Business Strategy Summary

Superior Essays
This week’s objectives are, estimate the sustainability of long-term business operations, explain how the global market affects business strategy, and construct a long-term strategic management plan for sustaining organizational performance.
Corporate growth strategies are geared towards increasing sales, assets, and or profits. In a society that is constantly changing and a market with increasing competition, businesses must expand in order to survive. The two basic growth strategies are concentration and diversification (Hunger and Wheelen, 2015). Within concentration are both vertical and horizontal strategies, which make most sense for companies whose current product lines have growing potential. Companies usually resort to diversification
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Business sustainability can show whether a company can utilize existing practices without putting future resources at risk. The company’s leadership should consider the durability and imitability in determining sustainability of operations. Also topics included Risk management, which this gave the team a clear understanding that every business involves some type of risk. Also the team learned that it is important before any business take on risk, it would be wise to assess the risk, evaluate the risk and have risk measures in place to prevent threats and protect the company. Lastly, the team learned that Sustainability helps the business also stay focused, ahead, and at the top of their industry. For business sustainability, the business must often review their financial, social, and environmental risks, create strategic plans, and carry them out while keeping the integrity of the …show more content…
A lot of businesses are expanding globally. There are a lot of prominent businesses that have increased their revenue 100% by expanding to other countries to sell their goods and services. In some instances, other countries buy the products more than Americans, so the demand in other countries is higher than the demand in the United States. Becoming familiar with business organizational performance was another topic that stood out to me. Planning and performing at a level of prestige is imperative for any business and/or organization. Overall, there were not any topics we struggled with this week after discussing them amongst the team.

Reference
Hunger, J. David and Wheelen, L. Thomas. (2015). Concepts in Strategic Management and Business Police: Achieving Sustainability. 12e. Published by Prentice

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