Strategy
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Strategy / Strategie
In the market economy, the term strategy is used to refer to thinking in terms of competitive advantages.
Strategic planning aims to discover what potentials for success the company, or rather the strategic business unit has to offer, and what new potentials for success the firm should develop. It seeks to discover whether it is doing the right thing for the right customers. Operative management should then exploit the available potentials for success, that is to say convert them into contribution margins and profits, and develop the new potentials.
A strategic business unit is a definition, for organisational convenience, of mostly homogeneous possible fields of activity, which are typified by common strategic characteristics and for each of which an independent product-market-strategy can be worked out and put into practice.
Functional area strategies serve to put the corporate strategy into practice at the level of individual areas of business such as marketing, R&D, personnel, finance, etc. They ensure that all the functional areas with an influence on strategy make their contribution to the implementation of the overall strategy, that potentials for rationalisation are realised and additional capacity potentials are developed.
from: IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.)
