After reading this article you will learn about the classification of plans. Class # 1. Classification on the Basis of Levels in the Organisation: Similar to objectives, plans are made for different organisational levels. Plans classified on this basis are discussed below: 1. Strategic Plans: Strategic plans are made to achieve the overall organisational goals. They achieve strategic goals through [...]
After reading this article you will learn about:- 1. Causes of External Growth Strategy 2. Merits of External Growth Strategy 3. Limitations. Causes of External Growth Strategy: 1. Economies of scale: Small firms have limited resources (financial and non-financial) and generally produce goods at high cost. They buy in small quantities and, therefore, pay high price for materials and other [...]
After reading this article you will learn about:- 1. Meaning of Strategy 2. Features of Strategy 3. Styles of Making Strategy 4. Levels/Types 5. Evaluation. Meaning of Strategy: Strategy implies a course of action that defines and achieves organisation's objectives and implements its missions. Strategy is a means to achieve the goals. In a broader perspective, it represents organisation's responses [...]