September 2021
Intermediate to advanced
414 pages
11h 3m
English
Content preview from The Financial Times Guide to Strategy, 5th Edition
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1
THE USE AND ABUSE OF STRATEGY
Strategy can be valuable both at the Business Unit level, and at the Corporate level, that of the whole firm
Business Unit Strategy
The most neglected use of strategy insights is for managers who are running clearly defined businesses. If you are one of them, strategy can:
- help you define the different parts of your business, where you need to do different things to be successful
- show in detail where you make the most profits and cash, and why
- understand the customers’ perspective and why they buy from you or from competitors
- indicate where you should concentrate most effort and cash
- work out the extent of likely profit improvement opportunity, from changing product/customer mix, prices and/or cutting costs
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