Course: BUSINESS POLICY AND STRATEGY
STRATEGIC PLAN PROJECT
ACTIVITY THREE
i. List and explain all the Grand (alternative) and Generic Strategies discussed in class
this week and give two (2) examples each in the Ghanaian setting.
ii. Having done a thorough analysis of your external and internal environments in
Activities one and two respectively, list four (4) alternative strategies you are likely to
pursue for the business selected for your project work and give the guidelines that
informed your decision on these strategies.
iii. Which of the Generic strategies are you likely to select for your strategic orientation
and why?
iv. Set a financial and a strategic objective to be achieved using the strategies in (ii) above.
1
, I. The types of Grand (alternative) strategies as well as their meaning and examples in
the Ghanaian setting are as follows:
a) Forward Integration: This is a business strategy that involves the company
expanding its capabilities or gaining control over distributors or retailers in order
to increase its market power. An example of this in the Ghanaian setting is KFC
now offering their own distribution service instead of relying solely on Jumia and
bolt foods.
b) Backward Integration: This is a business strategy that involves the company
expanding its capabilities to supply itself or gaining control of its supplies to
increase its market power. An example in the Ghanaian setting is a Bread Boutique
starting to cultivate their own wheat for baking.
c) Horizontal Integration: This is a business strategy that involves the company
gaining ownership or control of a competitor operating in the same business space.
An example which took place in the Ghanaian setting is the takeover of The Trust
Bank (TTB) by Ecobank Ltd.
d) Market Penetration: This is a business strategy that involves the company seeking
increased market share in terms of the product or service it deals in by putting in
greater efforts into marketing the product or making their product well known and
attractive to the consumer. An example in the Ghanaian setting is storm energy
drink signing Shatta Wale as a brand ambassador in order to appeal to more
customers.
e) Market Development: This is a business strategy that involves the company
introducing its products or services to an entirely new geographic area, or
demographic of people. An example in the Ghanaian setting is Burger king recently
opening its first shops in Ghana.
f) Product Development: This is a business strategy that involves the company
innovating a new product or service or improving existing ones in order to increase
customer base, company product appeal and market share. An example in the
Ghanaian setting is MTN beginning to offer fiber broadband services across Ghana.
g) Related Diversification: This is a business strategy that involves the company
adding new products or services that are related to the already existing ones they
offer. An example of this in the Ghanaian setting is that most banks now offer the
opportunity for customers to seamlessly transfer money between their bank
accounts and mobile money accounts.
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STRATEGIC PLAN PROJECT
ACTIVITY THREE
i. List and explain all the Grand (alternative) and Generic Strategies discussed in class
this week and give two (2) examples each in the Ghanaian setting.
ii. Having done a thorough analysis of your external and internal environments in
Activities one and two respectively, list four (4) alternative strategies you are likely to
pursue for the business selected for your project work and give the guidelines that
informed your decision on these strategies.
iii. Which of the Generic strategies are you likely to select for your strategic orientation
and why?
iv. Set a financial and a strategic objective to be achieved using the strategies in (ii) above.
1
, I. The types of Grand (alternative) strategies as well as their meaning and examples in
the Ghanaian setting are as follows:
a) Forward Integration: This is a business strategy that involves the company
expanding its capabilities or gaining control over distributors or retailers in order
to increase its market power. An example of this in the Ghanaian setting is KFC
now offering their own distribution service instead of relying solely on Jumia and
bolt foods.
b) Backward Integration: This is a business strategy that involves the company
expanding its capabilities to supply itself or gaining control of its supplies to
increase its market power. An example in the Ghanaian setting is a Bread Boutique
starting to cultivate their own wheat for baking.
c) Horizontal Integration: This is a business strategy that involves the company
gaining ownership or control of a competitor operating in the same business space.
An example which took place in the Ghanaian setting is the takeover of The Trust
Bank (TTB) by Ecobank Ltd.
d) Market Penetration: This is a business strategy that involves the company seeking
increased market share in terms of the product or service it deals in by putting in
greater efforts into marketing the product or making their product well known and
attractive to the consumer. An example in the Ghanaian setting is storm energy
drink signing Shatta Wale as a brand ambassador in order to appeal to more
customers.
e) Market Development: This is a business strategy that involves the company
introducing its products or services to an entirely new geographic area, or
demographic of people. An example in the Ghanaian setting is Burger king recently
opening its first shops in Ghana.
f) Product Development: This is a business strategy that involves the company
innovating a new product or service or improving existing ones in order to increase
customer base, company product appeal and market share. An example in the
Ghanaian setting is MTN beginning to offer fiber broadband services across Ghana.
g) Related Diversification: This is a business strategy that involves the company
adding new products or services that are related to the already existing ones they
offer. An example of this in the Ghanaian setting is that most banks now offer the
opportunity for customers to seamlessly transfer money between their bank
accounts and mobile money accounts.
2
