Business Strategies (Grade 12 NSC Matric Business Studies): Flashcards
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Practise the cards
10 cards from this deck
Four main categories of business strategies
Four main categories of business strategies
Integration, intensive, diversification, defensive
Integration strategies main purpose
Integration strategies main purpose
Expand influence/control within industry supply chain
Forward vertical integration definition
Forward vertical integration definition
Taking control of distributors, moving towards consumers
Backward vertical integration definition
Backward vertical integration definition
Taking control of suppliers, moving up supply chain
Horizontal integration definition
Horizontal integration definition
Taking control of competitors at same industry level
Market penetration strategy
Market penetration strategy
Increase sales of current products in existing markets
Market development strategy
Market development strategy
Sell existing products in new markets/geographical areas
Product development strategy
Product development strategy
Introduce new products into existing markets
Concentric diversification definition
Concentric diversification definition
New related products for new customers
Retrenchment strategy definition
Retrenchment strategy definition
Reduce operations/costs via staff cuts & cost measures