About This Chapter
Who's It For?
Anyone who needs help learning or mastering introductory business strategy material will benefit from the lessons in this chapter. There is no faster or easier way to learn business strategy basics. Among those who would benefit are:
- Students who have fallen behind in understanding the types of strategies businesses use to meet their bottom line
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning business (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about business strategy
- Students who struggle to understand their teachers
- Students who attend schools without extra business learning resources
How It Works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Introduction to Business Strategy chapter exam.
Why It Works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the Introduction to Business Strategy chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any business strategy question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students Will Review:
This chapter helps students review the introductory business strategy concepts covered in a standard business course. Topics covered include:
- The three dimensions of organizational strategy
- Steps in a SWOT analysis
- Information and societal business strategies
- The role of company mission statements
- Internal and external factors driving organizational change
- Market and non-market business strategies
- Business process modeling and quality management
- Strategies used to combat activist groups and influence legislation
- Organizational downsizing
- Political and legal business strategies
- Product development strategies
- Retail distribution strategies
1. Different Types of Business Strategies
Businesses are in business to make money. In order to accomplish this objective, a business may employ different business strategies in order to win over customers and generate profit. In this lesson, you'll learn about some of the common strategies.
2. Strategy and Organizational Structure
In this lesson you will learn the three different elements to organizational strategy and which organizational structures work best for each of these elements.
3. What is a SWOT Analysis?
In the business world, as in many other places, decisions aren't made lightly. Rather, management spends a long time considering the pros and cons of every choice. This lesson will teach you about one of the key ways they do that, the SWOT analysis.
4. Company Mission Statements: Definition & Examples
This lesson explains the role of a mission statement in an organization. Learn the definition of a mission statement, how they are created and how they are used.
5. How Internal and External Factors Drive Organizational Change
Managers must recognize and respond to all factors that affect their organizations. This lesson describes how the internal and external environments of an organization drive change within the company.
6. Strategies of Market & Non-Market Business Environments
Companies must employ market and non-market business strategies in order to satisfy stakeholders and be profitable in the workplace environment. In this lesson, you will learn the specific strategies that lead to profits and stakeholders' support.
7. Businesses' Strategies: Information, Societal, Political & Legal
Businesses have to influence their stakeholders to support organization objectives. They can accomplish this by utilizing informative, societal, political and legal strategies through various tactics. Learn about these strategies and more in this lesson.
8. Business Strategies: Market Advantages Provided by Information Systems
What business strategies might an information system use? We'll take a look at the concepts of business process modeling, process re-engineering, total quality management and competitive advantage and see how they relate to information systems.
9. Business Strategies Against Activists
In this lesson, you will learn the strategies businesses use against activists including: grassroots efforts, gaining community public sentiment or being socially responsible, grand non-market strategies, news media relations and advocacy advertising, etc.
10. Business Strategies for Influencing Congress & Regulatory Agencies
In this lesson, you will learn business' strategies for influencing Congress and regulatory agencies are campaign contributions, lobbying and grassroots lobbying.
11. Organizational Downsizing: Definition, Strategies & Business Impacts
In this lesson, you will learn why organizations choose to downsize their operations and about the implications that organizational downsizing has on organizational members.
12. Product Development and Business Growth: Process & Strategies
Product development is an essential part of any company's growth strategy. It allows for growth in sales and market share. This development, though, is a finely tuned process that we will discuss in this lesson.
13. Retail Distribution Strategies
Retailers, such as department stores, discount stores and boutiques, sell most consumer products. In this lesson, you'll learn about different retail distribution strategies that manufacturers employ to get their products in front of consumers.
14. Bootstrapping: Definition, Method, Techniques & Example
Entrepreneurs are often forced to seek creative methods of funding their start-ups. In this lesson, you will learn about a financing option called bootstrapping and how it is used.
15. Bottom Line in Business: Definition & Concept
Have you heard someone use the phrase 'bottom line' and wondered what it meant? Surprisingly, when people refer to the bottom line, they are actually talking about the bottom line of the income statement. In this lesson, we will review the some of the most common categories in an income statement and calculate the bottom line.
16. Business Sustainability: Definition & Concept
Business success today depends not only on corporate earnings, but on a company's broader impact on people and the environment. Learn about the meaning and types of business sustainability in this lesson.
17. Functional Design: Definition, Process & Example
A functional design provides a specification of the functions of a product or service on which the designers and end-users have agreed. This lesson looks at the steps of a functional design in the context of software development.
18. Historical Cost: Definition, Principle & Advantages
In this lesson, we will look at historical cost and how it is used in business. In particular, we'll examine the meaning of the term, its guiding principle and advantages. At the end of the lesson, you'll have the chance to test your own knowledge of historical cost and how
19. Materials Planning: Process, Overview
In this lesson, we will use the concept of materials planning to find the information that you would need to complete a job or production process efficiently and profitably. You will learn about budgeting and inventory control.
20. Modernization Theory: Definition, Development & Claims
There are many theories on how nations develop. This lesson will explore the origins, developments, and claims of several versions of modernization theory.
21. Nominal Terms: Definition & Overview
The same number or value can give you greatly different information depending upon how it is derived. In this lesson, you'll learn about nominal terms in business and economics. You'll also have a chance to take a short quiz.
22. Nominal Wage: Definition & Overview
Just because you received a raise, it doesn't mean you have more purchasing power. In this lesson, you'll learn about nominal wages and related concepts.
23. Objective Function: Definition, Principle & Example
This lesson will define the objective function, the principle behind its use, and how it is used in business. We will provide examples of how to use the objective function.
24. Product Assortment: Definition & Strategy
Companies often offer a variety of products to consumers. In this lesson, you'll learn about product assortment and the related strategy companies can use.
25. Cost Leadership Strategy: Definition & Examples
Lower prices tend to attract customers, but offering lower prices is just one piece of a puzzle on the business end. In this lesson, we'll learn how companies can offer lower prices than their competitors and still stay in business.
26. What is Digital Strategy?
In this video, we'll explore a new concept in business planning: digital strategy. We'll look at why businesses should develop a digital strategy and what the digital strategy should include.
27. What is Growth Strategy? - Definition & Examples
This lesson will define growth strategies. It will also provide simple examples of how growth strategies can be used by a company looking to expand its business.
28. What is Strategic Sourcing? - Definition & Process
How do businesses make purchasing decisions when there are multiple sources for items? What factors enter into the equation for optimizing value? In this lesson, we'll define strategic sourcing and discuss the process in a corporate setting.
29. What is Neuroeconomics? - Definition & Examples
Read this lesson to learn how economists are now including emotions when analyzing economic situations and people's reactions to them. You'll see that the emotional response can sometimes be different from the expected economic response.
30. Carl Von Clausewitz: Biography, Theory & Quotes
Carl von Clausewitz is known as one of the most significant military strategists in history. His writings and theories on military doctrine set the groundwork for many nations' military structure and are still used today.
31. Small Business Project Management: Planning & Tools
A small business has some unique needs with regards to project management. The lesson describes some of the planning techniques and tools that a small business can employ to be succesful in their projects.
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Other chapters within the Business Strategy: Help & Review course