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Business Plans For Dummies, 3rd Edition
book

Business Plans For Dummies, 3rd Edition

by Paul Tiffany, Steven D. Peterson
March 2022
Beginner content levelBeginner
416 pages
11h 44m
English
For Dummies
Content preview from Business Plans For Dummies, 3rd Edition

Chapter 14

Thinking Strategically

IN THIS CHAPTER

check Exploring a low-cost leadership strategy

check Applying differentiation strategies

check Zeroing in on a focus strategy

check Using strategy to establish your market position

check Coming up with your own strategy

In this chapter, we help you formulate a strategy for your company that gives life to your basic mission and puts you on the road to goal achievement (see Chapter 4 to find out more about missions and goals). We introduce several basic kinds of strategy that different businesses can apply across many industries. These off-the-shelf strategies include efforts to

  • Be the low-cost provider
  • Differentiate your products
  • Focus on specific market and product areas

We also talk about several other general strategic alternatives and answer a variety of important planning-related questions, such as these:

  • What does it mean to become more vertically integrated as a company?
  • What are the pros and cons of outsourcing a part of your business operations?
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Publisher Resources

ISBN: 9781119866374Purchase Link