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Effectiveness of Strategy at Subsidiary Level - Essay Example
The contents of the paper comprise the case study of ACTAVIS BULGARIA EAD Sofia's strategy development and implementation. It is elaborated in the paper that strategy is not a simple concept; instead, it pertains to various economic, social, legal forces. Business organisations can only be successful by following a strategy, which is feasible according to the business environment…
It is the method of aligning all the activities being undertaken in the organisation such as management, marketing, research and development and Computer information system in a prescribed way to achieve the goals of the organisation.
The first step namely the strategy formulation involves the development of the business mission, evaluation of the opportunities and threats faced by the business organisation in the business, by using tools such as SWOT analysis, examining the strengths and weaknesses of the business, determining the long term objectives of the business and designing the new strategies to eke in the process of achieving the new targets. It also include the processes to determine the investment direction, the business markets to be addressed, extension of the operations of the business, limitations faced by the business in order to undertake the business activities. Strategy formulation also helps the business in deciding about the matters to be addressed on priority basis. There is not any organisation in the world which has unlimited resources. Therefore the business organisations need to evaluate which projects are important and need investment. ...