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Grand Strategy Identification

Grand Strategy Identification

Marcie Ann Mills Greer

BUSM 500

Grand Strategy Identification 2

Abstract

Grand strategies, often called master or business strategies provide rudimental direction for strategic actions. They are the substratum of coordinated and sustained efforts directed toward achieving long-term business objectives They provide rudimentary direction for categorical strategic actions and functional tactics. Some grand strategies are utilized together and reinforce each other and some are conventionally employed singly. This is the "sizably voluminous picture" view of the organization and includes deciding in which product or accommodation markets to compete and in which geographic regions to operate.

Grand Strategy Identification 3

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Growth strategy involves fixating on incrementing market share in subsisting markets. Growth strategies are designed to expand an organization's performance, conventionally as quantified by sales, profits, product commix, market coverage, market share, or other accounting and market-predicated variables. During the growth strategy the company will try to dominate a market and maximize profits.

One growth strategy a company may try is taking their existing consumer base and trying new products they may like or providing products consumers already buy from their competitors. Diversifying into incipient products and accommodation lines can provide an efficacious path to expeditious growth, as you sell more products to subsisting customers or establish incipient markets.

For Example, Starbucks is best known for coffee but popular as coffee is, it certainly isn’t to everyone’s taste. To maximize the market share, Starbucks offers a broad range of drinks, from orange juice, smoothies, to tea.

The most risky strategy is diversification. That is when a company is trying to increase their sells by launching new products into the market. It can be very expensive and time...