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Business Studies Factsheet: 30. A2 Business Strategy

  • Business Studies Factsheet: 30. A2 Business Strategy

Business Studies Factsheet: 30. A2 Business Strategy

  • Price £3.00
  • Code: BSA-FSPI-030
  • • The globalisation of business, a higher rate of product obsolescence (due to rapid technological developments) and the increased 
    sophistication of consumers, has led to increased competitive pressures within all markets. 
    • This means that companies can no longer operate on a purely functional basis i.e. individual departments (marketing, finance, production, 
    purchasing etc) cannot be allowed to act alone and follow their own agenda. 
    • Firms must adopt an integrated approach to ensure that their resources are used effectively to identify, research and facilitate the needs 
    of the customer. 
    • Having an effective management information system is vital to the success of integrating the functional areas within the business. 
    • The procurement, implementation and operation of such systems are a time consuming and expensive business. 
    • Organisations need to develop effective business strategies to ensure that management information systems live up to their billing.