Asked by Charisma Bennett on Apr 28, 2024
Verified
Functional strategy addresses the question: "How are we going to compete for customers within this industry and market?"
Functional Strategy
A strategy that guides activities within one specific area of operations.
Customers
Individuals or organizations that purchase goods or services from a business.
Industry
A group of companies or organizations that produce and provide similar products or services, often categorized within a sector of the economy.
- Comprehend the differences among corporate, business, and functional strategies.
Verified Answer
ST
Steve TorresApr 29, 2024
Final Answer :
False
Explanation :
Functional strategy is concerned with how each part of the business is organized to deliver the corporate and business-unit level strategies in terms of resources, processes, and people. The question "How are we going to compete for customers within this industry and market?" is typically addressed by the business level strategy.
Learning Objectives
- Comprehend the differences among corporate, business, and functional strategies.
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