BUSINESS LEVEL STRATEGIES

Business Level Strategies
An organization’s core competencies should be focused on satisfying customer needs or wants inorderto achieve above average returns. This is done through Business-level strategies. Business level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy is concerned with a firm’s position in an industry, relative to competitors and to the five forces of competition discussed above.

Customers are the foundation of an organization’s business-level strategies. Who will be served, what needs have to be met, and how those needs will be satisfied are determined by the senior management.

Who are the customers?

Knowing one’s customers is very important in obtaining and sustaining a competitive advantage. Being able to successfully predict and satisfy future customer needs is important. Perhaps one of the Tata’s mistake in manufacturing Namo was understanding who was their real customer and what they wanted.
How to satisfy customer needs?

Organizations must determine how to bundle resources and capabilities to form core competencies and then use these core competencies to satisfy customer needs or create value for them.

Business level strategies detail actions to be taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific individual product or service markets. Having selected a market, the organization must develop a plan to be successful in that market. Business strategy therefore looks at how the organization can compete successfully in the individual markets that it chooses to operate within.

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