choosing stategic direction Flashcards
To fully understand this part of business
1
Q
what is strategic direction?
A
the general path that a business takes based on its mission and atchiving its objective .
2
Q
what are the key factors to focus on with regards to stratigic direction.
A
market and product
3
Q
what factors effect a business’s strategic direction, in relation to their market
A
the type of product sold-impact what market a business desided to operate within
level of competition-business’s will favour markets with low levels of competition
external factors- politics, social, economical factors all can create opportuinity in certain markets
all these effect a business’s strategic direction in relation to its chosen market
4
Q
what factors effect a business’s strategic direction, in relation to their products
A
competitors
