Answer to Question #317325 in Management for king

Question

Use TFG brands as examples to explain the various business level strategies for creating and sustaining competitive advantage.

Answer 1

There are three types of business-level strategies that you can use in your business. Each one caters to an increase in profit and company unity.

• Corporate level strategy: This strategy is implemented at the highest level of the company. Company executives look at ways to improve and expand the company. They might identify additional markets they can enter.
• Business level strategy: This strategy focuses on how corporate aspirations will be implemented within individual company settings.
• Functional level strategy: This strategy focuses on the individual tasks of departments and employees in working toward corporate goals.

TFG Limited uses all the three business level strategies through;

Cost leadership strategy

Low-cost strategy

Differentiation strategy

Integrated strategy

It does that through their various strategies and goals such as;

Our brands will optimise their supply chain capability, including their suppliers, buying processes and quick responses.

We will optimise the flow of goods from source to customer in order to enhance the customer experience. 

We will enhance ROCE by optimising profitability and capital management. 

We will be the leading lifestyle retailer in Africa whilst growing our international footprint.

We will deliver a customer-focused, digital omnichannel ecosystem.

We will deliver superior customer and employee experiences and engagement across our retail brands.

We will leverage data science to improve our customer experience and engagement across all our retail brands.