g., marketing, operations, finance) and their strategic roles.
Purpuse:To highlight the importance of each function in contributing to overall business performance.
Rational:Integrated functional strategies lead to cohesive operations and enhanced performance.
Chapters Topics
An explanation is given of the elements of a strategic plan.
Break down the main components of a strategic plan (e.g. financial, marketing, operational strategies) and explain their roles.
Alternative functional structures are identified within a new venture.
Describe different organizational structures (e.g. flat, hierarchical, matrix) suitable for a new venture.
An explanation is given of how key elements operate within each alternative structure.
Show how communication, accountability, and task execution differ across various business structures.
Reasons for choosing particular organisational structures are described in terms of a particular business venture.
Justify the choice of structure (e.g. centralized vs. decentralized) based on the size, industry, or goals of the new venture.