Strategic Cost Management (SCM) is a form of management accounting that focuses explicitly on the relationship between a business’s strategic goals and its resources, costs, and capabilities.
Strategic direction refers to a course of action that leads to the achievement of the goals of an organization. The broad roadmap outlines how an organization should move forward to reach its vision, mission, and long-term objectives.
A technology strategy is an overall plan that includes all technology decisions, from hardware and software to IT support, digital transformation initiatives, and long-term investments in emerging technologies.
Operations strategy is the plan that outlines how an organization will use its resources effectively to achieve its business goals. What are its types, model and examples?
In Forward integration a company expands its operations to control its products’ direct distribution or supply. In Backward integration a company takes control of its supply chain by acquiring or establishing operations that produce raw materials.
An integration strategy refers to a company’s approach to aligning its operations with another company. Horizontal and Vertical are two main types of integration strategy.
Strategic options refer to different plans a business can follow to achieve their objectives, involving decisions on the direction and scope of an organization over the long term.
A customer intimacy strategy emphasizes tailoring products, services, and the overall customer experience to fit customers’ individual needs and preferences.
A joint venture is a strategic partnership where two or more businesses join to develop a new entity while retaining their legal statuses for a specific business purpose or activity.
A strategic partnership is a mutually beneficial arrangement between companies with aligned interests to give each company a strategic advantage they might not otherwise have.
