概要：
This lecture focuses on business/functional strategies developed by strategic business units. For example, the CEO of GM develops a corporate strategy, and managers of each division (Cadillac, Buick, Chevy, Saturn…) develop business/functional strategies. Basically, business/functional strategies should mention how each department should compete. Four different classes of strategies are discussed: penetration, product development, market development, and diversification. A manager must also decide whether to be a mass marketer or a niche player; to be a first mover or a late mover; and to seek efficiency or differentiation.
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