Hofstede’s cultural dimensions theory helps address the behavior or interactions between cultures. It is incorrect to group an entire community or country into one group and expect the same behaviors from all individuals in the group. This article discusses Hofstede’s cultural dimensions model and explains how it can help avoid stereotyping and wrong assumptions. Geert …
Definition: A corporate level strategy is a multi-year and multi-tiered plan that outlines an organization’s business goals. This strategy defines the organization’s direction in the following years, such as expanding the business, increasing the profit margin, or wrapping up business from a certain market segment. According to Michael Porter, a business can have three levels …
Definition: A functional level strategy is a day-to-day plan for organizing routine operations or activities to support an organization’s business and corporate strategies. Functional level strategies are concerned with tactical decisions, such as human resources, production, operations, marketing, research, development, etc. Each functional department has its own function-level strategies. A functional level strategy ensures optimum …
Definition: A business level strategy defines a business’s goals and policies to deliver value to customers and have a competitive advantage over competitors. It determines the direction of the business, establishes its brand, and defines how a business serves its customers. These strategies help businesses satisfy their customers, avoid competition and achieve an edge over …