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Question
What kind of strategic decisions are taken by business organisations?
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Solution 1
Strategy refers to a broad outline of the business of an organisation. It has three major objectives:
- To determine the objective.
- To decide the future course of action.
- Appropriate allocation of objective for the achievement of the objectives.
- business organisation is most likely to undertake the following strategic decisions:
- Deciding about the line of business it should take.
- Deciding about the position that the company aims for in the existing market.
- Deciding on whether or not to expand the products.
- Deciding about the prices of the products.
- Deciding about the advertisement policy.
Solution 2
Business organisations take following kinds of strategic decisions:
- Whether to continue in the same line of business or undertake new lines of business.
- Which channel of distribution to use.
- How to advertise the product.
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