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  • 11-01-2021
  • Entrepreneuriat

What are the different business strategies?


What are the different business strategies?

 A business strategy is the expression of a business plan.  It is a means of defining the goals of the company through specific objectives and resource allocation priorities (material, immaterial, human and financial).  There are different types.

 Since then, the corporate world has developed different types of strategies.  Global strategies with specialization, diversification, integration and outsourcing.  Marketing strategy of concentration or differentiation, with different means, especially with the explosion of the Internet and new technologies.

 What are the different business strategies?

 The primary goal of a company's strategy is to distinguish it from its competitors.

 The overall strategy

 The overall (or corporate) strategy concerns the whole company.  There are four types of global strategies:

 - Specialization (do a single activity)

 - Diversification (doing several related or unrelated activities)

 - Integration (do everything, alone)

 - Outsourcing (make-do)

   The specialization strategy

 Specialization consists of focusing on a single profession in which to deploy one's resources and skills.

 This strategy takes 3 forms:

 - Market penetration: focus on the combination of existing products / existing markets to improve the company's position in its current markets

 - Market expansion: identify and exploit new markets for existing products

 - Product development: develop new products that target existing markets.

 Some advantages of the specialization strategy?

 - Develop a strong competitive advantage

 - Achieve economies of scale linked to the experience acquired

 - Develop a positive image of specialist in his field

 Its limit:

 It presents risks in the event of saturation of demand, of the appearance of products on the market.

 The innovation and technology strategy

 To fight against competition, a company can distinguish itself from others thanks to technological innovations and thus obtain a competitive advantage.

 Technological innovations can make it possible to differentiate oneself from competitors.  It is therefore a strategy compatible with the strategy of differentiation.

 differentiation strategy

 This will involve the company seeking to differentiate itself from what its competitors offer in order to offer a unique offer on the market.

 The advantage over competing products can be commercial, qualitative, technical… The most important thing is that the consumer is aware of the added value of the product / service.  He must perceive the value creation brought by the company.  For this reason, we must communicate massively in this direction.

 The cooperation strategy

 The company, instead of facing off against its competitors, may decide to cooperate with them so that everyone can enjoy advantages.

 Cooperation will allow everyone to specialize in one activity and to cooperate with other companies in other areas of activity. This is a plus for any company that wants to prosper.

 In short, the company is the legal form of the company.  Any business is created with the aim of growing economically, socially and politically.  For that it needs strategies to deploy and succeed.  As we at weblysoft are an established company and constantly seeking to become, join us to help each other together.  We with our digital products (#website, #mobile application, #seo and you by the satisfaction, recommendation and advertising of our various products and services.

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