Business Strategies

Business Strategies: Flexibility, cost, delivery, quality, service, product line

Business Operations Management

In the present era of mass customization, the business industries have become very competitive and complex. In order to maintain the competitiveness of the firm, the business organizations are using different kinds of strategies that provide competitive advantages to the firms. Some of the important strategies are flexibility in design & volume, low cost, delivery, quality, after-sales service, a broad product line.

Flexibility in Design and Volume: This strategy can be understood as the ability of a firm to increase and decrease the production facilities and rate in a profitable situation (Wheelen & Hunger, 2001). This strategy is mainly used by Unilever, one of the biggest consumer goods companies. The mission of Unilever is to follow the success of growth. The company provides a large number of consumer goods to the customer with different variety and packaging. By following this strategy, the company has become able to acquire innovation in the product line of Unilever and maintain its profitability (A vitality mentality, 2008).

Low Cost Strategy: Low cost strategy means keeping the prices of product low in comparison to the competitors. Wal-Mart is one of the biggest companies in the retail industry that is following the strategy of low cost and provides luxury services to the middle class customer within reasonable prices (Kirklin, 2006). According to this strategy of the company, Wal-Mart's main slogan is Wal-Mart: Always low prices and it has lowest prices compared to other large retailers such as Target (Bianco, et al., 2003). The advertisement of Wal-Mart on television and newspaper, always create awareness among the consumer about the discounts and low cost of the products on Wal-Mart.

Delivery Strategy: Delivery strategy leads the fastest delivery of the product to the consumers and save both their time and money. McDonald's is...