Strategy Strategy refers to planning and goal setting

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Reference no: EM132208600

Strategy Strategy refers to planning and goal setting to reach long-term and big-picture objectives, as opposed to tactics, which refers to the execution of strategies. For example a business might create a brand strategy that targets affluent consumers to segment the market, creating a low-volume, high-margin path to profitability. The tactics to create this brand image would include efforts such as setting higher prices to create perceived value and selling only in upscale retail locations.

Corporate Strategy Corporate strategy focuses primarily on profitability. Corporate strategies include: creating an organizational structure, debt reduction to improve the company’s balance sheet, diversifying the product or service line to increase profits or decrease dependence on one product, merging with or buying another business to create economies of scale, accessing new technology and increasing sales volume, reducing overhead costs to increase profit margin, retooling to decrease production costs and reducing overall operating expenses.

Explain how the two strategies will intersect to produce a successful plan for McKesson Corporate Company.

Reference no: EM132208600

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