Business Finance Homework Help

Simply stated, strategic management is a set of managerial decisions and actions that help determine the long-term performance of an organization.

A strategy is a comprehensive approach to how an organization will achieve its mission objectives.

Michael Porter of the Harvard Business School has championed a key element of strategies in what he called Generic Strategies. He believed most businesses could follow one of the following Strategies: Cost Leadership, Differentiation Strategy, and Focus Strategy.

Watch the following video to gain a better understanding of these Generic Strategies.

Porter’s Generic Strategies: How to Stay Competitive (YouTube, 03:19)

Corporate-Level Strategies are ways a company, as a whole, can be more competitive. These strategies can include growth, stability, retrenchment, alliances, portfolio management, parenting, and diversification approaches.

Watch the following video by ERAU professor, Dr. Peter O’Reilly to gain a better understanding of Corporate-Level Strategies.

Transcript (DOCX) Download Transcript (DOCX)

Business-Level Strategies are meant to allow a firm to choose a strategic course of action that would lead them to be more competitive. These strategies give meaning to achieving sustainable competitive advantage. 

Watch the following video by ERAU professor, Dr. Peter O’Reilly to gain a better understanding of Business-Level Strategies.

Transcript (DOCX) Download Transcript (DOCX)

Post and Discuss

After reviewing the information above, appraise which Business-Level or Corporate-Level Strategy JOHNSON & JOHNSON Company is utilizing and why. Note: Companies often use more than one strategy, so you may want to analyze a particular division, product, or service within your chosen company.