Formulate a distinction between business strategy and operations strategy and then discuss both concepts in greater detail.
Business Strategy and Operations Strategy:
Strategy, in its simplest terms, is the series of decision made by a firm as to WHAT they should be working to accomplish. The strategy outlines the goals and aims of the company, generally in support of a vision statement for the type of business the firm wants to be. A business strategy, then, is the strategy for what the firm desires to accomplish at the enterprise level. Operations strategy, meanwhile, is the strategy for HOW the organization will go about achieving their business strategy (i.e. what steps do they need to take in order to turn the business strategy into a reality?).
Answer and Explanation:
Let's consider the business and operations strategy for Nike, Inc.
At the highest level, the founder of Nike set a business strategy for the company...
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fromChapter 3 / Lesson 6
A business may employ different business strategies (or plans) to achieve its organizational goals. Define a business strategy and learn about its different types, including cost, differentiation, and focus strategies.