Assignment Task: Strategies discussed in this module can represent a new beginning for many firms, especially if managers and employees in the organization understand and support the plan in action.
Task: Read more about the type of strategies in Strategic Management. Give a specific example for each strategy by citing a specific business establishment who used the strategy. Explain how the strategy contributed to the success of the company. What are factors that drove the company to adopt the strategy? Explain in detail the benefits (include interpreted statistics) derived from the strategy. Consider yourself as the consultant of the companies; based on the present situation of the company, what recommendations are you giving?
a. Forward Integration
b. Market Penetration
c. Related Diversification
d. Product Development