Question

Describe the business-level strategies, a Firm can pursue in a mature industry to maximize its profitability. Sustain with examples.

Answer 1

Business level strategies are very much important for an organization to improve and do better with time based on the results of the organization in the past. I believe that this strategies are actually important for the organizations to adopt and have better results in the future. The strategies are:

1. Effective leadership - The leadership is a very important aspect and an organization needs to have a leader who will propose solutions and strategies based on the industry and make sure that the organization achieve success to quite an extent.

2. Differentiation Strategy - Organizations have to be effective in order to differentiate themselves from the crowd so that organization is benefitted and customers understand and value this difference and reach out to the organization.

3. Cost Effectiveness - I believe that cost and pricing strategies of an organization plays a very important role in terms of a business because of the cost is well planed based on the knowledge of the competition, then the organization will achieve success or else it will be difficult for them in this case.