Description
Hi I need some help with this assighnment please
The purpose for this assignment is for the student to review a business strategy of a current business. Analyze how that strategy accounts for all the dimensions of the business and how the strategy addresses the five elements in the business environment.
Assignment Steps
Choose a current US based business (this business will be used again in future week's assignments).
Complete the Business Strategy Worksheet using 175-word responses for each of the following questions:
- Discuss the main dimensions of the business and how they impact the business you have chosen.
- Review the generic strategies of business and which strategy is used by the business you have chosen.
- Explain how the strategy addresses each of the five elements in the business environment
- Discuss how these strategies may differ if your business was a nonprofit.
Cite at least two references, at least one of which must come from the University Library.
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Explanation & Answer
Attached.
Running Head: BUSINESS STRATEGY
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Business strategy
Name:
Institution:
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BUSINESS STRATEGY
My chosen business in the US is the fast food business a case study of MacDonald. These
fast food business do not operate in isolation, rather they operate in business environment
composed of, competitors, suppliers, regulatory agencies and of course the customers. For this
business to survive and sustain its growth it must adapt to the changes in the environment such as
interest rate, currency fluctuations and the economic downturns.
Main Dimensions and how it affects the business.
Cost: The cost and revenue are very important dimensions to consider, this is because it
determines the profitability of the business. Fast food should be flexible to reduce its cost during
the downturns. During periods of strong economic growth, the fast food may experiences the
increase the input of costs such as the raw materials and or even wages in order they can be in
position to maximize profits. Customers could frequently opt for fast food than cooking to save
time and also the money is available. On the other hand if the economic is down the input cost will
be high, which may likely cause some damage to the business for example laying of the em...
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