MBA Functional Strategies and Implementation

Functional Strategy is the strategy or organizational plan adopted by each functional area in the value chain like marketing, production, finance, human resources, IT etc. to implement the overall business or corporate strategy/vision for achieving organizational level objectives. The functional strategy of a company is customized to a specific industry or strategic business unit (SBU) and is used to back up other corporate and business strategies. Each department develops certain objectives, which is to be enforced by employees, and aids in the achievement of final organizational goals. Strategies determine the results, performance, and goals that have to be achieved. Generally, strategies are developed on three levels: corporate, business, and functional.