Strategic importance of functional level strategies as effective tools for the achievement of organizational goal.
Archives of Business Research, 5(12), 338-348.
Present business environment is characterized by high levels of competition, dynamism and technological sophistication. This is especially challenging to organizational managers since they have to design and implement strategies that can achieve and sustain competitive advantages. Consequently, the topic functional level strategy plays a pivotal role as organizations aim at gaining industry leadership. This study set out to investigate functional level strategy as a tool for achieving organizational goals. Gaining insight from existing literature and theoretical models four hypothesis were developed and investigated through the survey of the strategic business units of selected financial organizations. Copies of well-structured questionnaire were administered. Findings revealed that there is a relationship between marketing strategy and customer satisfactions, the price of a product and consumer purchasing such product. It also indicated that effective productivity facilitation of the firm resources help expand the firm. The authors recommends that in order to be more competitive, organizational managers must be strategically aware of how effective control of the various functional departments in the organization help organization to be aware of customer needs and offer unique products and services that satisfy such needs.
Industry Forces, Competitive and Functional Strategies and Organizational Performance: Evidence from Restaurants in Istanbul, Turkey☆
Gültekin Altuntaşa Fatih Semerciöza Aslı Mertb Çağlar Pehlivanc
Procedia - Social and Behavioral Sciences
Volume 150, 15 September 2014, Pages 300-309
Each of industry forces, competitive and functional strategies and organizational performance has been subject to so many studies presented in literature. However, there is a lack of combination of all and consensus on the role of each in restaurant businesses. Thus, this study examines the relationships among industry forces, competitive and functional strategies and organizational performance within the context of “well-known branded” restaurants in Turkish hospitality industry. The study employs a questionnaire that evaluates the attitudes of restaurants of those themes in Istanbul, Turkey without any sampling procedure. Results indicate that competitive strategy of cost leadership is significantly related to bargaining power of suppliers. Functional strategy regarding the brand image relates significantly to the competitive strategy of differentiation. Organizational performance is in a significant relation with functional strategies of human resources and information technologies.
Strategic Management for Competitive Advantage
by Frederick W. Gluck, Stephen P. Kaufman, and A. Steven Walleck
From the HBR Magazine (July 1980)
For the better part of a decade, strategy has been a business buzzword. Top executives ponder strategic objectives and missions. Managers down the line rough out product/market strategies. Functional chiefs lay out “strategies” for everything from R&D to raw-materials sourcing and distributor relations. Mere planning has lost its glamor; the planners have all turned into strategists.
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