In: Operations Management
Discuss the nature and role of the following business functions in strategy implementation.
The Strategy consists of 3 broad titles
Grand Strategy: Consists of the strategic applications which change the operations of a firm once in for all which can be a change in a strategic partner or addition of a channel partner into our system.
Generic Strategy: These are generally business-level strategies concerned with the competition and the market position of the organization.
Operational Strategy: This kind of strategy means departmental strategies to change in the internal workings of the organization. These include Sales& Marketing, Finance & Accounting & Human Resouce.
The abovementioned departments are all part of Operational Strategy
Sales & Marketing- This Department is concerned with product promotion and pushing the product into the market for consumption which leads to revenue generation. This department brings in the revenue for the organization. It is also responsible for long term brand creation of the organization.
Finance & Accounting- This Department is responsible for maintaining & monitoring how much money goes into the business and how much it is bringing in revenue. This also manages the money of the organization as to how much the departments consume and how much their ROI (Return on Investment) results.
Human Resouces - The abovementioned departments would not work well if this department fails in its job, as human resources are vital to any organization choosing the correct personnel for the correct department lies in this department. This is also important in maintaining structure and future planning in the organization.